Business, 24.06.2020 02:01 kndaniels05

Required: 1. Prepare journal entries to record the December transactions in the General Journal Tab . Use the following accounts as appropriate: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense.
1-Dec Began business by depositing $10000 in a bank account in the name of the company in exchange for 1000 shares of $10 per share common stock.
1-Dec Paid the rent for the current month, $1400 .
1-Dec Paid the premium on a one-year insurance policy, $1200 .
1-Dec Purchased Equipment for $3600 cash.
5-Dec Purchased office supplies from XYZ Company on account, $300 .
15-Dec Provided services to customers for $9000 cash.
16-Dec Provided service to customers ABC Inc. on account, $7900 .
21-Dec Received $3300 cash from ABC Inc., customer on account.
23-Dec Paid $170 to XYZ company for supplies purchased on account on December 5 .
28-Dec Paid wages for the period December 1 through December 28, $4760 .
30-Dec Declared and paid dividend to stockholders $200 .
2. Post all of the December transactions from the "General Journal" tab to the T-accounts under the "T-Accounts" tab (Assume there are no beginning balances in any of the accounts.)
3. Compute the balance for each T-account after all of the entries have been posted. These are the unadjusted balance as of December 31.
4. Prepare the unadjusted trial balance under the "Unadjusted Trial Balance" tab in the excel template file "Accounting Cycle Excel Template. xlsx" . Provide the total of the credit column from the Unadjusted Trial Balance
5. Record the following four transactions as adjusting entries under the "General Journal" tab.
31-Dec One month's insurance has been used by the company $100.
31-Dec The remaining inventory of unused office supplies is $90.
31-Dec The estimated depreciation on equipment is $60.
31-Dec Wages incurred from December 29 to December 31 but not yet paid or recorded total $510.
6. Post all of the adjusting entries to the T-accounts under the "T-Accounts" tab. Compute the balance for each T-account after all of the adjusting entries have been posted. These are the adjusted balance as of December 31.

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Required: 1. Prepare journal entries to record the December transactions in the General Journal Tab...

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