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Prepare a full accounting cycle. Prepare Journal, T accounts, trial balance, Income statement, statement of changes in equity and balance sheet from the following transactions

Prepare a full accounting cycle. Prepare Journal, T accounts, trial balance, Income statement, statement of changes in equity and balance sheet from the following transactions for the month of January 2022-

DATE

TRANSACTIONS

JAN 1

Started business with Cash $120,000, building $100,000, furniture $5000 and supplies $10,000

JAN 8

Bought laptop on account $12000

JAN 15

Collected $7000 as service revenue from customer

JAN 19

Withdraw $10,000 for personal use

JAN 22

Paid for laptop purchased on Jan 8 in full

JAN 25

Provided services worth $5000 to a client on account

JAN 31

Paid salaries $3000

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