Case Study/Comprehensive Questions 18. Consider the following ledger account balances extracted from the 20 book of Epic Computer Trader on December 1, 2009, Ledger Summary Balance (Rs.) Accounts Heads Account payable Account receivable Automobiles Buildings Capital stock Cash Commissions expenses Commissions revenue Dividends Equipment Heat light and water expenses Income tax expenses Income tax payable Interest revenue Land Note payable Office salaries expenses Office supplies Retained earnings 7,650 5,325 9,200 150,000 100,000 10,500 2,600 12,750 2,000 85,000 1,400 1,700 2,500 1,300 50,000 90,000 6,000 500 110,025 During December, the company completed the following transactions: December 1 December 2 December 7 Paid for advertisement, Rs. 340 Paid rent for December, Rs. 500 Received cash from customer billed earlier Rs. 2,900 December 14 Billed customer for service provided, Rs. 4,190 December 15 Purchased equipment on credit, Rs. 3,500 December 28 Paid salary for December, Rs. 2,400 December 29 Received advance payment form customer December 30 December 30 Rs. 680 Paid electricity bill for December, Rs. 450. Declared and paid dividend Rs. S00 Required a. Post above transactions directly into necessary T accounts b. Prepare trial balance for the month of December. c. Prepare Multistep income statement d. Prepare classified balance sheet