1. Set up general ledger accounts from the chart of accounts 2. Journalist the Transactions for January in a two column general journal. Use the following journal page numbers: January 1-10, page 1; January 12-24, page 2; January 25-30, page 33. Post the transactions to the general ledger4. Prepare a trial balance5. Prepare an income statement and a statement of owners equity for the month of January and a balance sheet as of January 31, 20-

JOURNALIZING AND POSTING TRANSACTIONS Annette Creighton opened 021 Creighton Consulting. She rented a small office and paid a part-time worker to 13,460 answer the phone and make deliveries. Her chart of accounts is as follows: Chart of Accounts Assets Revenues 101 Cash 401 Consulting Fees 142 Office Supplies 181 Office Equipment Expenses 511 Wages Expense Liabilities 512 Advertising Expense 202 Accounts Payable 521 Rent Expense 525 Phone Expense Owner's Equity 526 Transportation Expense 311 Annette Creighton, Capital 533 Utilities Expense 312 Annette Creighton, Drawing 549 Miscellaneous Expense Creighton's transactions for the first month of business are as follows: Jan. 1 Creighton invested cash in the business, $10,000. 1 Paid rent, $500. 2 Purchased office supplies on account, $300. 4 Purchased office equipment on account, $1,500. 6 Received cash for services rendered, $580. 7 Paid phone bill, $42. 8 Paid utilities bill, $38. 10 Received cash for services rendered, $360. 12 Made payment on account, $50. 13 Paid for car rental while visiting an out-of-town client (transportation expense), $150. 15 Paid part-time worker, $360. 17 Received cash for services rendered, $420. 18 Creighton withdrew cash for personal use, $100. 20 Paid for a newspaper ad, $26. 22 Reimbursed part-time employee for cab fare incurred delivering materials to clients (transportation expense), $35. 24 Paid for books on consulting practices (miscellaneous expense), $28. 25 Received cash for services rendered, $320. 27 Made payment on account for office equipment purchased, $150. 29 Paid part-time worker, $360. 30 Received cash for services rendered, $180. (continued )