upon the principles and rules of U.S. Generally Accepted Accounting Principles (GAAP). Business activity is recorded on an accrual basis. The company employs the perpetual inventory system in accounting for its merchandise inventory. The company operates using a January through December fiscal year. The balances of the accounts in the general ledger as of November 30 of the current fiscal year are as follows: No transactions affecting common stock occurred during this fiscal year. During December, the last month of the fiscal year, the following transactions were completed: 1. Enter the balances of each of the accounts as of November 30 in the appropriate balance column of a T account (use account names and numbers) or a four-column account. [You are creating the General Ledger.] 9. Prepare a Post-Closing Trial Balance as of December 31. upon the princples and rules of Us. Generally Aocephed Acoourang Peneples (GAAP). Huriness actrety is tecorded on an accrual basis. The compary employs the perpeaial inventory syshen in acoounting for is merchardse imeribiy. The conpsisy operabes uning a Jarkasy though Deceritee year are as tolows. 1 had traneactions aftecting conmon siock oooured diuring this fiscal year. During Decerrber, the last moeth of the fescal year, the following uansacoons were complesed. INSTRUCTIONS: ROUND ALL AMOUNTS TO THE NEAREST DOLLAR, AS NECESSARY! 1. Enter the balances of each of the accounts as of November 30 in the appropriate balance column of a T account (use account names and numbers) or a four-column account. [You are creating the General Ledger.] 2. Journalize (using the General Journal) the transactions for December. 3. Post the December journal entries to the General Ledger, computing the year-end balances after all posting is completed. 4. Prepare an Unadjusted Trial Balance as of December 31. 5. Analyze the following adjustment data assembled at the end of December. Use the adjustment data to iournalize. then nost. the necessarv adiusting entries. o. rrepare an majusted inal balance as or vecemoer 31. 7. Prepare, in good form, a multiple-step Income Statement, a Statement of Stockholders' Equity, and a classified Balance Sheet at the end of the December 31 fiscal year. Retained earnings as of 11/30 equaled retained earnings as of beginning of the fiscal year (1/1). 8. Journalize and post the necessary closing entries. 9. Prepare a Post-Closing Trial Balance as of December 31