Question: Final Project Requirements Using the spreadsheet found here and information above, complete the following 1. Create journal entries to record the transactions that occurred during

 Final Project Requirements Using the spreadsheet found here and information above,
complete the following 1. Create journal entries to record the transactions that

Final Project Requirements Using the spreadsheet found here and information above, complete the following 1. Create journal entries to record the transactions that occurred during the month of December 2. Prepare an unadjusted trial balance based on the 3. journal entries at the end of the year, December 31 adjustment data. 4. Prepare an adjusted trial balance. 5. Prepare an income statement, statement of stockholders' equity, and classified balance sheet. 6. Create closing journal entries to close all temporary accounts. 7. Prepare post-closing trial balance. on December 1, 2015 John Trap created a new travel agency, Trap Adventures, Inc. providing exclusive adventure trips. The following transactions occurred during December 2015. NOTE: There are no beginning balances -this is a new company.) Dec 1 John Trap invested $60,000 cash in the company for common stock. 2 Purchase office equipment for$17,500 cash. The company rented furnished office space by paying $18,000 cash for the first six months (December 2015 -May 2016) rent. 3 The company purchased $1,500 of office supplies on account. 10 The company paid $3,600 cash for the premium on a 12-month insurance policy. 14 The company paid $10,750 cash for two weeks' salaries earned by employees. 24 The company collected $54,000 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $12,125 cash for two weeks' salaries earned by employees. 29 The company paid$350 cash for minor repairs to the company's computer. 30 The company paid $450 cash for this month's telephone bill. 30 Dividends of $3,000 cash were paid

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

\f