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Requirement 1. Journalize the transactions, using the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment; Furniture; Accounts Payable; Unearned Revenue; CommonStock; Dividends; Service Revenue; Rent Expense; and Utilities Expense.

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Journalize the transactions, using the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment; Furniture; Accounts Payable; Unearned Revenue; CommonStock; Dividends; Service Revenue; Rent Expense; and Utilities Expense. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry isrequired, select “No entry required” on the first line of the Accounts column and leave all other cells blank.)

Dec.Dec.2: Stockholders contributed $33,000 cash in exchange for common stock

Journalize the transactions, using the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment; Furniture; Accounts Payable; Unearned Revenue; CommonStock; Dividends; Service Revenue; Rent Expense; and Utilities Expense. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry isrequired, select “No entry required” on the first line of the Accounts column and leave all other cells blank.)

Dec.Dec.2: Stockholders contributed $33,000 cash in exchange for common stock

Journalize the transactions, using the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment; Furniture; Accounts Payable; Unearned Revenue; Common Stock; Dividends; Service Revenue; Rent Expense; and Utilities Expense. Explanations are not required. 2. T-accounts have been opened for you. Post the journal entries to the T-accounts and calculate account balances. Use the transaction dates as posting references. 3. Prepare a trial balance as of December 31, 2016. 4. Prepare the income statement of Consulting for the month ended , . Drake December 31 2016 5. Prepare the statement of retained earnings for the month ended , . December 31 2016 6. Prepare the balance sheet as of December 31, 2016. 7. Calculate the debt ratio for Drake Consulting.

 
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