As the bookkeeper for Jacks Landscaping, you have been asked to complete the entire accounting cycle for Jack from the following information:

2017

January 1 Jack invested $7,000 cash & $6,000 worth of landscaping equipment in the

company.

Paid rent for three months in advance for garage space, $2,000.

4 Purchased office equipment on account from Ling Corp, $7,200.

6 Purchase landscaping supplies for $700 cash.

8 Collected $15,000 from landscaping local shopping centers.

12 Jack White, Owner, withdrew $1,000 from the business for personal use.

20 Landscaped North East Co. office space; payment not to be received until March, $5,000.

26 Paid salaries to employees, $1,800.

28 Paid Ling Corp, one-half the amount owed for equipment.

29 Advertising bill received from Bush Co. but will not be paid until March, $900.

30 Paid telephone bill, $210.

Data for Adjustments:

Landscaping supplies on hand $400.

Rent expired $600.

Depreciation on office equipment, $120.

Depreciation on landscaping equipment, $100.

Accrued salaries due not yet paid $190.

REQUIREMENTS:

Record transactions on to the trial balance column on the worksheet. (You will have to set up T-accounts and then transfer the balances. (30)

Record adjustments on to the Adjustments column on the worksheet. (15)

Complete the worksheet. (5)

Prepare a January income statement, statement of owners equity, and balance sheet. (5,5,10)

From the worksheet, record closing entries on the journal page.(20)

Prepare the post closing trial balance. (10)