Use the information about Gary’s Computer Maintenance Ltd. (GCML) provided in Problem P3-18 to do the following:

a. Prepare all necessary transactional journal entries for the year ended December 31, 2013.

b. Prepare T-accounts and post each journal entry to the appropriate T-account.

c. Prepare and post adjusting journal entries to their appropriate T-accounts.

d. Prepare a trial balance as of December 31, 2013.

e. Prepare a balance sheet for GCML as of December 31, 2013 and an income statement and statement of retained earnings for the year ended December 31, 2013.

f. Prepare the closing journal entry and post the closing entry to the appropriate T-accounts.

g. Prepare an after-closing trial balance as of December 31, 2013.

h. Gary is pleased with the performance of his business and he is considering opening a second location. He would like to get another investor to purchase an equity interest in GCML and operate the new location. Based on your examination of the statements, what can you tell about GCML that would be useful to your decision to purchase an equity stake in GCML? Also, list five questions you might ask Gary that would help you use the financial statements more effectively.