All transactions will be both journalized in the General Journal and posted into the General Ledger. The accounting cycle steps are as follows. 1. Analyze the December Transactions for Jamison Consulting on the Analyzing Transactions Worksheet 2.Journalize the December Transactions in the General Journal 3.Post the December Transactions into the General Ledger 4.Prepare an Unadjusted Trial Balance as of December 31 ($99,816) 5.Journalize and Post the Necessary Adjustments as of December 31 6.Prepare an Adjusted Trial Balance as of December 31 ($101,816) 7.Prepare the Financial Statements for the Quarter Ended December 31 (Balance Sheet $84,898) 8.Journalize and Post the Required Closing Entries as of December 31 9.Prepare the Post-Closing Trial Balance as of December 31 ($86,398) You will need to use proper formatting when journalizing, posting, preparing your Trial Balances, and preparing your Financial Statements. Proper formatting is shown in the lecture notes and, for each document, is explained below. Journal Debits are flush against the left hand margin and credits are indented to the right. You will need to include dates and post references. You will not need to include explanations. You should skip a line between every transaction. Each transaction should be recorded as one, and only one, journal entry. Ledger Every time a new entry is posted into the ledger, the new balance should be calculated. You will need to include dates and post references. You will only enter information in the explanation column for adjusting and closing entries, not for the daily transactions. Adjusting Entries => Adjustment Closing Entries => Closing Do not skip a line between postings. Trial Balances Start with the heading. Accounts should be listed on the Trial Balances in account order. If you include an account on the Unadjusted Trial Balance or the Adjusted Trial Balance that has a balance of zero, make sure you write zero in the proper debit/credit column, depending on its normal balance. Accounts with a zero balance should not be listed on the Post-Closing Trial Balance. Include single and double underlines where necessary. Financial Statements Start with a heading. Include single and double underlines where necessary. Prepare a classified balance sheet. Prepare a multiple step income statement. Use the subtotal column and total columns when necessary. There are five parts to the project the due dates for each part are listed on the schedule. Part 1: Step 1 Part 2: Steps 2, 3, & 4 (Check Figures: UTB $99,816) Part 3: Steps 5 & 6 (Check Figures: ATB $101,816) Part 4: Steps 7, 8, & 9 (Check Figure: BS $84,898 and P-CTB $86,398) View as PageDownloadToggle Fullscreen Send to BinderDownload Previous Next Activity Details You have viewed this topic Dec 2 Provided $3,950 in consulting services to Gomez Company on account. 3 Paid $1,025 cash to Hillside Mall for Jamisons share of mall advertising costs. 4 Paid $400 cash for minor repairs to the companys computer 10 Purchased $1,100 of computer supplies on credit from Harris Office Products. 14 Paid cash to her employee for six days of work at the rate of $125 per day. 15 Was notified by Alexs Engineering Company that it was hiring Jamison based on Jamisons bid of $7,000. Alexs paid $1,500 cash in advance to Jamison Consulting. 20 Completed a project for Lyn Corporation and received $5,625 cash. 28 Received $3,000 cash from Gomez Company as payment on its account. 29 Reimbursed an employee $193 for business automobile mileage. 31 C. Jamison withdrew $1,500 cash from the company for personal use.

Adjusting Entries

In your general journal for Jamison Consulting, journalize the necessary adjusting entries as of December 31.After you have journalized the adjusting entries in the general journal, post them into Jamison Consultingsgeneral ledger.

Adjustments will need to be made for each of the following:

Inventory

The December 31 inventory count of computer supplies shows $320 still on hand.

Rent

Three of the four months of prepaid rent has expired.

Insurance Premium

Three months have expired since the 12-month insurance premium was paid in advance.

Wages

Since December 31 falls on a Thursday, Jamison Consultings only employee has worked four days this week for which she has not been paid. (Her daily rate is $125.)

Depreciation of Computer Equipment

The computer system, acquired for $8,000 on October 1, is expected to have a four-year life with no salvage value.

Depreciation of Office Equipment

The office equipment, acquired for $20,000 on October 1, is expected to have a five-year life with no salvage value.

TRANSACTION JUST FOR DECEMBER. ILL COPY AND PASTE FULL QUESTION. I JUST NEED HELP WITH PART 4 OF THE PROJECT. I TURNED IN THE OTHER PARTS BUT IM NOT GETTING THE SAME NUMBERS SHE IS FOR 7.8. AND 9.