Use thistemplatefor your assignment.Final Project OverviewThroughout this course you have learned various components of accounting. These components work hand-in-hand to create the accounting cycle the process of recording summarizing and reporting transactions. The final project will provide you the opportunity to apply the skills covered in this course through the completion of the accounting cycle. In addition you will be able to demonstrate your understanding through analysis of the completed information.Final Project DataOn December 1 2015 John Trap created a new travel agency Trap Adventures Inc. providing exclusive adventure trips. The following transactions occurred during December 2015.(NOTE: There are no beginning balances this is a new company.)
John Trap invested $60000 cash in the company for common stock.
Purchase office equipment for $17500 cash.
The company rented furnished office space by paying $18000 cash for the first six months (December 2015 May 2016) rent.
The company purchased $1500 of office supplies on account.
The company paid $3600 cash for the premium on a 12-month insurance policy.
The company paid $10750 cash for two weeks’ salaries earned by employees.
The company collected $54000 cash on commissions from airlines on tickets obtained for customers.
The company paid $12125 cash for two weeks’ salaries earned by employees.
The company paid $350 cash for minor repairs to the company’s computer.
The company paid $450 cash for this month’s telephone bill.
Dividends of $3000 cash were paid.
Final Project RequirementsUsing the spreadsheet foundhereand information above complete the following:
Please submit your assignment.
For assistance with your assignment please use your text Web resources and all course materials.