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Task: You are to perform the accounting cycle by: Performing Transaction Analysis Preparing journal entries Create a ledger Create Financial Statements: o Income Statement, Statement of Owners Equity & Balance Sheet The following transactions occurred for Bell's Beauty Salon during the month of April. A. On April 1 you buy insurance for the year for $1,000. B. You give the business $5,000 April 2nd C. The next day, you buy a car for $11,000 where you put $3,500 down and the rest on account due in 5 years from Cars-4-U. You plan selling it after 5 years for $2,500. D. April 5, you buy makeup supplies on account from Beauty Supplies for $2,400 due in 6 equal monthly payments. E. You pay rent for $800 on April 6. F. You do a service for $1,000 on the 7. G. On the 8", you do a service for Mrs. Purple for $600 where she will pay you next week. H. On the 9, Ms. Pink pays you $1,200 for a makeover for her wedding you will do next week, 1. On the 10", You pay your assistant $400 for the week. J. On the 11" you donate a $5,000 piece of equipment (Beauty Tools) to the business. K. You take $50 out for your lunch on the 14" L. On the 17" you make a payment on your supplies to Beauty Supplies. M. Mrs. Purple pays you April 19" N. You did the service for Ms. Pinks wedding on April 20% 0. You did a service for $400 April 21". P. You pay a phone bill for the company for $100 April 24 Q. On April 26", Mr. Green came in a paid you $500 for a service you will do next month. R. You take $40 of supplies home for personal use April 284. Adjusting Entries: End of Period April 30th Record using $700 of supplies this month Record using 1 month of insurance this month Record $200 out of $400 of salary that occurred this month, in which you will pay next month Amortize your vehicle for 1 month

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