For Tuesday do the problem below. The attached Excel file has templates for the journal entries and ledger accounts as well as the worksheet you'll use for the Trial Balance (Unadjusted, you only have to do the first 2 columns, everything else leave blank), and the financial statements. These are all generic, so you'll have to fill in account names in the Ledger accounts (there are more accounts than you'll need so there will be some left blank, and the same for the Trial Balance and the financial statements, you have to fill in the names of the accounts and there will be more line items than you need. If you're not sure about whether to debit or credit an account look at the worksheet from one of the previous problems. If you have any questions or issues don't hesitate to contact me.

On January 1, 2022, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month:

Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $40,000.

Paid rent on office and equipment for the month, $6,000.

Purchased supplies on account, $3,200.

Paid creditor on account, $1,750.

Earned fees, receiving cash, $18,250.

Paid automobile expenses (including rental charge) for month, $1,880, and miscellaneous expenses, $420.

Paid office salaries, $5,000.

Determined that the cost of supplies used was $1,400.

Withdrew cash for personal use, $2,000.

INSTRUCTIONS

Journalize entries for transactions (a) through (i), using the following account titles: Cash; Supplies; Accounts Payable; Sharon Matthews, Capital; Sharon Matthews, Drawing; Fees Earned; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous Expense. Explanations may be omitted.

Post the Journal entries to the Ledger accounts, using the account titles in (1). Determine the account balances after all posting is complete. Accounts containing only a single entry do not need a balance.

Prepare an unadjusted trial balance.

Prepare the financial statements.

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