The following steps need to be completed (they are listed on the paper but some are hard to see):

1. Prepare daily journal entries.

2. Post journal entries to t-accounts.

3. Prepare a trial balance.

4. Prepare and post adjusting journal entries.

5. Prepare an Adjusted Trial Balance.

6. Prepare the financial statements: Income Statement, Statement of Retained Earnings, Classified Balance Sheet.

7. Prepare and post closing entries.

8. Prepare a post closing trial balance

hapter 4 6. Prepare the closing entries, and post to the accounts. 7. Prepare a post-closing trial balance 8. Calculate the current ratio for the company ning Objectives 1, 2, 3, P4-33A Completing the accounting cycle from journal entries to post-closing trial balance with an optional worksheet On December 1, Bob Waldo began an auto repair shop, Walio's Quality Automotive. The following transactions occurred during December g Retained Earnings $5,05 Dec.1 Waldo contributed $70,000 cash to the business in exchange for shares of common stock. 1 Purchased $12,000 of equipment paying cash. 1 Paid $1,750 for a five-month insurance policy starting on December 1 9 Paid $20,000 cash to purchase land to be used in operations 10 Purchased office supplies on account, $2,800 19 Borrowed $15,000 from the bank for business use. Waldo signed a note payable 22 26 28 31 to the bank in the name of the corporation. The note is due in five years Paid $1,300 for advertising expenses. Paid $900 on account. The business received a bill for utilities to be paid in January, $280. Revenues earned during the month included $16,000 cash and $3,600 on account. 31 Paid employees' salaries $3,800 and building rent $1,200. Record as a compound 31 The busiress received $1,440 for auto screening services to be performed next 31 Paid cash dividends of $5,500 to stockholders month. The business uses the folloning accounts Cash; Accounts Receivable; Office Supplies Prepaid Insurance; Land, Egipmen Accumulated Depreciation Equipme; Accounts Payable; Utilities Payable Interest Payable; Unearned Revenue; Notes Payable; Common Stock; Retained Earmings Dividends; Income Summary,; Service Revenue; Salaries Expense, Rent Fxpense Ualitis Expense Advertising Expense, Supplics Expense, Insurance Expense Interest Expense and Depreciation Expenso-Equipment. Adjustment data: a. Office Supplies used during the month, $1,800. b. Depreciation for the month, $200 e. One month insurance has expired d. Accrucd Intcrest Expense, $75. 1. Prepare the journal entries, and post to the T-accounts. 2. Prepare an unadjusted trial balance 3. Complcte the worksheet for the month ended December 31, 2018 (optional). 4. Prepare the adjusting entries, and post to the T-accounts. 5. Prepare an adjusted trial balance 1 of 1 ins trial balane