• Accuracy: Prepare entries that are accurate in that they fully reflect the appropriate information.
• Completeness: Prepare entries that are complete for each month, including transferring posted entries to T accounts.
• Unadjusted Trial Balance: Prepare the unadjusted trial balance portion of the Trial Balance tab of the company accounting workbook, ensuring that the total debits and credits match.

• Income Statement: Prepare the income statement using the adjusted trial balance
• Statement of Owners Equity: Prepare the statement of owners equity using the adjusted trial balance.
• Balance Sheet Assets: Prepare the balance sheet asset entries using the adjusted trial balance.
• Balance Sheet Liabilities: Prepare the balance sheet liabilities entries using the adjusted trial balance.
• Closing Entries: Complete the Closing Entries tab of the company accounting workbook by closing all temporary income statement amounts to create closing entries.

March 1: Owner borrowed $125,000 to fund/start the business. The loan term is 5 years.

March 1: Owner paid $250 to the county for a business license.

March 2: Owner signed lease on office space; paying first (March 20XX) and last months rent of $950 per month.

March 5: Owner contributed office furniture valued at $2,750 and cash in the amount of $15,000 to the business.

March 6: Owner performed service for client in the amount of $650. Customer paid in cash.

March 8: Owner purchased advertising services on account in the amount of $500.

March 10: Owner provided services to client on account, in the amount of $1,725.

March 15: Owner paid business insurance in the amount of $750.

March 20: The owner received first utility bill in the amount of $135, due in April.

March 20: Office copier required maintenance; owner paid $95.00 for copier servicing.

March 22: Owner withdrew $500 cash for personal use.

March 25: Owner paid $215 for office supplies.

March 25: Owner provided service to client in the amount of $350. Client paid at time of service.

March 30: Owner paid balance due for advertising expense purchase on March 8.

March 30: Received payment from customer for March 10 invoice in the amount of $1,725.

March 31: Last day of pay period; owner owes part-time worker $275 for the March 16 through March 31 pay period. This will be paid on April 5.

March 31: Provided service for client on account in the amount of $3,500.

March 31: Record depreciation of the office furniture at $45.83.

Trial Balance As of 03/31/20XX \begin{tabular}{|l|r|r} \hline \multicolumn{1}{|c}{ Unadjusted trial balance } \\ \hline \multicolumn{1}{|c|}{ Account } & Debit & Credit \\ \hline Cash & $138,515.00 & \\ \hline Accounts Receivable & 3,500.00 & \\ \hline Prepaid Rent & 1,900.00 & \\ \hline Office Furniture & 2,750.00 & \\ \hline Office Supplies & 215.00 & \\ \hline Accumulated Depreciation & & \\ \hline Notes Payable & & \\ \hline Accounts Payable & & \\ \hline Wages Payable & & \\ \hline Owner's Capital & & \\ \hline Owner Draws & 135.83 \\ \hline Service Revenue & 500.00 & \\ \hline Rent Expense & & \\ \hline Business License Expense & & \\ \hline Depreciation Expense & 250.00 & \\ \hline Insurance Expense & 45.83 & \\ \hline Repairs and Maintenance Expense & 750.00 & \\ \hline Advertising Expense & 95.00 & \\ \hline Wages Expense & 500.00 & \\ \hline Utilities Expense & 275.00 & \\ \hline Total: & 135.00 & \\ \hline & 149,430.83 & 149,430.83 \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Debits should equal credits Posting to the ledger/t accounts Don't overthink it! You are just posting each debit and credit from the journal entries to the account These accounts are set to calculate your balances for you. Please be careful not to delete the running totals as those will calculate the endi. The ending balance will transfer to the Trial Balance sheet. If you have posted all entries and your trial balance is not in balance ftotal debits this means that there is an error. duire corrections. $95.00$95.00