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REQUIREMENT 2, 5 & 9 Okay, I have a case study I need to complete by...

REQUIREMENT 2, 5 & 9

Okay, I have a case study I need to complete by the end of this week but I am stuck. Plus, I need to make sure that I am doing this correctly. It is a layered challenge. I will have to send the study in pieces because I could not attach the actual document.   

This Sheet will be used for Requirements 2, 5, and 9.              
              
Requirement #2:                    
Post the July journal entries to the following T-accounts and compute ending balances.              

Requirement 5—Post Adjusting Entries to the General Ledger

Requirement 9—Post Closing Entries to the General Ledger
  
During its first month of operation, the Quick Tax Corporation, which specializes in tax preparation,                                              
completed the following transactions.                                              
                                              
July 1   Began business by making a deposit in a company bank account of $60,000, in exchange                                          
   for 6,000 shares of $10 par value common stock.                                          
                                              
July 3   Paid the current month's rent, $3,500                                          
                                              
July 5   Paid the premium on a 1-year insurance policy, $4,200                                          
                                              
July 7   Purchased supplies on account from Little Company, $1,000.                                          
                                              
July 10   Paid employee salaries, $3,500                                          
                                              
July 14   Purchased equipment from Lake Company, $10,000. Paid $2,500 down and the balance was                                          
   placed on account. Payments will be $500.00 per month until the equipment is paid. The first payment is due 8/1.                                          
   Note: Use accounts payable for the balance due.                                          
                                              
July 15   Received cash for preparing tax returns for the first half of July, $8,000                                          
                                              
July 19   Made payment on account to Lake Company, $500.                                          
                                              
July 31   Received cash for preparing tax returns for the last half of July, $9,000                                          
                                              
July 31   Declared and paid cash dividends of $600.                                          

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