INTRUCTIONS

1.Analyze the narrative to prepare and record the transactions for December to the General Journal.

2.Post the journal entries to ledger accounts using T-accounts (Dont forget the opening balances from the information given on the post-closing trial balance on Nov. 30th.)

3.Prepare Income Statement and the Retained Earnings Statement for the month ended December 31, 2017 and Balance Sheet as of December 31, 2017 in good forms. Use the multi-step format for the Income Statement.

4.Close the temporary accounts, posting any net income or loss to retained earnings.