help needed for CYcleproject Intermidiate Accounting

1. You are beginning a new corporation starting Jan 1st. The company name is (your name) Inc. Enter the transactions listed on the transaction sheet into the general journal. 2. Post the transactions to the general ledger. 3. Prepare a trial balance 4. Journalize the month end adjusting entries in the general journal. Post them to the general ledger. 5. Prepare an adjusted trial balance. 5. Prepare an income statement, retained earnings statement, & balance sheet. 6. Prepare the closing entry in the general journal then post in the general ledger. 7. Prepare a post closing trial balance. Date Transaction 1-Jan Issued 25,000 shares of $1 par common stock for $10 each Hired a receptionist at a salary of $600 payable each week. Purchased $200,000 equipment paying 10% down payment and signed an 8% 10 year note for the remainder , p Set up a $200 petty cash fund Paid $4,800 cash for a 24 month insurance policy effective Jan 1st of this year ( a nominal account was debited) Received $50,000 from clients as an advanced payment for services to be performed (a real account was credite 7-Jan Paid receptionist weekly salary of $600 Purchased $10,000 of inventory on account terms 2/10, n/30 , the company uses perpetual inventory method Sold merchandise that cost $2,000 to XYZ for $2,900 cash 14-Jan Paid the telephone bill for $120 Sold merchandise that cost $3,000 to ABC for $3,900 terms 1/15, n/30 Paid $5,000 rent for Jan-May (a nominal account was debited) Paid receptionist weekly salary of $600 21-Jan Paid utility bill for $260 Sold merchandise that cost $1,000 on account to DEF company for $1,300 Purchased $ 5400 of supplies for cash ( a real account was debited) ABC returned one third of their earlier purchase ABC paid the total amount due Paid for the inventory purchased on Jan 7th Declared a dividend of $.10 per share to be paid to the owner of record on Jan 28th. The payment date is Jan 31 Paid receptionist weekly salary of $600 28-Jan Received payment of $800 from DEF company Paid receptionist weekly salary of $600 Purchased $5,ooo of merchandise terms 2/10 n/30 fob destination Sold merchandise that cost $2,000 to PQR for $2,900 cash 31-Jan Replenished the petty cash fund. The balance in the fund was $12. A summary of the the petty cash expenditu delivery charges paid on merchandise purchased $60 supplies purchased 25 postage expense 40 miscellaneous expense 59 Paid for the inventory purchased on Jan 28th Paid the dividend delcared on Jan 21st End of Month 31-Jan Accrued the interest on the note for the month Services performed but unbilled total $3,400 Salaries earned by the receptionist of $150 have not been recorded Bad debt expense for the month is estimated to be $150 Supplies on hand are $1,000 $42,000 of the fees collected on Jan 1st were earned during the month The equipment has a useful life of 5 years and a $10,000 salvage value. Use straight line depreciation Hint: are there any others? note for the remainder , payments will be made on the first of each month beginning in February nal account was debited) a real account was credited) etual inventory method he payment date is Jan 31st. the petty cash expenditures is as follows: e depreciation DATE ACCOUNT TITLE 1-Jan Cash Common Stock Additional paid-in capital DEBIT CREDIT 250000 25000 225000 cash dr 250,000 petty cash cr dr Inventory dr cr equipment dr cr salaries payable dr cr cr supplies dr cr cr dividends payable dr dr cr prepaid insurance accum. depreciation dr accounts receivable cr dr cr accounts payable dr cr notes payable dr cr common stock dr cr 25000 dividends dr fee revenue dr cr cost of goods sold dr cr telephone expense dr cr bad debt expense dr cr retained earnings cr sales dr cr utility expense dr cr cash over & short dr cr sales returns & allowance cr salary expense dr dr cr dr cr supplies expense dr cr postage expense dr cr miscellaneous expense dr cr allowance dr cr prepaid rent dr cr unearned fees dr cr interest payable dr cr additional paid-in cap dr cr 225000 sales discounts dr cr depreciation expense dr cr interest expense dr cr rent expense dr cr insurance expense dr cr ACCOUNT TITLE DEBIT CREDIT