Take the following transactions through the accounting cycle. The problem covers the month of January only. You should do the following:

1. Create a Chart of Accounts 2. Record the transactions in the General Journal. 3. Post the transactions to the ledger. Be sure to put account numbers on your ledger accounts and posting references in your General Journal. 4. Prepare a trial balance. 5. Adjust the books 6. Prepare an adjusted trial balance 7. Prepare an Income Statement and Balance sheet in good form. 8. Close the books 9. Prepare a Post-Closing Trial Balance.

Transactions in January 2018.

1/1 Bill Jones started a new business called Bills Landscaping Service. Inc. The company issued 300,000 shares of common stock, par $1, for $300,000. The $300,000 was deposited in a bank account.

1/1 Purchased a truck for $40,000, no salvage value, useful life 5 years, for cash.

1/2 Purchased a 3 year insurance policy for $7,200 cash.

1/3 Purchased land $10,000; paid $ 8,000 down, gave a non-interest bearing note payable for the balance

1/15 Signed a contract to perform landscaping for $48,000. The job will take 2 months and we are paid at the beginning of the job. We begin work on the job immediately.

1/15 Signed a contract to perform landscaping for $40,000. The job will take 2 months and we are paid at the end of the job. We begin work on the job immediately.

1/15 Purchased a computer for $ 4,800 cash, no salvage value, life 4 years.

1/20 Purchased office supplies for $ 2,000 on account

Additional Information: On 1/31, owed $800 wages and office supplies on hand totaled $ 1,500.