Penn Foster 06168900 (Aqua Elite, Inc.)
To begin, review the financial statements on pages 122 and 127 of your textbook (Exhibits 3-4 through 3-7). Then, following the instructions below, complete the electronic forms provided at the end of this file. Submission instructions are given the end of this project. 1. Journalize the transactions. Omit explanations. 2. Post the transactions to the general ledger, creating new ledger accounts as necessary. Calculate the new general ledger account balances. 3. Prepare the unadjusted trial balance for Aqua Elite, Inc., at the end of July. 4. Journalize and post the adjusting entries for July based on the following adjustment information: a. Record the expired rent. b. Supplies on hand, $350. c. Depreciation: $400 equipment, $210 furniture, $650 vehicles. d. Services performed but unbilled, $1,900. e. Accrued salaries, $675. f. Unearned service revenue earned as of July 31, $800. 5. Prepare an adjusted trial balance for Aqua Elite, Inc., at the end of July. 6. Pr...