Dec. 1^st Collected $678 from Franklin from a previous engagement in Oct.

Dec. 2^nd Paid $1,538 on Gustos Inc. invoice from a previously recorded transaction with check #1301.

Dec 3^rd Paid December rent of $2,129 with check #1302.

Dec 4^th Completed additional work for Washington, sent invoice #Y77P for $1,466 due in 1 month.

Dec. 5^th Paid employee from work previously expensed in Nov. with payment due Dec. 5^th using check #1303.

Dec. 8^th Purchased land on a note for $29,822 to be used for future construction of a new office building. Land and Notes payable will have account numbers of 150 and 240, respectively.

Dec. 9^th Paid $1,201 to cover all utilities for the month of Dec using check #1304.

Dec. 10^th - Completed $599 worth of work for a repeat customer who pays cash immediately upon completion.

Dec. 11^th - Collected $954 from Washington from a previous engagement in Nov.

Dec. 12^th Our employee earned two weeks of pay amounting to $1,543, to be paid Dec. 23^rd. *employee took vacation from Dec. 15^th-Dec. 31^st. No pay will accrue*

Dec. 15^th - Leah Tyler, the owner, withdrew $3,212 for personal use using check #1305.

Dec. 16^th Completed a large job for Franklin for $11,221. Sent invoice #Y78P due Jan. 31^st.

Dec. 22^nd Franklin paid $2,331 to pay off some of his balance due.

Dec. 23^rd Paid our employee for the work expensed Dec. 12^th.

Dec 24^th-Dec. 31^st Owner took off the rest of the year.

Adjustments

1. The equipment was used for the third year.

2. Prepaid insurance was adjusted for Oct-Dec usage.

3. Unearned revenue was updated to show 3 months of work completed.

4. A final count of supplies showed $232 remaining.

Part 1 instructions

1. Open the Excel attachment named Student fill-in template

2. Transfer the opening trial balance amounts to the T-Accts

3. Journal and post to the T-Accts the December and adjusting transactions

4. Total each T-Acct and provide the equation total at the top in the highlighted cells.

Check Figure The cash T-Acct final balance should be $ 29,439

1. Prepare the Adjusted trial balance

2. Prepare the Income Statement, Statement of Retained Earnings, and the Balance Sheet.

3. Prepare the Closing journal entries and Post-closing trial balance