Requirement 1.Journalize and post the transactions. Compute each account balance, and denote the balance as Bal. Begin by journalizing the January transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate. When applicable, use the accounts provided in the problem for assistance with account names, and use "Income Summary" as appropriate.)

January 31:Recorded adjusting entries.

Post the January transactions using the dates and adjusting references as appropriate. Compute each account balance, and denote the balance as Bal.

Requirement 2. Prepare the month ended January 31, 2017 income statement of Dunst Consulting. Use the multi-step format. List Service Revenue under gross profit and ignore classifying the expenses as selling and administrative. (Check your spelling carefully and do not abbreviate. When applicable, use the accounts provided in the problem for assistance with account names, and use "Income Summary" as appropriate.)

Requirement 3. Journalize and post the closing entries. Denote each closing amount as Clo. After posting all closing entries, prove the equality of debits and credits in the ledger.

Begin by journalizing the closing entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate. When applicable, use the accounts provided in the problem for assistance with account names, and use "Income Summary" as appropriate.)

Start by closing revenues.

Post the closing entries. Use "Clo." and the corresponding number as shown in the journal entry as posting

referencesl Enter the adjusted balance of each account and select a "Bal." reference to identify the unadjusted balances. Post any closing entries to the accounts and then calculate the post-closing balance ("Bal.") of each account (including those that were not closed). For any accounts with a zero balance after closing, select a "Bal." reference and enter a "0" on the normal side of the account. For Income Summary, calculate and enter the balance ("Bal.") before posting the entry to close out the account. Post the entry to close Income Summary account on the same line as you entered the balance prior to closing (the second line) and then show the post-closing balance ("Bal.") on the last (third) line of the account.

After posting all closing entries, prove the equality of debits and credits in the ledger by preparing a post-closing trial balance.

Requirement 4. Compute the gross profit percentage of Dunst Consulting. (Round the gross profit percentage to the nearest tenth of a percent, X.X%.)

This Question 50 pts 1 of 3 (0 complete More Info Dunst Consulting perfo During J 2016. (Click the icon to v Software Inventory. so: Prepaid Rent, $0. Sales Revenue, $0: Cost of Goods The company has also sold, $0 software inventory. Read the Print Done Requirement 1. Journ Begin by journalizing the January transactions (Record debits first then credits elect the explanation on the last line of the accounts provided in the problem for assistance with account names, and use ncome Summary" as appropriate. Jan. 2. Completed a consulting engagement and received cash of $9.100. Date Accounts and Explanation Debit credit Jan. 2 Jan. 2: Prepaid three months office rent, $3,600. Choose from any list or enter any number in the input fields and then continue to the next question This Test 00 pts possib More info Jan. 2 Completed a consulting engagement and received cash of $9.100. 2 Prepaid three months office rent, $3,600. 7 Purchased 95 units software inventory on account, $1,705, plus freight in, $100. 18 Sold 40 software units on account, $3,400 (cost $760). 19 Consulted with a client for a fee of $1,500 on account. 20 Paid employee salaries, $1,200, which includes accrued salaries from December. 21 Paid on account, S1,810. 22 Purchased 220 units software inventory on account. S5.720. 24 Paid utilities, $400. 28 Sold 80 units software for cash, $4,800 (cost $1,695) 31 Recorded the following adjusting entries: a. Accrued salaries expense, $400 b. Depreciation on Equipment, $20. Depreciation on Furniture, $40 c. Expiration of prepaid re $1.200 d. Physical count of software inventory, 190 units, $4.940 Print Done