Getting ready for the upcoming holiday season is traditionally a busy time for greeting card companies, and it was no exception for Kate. The following transactions occurred during the month of October:

$1.$ Hired an assistant at an hourly rate of $$10$ per hour to help with some of the computer layouts and administrative chores.

$2.$ Supplements her business by teaching a class to aspiring card designers. She charges and receives a total of $$450.$

$3.$ Delivers greeting cards to several new customers. She bills them a total of $$3,500.$

$4.$ Pays a utility bill in the amount of $$250$ that she determines is the business portion of her utility bill.

$5.$ Receives an advance deposit of $$500$ for a new set of cards she is designing for a new customer.

$6.$ Pays her assistant $$200$ for the work done this month.

$7.$ Determines that the assistant has worked $10$ additional hours this month that have not yet been paid.

$8.$ Ordered and receives additional supplies in the amount of $$1,000.$ These were paid for during the month.

$9.$ Counts her remaining inventory of supplies at the end of the month and determines the balance to be $$300.$

Don$$t forget to consider the supplies inventory balance at September $30,$ from Chapter $2.($Hint: This expense will be a debit to Cost of Goods Sold.$)$

$10.$ Records the adjusting entries for depreciation and insurance expense for the month.

$11.$ Pays herself a salary of $$1,000.$

$12.$ Paid monthly rent of $$1,200$ in cash.

$13.$ Receives her next utility bill during December and determines $$85$ applies to October$$s operations.

$14.$ Deciding she needs a little more cash, Kate pays herself a $$100$ dividend.

Required

Using the information that you gathered and the general ledger accounts that you prepared through Chapter $2,$ plus the new information above, complete the following:

a$.$ Journalize the above transactions and adjusting entries.

b$.$ Post the October transactions and adjusting entries. $($Use the general ledger accounts prepared in Chapter $2$ and add any new accounts that you may need.$)$

c$.$ Prepare a trial balance as of October $31.$

d$.$ Prepare an income statement and a statement of stockholders$$ equity for the two$-$month period ending October $31,$ and a balance sheet as of October $31.$

e$.$ Prepare the closing entries as of October $31.$

f$.$ Prepare a post$-$closing trial balance.