1. Deadline for submission: 4.1.2021 23:59

2. Do NOT prepare a Copy-Paste assignment.

3. Do NOT prepare the same numbers, same examples, or same thoughts for more than one student in assignments.

4. The SA should be prepared with high quality by considering English grammar and good shape in structuring paper.

5. There should be a cover page that will include;

The name, department, and number of the student.

The subject of the assignment

The abstract (summary) of your accomplishment (by saying that what you did, what you reach, what you learn, etc.)

6. If necessary, I will inform further considerations.

7. The SAs subject:

There is a newly established SERVICE COMPANY as of Jan 01, 2015.

You should prepare your SA by considering below items to be recorded to the Journal;

1. On the 1st of January, some capital from shareholders (1st economic event) is transferred to the company.

2. On the 1st of January, some loan from the creditors (banks) with 12% annual interest rate is deposited to the companys bank account (2nd economic event).

3. During January, you will consider 18 more economic events to be registered to the Journal as directed below:

a. 3 prepaid expenses, 1 unearned revenues

b. 3 accrued expense, 1 accrued revenue

c. 1 purchasing a vehicle in the beginning of January,

d. 1 purchasing equipment in the beginning of January,

e. 1 Freight-in cost for purchasing of equipment,

f. 1 Installation cost for the equipment,

g. 1 Maintenance cost for the equipment,

h. 2 adjustment entries with the bank,

i. 1 month depreciation registration for the Vehicle,

j. 1 month depreciation registration for the equipment,

k. 1 interest registration for the loan borrowed from the bank.

4. Post the above events to the Ledger

5. At the end of January,

a. Prepare Trial Balance

b. Record Adjusting Entries

c. Prepare Adjusted Trial Balance

6. Prepare Income Statement

7. Prepare Retained Earnings Statement

8. Prepare Balance Sheet