On October 1, Success Company had the following account balances:

Cash$8,000Salaries Payable$10,000

A/R9,000Capital7,000

During October the following transactions took place:

October 5:purchased a machine for 4,000 cash

8:purchased supplies for 1,500 on account

10:owner invested 25,000 cash

14:paid 300 on account for the supplies

20:performed services on account, 15,000

24:paid rent, 1800

27:withdrew 4,200 cash

Required:

a.Set up T-accounts and enter the October 1 balances.

b.Journalize the October transactions

c.Post to the T-accounts.

d.Do a trial balance on October 31.

e.Journalize adjusting entries based on the following:

1.the machine depreciated 500

2.200 of supplies were used up

3.receive Con Ed bill, $250 (not paying now)

f.Post the adjusting entries to the T-accounts

g.Do an adjusted trial balance

h.Prepare the three financial statements

1.Income statement

2.owner's equity statement

3.Balance sheet

i.Journalize closing entries

j.Post these entries to the T-accountsk.Do a post-closing trial balance