\fRequirement General General St of Ret Journal Ledger Trial Balance Income St Earnings Balance Sheet Income statement tab: Select the financial statement elements and accounts properly included on the income statement. The balances automatically populate from the trial balance selected. Determine if the company reported a net income or a net loss. Show less A Adjusted Mont Alto Campus Photography Income Statement For the month ended December 31, 2018 $ 0 $ 0Juan Orchid is a photographer who has started a new photography business. On December 1, 2018, Juan decided to incorporate under the name Mont Alto Campus Photography. Juan has hired you to provide accounting services for the company. Read the instructions at the top of each tab. Prepare the required journal entries for the month of December, the necessary adjusting entries and closing entries as of December 31, and a complete set of financial statements, to include all proper labels. Show less A Requirement General General Journal Ledger Trial Balance Income St St of Ret Earnings Balance Sheet Requirement: General Journal tab: Juan Orchid is a photographer who has started a new photography business. On December 1, 2018, Juan decided to incorporate under the name Mont Alto Campus Photography. Juan has hired you to provide accounting services for the company. Transactions 1-11: Prepare journal entries to record transactions for the first month in business. Transactions 12-15: Prepare the required adjusting entries. Transactions 16-19: Prepare the necessary closing entries. General Ledger tab: Entries are posted automatically to the general ledger. Abnormal balances are indicated in brackets. Review the general ledger accounts for normal balances. Trial balance tab: Use the dropdown button to review the unadjusted, adjusted, or post-closing trial balance. Review for normal ending balances. Income statement tab: Select the financial statement elements and accounts properly included on the income statement. The balances automatically populate from the trial balance selected. Statement of retained earnings tab: Select the proper label for each value appearing on the statement of retained earnings. Make sure the ending balance agrees with the general ledger balance. Balance sheet tab: Select the financial statement elements and accounts properly included on the balance sheet. The balances automatically populate from the trial balance selected.Requirement General General Ledger Trial Balance Income St St of Ret Journal Earnings Balance Sheet Statement of retained earnings tab: Select the proper label for each value appearing on the statement of retained earnings. Make sure the ending balance agrees with the general ledger balance. Note: If post-closing is selected, only the ending retained earnings balance will be displayed. Show less A Adjusted Mont Alto Campus Photography Statement of Retained Earnings For the month ended December 31, 2018 Retained earnings, December 1, 2018 $ 0 + (1,300) Retained earnings, December 31, 2018 $ (1,300)Juan Orchid Photography Journal Entries December 31st Date Particular Amount (DR) Amount(Cr) 1-Dec Cash 34000 To Common Stock 34000 ( amount contributed by Ike Cream in exchange of 10000 common stock 1-Dec Office Equipment 9720 To Cash 9720 Being amount of Equipment purchases) 1-Dec Prepaid Rent 2100 To Cash 2100 (Being amount of rent paid in advance for the first two months) 4-Dec Cash 3400 To Unearned Service Revenue 3400 (Being amount of cash received from Kim Jong and Vince Molinari for their june wedding) 9-Dec Cash To Unearned Service Revenue 2160 Being amount received from Edward Taylor for late December photo shoot) 2160Click to close this tab; Dpon-click to close all tabs except this one e 1580 [Being amount of photography supplies received on account] 1580 15Dec Accounts Receivable To Service Revenue 20800 [Being amount duefor service performed fl 20800 18Dec Electricity Expenses To Electricity Expenses Payable 1580 [Being amount of Electricity Expenses Payable] 1680 28~Dec Accounts Payable To Cash 3'00 [Being amount paid on account] T00 30-Dec Salary 1250 To Cash 1250 [Being amount paid for staff asistant's salary] 30Dec Dividend 1300 To Cash 1 300 [Being amount of dividend paid] Adjusted Journal Entries Date Particular 31-Dec Depreciation ($9720/3) 3240 To Accumulated Depreciation 3240 (Being amount of Accumulated Depreciation) 31-Dec Rent (2100/2) 1050 To Prepaid Rent 1050 ( Being amount of December rent) 31-Dec Unearned Service Revenue 2160 To Service Revenue 2160 ( Being amount of service performed against which advance received from photo shoot and Edward Tylor) 31-Dec Supplies Expenses ($1680-$340) 1340 To Supplies 1340 ( Being amount of Supplies Expenses) 31-Dec Revenue=($20800+$2160) 22960 To Income Summary 22960 (Being amount of revenue transfer to income summary account)31Dec IncomeSummary 5590 To Electricity Expenses 1580 ToSaIary Expenses 125D To Supplies Expenses To Rent To Depreciation [59721335] [Being amount of expenses transfer to income summary account] Income Summary [2295015801250134010502?0] To Retained Earnings [Being Income transfer to income summary account] Retained Earnings To Dividends [Being amount of Dividend]