I am needing help with the general ledger portion of this problem. Also, please check my work on the journal portion. I am struggling with the unadjusted and adjusted trial balance so i want to make sure the ledger is correct.

Project Data: Taylor Scott owns and operates a consulting firm called Scott Consulting. The business began operating in October 2019. Transactions for October and November 2019 have been recorded and posted. Scott Consulting had the following transactions in December 2019. Dec 2 provided $3,450 of consulting services to Nelson Company on account 3 paid $1,130 cash to Global Mall for Scott Consulting's share of mall advertising posts. 4 Paid $375 cash for minor repairs to the company's computer. 110 Purchased $1,100 of computer supplies on credit from Graham Office Products. 14 paid cash to employee for five days of work at the rate of $155 per day. 15 Notified by True Engineering Co, that Scott Consulting's bid of $6,750 on a proposed project has been accepted. True paid a $1,200 cash advance to Scott Consulting 20 Completed a project for Olympus Corporation and received $5,235 cash. 128 Received $2,600 cash from Nelson Company on its receivable. 29 Reimbursed T. Scott $187 for business automobile mileage. 31 T. Scott withdrew $1,300 cash from the company for personal use. Pane 3. 16 The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months of operations: a. Tho December 31 inventory count of computer supplies shows $430 still available. b. Two of the four months' prepaid rent has expired. C. Four months have expired since the 12-month insurance premium was paid in advance. d. As of December 31. the only employee of Scott Consulting had not been paid for four days of work at $155 per day. e. The computer system, acquired for $8,000 on October 1, is expected to have a four- year life with no salvage value. 1. The office equipment, acquired for $20,000 on October 1, is expected to have a five- year life with no salvage value. Required: 71. Journalize the December transactions for Scott Consulting. You may omit explanations for the journal entries. Skip a line between each journal entry - see the journal entries for October - November as a formatting example. 2. Post the December transactions to the appropriate accounts in the ledger. 3. Prepare a trial balance to prove the equality of debits and credits prior to continuing with this project. Omit any accounts that have a zero balance. Check figure: $98,626. Consult your instructor if your trial balance does not balance before proceeding with the project. V4. Journalize the adjusting entries to reflect items a through fabove. 5. Post the adjusting entries to the appropriate accounts in the ledger. 6. Prepare an adjusted trial balance as of December 31, 2019. Check figure: $100,746. Consult your instructor if your adjusted trial balance does not balance before proceeding with the project. 7. Prepare the three basic financial statements in good form. See your accounting text for a good example of financial statement formatting. a. Prepare an income statement for the three months ended December 31, 2019. b. Prepare a statement of owner's equity for the three months ended December 31, 2019. c. Prepare a balance sheet as of December 31, 2019. 8. Journalize and post the necessary closing entries for Scott Consulting. 9. Prepare a post-closing trial balance as of December 31, 2019. Page 4 of 16 Below are the journal entries recorded by Scott Consulting for October and November 2019. NOTE: These are for your information only, you do not need to do anything with these entries. GENERAL JOURNAL DATE ACCOUNT DEBIT CREDIT 2019 Oct 1 Cash 101 45.000 Office Equipment 163 20,000 Computer Equipment 167 8,000 T. Scott Capital 301 73,000 1 1282 Prepaid Insurance Cash ,220 101 2,220 2 Prepaid Rent Cash 1313 101 ,300 3,300 925) MA 9 2 ,545 Computer Supplies Accounts Payable 126 201 2,545 .800 16 Accounts Receivable Consulting Revenue 1064 403 4.800 8 75 31 Wages Expense Cash 623 101 875 Nov 2 3 20 Mileage Expense Cash 676 101 1 5 ,545 Accounts Payable Cash 2012 101 2,545 8 4.800 Cash Accounts Receivable 101 106 4,800 ,633 14 Cash Consulting Revenue 1014 403 4,633 106 5 .208 23 Accounts Receivable Consulting Revenue 5,208 30 2 ,000 T. Scott, Withdrawals Cash 302 101 2,000 Page 5 of 16 POST DEBIT CREDIT Working Papers General Journal for Requirements 1, 4 & 10 GENERAL JOURNAL DATE ACCOUNT December Transactions (20 points) Dec 2 Accounts Receivable Consung Service Revenue 3 Advertising Expense CASH loce 113450 403 3450 1,130 101 $1,130 Recour Espase $375 $375 10 Computer Suppli l accounts Paulo LIDO ace 1.100 20 1623 397 101 $75 lis 101 91200 $1,200 14 Nages Expense CASH CASH uncined Consulting Revenue 20 CASH Consulting Revenue 28 CASH Accounts Receivable 129 Milage expense 101 15235 403 bias 101 lowe $2,200 $26000 610187 101 187 31 T. Scott withdraws CASH 302 $1,300 306 Page 6 of 16 PAGE POST CREDIT 131 m er 6070 SO 131 LOSO GENERAL JOURNAL DATE ACCOUNT DEBIT 2019 Adjusting Entries (17 points) Dec | Da Splo n (1) - 43%). TB 470 Computer Supplies B Bent Expense 31 Prepaid rent Ic Insurance Exerce I #140 s) Tipud Insurance 128 D. Wages Expense na35620 31 Wiges Paulubi te Expense-Computer suipment $ 500 131 Accumulad Demician-compiker Ehup Decade. Expanse office and port $ 11,000 31 A cauruakd Deprication offixe Equip $240 IS20 $500 $1.000 Dec 31 Closing Entries (10 points) Consulting Revenue Income Summuy 038 X1485 $36285 $7642 011 11025 197 1,395 1650 31 Income Summary Repair expense CO Milag Expense Waals Expense (6 Rent Expense Computer Supplies Expense To Insurance Expense D Advertising anses Depreciation - Comp Equip @ Depriciation office Equip 31. Income Summary TScott Capital 31 T Scott Capital T. Scott Withdrawis 170 140 1190 500 301 $1,038 $1,038 301 302 1,200 1300 Page 7 of 16 Ledger for Requirements 2, 5, & 10 Note: Ledger includes all entries from the first two months of operations for Scott Consulting Continue by posting the December transactions. 12 points Cash PR Explanation Date Oct. Debit 45,000 J1 Acct. No. 101 Credit Balance 45,000 2,220 42,780 3,300 39,480 875 38.605 320 38,285 2.545 35,740 40,540 45,173 2,000 43,173 J1 Date Oct. Nov. 16 Accounts Receivable Explanation PR Debit 4,800 11 5,208 Acct. No. 106 Credit Balance 4,800 4,800 5,208 Date Oct. Computer Supplies Explanation PR Debit J12,545 Acct. No. 126 Credit Balance 2,545 91 Date Oct. Prepaid Insurance Explanation PR J1 Debit 2,220 Acct. No. 128 Credit Balance 2,220 1 Ledger (Continued) Page 8 of 16 Explanation Date Oct. Prepaid Rent PR J1 Acct. No. 131 Credit Balance 3,300 Debit 3,300 2 Date Oct. Office Equipment Explanation PR J1 Debit 20,000 Acct. No. 163 Credit Balance 20,000 Acct. No. 164 Accumulated Depreciation Office Equipment Explanation PR Debit Credit Balance Date Date Oct. Computer Equipment Explanation PR Debit J1 8,000 Acct. No. 167 Credit Balance 8,000 Accumulated Depreciation Computer Equipment Acct. No. 168 Explanation PR Debit Credit Balance Date Acct. No. 201 Debit Date Oct. Nov. Accounts Payable Explanation PR J1 J1 Credit Balance 2,5452,545 2,545 Wages Payable PR Acct. No. 210 Credit Balance Date Explanation Debit Unearned Consulting Revenue Explanation PR Debit Acct. No. 236 Credit Balance Page 9 of 16 Ledger (Continued) Explanation Date Oct. T. Scott, Capital PR J1 Debit Acct. No. 301 Credit Balance 73,000 73,000 1 T. Scott, Withdrawals Explanation PR Date Nov. Acct. No. 302 Credit Balance 2,000 Debit 2,000 30 J1 Consulting Revenue Explanation PR Debit Date Oct. Nov. 16 14 23 Acct. No. 403 Credit Balance 4,800 4,800 4,633 9,433 5,208 14,641 Date Depreciation Expense-Office Equipment Acct. No. 612 Explanation PR Debit Credit Balance Depreciation Expense-Computer Equipment Acct. No. 613 Explanation PR Debit Credit Balance Date Date Oct. Wages Expense Explanation PR Debit J1875 Acct. No. 623 Credit Balance 875 31 Page 10 of 16 Ledger (Continued) Insurance Expense Explanation PR Debit Acct. No. 637 Credit Balance Date Rent Expense PR Acct. No. 640 Credit Balance Date Explanation Debit Computer Supplies Expense Explanation PR Debit Acct. No. 652 Credit Balance Date Advertising Expense Explanation PR Debit Acct. No. 655 Credit Balance Date Date Nov. Mileage Expense Explanation PR J1 Debit 320 Acct. No. 676 Credit Balance 320 2 Repairs Expense-Computer Explanation PR Debit Acct. No. 684 Credit Balance Date Income Summary Explanation PR Acct. No. 901 Credit Balance Date Debit