Question: create a t chart please. On December 31st, you notice the following: a) You have used up $150 of your supplies b) You have used

create a t chart please. create a t chart please. On December 31st, you notice the following:

On December 31st, you notice the following: a) You have used up $150 of your supplies b) You have used up $100 of your insurance c) You have used up $125 of your advertising d) You have accumulated $600 interest on the note payable ($120,0006%1/12) e) You have accumulated $375 depreciation on the building [($180,000/40)1/12] f) You have accumulated $500 depreciation on the dancing equip. [($72,000/12)1/12] g) You have accrued salaries of $1,000 The Accounting Cycle 1. Analyze business transactions 2. Journalize the transactions 3. Post to ledger accounts 4. Prepare a trial balance 5. Joumalize and post adjusting entries 6. Prepare an adjusted trial balance 7. Prepare the financial statements (I/S, Stmt of RE, B/S) 8. Joumalize and post closing entries 9. Prepare a post-closing trial balance

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