mySNHU X D21 Module Five - ACC-201-10321-M X D2L Milestone Two Guidelines and Ru X + X G https://learn.snhu.edu/d21/le/content/1916788/viewContent/40459324/View . . . Scenario You were recently hired as an entry-level bookkeeper for a service corporation that just opened this month. Your first task is to record business transactions for its first month using the source documents and transaction data the company will provide to you. This corporation hasn't set up its computerized accounting system yet, so you will apply the accounting cycle to record transactions and generate financial reporting results for the organization in Microsoft Excel. Directions Financial Statements: Use the account balances from the Trial Balance generated through the recording process in Milestone One to prepare the income statement, statement of stockholder's equity, and balance sheet for the company. Then close temporary account balances using closing entries in the final step. Be certain to revisit any feedback received from Milestone One and make necessary corrections to ensure that statements are completed with accurate balance information. You may refer to the blank Company Accounting Workbook Template if necessary, but keep in mind that your work for this milestone should be added to the work that was completed in your workbook for the previous milestone. You should also implement any feedback that was given to you during Milestone One. Specifically, you must address the following rubric criteria: . Income Statement: Prepare the income statement using the adjusted trial balance. Statement of Stockholder's Equity: Prepare the statement of stockholder's equity using the adjusted trial balance. . Balance Sheet Assets: Prepare the balance sheet assets using the adjusted trial balance. Balance Sheet Liabilities: Prepare the balance sheet liabilities using the adjusted trial balance. . Closing Entries: Complete the Closing Entries tab of the Company Accounting Workbook by closing all temporary income statement amounts to create closing entries. What to Submit 59'F Q Search O X 2:23 AM 6/7/2025 Partly cloudy= HE Styles Editing Dictate Editor Ad A Paragraph 'S Styles Voice Editor Ad 3 June 1: Company issues $25,000 common stock at par. June 1: Company purchased a company vehicle in the amount of $17,000. June 3: Company took out a business loan in the amount of $15,000. June 5: Company paid rent for June, and prepaid office rent for a three-month period to cover July through October at $1,000 per month. June 5: Company paid $850 in legal fees for incorporation expenses. June 5: Company ordered office supplies on account in the amount of $500. June 6: Company performed service for client on account in the amount of $2,500. June 9: Company provided service for client in the amount of $3,000. Customer paid $1,000 at time of service. Client will be billed for the balance due. June 10: Company paid $250 in advertising costs to the local paper. Company signed a Ontract to advertise on social media for $125 per month and made the first payment at the time of signing. June 15: Company recorded wages that were due to the part-time employee in the amount of $500. This amount will be paid on June 20. June 15: Company prepaid business insurance to cover July through December at the rate of $100 per month. June 20: Company paid wages that were due to the part-time employee from the period ending June 15. June 21: Company paid for repairs on an HVAC unit of $325. June 23: Customer paid balance due from June 6 service in the amount of $2,500. June 25: Company provided service to client in the amount of $1,200. Client paid at the time of service. June 28: Company paid balance due for office supplies purchase on June 5. June 29: Company performed service for client on account in the amount of $2,225. June 30: Company received utility bill for the month of June in the amount of $210 and recorded the expense. This bill will not be paid until July. June 30: It is the last day of the pay period. Company owes the part-time worker $210 for the June 16 through June 30 pay period. This amount will be paid on July 5. June 30: Record depreciation on vehicle at $285. Text Predictions: On Accessibility: Good to go Focus Q Search o W