1. 12-1 The Shark Corp Received $240,000 from SJ Sharkie in exchange for 5,000 shares of Common Stock.
2. 12-2 The Shark Corp Borrowed $50,000 from Wells Fargo Bank and signed a Note.
3. 12-3 The Shark Corp purchased Office Furniture for $120,000(5 year life), on account from IKEA..
4. 12-4 The Shark Corp purchased Computer Equipment for $60,000(5 year life), on account from Office Depot
5. 12-5 The Shark Corp paid $18,000 with Check#101 for Corporate Insurance for the next 12 months.(Dec-Nov)
6. 12-10 The Shark Corp paid $15,000 with Check#102 for December Rent.
7. 12-11 The Shark Corp provided a mascot Seminar for the NIKE Corp and Billed Nike $110,000 on account.
8. 12-15 The Shark Corp received the December Utility Bill from PGE in the amount of $5,000 to be paid in Jan.
9. 12-16 The Shark Corp received the December Telephone Bill from SBC for $7,000 to be paid Later.
10. 12-17 The Shark Corp received a $70,000 Check from Nike Corp on account for services previously provided.
11. 12-20 The Shark Corp paid $20,000 with check #103 to Marks Marketing for Professional Fees Expense.
12. 12-25 The Shark Corp paid $44,000 with Check #104 for December Salary expenses.
13. 12-27 The Shark Corp received a $25,000 Check from Buick Corp for services to be provided in January.
14. 12-28 The Shark Corp Paid $120,000 with Check#105 to IKEA Corp for the Office Furniture purchased above.
15. 12-29 The Shark Corp Paid $7,000 with Check #106 to SBC on account for the Telephone Bill.
16. 12-30 The Shark Corp Paid $12,000 with Check#107 to Mr. SJ Sharkie for Dividends to the owner.
17. 12-30 The Shark Corp paid $3,000 with check #108 to WF Bank on the note, $1,000 was for Interest Expense.
18. 12-31 The Shark Corp recorded one Month of Insurance expense from the Prepaid Insurance account.
19. 12-31 The Shark Corp recorded one Month of Depreciation Expense on the Furniture and the Computer Equip.
20. 12-31 The Shark Corp recorded Income Tax Payable and Income Tax Expense for December, which is 40% of Net Income.(Taxes to be discussed in class)

Make an adjusted trial balance and consolidated balance sheet.