Required:
1. Prepare journal entries to record the December 2012 transactions.
2. Post those entries to t-accounts.
3. Prepare journal entries for the required adjusting entries.
4. Post the adjusting entries to the t-accounts.
5. Calculate balances for each of the t-accounts and then prepare an adjusted trial balance as of December 31, 2012.
6. Prepare an income statement for the month ended December 31, 2012.
7. Prepare a statement of retained earnings for the month ended December 31, 2012.
8. Prepare a balance sheet as of December 31, 2012.
9. Prepare closing entries and post them to the t-accounts.
10. Prepare a post-closing trial balance as of December 31, 2012.