Carly Case Study - Accounting and Finance Assignment Help

Assignment Task:

Additional Information 

1. Carly has worked her standard hours for the past week, but she is not due to receive her pay until 7th Aug.
2. David's phone and Internet usage for June is estimated at $850, but he has not yet received the bill. 
3. His estimated electricity usage for July is $1,900.
4. He allows that 5% of his closing Accounts Receivable balance may not be collectable.

David uses straight-line depreciation for all his assets. David uses a perpetual inventory system with a FIFO (first in, first out) inventory costing method. 

REQUIREMENTS for Part 1: 
a) Record the transactions listed for July 2019.
b) Record any end-of-month adjustments required for July 2019, arising from both the additional information provided and the transactions you have recorded.

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