College Level 1 Accounting ; Create a Balance Sheet for Year Ended January 31, 2016 from the given information. (you will have to follow the full accounting cycle;

The first image/photo shows the December 31 2015 amounts and list of accounts that are to be used.

a) Journalize the transactions for the month of january 2016

b) Create adjusting entries for the following entries

c) Create a Balance sheet.

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a)

b)

c) Create a balance sheet

: Custom Duct Cleaning Inc. Version 9 m Duct Cleaning Inc. cleans ducts for residential and commerical buildings. You have been working for t its inception a few years ago and have been promoted to be their accounting manager The opening balances for the month of January 2016 are as follows. Custom Duct Cleaning Inc. Balance Sheet As at December 31, 2015 Assets Cash Accounts Receivable Office Supplies Office Furniture Accumulated Depreciation-Furniture Truck Accumulated Depreciation-Truck Total Assets Liabilities $13,600 Accounts Payable $7,100 Interest Payable $13,400 $130 $19,600 $33,130 $430 Bank Loan $2,900 Shareholders' Equity $2,400 Retained Earnings $36,000 Common Shares $24,300 65,930 Total Liabilities & Shareholders' Equity 565,930 The Chart of Accounts (GL no.) is shown below. Account Description Account # Account # Account Description REVENUE Sales Revenue Service Revenue EXPENSES Bank Charges Expense Cost of Goods Sold Depreciation Expense Gas Expense Insurance Expense ASSETS Cash Accounts Receivable 101 110 115 120 125 130 135 140 145 405 repaid Insurance Office Supplies nventory Office Furniture Accumulated Depreciation-Furniture Truck Accumulated Depreciation-Truck LIABILITIES Accounts Payable Interest Payable Bank Loan SHAREHOLDERS' EQUITY Common Shares Retained Earnings Income Summary 500 nterest Expense Internet Expense Office Supplies Expense Rent Expense Salaries Expense Telephone Expense 505 510 515 520 525 530 535 540 545 205 210 550 315