Reference no: EM132326422
Assignment
#1 Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel
Template.xlsx". 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, $900 .
1-Dec Paid the premium on a one-year insurance policy, $480 .
1-Dec Purchased Equipment for $4800 cash.
5-Dec Purchased office supplies from XYZ Company on account, $300
15-Dec Provided services to customers for $7000 cash.
16-Dec Provided service to customers ABC Inc. on account, $4900 .
21-Dec Received $2300 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, $4200 .
30-Dec Declared and paid dividend to stockholders $200 .
Post all of the December transactions from the "General Journal" tab to the T-accounts under the "T-Accounts" tab in the excel template file
#2 "Accounting Cycle Excel Template.xlsx". 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.