Please Answer!

Use these awards above to complete the following forms:

1. Sales Journal

2. Purchases Journal

3. Cash Receipts Journal

4. Cash Payments Journal

5. General Journal

6. General Ledger

7. Account Rec Ledger

8. Account Pay Ledger

9. Employee Earnings

10. Payroll Reg

11. Checkbook

12. Bank Reconciliation

13. Sechedule of Open Accounts

14. Worksheet

15. Income Statement

16. Statement of Owner's Equity

17. Balance Sheet

18. Post Closing Trial Balance

Step 1: Record daily transactions \& post to the subsidiary ledgers to keep track of customer and vendor balances Step 2: Post daily transactions to the General Ledger. Step 3: Prepare the bank reconciliation for December and resulting entries. Step 4: Prepare the Schedule of Accounts Receivable and Accounts Payable Step 5: Prepare the Worksheet Enter the balances from the General Ledger in Trial Balance columns of the worksheet. Enter the adjusting entries based on the information below and then complete the worksheet. 1. Accrued salaries on December 31 are $280 for Office employees and $500 for Sales employees. 2. Supplies on hand on Dec. 31 were $1,370. 3. Insurance policies which have not expired at the end of the year total $2,200. 4. The end of year physical inventory count showed that there is $94,927 of inventory on hand. 5. The annual depreciation that needs to be recorded on Office Equipment is $2,180. 6. The annual depreciation that needs to be recorded on the Building is $4,600. 7. The company estimates that $900 of the accounts receivable balance as of Dec. 31 will not be collected. 8. Unearned rent revenue that has been earned as of Dec. 31 is $4,300. 9. Interest accrued on the long-term note during December is $260. Step 6: Prepare the Financial Statements Based on the information from the worksheet, prepare the following financial statements. 1. Multiple Step Income Statement 2. Statement of Owner's Equity 3. Classified Balance Sheet Step 7: Journalize and Post the Adjusting Entries. The adjusting entries recorded on the worksheet need to be recorded in the general journal and posted to the general ledger. Step 10: Journalize and Post Reversing Entries. Following the policy we used in this class when covering Chapter 3, record and post reversing entries for the appropriate adjusting entries. Creative Performance Awards Chart of Accounts Creative Performance Awards Trial Balance November 30, 2015 711719721723730745811911OfficeSalariesExpUtilitiesExpenseTelephoneExpensInternetExpensePayrollTaxExpenseMiscellaneousGenInterestRevenueInterestExpenseTotal Creative Performance Awards Creative Performance Awards Bank Reconciliation Schedule of Accounts Receivable November 30, 2015 November 30, 2015 Creative Performance Awards Schedule of Accounts Payable November 30, 2015 Use the December Bank Statement below and the November Bank Reconciliation to prepare the December Bank Reconciliation. Hint: the first time you encounter each form or type of transaction (such as a check received, purchase invoice or payroll), carefully read the directions on how to handle that form or transaction in the instructions section. You may need to refer to the instructions often. \begin{tabular}{|l|l|l|lr|} \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} Customer Copy \begin{tabular}{|l|l|l|} \hline \multicolumn{4}{|c|}{ Creative Performance Awards } \\ \multicolumn{4}{|c|}{ Interoffice Memo } \\ \hline \multicolumn{4}{|c|}{ Tor: } & Accounting Department & Date: & December 3, 2015 \\ \hline Issue check 4397 for \$2,400 to Assured Insurance Company for a 1-year business and liability insurance policy. Coverage began on December 1. \\ \hline \end{tabular} Step 1: Record daily transactions \& post to the subsidiary ledgers to keep track of customer and vendor balances Step 2: Post daily transactions to the General Ledger. Step 3: Prepare the bank reconciliation for December and resulting entries. Step 4: Prepare the Schedule of Accounts Receivable and Accounts Payable Step 5: Prepare the Worksheet Enter the balances from the General Ledger in Trial Balance columns of the worksheet. Enter the adjusting entries based on the information below and then complete the worksheet. 1. Accrued salaries on December 31 are $280 for Office employees and $500 for Sales employees. 2. Supplies on hand on Dec. 31 were $1,370. 3. Insurance policies which have not expired at the end of the year total $2,200. 4. The end of year physical inventory count showed that there is $94,927 of inventory on hand. 5. The annual depreciation that needs to be recorded on Office Equipment is $2,180. 6. The annual depreciation that needs to be recorded on the Building is $4,600. 7. The company estimates that $900 of the accounts receivable balance as of Dec. 31 will not be collected. 8. Unearned rent revenue that has been earned as of Dec. 31 is $4,300. 9. Interest accrued on the long-term note during December is $260. Step 6: Prepare the Financial Statements Based on the information from the worksheet, prepare the following financial statements. 1. Multiple Step Income Statement 2. Statement of Owner's Equity 3. Classified Balance Sheet Step 7: Journalize and Post the Adjusting Entries. The adjusting entries recorded on the worksheet need to be recorded in the general journal and posted to the general ledger. Step 10: Journalize and Post Reversing Entries. Following the policy we used in this class when covering Chapter 3, record and post reversing entries for the appropriate adjusting entries. Creative Performance Awards Chart of Accounts Creative Performance Awards Trial Balance November 30, 2015 711719721723730745811911OfficeSalariesExpUtilitiesExpenseTelephoneExpensInternetExpensePayrollTaxExpenseMiscellaneousGenInterestRevenueInterestExpenseTotal Creative Performance Awards Creative Performance Awards Bank Reconciliation Schedule of Accounts Receivable November 30, 2015 November 30, 2015 Creative Performance Awards Schedule of Accounts Payable November 30, 2015 Use the December Bank Statement below and the November Bank Reconciliation to prepare the December Bank Reconciliation. Hint: the first time you encounter each form or type of transaction (such as a check received, purchase invoice or payroll), carefully read the directions on how to handle that form or transaction in the instructions section. You may need to refer to the instructions often. \begin{tabular}{|l|l|l|lr|} \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} Customer Copy \begin{tabular}{|l|l|l|} \hline \multicolumn{4}{|c|}{ Creative Performance Awards } \\ \multicolumn{4}{|c|}{ Interoffice Memo } \\ \hline \multicolumn{4}{|c|}{ Tor: } & Accounting Department & Date: & December 3, 2015 \\ \hline Issue check 4397 for \$2,400 to Assured Insurance Company for a 1-year business and liability insurance policy. Coverage began on December 1. \\ \hline \end{tabular}