1. Opening balances- The opening balances for select accounts are provided in the appropriate ledger accounts. 2. Record the following transactions in the journal and post to the ledger: 12/02/13- Purchased 10 Units of Software on Account for $1,300 12/02/13- Paid employees Salaries owed 12/02/13- Provided Accounting Service on Account, $3,200 12/05/13- Purchased Computer Equipment on Account, $4,800 Note: The equipment has an estimated useful life of 4 years, residual value of $50 and uses the DDB method. 12/08/13- Purchased Supplies for $800 cash 12/10/13- Received $3,000 payment on account 12/11/13- Sold 15 units of Inventory on Account, $4,500 12/11/13- Made payment on Account, $1,000 12/12/13- Purchased 20 units of Inventory on Account, $2,400 12/14/13- Received a bill for Advertising and paid it, $250 12/15/13- Provided Accounting service for Cash, $8,000 12/16/13- Paid employees salary for Dec. 1-15 12/17/13- Provided Accounting Service on Account, $6,000 12/19/13- Sold 10 units of Inventory on Account, $3,000 12/22/13- Received $2,500 payment on Account 12/23/13- Made payment on Account, $2,500 12/24/13- Received and paid monthly Utility bills, $850 12/27/13- Received $2,000 cash in advance for accounting services 12/29/13- Provided Accounting Service for Cash, $5,000 12/30/13- Issued 1,000 shares of Common Stock at $15 per share 12/31/13- Declared dividends of $1.50 to outstanding shareholders as of 12/31/13. NOTE: Be sure to debit retained earnings and credit dividends payable. 3. Prepare a trial balance to verify that total debits equal total credits. 4. Record the following adjustments in the journal and in the trial balance. DO NOT post the adjusting entries to the ledger. Instead, post them directly as adjustments to the trial balance. 12/31/13- Employees salary for Dec. 16-31 12/31/13- Depreciation on Building, use SL method (calculate for entire year) 12/31/13- Depreciation on Furnishings, use DDB method (calculate for entire year) 12/31/13- Depreciation on Computer Equipment, use DDB method (calculate for one month) 12/31/13- Supplies on hand equal $1,625 12/31/13- Inventory count shows 33 units, some damaged units were disposed of during the month 12/31/13- $500 of advance payment was earned in December 12/31/13- Uncollectible Account expense for December 5. Prepare an Adjusted trial balance to verify debits equal credits at the end of the month 6. Prepare the 3 main financial statements for the year ending December 31, 2013. Complete only questions 4-6.

	Unadjusted Trial Balance
	Debit	Credit
Cash	$425,262.00		Correct
Accounts Receivable	$20,779.00		Correct
Allowance for Unc. Accounts		$1,011.00	Correct
Supplies	$2,800.00		Correct
Inventory	$4,700.00		Correct
Building	$140,000.00		Correct
Accumulated Depreciation- Building	$-	$-	Correct
Furnishing	$30,000.00		Correct
Accumulated Depreciation- Furnishings	$-	$-	Correct
Office Equipment	$4,800.00		Correct
Accumulated Depreciation- Off. Equip.	$-	$-	Correct
Accounts Payable		$5,579.00	Correct
Unearned Service Revenue		$2,000.00	Correct
Salary Payable	$-	$-	Correct
Dividends Payable		$31,500.00	Correct
Stock, Common		$21,000.00	Correct
Additonal Paid in Capital		$507,928.00	Correct
Retained Earnings		$8,500.00	Correct
Service Revenue		$124,700.00	Correct
Sales Revenue		$24,000.00	Correct
Advertising Expense	$7,839.00		Correct
Depreciation Expense	$-	$-	Correct
Repairs & Maintenance Expense	$10,567.00		Correct
Supplies Expense	$3,560.00		Correct
Uncollectible Accounts Expense	$1,011.00		Correct
Utilities Expense	$6,230.00		Correct
Cost of Goods Sold	$10,900.00		Correct
Salary Expense	$57,770.00		Correct
Total	$726,218.00	$726,218.00