Instructions QuickBooks Consulting Co. (QBCC) started business on September 1, 2017. You have been hired as the accountant to complete the following: 1. Journalize QBCC's first month of transactions in the general journal (descriptions not necessary). 2. Post every journal entry recorded in the general journal to the general ledger. The first transaction on September 2nd has been journalized in the general journal and posted to the general ledger as an example. 3. Prepare an unadjusted trial balance at September 30, 2017 (Check Figure $103,210) 4. Journalize and post adjusting journal entries based on the adjustments data provided 5. Prepare an adjusted trial balance at September 30, 2017 (Check Figure $108,660) 6. Prepare financial statements for QBCC for the month of September 2017. (Check Figure Total Assets $101,820) 7. Journalize and post-closing entries for September. 8. Prepare a post-closing trial balance at September 30, 2017 (Check Figure $102,070) Chart of Accounts Cash Accounts Receivable Prepaid Insurance Supplies Automobile Accumulated Depreciation Accounts Payable Unearned Service Revenue Salaries Payable Common Stock Retained Earnings Dividends Income Summary Service Revenue Rent Expense Utilities Expense Insurance Expense Depreciation Expense Supplies Expense Salaries Expense Transactions Here are the transactions for QBCC in September (first month of operations) 1. Sep. 2 Friends and family contributed $60,000 to the business by buying the private stock of QuickBooks Consulting Co. 2. Sep. 4 Purchased an annual insurance policy for $3,600. QBCC paid $1,000 immediately, with the balance due in 30 days 3 Sep. 5 Purchased an automobile that will be used to visit clients for $15,500 on account 4. Sep. 7 Purchased supplies for $520 cash. S. Sep. 10 Issued check for $1,700 to pay rent for September. 6. Sep. 14 Performed consulting services for $17,750 cash . Sep. 20 Received $7,000 from a customer as an advance for consulting services to be performed in the remainder of September, October and November. [Hint: Amount should be recognized proportionately over the 2% months.! 8Sep. 27 Received an electricity bill for September for $360, payable in 30 days 9 Sep. 29 Withdrew $2,000 as a dividend ADJUSTING ENTRIES ON NEXT PAGE (STEP 4 21Page