1) Prepare the journal entries and ledger for the listed transactions assuming a periodic inventory system.

2) Prepare the trial balance

3) Prepare the closing of the accounting cycle

4) Prepare the Income Statement and the Balance Sheet

For data use attached image.

Gironoak, SA is a company that has the following Balance Sheet on December 31st 2017: 9.000 1.000 Assets Equities Furniture 1.000 Paid-in-capital Inventories 2.000 Suppliers Customers 2.000 Bank account 4.000 Cash 1.000 TOTAL 10.000 TOTAL During 2016 performs the following operations: 10.000 1. Sale of a furniture (that it appears in the beginning balance) 1.000. Collection on a bank transfer 2. Purchases of inventories for 1.550 on credit (90 days). Moreover, the invoice of the transportation costs equals 50 and it is paid at this moment by cash 3. We return inventories costing 100 to our supplier. This return reduces the open account with the supplier. 4. Cash Collection of 2.000 from our customers. 5. Sale of merchandise for 8.550 on credit. Minus an immediately discount from prom payment of 50. The acquisition cost of the merchandise sold equals 5.000 6. The company grants a quantity discount of 500 to one of its customers, reducing the open account. 7. Purchase of merchandise on credit for 2.500. The supplier grants a quantity discount of 50 to the company. 8. The customer returns for 1,500 of the delivery because it did not meet the requirements stated in the order. (Acquisition cost of the merchandise returned was 750). We complete the operation by bank transfer. 9. We have received a long-term loan (3 years) amounting to 10.000 from a bank that is deposited in our check account. 10. Acquisition of computer equipment valued at 2,000, amount paid immediately by bank check, Other information: 11. The physical count of the merchandise inventory at the end of the year results in an amount of 5,000. 12. The depreciation of the computer equipment for this year amounts to 500. Gironoak, SA is a company that has the following Balance Sheet on December 31st 2017: 9.000 1.000 Assets Equities Furniture 1.000 Paid-in-capital Inventories 2.000 Suppliers Customers 2.000 Bank account 4.000 Cash 1.000 TOTAL 10.000 TOTAL During 2016 performs the following operations: 10.000 1. Sale of a furniture (that it appears in the beginning balance) 1.000. Collection on a bank transfer 2. Purchases of inventories for 1.550 on credit (90 days). Moreover, the invoice of the transportation costs equals 50 and it is paid at this moment by cash 3. We return inventories costing 100 to our supplier. This return reduces the open account with the supplier. 4. Cash Collection of 2.000 from our customers. 5. Sale of merchandise for 8.550 on credit. Minus an immediately discount from prom payment of 50. The acquisition cost of the merchandise sold equals 5.000 6. The company grants a quantity discount of 500 to one of its customers, reducing the open account. 7. Purchase of merchandise on credit for 2.500. The supplier grants a quantity discount of 50 to the company. 8. The customer returns for 1,500 of the delivery because it did not meet the requirements stated in the order. (Acquisition cost of the merchandise returned was 750). We complete the operation by bank transfer. 9. We have received a long-term loan (3 years) amounting to 10.000 from a bank that is deposited in our check account. 10. Acquisition of computer equipment valued at 2,000, amount paid immediately by bank check, Other information: 11. The physical count of the merchandise inventory at the end of the year results in an amount of 5,000. 12. The depreciation of the computer equipment for this year amounts to 500