Using the adjusted trial balance, prepare an income statement, a statement of retained earnings and a balance sheet.

For the past several years, Aaron Jones has operated a consulting business from his home on a parttime basis As of December 120X1 Aaron decided to move to rented cularters and incornorate his bu: $1 De 1. Make copies of the required forms (see attached forms and instructions). Then, using the chart of accounts shown below, set up the general ledger. 1 2. Journalize each of the above transactions. EXPLANATIONS ARE NOT REQUIRED. 3. Post the entries to the ledger. 4. Prepare a trial balance as of December 31, 20X1. USE THE FORMAT SHOWN ON PAGE 84 OF THE CLASS TEXT. 5. Journalize and post the adjusting entries using the following information: a. Insurance expired during December is $150. b. Supplies on hand on December 31 are valued at $1,320. c. Depreciation of office equipment for December is $248. d. Rent expired during December is $1,500. e. Determined that company had performed $2,500 of the services for which it was paid on December 4th. f. Employees were owed $1,000 for the month of December. They were paid on January 2nd g. Services were performed for a client on December 31 in the amount of $750. The client did not pay nor has the client been billed. 6. Prepare an adjusted trial balance. USE THE FORMAT SHOWN ON PAGE 132 OF THE CLASS TEXT. earnings, and a balance sheet. USE THE FORMATS STARTING ON PAGE 134 OF THE CLASS TEXT. 8. Journalize and post the closing entries. 9. Prepare a post-closing trial balance. USE THE FORMAT SHOWN ON PAGE 142. 10. After you have completed the problem, arrange the pages of your solution in the following order: a. Journals b. Ledger c. Trial Balance d. Adjusted Trial Balance e. Post-closing Trial Balance f. Income Statement g. Balance Sheet h. Statement of Retained Earnings DO NOT turn in the problem requirements packet or any pages other than those listed above. 11. PRINT your name in the lower right corner of each page. Scan and upload the file to Blackboard using an actual scanner, no pictures with your phone! STAPLE the pages together in the upper left hand corner and maintain for your use