Requierments:

1- General Journal

2-Ledger accounts

3-unadjusted trial balance

4-adjusted trial balance

5-Income Statement

6-retained earnings statement

7-Statement of Financial position

8-Post-closing trial balance

Nourah and Sarah, former CBA students, had saved some cash and decided to start their own business. They surveyed the market to find what business suits their budget, and what business they know the best. Since they have some experience in makeup and beauty. They decided to open a beauty salon called Hermosa Seorita. The salon will have a monthly accounting cycle. They have started their business on Jan 1, 2019. The following are some events that happened in January 2019. 1. Jan 1. Nourah and Sarah invested 60,000 SAR in cash and 10,000 SAR in hairdryers, straighteners, and other hair equipment in exchange for ordinary shares in Hermosa Seorita. 2. Jun 1. Hermosa Seorita rented a place that cost 12,000 SAR annually to start the business. The full payment due in Dec 31, 2019. 3. Jan 2. Hermosa Seorita paid 6,000 SAR for a one-year insurance policy that will expire Dec 31, 2019 4. Jan 3. Hermosa Seorita purchased some makeup, massage oil, and Nile polish from Sephora signing 3 months note payable in the amount of 12,000 SAR. The note required Hermosa Seorita to pay interest at an annual rate of 10%. 5. Jan 3. Hermosa Seorita interviewed 15 young ladies to hire them in 4 positions, receptionist, Manicurists and pedicurists, masseuse, and makeup artist. 6. Jan 5. Hermosa Seorita purchased chairs, stands, and other equipment to decorate her salon that cost 16,000 SAR from Nazih. 3,000 SAR was paid in cash and the remaining on account. 7. Jan 7. Hermosa Seorita haired 5 ladies on the positions starting Tuesday, Jan 8, 2019. Each employee agreement set the salary to be 600 SAR for a six-day work week (the salon closes on Fridays), and the salaries will be paid on the eighth day of every month. First payment is on February 8, 2019. 8. Jan 8. Hermosa Seorita signed a 15,000 SAR contract with a snapchat celebrity to cover the opening day that would be held on Thursday Jan 10. Hermosa Seorita paid 2,000 SAR down payment to the celebrity on Jan 8 and agreed to pay the balance due after the advertisement. 9. Jan 10. The opening day, the celebrity announced the opening day on her social media accounts, and Hermosa Seorita paid the total amount due. 10. Jan 12. Hermosa Seorita received total of 15,000 SAR for provided services. 11. Jan 13. Hermosa Seorita received 2,500 SAR in cash from Hind for a reservation of a makeup service to be provided on Jan 17, 2019. 12. Jan 14. Hermosa Seorita provided some services for 25,000 SAR to Amal (Nourah best friend) and her family, and she agreed to pay the amount due later. 13. Jan 15. Hermosa Seorita received 1000 SAR in cash for a reservation of a massage service. The service should be provided on Feb 2, 2019. 14. Jan 17. Hermosa Seorita provided the makeup service to Hind (she had made a reservation on Jan 13) 15. Jan 26. Hermosa Seorita received 2000 SAR from Amal 16. Jan 30. Hermosa Seorita paid 500 SAR utilities expenses. 17. Jan 30. Hermosa Seorita board of directors declared and paid 800 SAR cash dividends to shareholders. Required: Apply the accounting cycle and worksheet using excel 1. Analyze business transaction 2. Journalize the transaction 3. Post to Ledger accounts. 4. Prepare an unadjusted trial balance 5. Journalize and post adjusting entries. Extra adjustment data appears on Jan 31, 2019 consist of: . makeup, massage oil, and Nile polish on hand 5000 SAR. . Depreciation is 3000 SAR 6. Prepare an adjusted trial balance 7. Prepare the 4 financial statements (Income Statement, retained earnings statement, Statement of Financial position, and cashflow statement) following the standards. 8. Journalize and post closing entries 9. Prepare a Post-closing trial balance