All below is Exactly how everything was given including the table. Follow the directions and fill in whatever needs to be filled in. I doubt they all get filled in but aslong as you follow everything plugging it all in shouldn't be a problem. If this seems hard feel free to take a fe more questions I have left to use :P thank you! also I forgot to make it ten columns so if theres a way to make it ten please do so! just in case I made another set of columns and used letters for each one for the 10. Here are two pictures to help. All the info below is all he gave us and the 6 questions are to be answered and put where they need to be.

Comprehensive Problem

ABC Consulting.

One night while sitting at the bar in Maxies, three friends (Ahmad, Barbara and Chen) decided to start a consulting business. They decided to name the Business ABC Consulting. They specialize in marketing services for small creative businesses. Although all three were marketing majors they did remember some accounting and decided to use the following chart of accounts.

Account Name	Account Name
Cash	Capital Stock
Accounts Receivable	Retained Earnings
Prepaid Rent	Dividends
Unexpired Insurance	Income Summary
Office Supplies	Consulting Fees Earned
Office Equipment	Salaries Expense
Accumulated DepreciationOffice Equipment	Promotional Materials (supplies)
Notes Payable	Utilities Expense
Accounts Payable	Rent Expense
Interest Payable	Office Supplies Expense
Salaries Payable	Depreciation Expense
Dividends Payable	Interest Expense
Unearned Consulting Fees	Income Taxes Expense
Income Taxes Payable	Promotional Expense
Other Expenses

ABC Consulting Inc. closes its accounts and prepares financial statements at the end of each month. During Sept (their first month of operations) they had the following transactions.

Date	Transaction or Event
Sept 1, 2010	25,000 shares of capital stock issued to each shareholder in exchange for $100,000 contribution from each.
Sept 1, 2010	Purchased all of the office equipment owned by "Dewey, Cheatum and Howe." (a bankrupt telemarketer). The equipment that was bought had a fair market value of $500,000, but the actual purchase price was $300,000. They signed a 5-year 6% note payable and paid $150,000 cash.
Sept 1, 2010	Paid $24,000 rent to Li-Mehta Realty Company. They are occupying the same office space as " Dewey, Cheatum and Howe." The rent paid to Li-Mehta Realty Company was for 6-months.
Sept 4, 2010	Purchased from Midnite Office Supply office supplies worth $2250 on account. Payment terms are 2/10 net 30. They expect that these supplies will last for several months.
Sept 5, 2010	Hired a new administrative aide, his annual salary is $36,500 per year plus a benefit package that is worth $12,500.
Sept 8, 2010	Received a $12,000 cash advance payment from a new winery (Chateau Traileur Parc) to help market their new wine Nasti Spumante. Use a liability account.
Sept 12, 2010	Paid the salaries for the first two weeks of Sept. $7500.
Sept 15, 2010	$22,000 was earned from Chateau Traileur Parc,. Of the $22,000, the amount of cash received from Chateau Traileur Parc., was $8,000.
Sept 17, 2010	Purchased business cards, coasters, and other promotional items. They are trading $500 worth of their consulting services to the printer in exchange for these items. These items are considered supplies and are expected to last quite a while.
Sept 23, 2010	Of the accounts receivable recorded on Sept 15th, $7,000 was collected. They received their combined utility bill for the first three weeks. The bill is for $350 net 10.
Sept 25, 2010	Rented a sound system for a promotional event. This system rents for 250 dollars per day. ABC, Inc. will settle their account when they return the sound system.
Sept 26, 2010	Paid the salaries for the two weeks ended Sept. 26. $7,250.
Sept 27, 2010	Paid utility bill.
Sept 28, 2010	A dividend was declared, which they intend to pay at $0.05 per share by the end of the year.
Sept 29, 2010	A child was slightly injured when he tripped over the sound system. The child is the only son of a lawyer and an orthopedic surgeon. Surprisingly they have filed a half million dollar lawsuit. The actual liability for the accident has not yet been determined.
Sept 29, 2010	Purchased a one-year public liability insurance policy for $7,500. The policy becomes effective at 12:01 a.m. October 1, 2010.
Sept 30, 2010	They received their Attorneys bill for $2000. It is due no later than October 15th.
Sept 30, 2010	For the last two weeks of Sept, they earned $15,000. Of the $15,000, the amount of cash received amounted to $6,750.

Adjusting Entries

Date	Transaction or Event
Sept 30, 2010	The rent paid to Li-Mehta Realty Company was for 6 months.
Sept 30, 2010	They recorded the interest accrued on the note payable was.
Sept 30, 2010	Office equipment is being depreciated over 15 years. They have chosen to use the straight-line method of depreciation. They estimate that the equipment has no residual value.
Sept 30, 2010	At the end of the month office supplies worth $1,000 were on hand. There was $450 worth of promotional supplies were still on hand.
Sept 30, 2010	During the month, Chateau Traileur Parc had used $9,000 worth of consulting services.
Sept 30, 2010	By the end of the month, they had not returned the sound system. Rental period until Sept 30 is 5 days.
Sept 30, 2010	Salaries earned by employees amounted to $1,500 since the last payroll date (Sept 26th).
Sept 30, 2010	Ahmad, Barbara and Chen have consulted with their independent accountant, Paul Murky (a senior partner at the firm of Murky, Margin and Error, P.C.) and he advised them that they are likely subject to a combined local, state, & federal tax rate of 40% The taxes will be paid by December 15.

Instructions

1-Journalize ( in good form ) the above transactions.

2- Post to general ledger accounts. (Use a running balance form of ledger accounts.)

3- Prepare a 10 column worksheet for the month ended Sept 30, 2010.

4- Prepare adjusting and closing entries and post to general ledger accounts.

5- Prepare an income statement, a statement of retained earnings for the month of September and a balance sheet (in report form) as of Sept 30.

6- Prepare an after- closing trial balance as of Sept 30.

1	A	B	ABC CONSULTING INC. C	D	E
2			JOURNAL Entries
3
4	Date		Transaction	Debit	Credit
5	9/1/10
6
7
8	9/1/10
9
10
11
12	9/1/10
13
14
15	9/4/10
16
17
18	9/5/10
19
20	9/8/10
21
22
23	9/12/10
24
25
26	9/15/10
27
28
29
30	9/17/10
31
32
33	9/23/10
34
35
36	9/23/10
37
38
39	9/25/10
40
41	9/26/10
42
43
44	9/27/10
45
46
47	9/28/10
48
49
50	9/29/10
51
52	9/29/10
53
54
55	9/30/10
56
57
58	9/30/10
59
60
61
62			Adjusting Entries
63
64	Date		Transaction	Debit	Credit
65	9/30/10
66
67
68	9/30/10
69
70
71	9/30/10
72
73
74	9/30/10
75
76
77	9/30/10
78
79
80	9/30/10
81
82
83	9/30/10
84
85
86	9/30/10
87
88
89	9/30/10
90
91
92			Closing Entries
93
94	Date		Transaction	Debit	Credit
95	9/30/10
96
97
98	9/30/10
99
100
101
102
103
104
105
106
107
108
109	9/30/10

F	G	H	I	K

ABC consulting Comprehensive problem solution fCompatibility Model-Excel HOME INSERT LAYOUT FORMULAS DATA REVIEW VIEW ACROBAT PAGE AutoSum wrap Text Custom B I u A IF a HE HE EMerge & center Format as cell Insert Delete Format 2 Clear Formatting Table styles Alignment Font Debit Credit Transaction 94 Date 46,500 95 9/30/2010 Fees Earned 46,500 Retained Earnings 35,140 46,500 98 9/30/2010 Retained Earnings 27,567 16,250 Salaries Expense 1,300 27,567 18,933 Income before ta Promo Material Expense 7,573 Income Tax Expe 350 Utilities Expense 101 11,360 Net Income 4,000 Rent Expense (3,750 1,250 Office Supplies Expense 103 1,667 Depreciation Expense 750 Interest Expense 105 7,573 Income Tax Expense 2,000 107 Other Expenses 3,750 109 9/30/2010 Retained Earnings Journal General Ledger 10 Column Worksheet Adjusted Trial Balance Balance shee