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CENT 1400 Accounting And Financial Management

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Question:

Requirement-1: Journalize the following transactions.
Requirement-2: Post from journal to ledger accounts and then Prepare a trial balance for the end of Jan.
Requirement-3: Continue the journal entries for Feb.Requirement-4: Post from journal to ledger accounts and then Prepare a trial balance for the end of Feb.
Requirement-5: Journalize the adjustments for the following cases:
a. Two months of the insurance has expired.
b. Only $500 of supplies are left.
c. Equipment in the restaurant depreciated $500 per month. Equipment in the coffee shop depreciated $300 per 
month. Furniture in restaurant depreciated $300 per month and in coffee shop $200 per month.
Requirement-6: Prepare an adjusted trial balance.
Requirement-7: Prepare Income Statement, RE Statement, and Balance Sheet.
Requirement-8: Go through the closing process and close temporary accounts based on the recent adjusted trial balance. Then prepare a post-closing trial balance.

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