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in December, 2019. Your year-end is each December 31. During the month of December, the corporation set up a retail location where it provided pet grooming services to its customers. You are the President and Treasurer of the Corporation and you are responsible for recording all the business transactions for the month and completing the entire accounting cycle for the year ending December 31, 2019 (through the post-closing trial balance) You must complete the accounting cycle on the various templates provided in this packet in your own handwriting. When you complete the project, you will need to make one additional copy from your completed original. You will keep the copy for yourself (this is a copy so you do not need to hand complete the proiect again), You will need this copy in order to complete Part1: Record the following trunsactions for Classic Canine Cuts for the month of December in Part 4: Record the adjusting entries tor Classic Cunine Cuts for the month of December in the the Gencral Journal Gencral Journal. Transaction Date Description DaleDescription 12 Issued 100,000 shares of common stock for S100,000 12/2 124 Purchased equpm or the husiness tolaling S36,000 12'5 Purchased S1,500 of supplies on account. 12/7 Provided services to customers for cash totaling $5,000 129 12/12 12/15 12/31 One month of rent that was prepuid hus been used for the month of December The equipment purchased for $36,000 has a useful life of years A retail space is rented. Paid for one year of rent in advance lolaling $24,000, (reml is $2,000 per monlh) Adj. 2 12/31 and no salvage value. (Monthly depreciation is $G00.) Adj. 3 1231 At the end of December, $1,000 of supplics remain on hand. By the cnd of December S700 worth ot the gift certificates had grooming serviccs and had not been recorded. Salaries for the second half of December are $1,400, but they 12/31 been rodeemed by cuslomes (revenue eme) lor Adj. 5 12:31 Purchased an ad in the local newspaper to run Customers purchased S1,000 of gift certificates for services to boe Paid employee salaries for the first halfof December totaling will not be paid until January3d for $400 vided in the future (pre paid for future services). Part 5: Post all ofthe adjusting entries for the month of December from the General Journal to $1,200 the Cieneral Ledger 12/17 Paid $1.000 for the supplies that were purchased on December 5 12/20Provided $2,500 ol services to cuslomers on accournl, 12/25Paid a cash dividend of $800 to the sharcholders 12/30 Received 31,500 on acount for services provided on 12/20. Part 6: Complete an Adjusted Trial Balance as of Decemher 31, 2019. Remember a balance in an account on the trial balunce will carry over to the adjusted trial balance if it was not changed by an adjusting journal entry." Part 7: Complete an Income Statement tor the month ended December 31. 2019 12 Part 8: Cormplele a Slalement of Relained Earnings for the munth ended Decemher 31, 2019 Part 2: Post all of the transactions for the month of December from the Gencral Journal to the Part 9: Prepare a Balance Sheet as of December 31, 2019. Part 10. Record the closing entries for the year ending December 31, 2019 Part 11. Post all ofthe year end closing entries from the Generl Joul to the General Ledger Part 12. Prepure a Post-Closing Trial Bulance. General Ledger. Part 3: Complete a Trial Balance as of Decermber 31, 2019 Page 2 Hoge i General Journal Part I General Journal Part 1 (Continued) Ref #1 Date Accoan, Debit Credit Ref# Date Accocnt Debiz Credi! 10 General Journal - Adjusting Entries Part 4 Ref#| Date |Account Debit Credi A 2 A. 4 A. S Page Page Gencral Ledger Parts 2,5,11 TB Trial Balace Total ATB-Adjusted Trial Balance Total CB- Closing alnce Total Post Joun refcs in lelcomn for debts and right column lie credits in each acuumt. Assets Liabilities Salaries Payable Cash Prepaid Rent Accounts Payable Debi Creait ebit eait Debit Creulis ATB TB TB ATB Uncarned (Deferred) Revenue Debil Creai Accounts Receivable Equipment Debir ediz eti Creni IB TB TB Supplics De Credi Cred TB ATB ATB Page 6 Page 7 Stockholders' Equity Revenuc Expenses Service Revenue Dividends Advertising Expense Debit Debi Credi Common Stock Debit Crei hir adir TB TB TB ATB TB CB CB Retained Eurnings Credi Debi Page & Page9 Part 3 Classic Canine Cuts Trial Balance December 31. 2019 Salaries Expense Rent Expense Debi Credi Deti Creai Debi Credis ATB ATB Supplics Expense obet Credir Depreciation Expense iebir Cradi ATB ATB CB Total Page 10 Page Part 6 Part 7 Classic Cunine Cuts Adjusted Trial Balancc December 31, 2019 Classic Canine Cuts Income Statement For the Month Ended Devember 31, 2019 Accoun Debit Credit Revenue Expenses Tolal Expenses Net Income Part & Classic Canine Cuts Statement of Retained Faming December 31, 2019 Retained Earnings Beginning Balance, December 1, 2019 Ending Balance, Dccember 31, 2019 Total Page 12 Puge Part 9 Classic Canine Cuts Ralance Sheet December 31, 2019 Gieneral Journal Closing Entries Part l0 Revenuc. Expense and Dividend accounts. Asscts Liabilitics Ref# | Date |Account Debi Credi C.1 Total Current Liabilities Total Current Assets C.2 Property Plant and Equipment Total Liabilities Stockholders' Equity C.3 Total Property Plant and Total Stockholders Equity Total Liabilities and Total Asscts Stockholders' F Page 14 Page is Part 12 Classic Canine Cuts Post-Closing Trial Balance December 31,2019 Account Debit Credit Total Page 16