The instructions for the assignment is where it says "Required for December" and has part 1, part 2, part 3, and part 4.

Lawpo Sluggers, Inc. Lawpo Sluggers was incorporated on January 1, 2015 by the venerable Mr. Lawpo. The business was incorporated to sell and produce high-quality baseball bats to various MLB teams and regional retailers. During the final month of the first year of operations, Lawpo completed the following transactions: 12/1/2015 Lawpo Sluggers was in need of capital to expand their growing operations and decided to raise additional funds via a seasoned stock offering to the public. Lawpo Sluggers issued 1,000 shares of $10 par common stock for $40,000.00 12/1/2015 In order to support the rapidly growing operations, Lawpo purchased a building, piece of equipment, and the pa land. The cost of the building and land were determined to be $100,000.00 and $50,000, respectively. Moreover, Lawpo signed a note payable due in 5 years. The terms of the note are $165,000, 5-year at 8% interest payable monthly starting January 1, 2016. Lawpo was also required to make a down payment of $10,000 on the purchase. Determine the cost of the equipment and journalize the transaction. Check #295 was used for the down payment. 12/1/2015 Purchased an insurance policy for the newly purchased building for $1,200.00 with Check #296. The policy runs for a 2- year period, at which time Lawpo will have the ability for renew the policy. 12/2/2015 An error in recording supplies received last month was discovered. $300.00 of office supplies received should have been recorded as shop supplies. 12/3/2015 Sold $5,000.00 worth of baseball bats to the Philadelphia Phillies for cash. 12/4/2015 Sold $23,500.00 worth of baseball bats to the Sports Distributor, Inc. on account; terms 2/10, 1/30; invoice #20. 12/5/5015 Paid the remaining balance of $7,000.00 to Northwoods Ash with Check #297. The balance owed is 20 days past due. 12/5/2015 Purchased $9,750.00 of lumber on account from Maple Lumber Distributor; terms 2/10, n/30. 12/6/2015 Purchased $1,000.00 of shop supplies from Game Changing Paint Company on account. 12/7/2015 Purchased $7,000.00 of wood inventory from Ash Lumber Suppliers for cash. Check #298. 12/8/2015 To improve the recently purchased property, Lawpo hired contractors to install new fencing around the property for $260, provide landscaping services for $440, and install a new lighting system for $2.000. Lawpo also paid the contractors to level the land around the building for $3,000. Check #299 was mailed for the total amount of $5,700.00. 12/9/2015 Lawpo received an offer from the MLB to include its company in various advertisements at baseball stadiums across the country. The cost of the advertisement will be $3,000.00. Mr. Lawpo sent Check #300 to the MLB for the advertising expense. 12/10/2015 Sold bat merchandise on account to Bats-R-Us, Inc. for $20,000.00; terms 2/10, 1/30; invoice #21. 12/10/2015 Sold more bats to the New York Mets for $6,000.00 on account; terms n/30; invoice #22 12/11/2015 Received payment from Sports Distributor, Inc. for invoice #20. You must determine if this payment falls within the discount period. 12/12/2015 Sold bats to the Baltimore Orioles for $5,000.00 in cash. 12/13/2015 Mr. Lawpo determined that a certain amount of lumber purchased from Maple Lumber Distributors was rotted and deemed ineffective. The cost of the defective lumber was $1.900.00, which was returned, and a credit was subsequently received. 12/14/2015 Received full payment from Bats-R-Us, Inc. for the invoice #21 sale. 12/15/2015 Mailed Check #301 to Game Changing Paint Company for the shop supplies. 12/16/2015 Purchased furniture and fixtures for the new office for $12,000.00 cash. Check #303. 12/17/2015 The New York Mets returned $1,500.00 worth of bats because they were determined to be inadequate. Mr. Lawpo accepted the returned bats, and the Mets received a credit on their account. 12/18/2015 Paid the remaining balance due to Maple Lumber Distributors. Check #303. 12/19/2015 Purchased $600.00 of office supplies from Oakmont Custom Finish Paint for cash. Check #304. 12/20/2015 Sold more bats to the Philadelphia Phillies for $3,000.00 on account: terms n/30; invoice #23. 12/21/2015 Purchased $10,550.00 of lumber from Ash Lumber Suppliers on account; terms 2/10,n30. 12/22/2015 Purchased shop supplies from Northwoods Ash for $1.725.00 on account. 12/23/2015 Paid freight of $885.00 on incoming purchases with Check #305. It was determined that these purchases were all classified as FOB shipping point. 12/24/2015 Received a check for the remaining balance due from the New York Mets. 12/26/2015 Sold merchandise to Sports Distributor, Inc. for $22,500.00; invoice #24. 12/28/2015 Paid $1,220.00 for December utilities. Check #306. 12/29/2015 As part of the transition of moving to a new office building, Lawpo still make payment for rent in their old office space. Mr. Lawpo mailed Check #307 for $3,500.00 for the monthly rent expense. 12/30/2015 The Baltimore Orioles contacted Lawpo and placed their annual year-end order of baseball bats for a total of $25,000.00 on account; terms 2/10, n/30; invoice #25. 12/30/2015 Paid for the $10,550.00 of lumber purchased from Ash Lumber Suppliers within the discount period with Check #308. 12/31/2015 Lawpo rents out a portion of their branch office to a local accounting firm. Mr. Lawpo received a check for $2.500.00 for payment of January's rent. Required for December Part 1. Prepare the journal entries to record the December transactions. Part 2. Post to the Subsidiary Ledgers & General Ledger accounts and prepare an Unadjusted Trial Balance. Part 3. (a) (b) (c) (d) (e) (1) (g) (h) Prepare and post adjusting journal entries using the following information: Lawpo uses the periodic inventory system. After the 12/31/2015 inventory count, Lawpo determines that only $27.850.00 worth of lumber inventory is remaining Physical inventory of Office Supplies revealed that there was $3,500.00 on hand as of 12/31/2015. Physical inventory of Shop Supplies revealed that there was $4,275.00 on hand as of 12/31/2015. One month's interest needs to be accrued on the note payable. Interest is to be paid on January 1, 2016. The 2-year insurance policy for the newly purchased building needs to be amortized for one month. The building has a useful life of 20 years, no salvage value, and is depreciated under the straight-line method. The equipment has a useful life of 7 years, no salvage value, and is depreciated under the straight-line method. The land improvements have a useful life of 5 years, no salvage value, and are depreciated under the straight-line method. ) 6) The furniture & fixtures have a useful life of 7 years, no salvage value, and are depreciated under the straight-line method. The Board of Directors of Lawpo Sluggers declared a $3,785.00 dividend on 12/31/2015. During December, Louisville Sluggers sued Lawpo alleging trademark infringement. Lawpo's legal counsel has advised that it is reasonably possible that the company will be assessed damages. An amount can be estimated, and the amount Lawpo needs to accrue employee salaries of $8,033.00 for the month of December Lawpo also needs to accrue employer payroll taxes of $614.53 for the month of December Prepare an Adjusted Trial Balance. (1) Part 4. Prepare an Income Statement, a Statement of Retained Earnings, and a Balance Sheet for December. Prepare and post the closing entries. Prepare a Post-closing Trial Balance