ne spresdsheet in a safe place for future PS Music\'s chart of accounts and the

Question

ne spresdsheet in a safe place for future PS Music's chart of accounts and the balance of accounts as of July 1, 2019 (all normal balances), are as follows: 11 Cash 12 Accounts Receivable $3,920 41 Fees Earned $6,200 400 800 675 300 1,590 500 180 415 1,000 50 Wages Expense 14 Supplies 15 Prepaid Insurance 17 Office Equipment 21 Accounts Payable 23 Unearned Revenue 31 Peyton Smith, Capital 32 Peyton Smith, Drawing Required: Review the spreadsheet and notice that the July 1, 2019. account balances have been entered in the appropriate balance column of the four-column accounts. The word Balance has been entered in the Item column, and a check mark (v) has beer entered in the Posting Reference column. 170 51 Office Rent Expense -52 Equipment Rent Expense 53 Utilities Expense 250 54 Music Expense SS Advertising Expense 4,000 56 Supplies Expense 500 59 Miscellaneous Expense 100%

Explanation / Answer

Solution:-

16.Received $2000 for the serving as a disc jockey for a wedding reception :-

18.Purchased supplies on account,$840:-

21.paid $620 to upload music for use of its current music demo's in macking various music sets :-

22.Paid $800 to a local radio station to advertise the service of P5 music twice daily for the remainder of july:-

23.served as disc jockey for a party $2,500 received $750,with the remainder due august 4,2016:-

= 750+01,750

= $2,500

27.paid electric bill,$915:-

28.Paid wages of $1,200 to receptionist and part-time assistant :-

29.paid miscellaneous expenses $540:-

30. served as adisc jockey for a charity ball for $1,500.received $500,with the remainder due on august 9,2016:-

Cash

= 500 + 1,000

=$1,500

31.received $3,000 for serving as a disc jockey for a party :-

31.Paid $1,400 royalities (music expense ) to national music clearing for use of various artist's music during july:-

31.Withdrew $ 1,250 cash from PS music for personal use:-

Note:- based on the chegg rule i have time limit to complete the question .so i completed only half part ,if you need remaining part also please upload it as a another question .

THANK YOU.

Cash 11 $2,000 Fees earned 41 2,000

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