Transactions:

$1.$ December $1$: Received $$45,000$ cash as an owner investment in exchange for common

stock.

$2.$ December $2$: Paid $$9,100$ cash for equipment.

$3.$ December $3$: Paid $$5,520$ cash for a $12-$month insurance policy $($coverage begins

December $1).$

$4.$ December $4$: Paid $$1,650$ cash for December rent expense.

$5.$ December $7$: Provided all$-$day training services for a large group and immediately

collected $$2,250$ cash.

$6.$ December $8$: Paid $$350$ cash in wages for part$-$time help.

$7.$ December $9$: Provided training services for $$3,400$ and rented training equipment for

$$1,000.$ The customer is billed $$4,400.$

$8.$ December $19$: Received $$4,400$ cash from the customer billed on December $9.$

$9.$ December $20$: Purchased $$2,700$ of supplies on credit from a supplier.

$10.$ December $23$: Received $$2,800$ cash in advance for providing a $4-$week training service

to a customer.

$11.$ December $29$: Paid $$1,800$ cash as a partial payment toward the accounts payable of

December $20.$

$12.$ December $30$: Distributed a $$700$ cash dividend to the owner.

Month$-$End Adjustments $($December $31)$:

$1.$ One month of the $$5,520$ insurance policy has expired. This leaves $$5,060$ not yet

expired.

$2.$ A physical count of supplies shows that only $$1,600$ of supplies remain from the $$2,700$

purchased.

$3.$ The $$9,100$ of equipment purchased has a useful life of $5$ years $(60$ months$).$ Record one

month of straight$-$line depreciation.

$4.$ By December $31,$ one$-$fourth of the $$2,800$ advanced payment has been earned but not

recorded.

$5.$ Wages of $$850$ are owed to a part$-$time employee for work done over the past three weeks

but are not yet paid or recorded.

$6.$ By December $31,2$ weeks of services $($out of $6$ weeks$)$ worth $$850$ per week have been

provided to a customer for a total of $$1,700.$ The business has not yet billed the customer

or recorded the revenue.

Requirements

$1.$ General Journal tab $-$ Prepare journal entries for the first month of operations.

$2.$ General Ledger tab $$ Post to the ledger.

$3.$ Unadjusted Trial Balance tab $$ Create the unadjusted Trial Balance.

$4.$ General Journal tab $-$ Prepare any necessary adjusting entries for the current

month.

$5.$ General Ledger tab $$ Post the adjusting entries to the ledger. Use the previous

ledger balances.

$6.$ Unadjusted Trial Balance tab $$ Prepare the adjusted Trial Balance.

$7.$ Trial Balance Tab $$ Create the Trial Balance.

$8.$ Income Statement tab $$ Create the income statement.

$9.$ Statement of Retained Earnings tab $$ Create the Statement of Retained

Earnings.

$10.$ Balance Sheet tab $$ Create the Balance Sheet

$11.$ Post$-$Closing tab $-$ closing entries for the current month and create a post$-$

closing Trial Balance

$12.$ Worksheet Tab $$ Create the worksheet.

$13.$ Develop a chart of Accounts based on all the accounts that you used.