Accounting Cycle Project $1$

$1$

a$.$ Prepaid insurance of $$133$ has expired this month.

b$.$ At the end of the month, $$800$ of office supplies are still available.

c$.$ This month's depreciation on the computer equipment is $$300.$

d$.$ Employees earned $$320$ of unpaid and unrecorded salaries as of month$-$end.

$100$

e$.$ The company earned $$1,800$ of commissions that are not yet billed at month$-$end.

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& $2.$ Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement $6b.$ The company records prepaid and unearned items in balance sheet accounts.

Using account balances from Requirement $6$ b$,$ prepare an unadjusted trial balance as of April $30.$

Journalize the adjusting entries for the month and prepare the adjusted trial balance.

$5$a$.$ Prepare the income statement for the month of April $30.$

$5$b$.$ Prepare the statement of retained earnings for the month of April $30.$

$5$c$.$ Prepare the balance sheet at April $30.$

$6$a$.$ Prepare journal entries to close the temporary accounts and then post to Requirement $6b.$

$6$b$.$ Post the journal entries to the ledger.

Prepare a post$-$closing trial balance.