Tab 2 Only

Accountants no longer make manual entries in a General Journal or General Ledger. However, within modern accounting enftware, an equivalent process occurs. 1/5 1. Journal entries, representing financial transactions, are compiled in the General Journal database 2. Journal amounts are transferred into the General Ledger database 3. Balances in the General Ledger accounts are caried forward to a Trial Balance 4. Adjusting Journal Entries (AJEs) are compiled in the General Journal database 5. Amounts from Adjusting Journal Entries (AJEs) are added to the General Ledger database 6. Balances in the General Ledger accounts are camied forward to an Adjusted Trial Balance 7. The Adjusted Trial Balance amounts are formatted into the financial statements To help you experience the complete process, this assignment requires you to create General Journal entries, General Ledger entries, AJEs, a Trial Balance, an Adjusted Trial Balance, and financial statements. Use the following fact pattern to complete the appropriate tabs in the A1 Workbook, posted on Blackboard. A. Mega Computer Repair Service is owned by Jay Cutler. On December 31, 2011, at the end of the fiscal year, this was the Trial Balance MEGA REPAIR SERVICE Trial Balance December 31, 2011 Cash 8,000 Accounts Receivable 15,000 Supplies 13,000 Prepaid Rent 3.000 Equipment 20.000 Accounts Payable $19,000