Reference no: EM13975028

BUSINESS TRANSACTIONS

Jeff Robinson opened a Civil Engineering Consulting business in January 2015 named Robinson Engineering. During the first month of operations, the business completed the following transactions.

Reference #	Date	DESCRIPTION
1	4-Jan	The business received $40,000 cash from Robinson, which was deposited in a business bank account entitled Robinson Engineering.
2	4-Jan	Paid January's rent expense with cash, $1,100.
3	5-Jan	The business purchased land for a future site with a bank loan for
4	6-Jan	Purchased furniture, $2,800, on account.
5	7-Jan	Purchased supplies $800 on account.
6	11-Jan	Performed consulting services for a client and received cash, $2,200
7	12-Jan	Performed consulting services for client, $16,000. The client will pay in February.
8	15-Jan	Paid secretary salary, $900 cash.
9	19-Jan	Robinson withdrew $12,000 cash for personal use.
10	20-Jan	Paid cash for the supplies previously purchased on January 7 on account.
11	22-Jan	Received partial payment from a client on account, $5,000 cash.
12	28-Jan	Robinson invested $2,000 in the business.
13	29-Jan	Owes secretary salary, $900 for the last two weeks of January. Salary will be paid February 1st.

Required:

a) On Appendix A, prepare the journal entries for the business first month of operations. Explanations are not necessary.

b) On Appendix B, post your journal entries in the General Ledger T-accounts and calculate the balance

c) On Appendix C, prepare a Trial Balance for the business, using the balances from your T- accounts.

d) On Appendix D, prepare the Financial Statements: Income Statement, Statement of Owner's Equity and Balance Sheet

Please use the following general ledger accounts: Cash, J. Robinson Capital, Rent Expense, Land, Bank Loan Payable, Furniture, Accounts Payable, Supplies, Consulting Revenue, Accounts Receivable, Salaries Expense, J. Robinson Withdrawals and Salaries Payable.

Attachment:- APPENDIX.rar