Can someone please confirm i created this general ledger & general journal correctly based off the instructions thus far? I have already done all the work.. i just want to confirm it is correct... if it is wrong can you please direct me where exactly i am wrong and why? Preferably in Excel or written format... please see ALL ATTACHED images prior to replying or reporting question as incomplete. i have the following attached: ledger, journal, post closing trial balance, balance sheet

Please see the attached images for general ledgers i created, general journal, trial balance, adjusted trial balance, balance sheet, income statement, and statement of retained earnings provided... the information i was originally provided to make these documents is images 1-5...

1.) Set up the accounts for the general ledger and insert the beginning balances for the accounts from the post-closing trial balance. The balances from the post-closing trial balance become the beginning balances of the accounts for the next account period.

2. Journalize the following transactions in the general journal.

1. On January 1, 2018, a payment in cash for $12,000 is made for prepaying rent for the entire year 2018.
2. On January 4, 2018, accounting services are performed and payment is received in cash for the amount of $1,900.
3. On January 9, 2018, a payment in cash for advertising is made in the amount of $850.
4. On January 10, 2018, office supplies are purchased in the amount of $75 with cash.
5. On January 14, 2018, accounting services are performed and payment is received in cash for the amount of $2,725.
6. On January 20, 2018, the telephone bill for the amount of $660 is received and paid with cash.
7. On January 20, 2018, the utility bill for $2,925 is received. The bill won't be paid until it's due on February 15, 2018.
8. On January 27, 2018, accounting services are performed on account in the amount of $3,750.
9. On January 28, 2018, a payment in cash for $1,500 is made for a bill from an advertising agency.

3. Post the general journal entries from the journal to the corresponding general ledger accounts. Use the Post Ref. column to ensure that each line item of the journal entries is posted correctly to each general ledger account. If the debits equal the credits for a particular journal entry and the information is posted correctly, the total of the debits should equal the total of the credits in the general ledger.

4. Calculate the balances in the general ledger accounts.

5. Make an unadjusted trial balance from the balances in the general ledger accounts.

6. Journalize the following adjusting journal entries in the general journal, being sure that the debits equal the credits:

1. Calculate and make the adjustment for the amount of prepaid rent that has been used.
2. Make an adjusting journal entry in the amount of $1,000 for depreciation of the vehicles.
3. Make an adjusting journal entry in the amount of $100 for depreciation of the equipment.

7. Post the adjusting journal entries to the respective general ledger accounts.

8. Calculate the new balances in the general ledger accounts. Make an adjusted trial balance from the balances in the general ledger accounts using another copy of the form used to create the unadjusted trial balance.

9. Create the income statement for J & L Accounting, Inc. using the information from the adjusted trial balance.

10. Post the closing journal entries in the general journal to close the revenue, expense, and dividend accounts to the retained earnings account.

11. Post the closing journal entries to the respective general ledger accounts.

The following financial statements are provided from the prior accounting period for J & L Accounting, Inc.: a. Post-closing trial balance b. Balance sheet c. Income statement d. Statement of retained earnings J & L Accounting, Inc. Post-Closing Trial Balance December 31, 2017 Balance Account Title Debit Credit Cash, Business Checking $20,500.00 Accounts Receivable Prepaid Rent Vehicles 48,000.00 Accumulated Depreciation, Vehicles $12,000.00 Equipment 3,600.00 Accumulated Depreciation, Equipment 600.00 Accounts Payable Common Stock 38,000.00 Retained Earnings 21,500.00 Dividends Service Revenue Advertising Expense Rent Expense Office Supplies Expense Telephone Expense Utilities Expense Depreciation Expense Totals $72,100.00 $72,100.00J & L Accounting, Inc. Balance Sheet As of December 31, 2017 Assets Cash, Business Checking $20,500.00 Accounts Receivable 0.00 Prepaid Rent 0.00 Vehicles $48,000.00 Less: Accumulated Depreciation, Vehicles 12,000.00 36,000.00 Equipment 3,600.00 Less: Accumulated Depreciation, Equipment 600.00 3,000.00 Total Assets $59,500.00Liabilities Accounts Payable $0.00 Total Liabilities $0.00 Stockholders' Equity Common Stock $38,000.00 Retained Earnings 21,500.00 Total Stockholders' Equity $59,500.00 Total Liabilities and Stockholders' Equity $59,500.00J & L Accounting, Inc. Income Statement For the Month Ending December 31, 2017 Revenues Service Revenue $10,275.00 Expenses Advertising Expense $2,300.00 Rent Expense 1,000.00 Office Supplies Expeses 300.00 Telephone Expense 750.00 Utilities Expense 3,200.00 Total Expenses 8,650.00 Net Income $1,625.00J & L Accounting, Inc. Statement of Retained Earnings For the Month Ending December 31, 2017 Retained Earnings December 1, 2017 $19,875.00 Add: Net Income 1,625.00 Subtotal 21,500.00 Less: Dividends 0.00 Retained Earnings, December 31, 2017 $21,500.005 years projections - Excel - X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign in E19 X V fc A B C D E F G H I J K L M IN Adjusted trial Balance Account Titles Debit Credit Cash $ 10,460.00 Accounts Receivable $ 3,750.00 Prepaid rent $ 11,000.00 Office supplies S 75.00 Accumulated Depreciation-Vehicles $ 1,000.00 Accumulated Depreciation-Equipment $ 100.00 Accounts Payable $ 2,925.00 Service Revenue 8,375.00 Rent expense $ 1,000.00 Advertising Expense S 2,350.00 Telephone expense 660.00 15 Utilities expense 2,925.00 16 Depreciation-Vehicle S 1,000.00 17 Depreciation-Equipment $ 100.00 18 19 TOTAL $ 22,860.00 $ 22,860.00 20 Activate Windows Sheet2 Sheet4 Sheet5 Sheet6 Sheet3 + Go to Settings to activate Windows. READY + 124% H Type here to search WE P 3 A B DENG 3:51 pm 23/08/2020II Cash Account Debit Credit Item Amount Date Item Amount Service Revenue 1900 1/1/2018 Prepaid Rent 12000 Service Revenue 2725 1/9/2018 Advertising Expense 850 1/10/2018 Ofce Supplies 75 1/20/2018 Telephone Expense 660 1/27/2020 Advertising Expense 1500 15085 Service Revenue Debit Credit Item Amount Date Item Amount 1/4/2018 Cash 1900 1/14/2018 Cash 2725 1/27/2018 Accounts Receiveable 3750 8375 Prepaid Rent Debit Credit Date Item Amount Date Item Amount 1/1/2018 Cash 12,000 1/31/2018 Rent Expense 1000 Balance 12,000 Balance 1000 Advertising Expense Debit Credit Date Item Amount Date Item Amount 1/92018 Cash 850 1/272018 Cash 1500 Balance 2350 Balance 0 Office Supplies Debit Credit Date Item Amount Date Item Amount 1/10/2018 Cash 75 Balance 75 Balance 01/20/2018 Deb Accounts Payable Debit Credit Date Item Amount Date Item Amount 1/20/2018 Utilites Expense 2925 Utilities Expense Debit Credit Date Item Amount Date Item Amount 1/20/2018 Accounts Payable 2925 3 Accounts Receivable Debit Credit Date Item Amount Date Item Amount 6 1/27/2018 Service Revenue 3750 57 8 Balance 3750 Balance 0 0 Rent Expense Debit Credit 72 Date Item Amount Date Item Amount 3 1/31/2018 Prepaid Rent 1000 4 5 Balance 1000 Balance 0 6 7 Vehicle Depreciation 8 Debit Credit 9 Date Item Amount Date Item Amount 1/31/2018 Vehicle Depreciation 1000 31 32 Balance 1000 Balance 0 33I H I?) L U I: I' Accumulated Depreciation (Vehicle) i Debit Credit '. Date Item Amount Date Item Amount 1/31/2018 1000 a mo : I Equipment Depreciation Debit Credit Date Item Amount Date Item Amount 1/31/2018 100 : mo 0 : '. Accumulated Depreciation (Equipment) r Debit Credit 3 Date Item Amount Date Item Amount 1 1/31/2018 100 2 3_ 0 100 1 Cash 1,900 I U '1 __ Accounts Post Ref Debit Credit Prepaid Rent 12,000 Cash 12,000 Service Revenue Advertising Expense 850 1,900 Cash Office Supplies Cash - Cash 75 2,725 350 75 Service Revenue Telephone Expense 660 2,725 Cash 660 Utilites Expense 2925 Accounts Payable 2925 To record utility bill received Accounts Receivable 3750 Service Revenue 3750 Accounting services are performed on account Advertising Expense 1500 Cash 1500 To record advertisements paid Rent Expense 1000 Prepaid Rent 1000 To record rent expense for the month Depreciation Expense (Vehicle) 1000 Accumulated Depreciation (Vehicle) 1000 To record vehicle depreciation Depreciation Expense (Equipment) 100 Accumulated Depreciation (Equipment) 100 To record equipment depreciation 1 Income Accounts | Service Revenue 8375 2 Profit& Loss 8375 l l Expenses Accounts 3 Profit& Loss 8035 _ 5 Advertising I l 2350 ' Telephone 660 5 Utilities 2925 3 Vehicle Depreciation 1000 1 Equipment Depreciation 100 | Prepaid Rent 1000