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1 Assets 2 Liabilities 2 1 Accounts Payable 2 3 Unearred Revenue 3 Stackhalders' Equity 3 1 Comman Stack 3 2 Retained Earnings 3 3

1 Assets
2 Liabilities
21 Accounts Payable
23 Unearred Revenue
3 Stackhalders' Equity
31 Comman Stack
32 Retained Earnings
33 Dividends
4 Revenue
Normal
41 Revenue
Credit
5 Expenses.
51 Insurance Expense Debit
52 Supglits Expenst
56 Deprtiation Expenst Debit
Credit
Credit
Credit
Credit
Detit
Annabug Designs, Inc designs personalized Ladybug motif bumperstickers. Baseed upon the following fact pattern complete the entire accounting cycle for the month of
December, 200x
1 Record the following entries for the month of December in the General Journal (GI) pages 112 and I2
Dec ,1 Invested $28,300 cash in exharge for Cammon Stock
1 Paid cash $28,800 for 12 manth insurance policy that maney could buy
2 Purchased office equipment for $86,400 on account
10 Billed elient $2400 for design wark
20 Purchased supplies worth $2400 on account
22 Received $2400 cash from custamer for future wark.
29 Paid cash to creditors $2400
29 Received $2400 cash from custamer paying down account.
30 Board of Directars declared and paid cash Dividend $2400
EXCLUDE THE DESCR:PTION
ALWAYS LEAVE A SPACE BETWEEN SEPARATE TRANSACTONS
2 Post to General Ledger (GL)
3 Produce the Unacjusted Trial Balance
4 Record Adjusting Entries on Journal Page 3
Des
31 Supplies an hand at manth end 50
31 Offise Equipment Depresiates starighe line over 3 years
31 Record insurarse expense for manth end
31 Earned $2400 of Unearned Revenue
31 Billed dient for 20 hours design wark at 5240 per hour
5 Post Acjusting Entries to the General Lestger (GL)
6 Produce the Adjusted Trial Balance
7 Produce an Income Statement, Retained Earnings Statement and lalance Shet.
8 Record on Journal Page 4 the closing of all temporary accounts directly into Retained Earnings
9 Post to General Ledger (GL)
10 Produce the Post Cosing Trial Balance
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