can someone help me create a sheet and answer these questions please??? #DESPERATE

your help would be DEEPLY appreciated! thanks!!

ohanna Equipment Rentals Susquehanna CHENSIVE ACCOUNTING CYCLE PRODU called Susquehanna A COMPREHENSIVE ACC December 1, Year 1, John and P Equipment Rentals. The new com chasing the assets and taking over the was going out of business. The new and Patty Driver formed a corporation called w corporation was able to begin operations immedi location of Rent-It, an equipment rental com The newly formed company uses the following acco ations immediately by pur- Cash Accounts Receivable Prepaid Rent Unexpired Insurance Office Supplies Rental Equipment acumulated Depreciation: Rental Equipment Notes Payable Accounts Payable Interest Payable Salaries Payable Dividends Payable Umearned Rental Fees Income Taxes Payable Capital Stock Retained Earnings Dividends Income Summary Rental Fees Earned Salaries Expense Maintenance Expense Utilities Expense Rent Expense Office Supplies Expense Depreciation Expense Interest Expense Income Taxes Expense The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December, the corporation entered into the following transactions Dec 1 Dc Dec. 1 nins advance rent on the rental yard Dec 4 Issued to John and Patty Driver 20,000 shares of capital stock in exchange for total of $240,000 cash. Purchased for $288.000 all of the equipment formerly owned by Rent- $168,000 cash and issued a 1-year note payable for $120,000. The note, plus 12 months of accrued interest, are due November 30, Year 2. Paid $14.400 to Shapiro Realty as three months' advance rent on and office formerly occupied by Rent-It. Purchased office supplies on account due in 30 days. (These supplies are expe Office Supplies asset account.) Received $9,600 cash as advance pay Construction Company. (Credit Unearned Rental Paid salaries for the first two weeks in December Excluding the McNamer advance, equipment first 15 days of December amounted to $21.0 received in cash omice supplies on account from Modern Office Co., $1,200. Pay ys. (These supplies are expected to last for several months Dec. 8 vance payment on equipment rental from MeName Dec. 12 Paid salaries for Dec. 15 15 ce, equipment rental fees earned during the unted to $21,600, of which $14,400 was Dec. 17 Purchased on acco $720 in parts needed to repair account from Earth Movers, Inc., $720 in parts an expense account.) Payment is due in 10 rental tractor. (Debit an expense aco Collected $2,400 of the accounts Dec. 23 s receivable recorded on December 15. per day, to be paid Prepare keep the backhoe Prepar solute tion po Prepar on Landscaping uit filed on behalf working hours on parked construction Prepar 6. Durin appea Would Dec. 26 Rented a backhoe to Mission Landscaping at a price of $300 per de when the backhoe is returned. Mission Landscaping expects to keep the for about two or three weeks. Dec. 26 Paid biweekly salaries, $6,240. Dec. 27 Paid the account payable to Earth Movers, Inc., $720. Dec. 28 Declared a dividend of 12 cents per share, payable on January 15, Year Dec. 29 Susquehanna Equipment Rentals was named, along with Mission Land and Collier Construction, as a co-defendant in a $30,000 lawsuit filed of Kevin Davenport. Mission Landscaping had left the rented backhoe fenced construction site owned by Collier Construction. After working December 26, Davenport had climbed the fence to play on parked con equipment. While playing on the backhoe, he fell and broke his arm. The extent of the company's legal and financial responsibility for this accide any, cannot be determined at this time. (Note: This event does not require journal entry at this time, but may require disclosure in notes accompan statements.) Dec. 29 Purchased a 12-month public liability insurance policy for $11,520. This po protects the company against liability for injuries and property damage caus by its equipment. However, the policy goes into effect on January 1, Year 2. affords no coverage for the injuries sustained by Kevin Davenport on December 26. Dec. 31 Received a bill from Universal Utilities for the month of December, $840. Payment is due in 30 days. Dec, 31 Equipment rental fees earned during the second half of December amounted to $24.000, of which $18,720 was received in cash. Data for Adjusting Entries a. The advance payment of rent on December 1 covered a period of three months. b. The annual interest rate on the note payable to Rent-It is 6 percent. c. The rental equipment is being depreciated by the straight-line method over a period of eight years. d. Office supplies on hand at December 31 are estimated at $720. e. During December, the company earned $4,440 of the rental fees paid in advance by McNamer Construction Company on December 8. f. As of December 31, six days' rent on the backhoe rented to Mission Landscaping on Decem ber 26 has been earned. g. Salaries earned by employees since the last payroll date (December 26) amounted to $1,680 al month-end. h. It is estimated that the company is subject to a combined federal and state income tax rate 40 percent of income before income taxes (total revenue minus all expenses other than inco taxes). These taxes will be payable in Year 2. Instructions a. Perform the following steps of the accounting cycle for the month of December. 1. Journalize the December transactions. Do not record adjusting entries at this poin. 2. Post the December transactions to the appropriate ledger accounts. 3. Prepare the unadjusted trial balance columns of a 10-column worksheet for the year December 31. 4. Prepare the necessary adjusting entries for December. 5. Post the December adjusting entries to the appropriate ledger accounts. 6. Complete the 10-column worksheet for the year ended December 31. the year ended f retained earnings for the year ended December Prepare an income statem 31, and a balance sheet Prepare required disclos December 31 financial statements. Your h of the following areas: (1) deprecia- solution should include a se nice policy, (2) maturity dates of major liabili same statement and statement of retained earning balance sheet (in report form) as of December 31. mired disclosures to accompany the December 31 financial uld include a separate note addressing each of the following area maturity dates of major liabilities, and (3) potential liability due to Denim litigation Prepare closing entries and post to ledger accounts. . Prepare an after-closing trial balance as of December 31. During December, this company's cash balance has fallen from $240,000 to $78,000. Does it appear headed for insolvency in the near future? Explain your reasoning. Would it be ethical for Patty Driver to maintain the accounting records for this company, or must they be maintained by someone who is independent of the organization