You open your own business and complete these transactions in September: 1 You invest cash in your sole proprietorship. 2 Prepay twelve months' rent for with cash. 3 Make credit purchase of office equipment. 4 Complete work for a client and immediately received cash. 5 Complete a project for a client on account. 6 Pay cash toward purchase in 3. 7 Receive partial payment for work completed in 5. 8 Purchase office supplies on account. 9 Pay cash for this month's utility bill. 10 Pay employee's wages. 11 Withdraw cash from business Amount $175,000 $26,250 $21,875 $15,313 $32,813 $8,750 $26,250 $3,281 $1,094 $3,938 $3,500 At the end of the month the following adjustments were required: 12 One month's prepaid rent has expired 13 Office supplies on hand at the end of the month were 14 Wages accrued but unpaid 15 Fees earned but unbilled 16 Depreciation Expense ????? $1,094 $1,969 $10,938 $1,750 Required: A Journalize and post to T-accounts transactions 1-11. B Complete a worksheet using the adjustments in transactions 12-16. C Prepare an income statement, statement of owner's equity, and a balance sheet D Journalize closing entries E Prepare a post-closing trial balance Chart of Accounts Cash Accounts Receivable Office Supplies Prepaid Rent Office Equipment Accumulated Depreciation Accounts Payable Wages Payable Capital Drawing Fees Earned Wage Expense Rent Expense Office Supplies Expense Depreciation Expense Utility Expenses Closing Entries & PC Trial Bal Closing Entries 1 Income Summary 2 Capital 3 4 Post Closing Trial Balance Debit Credit