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: 5. Income Statement 6. Retained Earnings Statements 7. Balance Sheet You need to use excel. Do not use Google Docs or Apple's numbers. Part One The following transaction occurred for Scrooge Inc. for the month of December 31, 1820. Ebenezer Scrooge invested $50,000 cash along in the company in exchange for common stock. The company prepaid $500 for 12 month's rent. The company purchased $100 in office supplies. Payment due withing 10 days Scrooge Inc. completed services for a client and immediately received $2,000. The company completed $1,500 project for a client. The client was billed, and must be paid within 30 days. The company paid the $100 cash to settle the A/P created in letter C. The company received $750 in cash as partial payment for the work completed in item D. The company paid a $50 cash dividend. The company paid its coal heating bill for $10 in cash. Chart of Accounts 101 Cash 102 A/R 103 Supplies 104 Pre-paid Rent 105 Accumulated Depreciation - Building 201 A/P 202 Unearned Revenue 301 C/S 302 Dividends 400 Revenue 600 Heating Expense 601 Depreciation Expense - Building 602 Rent Expense 603 Supplies Expense