Need help with the following accounting homework. Below are the instructions.

1.Transfer all the account balances from the trial balance to the T-accounts

2.Journalize all the transactions that happened from December 1st through the 30th.

3.Post the journal entries to the T-accounts and transfer those totals to the worksheet

4.Prepare the adjusting entries as of December 31st

5.On the worksheet provided, place each adjusting entry next to the account that was effected

6.Total up all accounts on the Adjusted Trial Balance after adjusting entries are entered

7.Transfer all amounts to either the Balance Sheet or Income Statement columns of the worksheet

8.Prepare the income statement, the statement of owner's equity, and the balance sheet

9.Prepare the necessary closing entries

10.Prepare a post-closing trial balance for the next accounting period/A blank post-closing trial balance is included, you need to enter in the account titles along with the balances

The purpose of this activity is to walk you through the whole accounting process involving a servicing company called September Oaks Inc. We will start with what we've learned from chapter 1 up to chapter 6. The project starts by journalizing transactions from source documents, posting these transactions, making adjusting entries, creating trial balances, creating financial statements, and then finally closing the accounting period so that the permanent and temporary accounts are ready for the next accounting period. You are the Senior Accountant for September Oaks Inc. The following information and directions are given to you. Make sure you follow all directions precisely because as an accountant, you know that one little mistake can cause you a whole lot of work later on. Below is the Trial Balance as of the beginning of December, 2017. Trial Balance as of December 1, 2017 Trial Balance Account Title Debits Credits Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Equipment Land Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Unearned Service Revenue Note Payable Gallow, Joy, Capital Gallow, Joy, Withdrawal Service Revenue Depreciation Expense Insurance Expense Salaries Expense Rent Expense Supplies Expense Utilities Expense Interest Expense 245,000 97,500 12,000 6,050 5,500 150,000 147,800 Total 738,850 44,025 61,000 78,500 18,200 12,100 69,800 159,500 75,000 295,725 0 0 0 0 0 0 0 738,850 During the month of December, the following transactions occurred: December 1 Purchased additional equipment in amount of $25,900 1 Prepaid for 3 months of insurance for new equipment bought, $2,100 5 Performed services on account, $2,500 7 Purchased supplies on account for $1,900 10 Received cash on account in amount of $29,000 12 Paid salary expense in amount of $15,900 15 Paid utilities expense in amount of $590 19 Owner withdrew $5,900 for Christmas shopping 21 Paid cash to acquire more land, $160,000 22 Collected cash on account, $1,500 23 Collected cash from a customer in advance for services to be performed later in amount of $10,590 29 Paid interest expense in amount of $2,400 30 Performed more services on account, $9,800 The following are adjusting entries for the month of December 2017: December 31 31 31 31 31 31 31 Supplies on hand at December 31st was $7,910 One month of prepaid insurance has expired from the December 1st transaction Used up $3,950 of the equipment through depreciation The weekly payroll is $2,500 (5-days). This year the payroll ended on a Tuesday. Earned $15,900 of unearned revenue during December Rent expired during the month totaled, $2,500 On September 1, 2017 the Notes Payable account had a balance of $69,800. The balance represents a 6-month, 10% note. Accrue for interest expense. *Round to the nearest whole dollar! Requirements: It's very crucial that ALL these steps are done in the order that is listed below. 1. Transfer all the account balances from the trial balance to the T-accounts 2. Journalize all the transactions that happened from December 1st through the 30th. 3. Post the journal entries to the T-accounts and transfer those totals to the worksheet! 4. Prepare the adjusting entries as of December 31st 5. On the worksheet provided, place each adjusting entry next to the account that was effected 6. Total up all accounts on the Adjusted Trial Balance after adjusting entries are entered 7. Transfer all amounts to either the Balance Sheet or Income Statement columns of the worksheet 8. Prepare the income statement, the statement of owner's equity, and the balance sheet 9. Prepare the necessary closing entries 10. Prepare a post-closing trial balance for the next accounting period ***A blank post-closing trial balance is included, you need to enter in the account titles along with the balances ***If you have any questions at all, do not hesitate to ask. Journal Entries Dates Journal Entries 1-Dec Equipment Cash 1-Dec 5-Dec Prepaid 3 months Insurance Cash Services Accts Receivable 7-Dec Supplies Accts Payable 10-Dec Accts Payable Cash 12-Dec Salaries Expense Cash 15-Dec Utilities Expense Cash 19-Dec Owner, Drawing Cash 21-Dec Land Purchase Cash 22-Dec Cash Acct Receivable 23-Dec Cash Advanced Services 29-Dec Interest Expense Cash 30-Dec Acct Rec Fees Income Adjusting Entries a b c d e f g Closing Entries Date Post-Closing Trial Balance Accounts DEBIT CREDIT 25,900 25,900 You are not required to use T-accounts. I've supplied them solely for your be graded but I enourage the utilization of T-accounts to help you calculate a balances in accounts. T-Accounts 2,100 2,100 Cash Salaries Payable 2,500 2,500 1,900 1,900 Interest Payable 29,000 29,000 15,900 Accounts receivable Unearned Ser. Rev. 15,900 590 590 Gallow, Joy, Capital 5,900 5,900 160,000 160,000 Supplies Gallow, Joy, WD 1,500 1,500 10,590 10,590 Service Revenue Prepaid insurance 2,400 2,400 9,800 9,800 Prepaid rent Depreciation expense Equipment Insurance expense Land Debit Credit ied them solely for your benefit. It will not be unts to help you calculate accurate ending ccounts. nts Note Payable Supplies expense Utilities expense Interest expense Accum. Depr Account payable Rent expense Salaries expense Work Sheet Account Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Equipment Land Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Unearned Service Revenue Note Payable Gallow, Joy, Capital Gallow, Joy, Withdrawal Service Revenue Depreciation Expense Insurance Expense Salaries Expense Rent Expense Supplies Expense Utilities Expense Interest Expense Total Trial Balance Debit Credit Adjustments Debit Credit Adj. Trial Balance Income Statement Balance Sheet Debit Credit Debit Debit Credit Income Statement Statement of Owner's Equity Balance Sheet Assets Liabilities Owner's Equity