Prepare:

Trial Balance

Statement of Changes in Equity

Balance Sheet.

2020	Details of Transactions
Jan- 01	Trulia Advice Inc acquired $415,000 from the issue of common stock.
Feb-02	Collected $60,000 as an advance for consultancy services yet to be provided over one year starting May 1.
Feb-25	Provided $26,460 of Consultancy Services on account.
Mar-31	Paid $120,000 cash for the extension of the Office Building.
Apr-15	Purchased $24,000 cash for a one-year insurance policy with coverage initiating 1st of July 20.
Jun-10	Collected $18,400 from accounts receivable.
Jul-25	Purchased $3,000 of Stationary for office use on the account.
Aug-15	Paid $32,000 Cash for Wages to employees.
Nov-10	Paid a dividend of 3% of Total Equity.
Dec-01	Paid $3,000 to settle accounts payable related to stationery.
Dec-20	$3,500 is recognized as Utility Bill expenses on account.
Adjustments As of 31st December 2020,
1	Stationery of value $1,000 was found left in store that could be used next year.
2	Earned $40,000 of the $60,000 of revenue deferred on Feb 2.
3	Recognized $1,200 Rent revenue which is not received until 31st December 2020.
4	$8000 was found accrued of Wages.
5	Had used half of the $24,000 of insurance coverage that it had paid for on 15th April.
6	Trulia Advice Inc had the following Balances at the beginning of 1st January 2020.
	Cash: $15,000,
	Common Stock $15,000
	There was no Retained Earnings opening balance.