Laura Eddy’s opened Eddy’s Carpet Cleaners on March 1, 2017. In March, the following transactions where completed: 1 Laura invested $10 000 cash in…

31 Withdrew $900 cash for personal use.

Instructions

a) Journalize and post the March transactions.

b) make a trial balance at March 31.

c) Journalize and post the following adjustments:

1. The truck has an estimated usefull life of five years.
2. One twelfth of the insurance expired.
3. An inventory count shows $400 of supplies on hand at March 31.
4. Accrued but unpaid employee salaries were $500.
5. The note payable has 4.5% annual interest rate.
6. Earned buy unbilled fees at March were $500.

d) do adjusted trial balance.

e)Prepare the income statement and statement of owners equity for March, and classified balance sheet at March 31, 2017. Of the note payable, $2,000 must be paid by March 1, 2018.

f) Journalize and post the closing entries.

g) make post- closing trial balance at March 31.