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Comprehensive Case Study On October 1, 2022, Norman Bytes organized a computer service company called Bits N Bytes. Norman is organized as a sole proprietorship and will provide consulting services, computer system installations and custom program development. Bits N Bytes expects to prepare the company's first set of financial statements as of year-end December 31, 2022. The transactions for October, November and December are listed below. The initial chart of accounts for the accounting system includes these items: Transactions and events for October, November and December were as follows: Required: 1. Prepare journal entries to record the transactions for October, November, and December 2022. Post these entries to the general ledger accounts. Unadjusted Trial Balance Check Figure \$83,530 DR 2. Prepare adjusting journal entries to record the following additional information collected on December 31, 2022. Please ensure that you place the letter reference below the date for these entries/ Post the entries to the accounts in the ledger. ADJ Trial Balance Check figure =$85,462 DR 3. Prepare an adjusted trial balance as of December 31, 2022-A worksheet is OPTIONAL but you are strongly encouraged to used onel A tab has been included in the Excel file for you, should you choose to complete a worksheet. (which I hope you do) 4. Prepare an income statement and statement of changes in equity for the three months ended December 31,2022 . Check figure: Net loss =($8,858.00) Comprehensive Case Study On October 1, 2022, Norman Bytes organized a computer service company called Bits N Bytes. Norman is organized as a sole proprietorship and will provide consulting services, computer system installations and custom program development. Bits N Bytes expects to prepare the company's first set of financial statements as of year-end December 31, 2022. The transactions for October, November and December are listed below. The initial chart of accounts for the accounting system includes these items: Transactions and events for October, November and December were as follows: Required: 1. Prepare journal entries to record the transactions for October, November, and December 2022. Post these entries to the general ledger accounts. Unadjusted Trial Balance Check Figure \$83,530 DR 2. Prepare adjusting journal entries to record the following additional information collected on December 31, 2022. Please ensure that you place the letter reference below the date for these entries/ Post the entries to the accounts in the ledger. ADJ Trial Balance Check figure =$85,462 DR 3. Prepare an adjusted trial balance as of December 31, 2022-A worksheet is OPTIONAL but you are strongly encouraged to used onel A tab has been included in the Excel file for you, should you choose to complete a worksheet. (which I hope you do) 4. Prepare an income statement and statement of changes in equity for the three months ended December 31,2022 . Check figure: Net loss =($8,858.00)