Instructions

$1.$ Journal all transactions in Part One

$2.$ Using the chart of accounts, open ledger accounts and post journals to

the ledger account.

$3.$ Prepare a trial balance

$4.$ Prepare the following statements:

$1.$ Income Statement

$2.$ Retained Earnings Statements

$3.$ Balance Sheet

You need to use Microsoft Excel. Do not use Google Docs or Apple$$s numbers.

Part One

A$.$ The following transaction occurred for Scrooge Inc. for the month of

December $31,1820.$

B$.$ Ebenezer Scrooge invested $$50,000$ cash along in the company in

exchange for common stock.

C$.$ The company prepaid $$500$ for $12$ month$$s rent.

D$.$ The company purchased $$100$ in office supplies. Payment due withing

$10$ days

E$.$ Scrooge Inc. completed services for a client and immediately received

$$2,000.$

F$.$ The company completed $$1,500$ project for a client. The client was

billed, and must be paid within $30$ days.

G$.$ The company paid the $$100$ cash to settle the A$/$P$.$

H$.$ The company received $$750$ in cash as partial payment for the work

completed earlier.

I. The company paid a $$50$ cash dividend.

J$.$ The company paid its coal heating bill for $$10$ in cash.