Reference no: EM132777811

On December 1, 2019, SoccerBox Inc. started operations. The following transactions occurred during December 2019.

NOTE: There are no beginning balances-this is a new company.

Dec 1

Randol Espy invested $80,000 cash in the company for common stock.

2

SoccerBox purchased soccer equipment for $20,000 cash.

2

SoccerBox rented an old warehouse for $30,000 cash for the first year's (December 2019-November 2020) rent.

3

SoccerBox purchased $500 of office supplies with cash.

10

SoccerBox paid $12,000 cash for an annual insurance policy.

14

SoccerBox paid $4,000 cash for the first payroll earned by its employees.

24

SoccerBox received $85,000 cash from soccer fees paid by parents for a private youth soccer lesson.

28

SoccerBox paid $4,000 cash for 2 weeks' salaries earned by its employees.

29

SoccerBox paid $200 cash for minor repairs to its soccer equipment.

30

SoccerBox paid $150 cash for this month's telephone bill.

30

Dividends of $1,000 cash were paid by SoccerBox to its current shareholders.

Using this spreadsheet and the information above, complete the following:

Problem 1: Record the journal entries that occurred during the month of December.

Problem 2: Prepare an unadjusted trial balance.