Your Company was incorporated on January 1, 2021. The business provides a full range of landscaping services, including landscape design, construction, and maintenance. Attached is a listing of all transactions that occurred during the first three months of operations (Project 1 DETAIL.pdf).
Using the attached template (Project 1 Template.xlsx) complete the following tasks:
- Prepare journal entries for each transaction listed above (with descriptions).
- Post journal entries to the general ledger accounts.
- Prepare an unadjusted trial balance.
- Prepare all necessary adjusting journal entries (with descriptions) and post to the general ledger.
- Prepare an adjusted trial balance.
- Prepare the following financial statements:
- Income Statement
- Statement of Stockholders’ Equity
- Balance Sheet (classified)
- Prepare closing entries and post to the general ledger