The school project will be graded on the content and format of balance sheet and content and format of income statement

The school project will be graded on the content and format of balance sheet and content and format of income statement. The rest of the materials are needed to complete this project accurately but only only things graded and need to be 100% correct are the balance sheet and income statement.

You will need to set up the initial books of accounting. Next, record all the indicated transactions into the appropriate journals and post them accordingly. Then you'll prepare a worksheet, create the necessary financial statements for the company's calendar year end, and finally close the accounting period.