Instructions 1. The chart of accounts and the post-closing trial balance as of September 30, 2023 are given. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of the General Ledger. Date the balances October 1, 2023, and place a check mark ( ) in the Posting Reference column. Journalize each of the October transactions in the journal provided using Target Companys chart of accounts. (Do not insert the account numbers in the journal at this time). 2. Post the journal to the ledger. (Remember to enter Post References) 3. Prepare an unadjusted trial balance. 4. At the end of October, the following adjustment data was assembled. Use the data to complete instructions ( 5 ) and ( 6 ): Supplies on hand were $2,000 Rent expired during the month $1,800 Unearned fees at the end of the month was $2,500 Insurance expired during the month was $450 Accrued salaries payable were $320 Depreciation on equipment during the month was $475 5. Optional: Enter the unadjusted trial balance on an end-of-period spreadsheet/worksheet and complete the worksheet as you continue with the project. 6. Journalize and post adjusting entries. 7. Prepare an adjusted trial balance. 8. Create the closing journal entries and post them to the ledgers. Indicate closed accounts in the ledger by inserting a line in both of the Balance columns opposite each closing entry. 9. Prepare an Income Statement, Statement of Owners Equity, and Balance Sheet. (Remember to use correct headings) 10. Prepare the post-closing trial balance for October 31, 2023.

Comprehensive Problem Aug 2023 Target: Chart of Accounts

11 Cash

12 Accounts Receivable

14 Supplies

15 Prepaid Rent

16 Prepaid Insurance

18 Office Equipment

19 Accumulated Depreciation

21 Accounts Payable

22 Salaries Payable

23 Unearned Fees

31 Target, Capital

32 Target, Drawing

41 Fees Earned

51 Salary Expense

52 Rent Expense

53 Supplies Expense

54 Depreciation Expense

55 Insurance Expense

59 Miscellaneous Expense

Comprehensive Problem

Aug 2023 Target had the following transactions occurred in October 2023:

Oct 1 Received $8,800 cash for fees earned for jobs completed.

1 Received cash from clients on account, $1,250.

2 Paid three months rent on a lease on storage unit, $5,400.

2 Paid September electricity bill, $775.

5 Purchased supplies on account, $3,250.

6 Paid $1,600 technician salary, including the amount owed at the end of September.

8 Billed customers for services provided on account $9,200.

9 Paid $3,000 on account.

10 Paid cash for advertising $350.

12 Received cash from customers as an advance payment for services to be provided in the future and recorded as unearned fees, $8,000.

14 Received cash from customers on account, $2,500.

17 Paid cash for supplies, $275.

19 Billed customers for services provided on account, $5,800

20 Paid technician salary, $1,600.

24 Received $22,500 cash for fees earned for jobs completed.

25 Paid phone bill for the month, $620.

26 Received cash from customers on account, $12,000.

28 Billed customers for services provided on account, $9,750.

31 T. Arget withdrew $4,500 for personal use.

31 Purchased new office equipment for $6,400 paying $1,400 cash and the remainder on account.

Comprehensive Problem Target Co. Post Closing Trial Balance September 30, 2023 \begin{tabular}{lrr} Cash & 21,300 & \\ Accounts Receivable & 5,200 & \\ Supplies & 1,750 & \\ Prepaid Rent & 3,400 & \\ Prepaid Insurance & 1,800 & \\ Office Equipment & 12,500 & \\ Accumulated Depreciation & & 475 \\ Accounts Payable & 500 \\ Salaries Payable & 400 \\ Unearned Fees & & 1,000 \\ T. Arget, Capital & & 43,575 \\ & & \\ & 45,950 & 45,950 \end{tabular} Comprehensive Problem Target Co. Post Closing Trial Balance September 30, 2023 \begin{tabular}{lrr} Cash & 21,300 & \\ Accounts Receivable & 5,200 & \\ Supplies & 1,750 & \\ Prepaid Rent & 3,400 & \\ Prepaid Insurance & 1,800 & \\ Office Equipment & 12,500 & \\ Accumulated Depreciation & & 475 \\ Accounts Payable & 500 \\ Salaries Payable & 400 \\ Unearned Fees & & 1,000 \\ T. Arget, Capital & & 43,575 \\ & & \\ & 45,950 & 45,950 \end{tabular}