Above images shows the Instructions.

Below images shows the Transactions and Chart of Accounts

Use the following account descriptions below for journal entries.

REQUIREMENT #1: Prepare journal entries to record the October transactions in the General Journal below. Remember that Debits must equal Credits - All of your Journal (It has to balance both Debit and Credit)

REQUIREMENT #2: Post the October journal entries to the following T-Accounts and compute ending balances.

REQUIREMENT #3: Prepare a trial balance for October in the space below.

Requirement #4: Prepare adjusting entries using the following information in the General Journal below. Show your calculations! a) One month's insurance has expired. b) The remaining inventory of repair supplies is $194. c) The estimated depreciation on repair equipment is $70. d) The estimated income taxes are $4

Requirement #5: Post the adjusting entries on October 31 below to the General Ledger T-accounts and compute adjusted balances. Just add to the balances that are already listed.

REQUIREMENT #6: Prepare an Adjusted Trial Balance in the space below.

Requirement #7: Prepare the financial statements for Rawls Repair Corporation as of October 31 in the space below. You will only be preparing the Income Statement, Statement of Retained Earning and the Balance Sheet. The Statement of Cash Flows is a required Financial Statement, but is not required for this Project.

Requirement #8: Prepare the closing entries at October 31 in the General Journal below. Hint: use the balances for each account which appear on the Adjusted Trial Balance for your closing entries.

Requirement #9: Post the closing entries to the T-Accounts on the General Ledger worksheet and compute ending balances. Just add to the adjusted balances already listed.

Requirement #10: Prepare a post-closing trial balance as of October 31 in the space below.

This is due by Friday July 25th at 12pm

Hopefully you answer all the questions because I am in need of help in this course. I will try to understand everything that you guys have put in together as answers. I really appreciate all the hard work. Thank you in advance!