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$1.$ On December $1,"$We Are" Photography issued $10,000$ shares of common stock to Edward Gold in exchange for $$27,000$ cash.

$2.$ On December $1,"$We Are" Photography purchased photography equipment for $$7,200$ cash.

$3.$ On December $1,"$We Are" Photography prepaid $$2,200$ for the first $2$ month's rent for their photography studio. The company's policy is to initially record prepaid expenses and unearned revenues in balance sheet accounts.

$4.$ On December $4,"$We Are" Photography received a $$3,400$ deposit $($partial payment$)$ from Kim Jong and Vince Molinari for their June wedding. The company's policy is to initially record prepaid expenses and unearned revenues in balance sheet accounts.

$5.$ On December $9,"$We Are" Photography received $$1,800$ cash for full payment in advance from Edward Taylor for a late December photo shoot.

$6.$ On December $12,"$We Are" Photography purchased $$1,540$ of photography supplies on account.

$7.$On December $15,"$We Are" Photography performed photography services for a local church and billed the client $$6,800.$

$8.$ On December $18,"$We Are" Photography received its electric bill $($utilities$)$ in the amount of $$19.$

$9.$ On December $28,"$We Are" Photography paid $$600$ on account.,$540.$ Payment is due on January $18.$

$10.$ On December $30,"$We Are" Photography paid $$1,250$ in staff assistant's salary for December.

$11.$ On December $30,"$We Are" Photography paid a $$1,200$ cash dividend.

$12.$ Information for adjusting entries: The photography equipment purchased on December $1$ has an estimated useful of of $3$ years and no residual value. Prepare the adjusting entry to record depreciation for the month of December.

$13.$ Prepare the adjusting entry required for rent expired during December.

$14.$ Prepare the adjusting entry to record revenue earned from the photo shoot for Edward Taylor. Taylor paid $$1,800$ in advance on December $9,$ and the service was completed late in December.

$15.$ A physical count of photography supplies indicate that $$310$ of supplies are on hand as of December $31.$ Prepare the required adjusting entry, if any.

$16.$ Prepare the entry to close the revenue account$($s$)$ to Income summary.

$17.$ Prepare the entry to close the expense account$($s$)$ to Income summary.

$18.$ Prepare the entry to close income summary.

$19.$ Prepare the entry to close the dividends account.

Requirements:

$1.$ Prepare a general journal & general ledger

$2.$ trial balance

$3.$ Income Statement

$4.$ Statement of retained earnings

$5.$ balance sheet.