Please do every step! Thank you!

ABC Corporation had been formed on September 1, 20xx to repair automobiles.

Requirements:

A) Record the following transactions for the current month in the General Journal using the account titles from the following Chart of Accounts.

Cash, Accounts recievable, prepaid insurance, equipment, accounts payable, invole taxes payable, dividends payable, unearned revenue, common stock, retained earnings, dividends, repaired revenue, salaries expense, supplies expense, Depreciation expense, equipment, utility expense, insurance expense, income tax expense, income summary.

1. Sold 10,000 shares of stock for $10,000

2. Bought equipment for $6,000 cash

3. Purchased supplies for $2,000 on account

4. Bought a one year insurance policy for $6,000 cash

5. Paid secretary $800 for the month

6. Earned $5,000 for repair work completed. Customer to pay next month

7. Recieved $50 deposit on a repair hich has yet to be completed

8. Declared a dividend of $1,000

B) Post the Journal entries to the General Ledger attached and calculate the nding balance in each account. Make sure to include the beginning balances in the total.

C) Prepare the trial balance

D) Record the following adjusting journal entries in the General Journal and then post them to the General Ledger

1. Record depreciation on the equipment for one month. Assume straight line depreciation. Assume a 5 year useful life.

2. An electric bill has been recieved for $600 related to the month just completed. It will be paid at the beginning of the next month.

3. Record the inshrance expense for the next month.

4. Supplies not used as of the end of the month total $1,300.

5. The repair work oted in transaction #7 in part A of this problem have been completed during the month.

6. Income taxes expense for the month is $400.

E) Prepare an adjusted trial balance.

F) Prepare the income statement, the statement of retained earnings and balance sheet. Make sure you prepare a proper heading for each statement.

G) Record the necessary closing journal entries in the General journal and post those journal entries to the General Ledger .

H) Record the necessary closing Journal entries in the General Journal and post those journal entries to the General ledger.

I) Prepare an after closing trial balance.