Record in general journal, post to general ledger using correct post references, and create an adjusted trial balance.

1. 8/1YOU filed a charter with the State of Louisiana to form the YOURAccounting Corporation. The charter authorizes you to issue 5000 shares of $2 par common stock. The state charged you a $75 fee to file the charter. Since your business is not yet approved, you had to pay this fee using personal funds. (nothing is recorded here just yet)

2. 9/1 You received your charter from the State of Louisiana and officially opened your business. Your first order of business was to become a shareholder of YOUR Accounting Corp. To do this, you purchased 600 shares of common stock by issuing a check to YOUR Accounting Corp for $12,000. You used this money to open a checking account at First Funds Bank

3. 9/1 You rented an office for YOUR Accounting Corp. The monthly rent is $500, with the first months rent due immediately. You issue check #100 to Office Builders for the first months rent.

4. 9/1You turned on utilities with Max Power Co. and WaterWorks #1. Max Power Co. collected a $50 deposit. Waterworks #1 collected a $20 deposit. You issued check #s 101 and 102, respectively.

5. 9/2 You then went to the Apple store and purchased a new computer system for your business. Your Mac Pro cost $3000 and your new printer cost $500. You set up a 30-day account with Apple to make this purchase

6. 9/2You purchased office furniture from Business World Supplies in the amount of $1750. You issued check #103 to pay for the items. NOTE: The total for the office furniture is below the capitalization threshold.

7. 9/4 You decided to purchase a new vehicle for your business. Upon visiting Pro-Auto, you decide on a new SUV at a cost of $55,000. This vehicle will be used 100% for business purposes. You finance the vehicle with Pig E Bank at a rate of 5% for 5years. Your first monthly payment is due on October 4.NOTE: You will need to create a loan amortization schedule to determine the amount of the monthly note and the interest expense for each month. You can use a website such as www.bankrate.comto create the schedule. When recording your journal entries, round all amounts to the nearest dollar

8. 9/5 You purchased supplies from KEM Supply for your business at a cost of $600. KEM opened a customer charge account for you. The payment terms on your account will be 2/10, net 30. The time period for determining the payment amount begins on the purchasedate.9/5Leah Legality, your attorney, filed for your Occupational License with the parish. She will invoice you the bill.

9. 9/6 You purchased a one-year auto insurance policy from InsureMart for $1200. InsureMart gave you an invoice for the policy. YOUR Accounting Corporation capitalizes the insurance policy and records an expense at year-end for the expired portion of the policy

10. 9/10Your first client, Red Fische, came in today needing assistance with filing the appropriate paperwork to start his new seafood restaurant. You issued invoice #1 to Red Fische andhe paid you an initial $2,000 Engagement Fee. Red Fischealso agreed to contract with you to provide accounting services for $2,500 per month.

11. 9/12You issue check #105 to YOURAccounting Corp to establish a $600 Petty Cash Fund. You will use this account to make small cash purchases.

12. 9/12 You reimburse yourself for the filing fees associated with forming your corporation. ($75)

13. 9/14 You paid KEM Supply by issuing check #106.

14. 9/15 You hire an administrative assistant, Mandi Handi, shewill be paid a monthly salary of $1500. You have decided that all pay periods will end on the last day of the month andthat checkswill be issued on the 5thof each month.NOTE: Assume the following rates when preparing the payroll: federal income tax 15%, state income tax 5%, and FICA 7.65%. YOURAccounting Corp. has state and federal unemployment insurance rates of 1% (FUTA) and2% (SUTA) on the first $7,700 of wagesper employee. The employer FICA rate is 7.65%.9/20You visited a new client, Anita Cooke, to set up a Quickbooks accounting system for her new business, Cooking For You. You gave Anita and invoice #2 for the Engagement Fee and she paid you by issuing a check in the amount of $2,000. Anita also agreed to a monthly fee of $1,500 for you to handle her ongoing accounting needs

15. 9/22 You purchased $50 of fuel for your new SUV from Get n Go. You charged this to your Get n Go account.

16. 9/25You really dont like cleaning, so you contracted with Clean Machine for weekly janitorial services. You will be invoiced $100 per month after services are performed.

17. 9/30First Funds Bank drafted $15 from your bank account for service charges.

18. 9/30Mandi sent pro-rated invoices,#3 & #4, to Red Fische and Cooking For You for Monthly Accounting Services. The payment terms are 1/10, net 30.

19. 9/30You accrued interest on the Pig E.Bank note.Accrue interest based on the number of days in the month.

20. 9/30You computed and accrued the payroll for September.

21. 9/30You received monthly bills for the following:

    Max Power Company -$100, terms n/30 &WaterWorks#1 -$20, terms n/30.