You will imagine a newly established SERVICE COMPANY as of Jan 01, 2015. You will start and finish the Accounting Cycle according to the below instructions. You should prepare your Semester Assignment by considering the below items to be recorded in the Journal; 

1. 1. During January, record 12 economic events (directed below) to the Journal and post these recorded entries to the related Ledger accounts 
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3. a. 1 investing some capital (On the 1" of January, some capital from shareholders (14 economic events) is transferred to the company.) 
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5. b. 1 getting some loan from a bank (On the 1" of January, some loan from the creditors (banks) with a 20% annual interest rate is deposited to the company's bank account (2nd economic event). 
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7. c. 3 prepaid expenses, 1 unearned revenue, 
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9. d. 3 accrued expenses, 1 accrued revenue, 
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11. e. 1 purchasing a vehicle in the beginning of January, 
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13. f. 1 purchasing equipment in the beginning of January, 
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15. 2. At the end of January, Prepare the Trial Balance 
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17. 3. Record 8 adjusting entries (5 deferrals, 3 accruals) for previously recorded entries explained above and post these adjusting entries to the related Ledger accounts 
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19. 4. Prepare Adjusted Trial Balance 
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21. 5. Prepare Income Statement 
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23. 6. Prepare Retained Earnings Statement 
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25. 7. Prepare a Balance Sheet

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1 During January record 12 economic events directed below to the Journal and post these recorded entries to the related Ledger accounts a 1 investing some capital On the 1 of January some capital from ... View the full answer