Lawrence Marcel School Of Music Guidelines Lawrence Marcel School Of Music is an existing business that has hired you, the accountant, to prepare the financial statements and keep a complete set of financial books for the month of July. Listed below are detailed instructions as to how one is to complete this task. Important Note: Before you record the transactions post the account balances from the June 30, 200X Post Closing Trial Balance in the General Ledger and label each amount "Balance" in the description column. 1. 2. 3. 4. 5. 6. 7. 8 Journalize the initial transactions dated July 1, 200X through July 31, 200X. Omit explanations for all journal entries for the entire month. Post the transactions in the General Ledger. Be sure to complete the follo reference columns. Prepare a Trial Balance on the sheet provided for the trial balance. Complete the worksheet using the adjusting entries provided. If the worksheet balance you are ready to go on to the next step. If it does not balance you must find your error and correct it before you can continue. Journalize the adjusting entries Post the adjusting entries in the General Ledger. Prepare a formal single step Income Statement. 9. Prepare a formal Statement of Owner's Equity. 10. Prepare a formal Balance Sheet. 11. Journalize the closing entries. 12. Post the closing entries to the General Ledger. 13. Prepare a Post Closing Trial Balance.