ABC Inc. established its operation at January $1$st$,2014.$

A$)$ Enter all necessery Journal Entries that occured during the year.

B$)$ Then prepare the adjusting entries, closing entries, financials, worksheet & T accounts.

$1)$ In January, Initial stock issuance: $$450,000$

$2)$ January, bought Equipment for $ $63000,10$ years life, $$3000$ residual value $$63,000$ $$3,000$

$3)$ November, paid total utility bills: $$8,500$

$4)$ In January, paid in advance rent for two years: $$12,000$

$5)$ In February, received prepayment from a customer for service to be provided: $$42,000$

$6)$ Dec. $31$st $2014,$ unearned revenue balance $$2,000$

$7)$ In December, Dividend declared: $$10,000$