Really need help with how to figure out and log everything in.

General Ledger Journal General Ledger 1 Create the general ledger accounts, and enter the initial balances at the start of the month of January. 2 Prepare journal entries for January's transactions. 3 Post January's transactions to the appropriate general ledger accounts. 4 Prepare a unadjusted trial balance as of January 31. 5 Prepare adjusting journal entries (as needed) for January - in compliance with GAAP. 5.1 Post adjusting entries to the appropriate general ledger accounts. 6 Prepare the adjusted trial balance for January. 7 Prepare an income statement and statement of retained earnings for January, and a balance sheet as of the end of January. Unadj. Trial Balance Journal General Ledger Adjusted Trial Balance Fin. Statement Journal 8 Prepare closing journal entries for January - in compliance with GAAP. 8.1 Post closing entries to the appropriate general ledger accounts. 9 Prepare the closed trial balance for January. General Ledger Closed Trial Balance Morgan Corporation opened the year 20X6, with the following trial balance information: Cash $ 45,000 Accounts Receivable 75,000 Land 130,000 Accounts Payable $ 60,000 Loan Payable 30,000 Capital Stock 50,000 Retained Earnings 110,000 Dividends Revenues Salaries Expense Rent Expense Supplies Expense Interest Expense Total $ 250,000 $ 250,000 1 January's transactions are listed below: Jan. 1 Purchased a new equipment for $10,000 cash. Jan. 2 Collected $10,000 on an open account receivable. Jan. 3 Purchased additional tract of land for $50,000 with 20% cash down. Jan. 5 Provided services on account to a customer (Alpha) for $15,000. Jan. 7 Paid $2,000 for 20x6 liability insurance coverage. Jan. 9 Paid salaries of $3,000. Jan. 12 Customers (Bravo) paid $11,000 for work to be done in Jan/Feb. Jan. 15 Purchased office supplies on account, $2,000. | Jan. 17 The company paid shareholders a $2,500 dividend. Jan. 20 Paid Feb - April (3 months) rent of $2,100 in advance. Jan. 23 Paid salaries of $4,000. Jan. 24 Paid $16,000 on the open accounts payable. Jan. 29 Collected $50,000 on accounts receivable. Jan. 31 Pay off old loan of $30,000. (old = carried over from last year) Jan. 31 Work at customers (Bravo) was completed as scheduled. 1 1) Useful life is 10 year, no salvage value, so depreciation will be $1,000 a year. 2) The remaining 80% was financed on a loan with 6% interest, due semi-annually. 3) The liability insurance coverage started on 1/1/x6. 4) Workers are paid every two weeks on Friday. 5) Work is scheduled 50% in Jan, 50% in Feb. 6) Per rent agreement, rent must be paid in advance every 3 months. see note 3 7) Old loan had 7% interest, due at the end of each year. MORGAN CORPORATION Unadjusted Trial Balance January 31, 20X6 Account Debits Credits $ $ 1 $ $ $ MORGAN CORPORATION Adjusted Trial Balance January 31, 20X6 Account Debits Credits $ $ - - - 1 $ $ $ MORGAN CORPORATION Income Statement For the Month Ending January 31, 20X6 Revenues Services to customers $ Expenses Salaries $ Supplies Rent Interest Insurance Net income MORGAN CORPORATION Statement of Retained Earnings For the Month Ending January 31, 20X6 Beginning retained earnings $ Plus: Net income $ Less: Dividends Ending retained earnings $ $ MORGAN CORPORATION Balance Sheet January 31, 20X6 Assets Cash Accounts receivable Prepaid rent Prepaid insurance Land Equipment Less: Accumulated depreciation Total assets $ Liabilities Accounts payable Interest payable Unearned revenue Loan payable Total liabilities $ Stockholders' equity Capital stock Retained earnings Total stockholders' equity Total liabilities and equity MORGAN CORPORATION Closed Trial Balance January 31, 20X6 Account Debits Credits $ $ $ $ General Ledger Journal General Ledger 1 Create the general ledger accounts, and enter the initial balances at the start of the month of January. 2 Prepare journal entries for January's transactions. 3 Post January's transactions to the appropriate general ledger accounts. 4 Prepare a unadjusted trial balance as of January 31. 5 Prepare adjusting journal entries (as needed) for January - in compliance with GAAP. 5.1 Post adjusting entries to the appropriate general ledger accounts. 6 Prepare the adjusted trial balance for January. 7 Prepare an income statement and statement of retained earnings for January, and a balance sheet as of the end of January. Unadj. Trial Balance Journal General Ledger Adjusted Trial Balance Fin. Statement Journal 8 Prepare closing journal entries for January - in compliance with GAAP. 8.1 Post closing entries to the appropriate general ledger accounts. 9 Prepare the closed trial balance for January. General Ledger Closed Trial Balance Morgan Corporation opened the year 20X6, with the following trial balance information: Cash $ 45,000 Accounts Receivable 75,000 Land 130,000 Accounts Payable $ 60,000 Loan Payable 30,000 Capital Stock 50,000 Retained Earnings 110,000 Dividends Revenues Salaries Expense Rent Expense Supplies Expense Interest Expense Total $ 250,000 $ 250,000 1 January's transactions are listed below: Jan. 1 Purchased a new equipment for $10,000 cash. Jan. 2 Collected $10,000 on an open account receivable. Jan. 3 Purchased additional tract of land for $50,000 with 20% cash down. Jan. 5 Provided services on account to a customer (Alpha) for $15,000. Jan. 7 Paid $2,000 for 20x6 liability insurance coverage. Jan. 9 Paid salaries of $3,000. Jan. 12 Customers (Bravo) paid $11,000 for work to be done in Jan/Feb. Jan. 15 Purchased office supplies on account, $2,000. | Jan. 17 The company paid shareholders a $2,500 dividend. Jan. 20 Paid Feb - April (3 months) rent of $2,100 in advance. Jan. 23 Paid salaries of $4,000. Jan. 24 Paid $16,000 on the open accounts payable. Jan. 29 Collected $50,000 on accounts receivable. Jan. 31 Pay off old loan of $30,000. (old = carried over from last year) Jan. 31 Work at customers (Bravo) was completed as scheduled. 1 1) Useful life is 10 year, no salvage value, so depreciation will be $1,000 a year. 2) The remaining 80% was financed on a loan with 6% interest, due semi-annually. 3) The liability insurance coverage started on 1/1/x6. 4) Workers are paid every two weeks on Friday. 5) Work is scheduled 50% in Jan, 50% in Feb. 6) Per rent agreement, rent must be paid in advance every 3 months. see note 3 7) Old loan had 7% interest, due at the end of each year. MORGAN CORPORATION Unadjusted Trial Balance January 31, 20X6 Account Debits Credits $ $ 1 $ $ $ MORGAN CORPORATION Adjusted Trial Balance January 31, 20X6 Account Debits Credits $ $ - - - 1 $ $ $ MORGAN CORPORATION Income Statement For the Month Ending January 31, 20X6 Revenues Services to customers $ Expenses Salaries $ Supplies Rent Interest Insurance Net income MORGAN CORPORATION Statement of Retained Earnings For the Month Ending January 31, 20X6 Beginning retained earnings $ Plus: Net income $ Less: Dividends Ending retained earnings $ $ MORGAN CORPORATION Balance Sheet January 31, 20X6 Assets Cash Accounts receivable Prepaid rent Prepaid insurance Land Equipment Less: Accumulated depreciation Total assets $ Liabilities Accounts payable Interest payable Unearned revenue Loan payable Total liabilities $ Stockholders' equity Capital stock Retained earnings Total stockholders' equity Total liabilities and equity MORGAN CORPORATION Closed Trial Balance January 31, 20X6 Account Debits Credits $ $ $ $