Requirement 1.

Journalize thetransactions, using the followingaccounts: Cash; AccountsReceivable; OfficeSupplies; Equipment;Furniture; AccountsPayable; UnearnedRevenue; CommonStock; Dividends; ServiceRevenue; RentExpense; and Utilities Expense. Explanations are not required. (Record debitsfirst, then credits. Exclude explanations from journal entries. If no entry isrequired, select"No entryrequired" on the first line of the Accounts column and leave all other cellsblank.)

Dec.Dec.2: Stockholders contributed $33,000cash in exchange for common stock.

More Info 10/22/16, 9)05 AM Dec. 2 Stockholders contributed $33,000 cash in exchange for common stock. 2 Paid monthly office rent, $3,300. 3 Paid cash for a computer, $2,400. This equipment is expected to remain in service for five years. 4 Purchased office furniture on account, $3,650. The furniture should last for five years. 5 Purchase office supplies on account, $200. 9 Performed consulting service for a client on account, $2,800. 12 Paid utilities expenses, $340. 18 Performed service for a client and received cash of $2,900. 21 Received $3,000 in advance for client service to be performed in the future. 21 Hired an administrative assistant to be paid $1,500 on the 20th day of each month. The secretary begins work immediately. 26 Paid $100 on account. 28 Collected $900 on account. 30 Paid cash dividends of $600 to stockholders. https://xlitemprod.pearsoncmg.com/Player/Player.aspx?cultureId=&t...ounting&disableStandbyIndicator=true&assignmentHandlesLocale=true Page 1 of 1 Requirements 10/22/16, 9)06 AM 1. Journalize the transactions, using the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment; Furniture; Accounts Payable; Unearned Revenue; Common Stock; Dividends; Service Revenue; Rent Expense; and Utilities Expense. Explanations are not required. 2. T-accounts have been opened for you. Post the journal entries to the T-accounts and calculate account balances. Use the transaction dates as posting references. 3. Prepare a trial balance as of December 31, 2016. 4. Prepare the income statement of Drake Consulting for the month ended December 31, 2016. 5. Prepare the statement of retained earnings for the month ended December 31, 2016. 6. Prepare the balance sheet as of December 31, 2016. 7. Calculate the debt ratio for Drake Consulting. https://xlitemprod.pearsoncmg.com/Player/Player.aspx?cultureId=&t...ounting&disableStandbyIndicator=true&assignmentHandlesLocale=true Page 1 of 1