Create T Accounts for each account in the Chart of Accounts for case study 3 Enter the following opening balances in the T Accounts you created AND the Ledger Accounts Cash $20,000 Common Stock $15,000 Retained Earnings $5,000 Step 1 Journalize each transaction in the General Journal(pages 37 and 39) You DO NOT need a description line for each journal entry Remember to SKIP a row between each journal entry DO NOT create an entry for the May 25th transaction (It does not provide enough information) Step 2 Post each journal entry in the T accounts you created Step 3 Post each journal entry to the General Ledger Accounts (pages 45, 47, and 49) Step 4 Prepare an Unadjusted Trial Balance (page 55) Make sure you use the balances in the General Ledger Accounts to get the balances for the UTB Step 5 Journalize each adjusting entry in the General Journal titled Adjusting Entries (page 41) The adjustments are for May only (for example, the depreciation adjustment is for May only) To complete tax entry you need to know your Income from Operations which is $7,850 (The rate amount is $7,850 X 40 ) Step 6 Post the Adjusting Journal Entries to the T Accounts you created Step 7 Post the Adjusting Entries to the General Ledger Accounts (pages 45, 47, and 49) Step 8 Prepare an Adjusted Trial Balance (page 57) Make sure you use the balances in the General Ledger Accounts to get the balances for the ATB Step 9 Prepare the Income Statement, Statement of Stockholder's Equity, and Balance Sheet Make sure you enter a header on each Statement (Company Name, Statement Name, and Period the report is for Make sure you use your totals form the Adjusted Trial Balance and Ledger Balances to prepare your statements Step 10 Journalize the Closing Entries required to close out the temporary accounts (pages 43) Step 11 Post the closing entries to the T Accounts you created Step 12 Post the closing entries to the General Ledger Accounts (pages 45, 47, and 49) Once you close the temporary accounts there should be a zero balance in all revenue and expense accounts Step 13 Prepare the Post Closing Trial Balance Sassafras Sis, Inc Chart of Acounts Income Start AB 4 M Expenses 25 Accum Det 2 Ar a payable 3 Schers' Equity Credit Swara Sh o esm ased in one, and on the following fastern core the entire way for My ma n and 2 econd the following for the month of May in the Ger 1 ed $25 000 cashing for Carmen Sock 1 Pad cash $1 200 for th e policy Pald cash for various expenses $1 000 5 Punased supplies 5,000 on account 10 Pad cash for 20 Neveronders oek 12 000 1 000 22 Received from customer for future work 4 0 00 chrom predown account 25 Social media ceed000 V ingan up of Spare 30 Board of Decoded and ched $1,000 ESCLUDE THE DESCRIPTION AWAS LEAVE A SPACE BETWEEN SEPARATE TRANSACTIONS 2 Putton ede 1821 Frode the industrial Record Mung Entresol 31 Se on hand a n d $250 31 Ocean Fond Expense 31 d e foranth Deferred to Prepadanpense 31 of Undevu Deferred Customer and you 1 hour design work on one contract, 5300 hour SP Entries to the General Ledger 6 Produce the Add ral Balance 7 Producencome S t ance Show Redon Page the componenty Radang Product Trance Sassafras Sis, Inc Chart of Acounts Income Start AB 4 M Expenses 25 Accum Det 2 Ar a payable 3 Schers' Equity Credit Swara Sh o esm ased in one, and on the following fastern core the entire way for My ma n and 2 econd the following for the month of May in the Ger 1 ed $25 000 cashing for Carmen Sock 1 Pad cash $1 200 for th e policy Pald cash for various expenses $1 000 5 Punased supplies 5,000 on account 10 Pad cash for 20 Neveronders oek 12 000 1 000 22 Received from customer for future work 4 0 00 chrom predown account 25 Social media ceed000 V ingan up of Spare 30 Board of Decoded and ched $1,000 ESCLUDE THE DESCRIPTION AWAS LEAVE A SPACE BETWEEN SEPARATE TRANSACTIONS 2 Putton ede 1821 Frode the industrial Record Mung Entresol 31 Se on hand a n d $250 31 Ocean Fond Expense 31 d e foranth Deferred to Prepadanpense 31 of Undevu Deferred Customer and you 1 hour design work on one contract, 5300 hour SP Entries to the General Ledger 6 Produce the Add ral Balance 7 Producencome S t ance Show Redon Page the componenty Radang Product Trance

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Create T Accounts for each account in the Chart of Accounts for case study 3. Enter the following opening balances in the T Accounts you

Create T Accounts for each account in the Chart of Accounts for case study 3.
Enter the following opening balances in the T Accounts you created AND the Ledger Accounts:
- Cash - $20,000
- Common Stock - $15,000
- Retained Earnings - $5,000

Step 1: Journalize each transaction in the General Journal(pages 37 and 39)
- You DO NOT need a description line for each journal entry.
- Remember to SKIP a row between each journal entry.
- DO NOT create an entry for the May 25th transaction (It does not provide enough information).
Step 2: Post each journal entry in the T accounts you created
Step 3: Post each journal entry to the General Ledger Accounts (pages 45, 47, and 49)
Step 4: Prepare an Unadjusted Trial Balance (page 55)
- Make sure you use the balances in the General Ledger Accounts to get the balances for the UTB
Step 5: Journalize each adjusting entry in the General Journal titled "Adjusting Entries"(page 41)
- The adjustments are for May only (for example, the depreciation adjustment is for May only)
- To complete tax entry you need to know your "Income from Operations" which is $7,850. (The rate amount is $7,850 X 40%)
Step 6: Post the Adjusting Journal Entries to the T Accounts you created
Step 7: Post the Adjusting Entries to the General Ledger Accounts (pages 45, 47, and 49)
Step 8: Prepare an Adjusted Trial Balance (page 57)
- Make sure you use the balances in the General Ledger Accounts to get the balances for the ATB
Step 9: Prepare the Income Statement, Statement of Stockholder's Equity, and Balance Sheet
- Make sure you enter a header on each Statement (Company Name, Statement Name, and Period the report is for.
- Make sure you use your totals form the Adjusted Trial Balance and Ledger Balances to prepare your statements!
Step 10: Journalize the Closing Entries required to close out the temporary accounts (pages 43)
Step 11: Post the closing entries to the T Accounts you created
Step 12: Post the closing entries to the General Ledger Accounts (pages 45, 47, and 49)
- Once you close the temporary accounts there should be a zero balance in all revenue and expense accounts.
Step 13: Prepare the Post Closing Trial Balance.

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Sassafras Sis, Inc Chart of Acounts Income Start AB 4 M Expenses 25 Accum. Det 2 Ar a payable 3 Schers' Equity Credit Swara Sh o esm ased in one, and on the following fastern core the entire way for My ma n and 2 econd the following for the month of May in the Ger 1 ed $25.000 cashing for Carmen Sock 1 Pad cash $1.200 for th e policy Pald cash for various expenses $1.000 5 Punased supplies 5,000 on account 10 Pad cash for 20 Neveronders oek 12.000 1.000 . 22 Received from customer for future work 4 0 00 chrom predown account 25 Social media ceed000 V ingan up of Spare 30 Board of Decoded and ched $1,000 ESCLUDE THE DESCRIPTION AWAS LEAVE A SPACE BETWEEN SEPARATE TRANSACTIONS 2 Putton ede 1821 Frode the industrial Record Mung Entresol 31 Se on hand a n d $250 31 Ocean Fond Expense 31 d e foranth Deferred to Prepadanpense 31 of Undevu Deferred Customer and you! 1 hour design work on one contract, 5300 hour SP Entries to the General Ledger 6 Produce the Add ral Balance 7 Producencome S t ance Show Redon Page the componenty Radang Product Trance Sassafras Sis, Inc Chart of Acounts Income Start AB 4 M Expenses 25 Accum. Det 2 Ar a payable 3 Schers' Equity Credit Swara Sh o esm ased in one, and on the following fastern core the entire way for My ma n and 2 econd the following for the month of May in the Ger 1 ed $25.000 cashing for Carmen Sock 1 Pad cash $1.200 for th e policy Pald cash for various expenses $1.000 5 Punased supplies 5,000 on account 10 Pad cash for 20 Neveronders oek 12.000 1.000 . 22 Received from customer for future work 4 0 00 chrom predown account 25 Social media ceed000 V ingan up of Spare 30 Board of Decoded and ched $1,000 ESCLUDE THE DESCRIPTION AWAS LEAVE A SPACE BETWEEN SEPARATE TRANSACTIONS 2 Putton ede 1821 Frode the industrial Record Mung Entresol 31 Se on hand a n d $250 31 Ocean Fond Expense 31 d e foranth Deferred to Prepadanpense 31 of Undevu Deferred Customer and you! 1 hour design work on one contract, 5300 hour SP Entries to the General Ledger 6 Produce the Add ral Balance 7 Producencome S t ance Show Redon Page the componenty Radang Product Trance