SOUTH WESTERN REAL ESTATE BROKERS TRIAL BALANCE June 30,2020 Cash P 650,000 Accounts Receivable 100,000 Prepaid Rent 108,000 Prepaid Insurance 28,800 Supplies Office Equipment Accumulated Depreciation-Office Equipt. 9,000 90,000 21,600 Service Vehicle 240,000 Acc. Depreciation-Service Vehicle Accounts Payable 60,000 10,800 Notes Payable 150,000 Unearned Management Service Income M. Velarde, Capital 46,800 1,337,400 M. Velarde, Drawing 705,000 Commission Income 900,000 Management Service Income Salaries Expense 72,000 599,400 Advertising Expense Fuel & Oil Expenses 9,000 53,400 Miscellaneous Expenses 6,000 Totals P 2,598,600 P 2,598,600

Which among the following is considered as the book of original entry? a. Trial Balance b. Balance Sheet c. Journal d. Ledger

The first required step in the accounting cycle is: O journalizing transactions, posting transactions.. Oanalyzing transactions. O adjusting entries.

Requirements Sheet in Workbook Requirement 1—Prepare the Journal Entries in the General Journal Journal Entries Requirement 2—Post Journal Entries to the General Ledger General Ledger Requirement 3—Prepare a Trial Balance Trial Balance Requirement 4—Prepare the Adjusting Entries Adjusting Entries Requirement 5—Post Adjusting Entries to the General Ledger General Ledger Requirement 6—Prepare an Adjusted Trial Balance Adjusted Trial Balance Requirement 7—Prepare the Financial Statements Financial Statements Requirement 8—Prepare the Closing Entries Closing Entries Requirement 9—Post Closing Entries to the General Ledger General Ledger Requirement 10—Prepare the Post Closing Trial Balance Post-Closing Trial Balance 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…