Requirement 3. Prepare an unadjusted trial balance as of December 31, 2024. (Exclude any accounts with...
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Requirement 3. Prepare an unadjusted trial balance as of December 31, 2024. (Exclude any accounts with a zero balance from t Review the T-accounts you prepared in Requirement 2. Mass Delivery Service Unadjusted Trial Balance December 31, 2024 Account Title Balance Debit Credit Account Title Total December 31, 2024 Balance Debit Credit 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Accumulated Depreciation-Truck Accounts Payable Salaries Payable Retained Earnings Dividends Income Summary Service Revenue Salaries Expense Depreciation Expense-Truck Insurance Expense Fuel Expense Rent Expense Supplies Expense Unearned Revenue Common Stock 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2024. 4. Prepare a worksheet as of December 31, 2024. 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts. Adjustment data: Common Stock 2. Post the transactions in the T-accounts. Supplies Expense 3. Prepare an unadjusted trial balance as of December 31, 2024. 4. Prepare a worksheet as of December 31, 2024. 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts. Adjustment data: a. Accrued Salaries Expense, $1,600. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $7,600. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, $200. e. Unearned Revenue earned during the month, $400. f. Accrued Service Revenue, $1,450. 6. Prepare an adjusted trial balance as of December 31, 2024. 7. Prepare Mass Delivery Service's income statement and statement of retaed earnings for the month ended December 31, 2024, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount-that is, the largest expense first, the smallest expense last. 8. Journalize the closing entries and post to the T-accounts. 9. Prepare a post-closing trial balance as of December 31, 2024. 200 Dec. 27 Cash a Accounts Payable Dec. 1 16,000 1,680 Dec. 1 Dec. 30 200 Dec. 12. Dec. 20 1,600 550 Dec. 4 15,000 1,600 Dec. 18 Dec. 22 Dec. 25 2,100 2,100 Dec. 29 2,600 200 Dec. 30 3,100 Dec. 31 Salaries Payable Bal. 28,070 0 Bal Service Revenue 1,600 Dec. 12 2,600 Dec. 15 15,000 Dec. 20 1,500 Dec. 28 0 Bal 20,700 Bal Accounts Receivable- Unearned Revenue Salaries Expense Dec. 15 Dec. 28 2,600 1,500 2,600 Dec. 25 2,100 Dec. 22 Dec. 18 1,600 ball Bal 1,500 vid Office Supplies ala Dec. 4 550 024 Bal 550 2,100 Bal. Bal 1,600 Depreciation Expense-Truck Common Stock: 32,000 Dec. 1 32,000 Bal. Bal. Bal. 550 32,000 Bal. Bal Prepaid Insurance Retained Earnings Insurance Expense Dec 1 Bal 1,680 1,680 0 Bal. Bal. Truck Dividends Dec. 1 16,000 Bal 16,000 Dec. 31 Bal. " 3,100 3,100 Accumulated Depreciation-Truck 0 Bal Fuel Expense Dec. 27 200 Bal 200 Income Summary Rent Expense Dec. 29 2,100 Bal 2,100 Bal. Supplies Expense Requirement 3. Prepare an unadjusted trial balance as of December 31, 2024. (Exclude any accounts with a zero balance from t Review the T-accounts you prepared in Requirement 2. Mass Delivery Service Unadjusted Trial Balance December 31, 2024 Account Title Balance Debit Credit Account Title Total December 31, 2024 Balance Debit Credit 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Accumulated Depreciation-Truck Accounts Payable Salaries Payable Retained Earnings Dividends Income Summary Service Revenue Salaries Expense Depreciation Expense-Truck Insurance Expense Fuel Expense Rent Expense Supplies Expense Unearned Revenue Common Stock 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2024. 4. Prepare a worksheet as of December 31, 2024. 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts. Adjustment data: Common Stock 2. Post the transactions in the T-accounts. Supplies Expense 3. Prepare an unadjusted trial balance as of December 31, 2024. 4. Prepare a worksheet as of December 31, 2024. 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts. Adjustment data: a. Accrued Salaries Expense, $1,600. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $7,600. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, $200. e. Unearned Revenue earned during the month, $400. f. Accrued Service Revenue, $1,450. 6. Prepare an adjusted trial balance as of December 31, 2024. 7. Prepare Mass Delivery Service's income statement and statement of retaed earnings for the month ended December 31, 2024, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount-that is, the largest expense first, the smallest expense last. 8. Journalize the closing entries and post to the T-accounts. 9. Prepare a post-closing trial balance as of December 31, 2024. 200 Dec. 27 Cash a Accounts Payable Dec. 1 16,000 1,680 Dec. 1 Dec. 30 200 Dec. 12. Dec. 20 1,600 550 Dec. 4 15,000 1,600 Dec. 18 Dec. 22 Dec. 25 2,100 2,100 Dec. 29 2,600 200 Dec. 30 3,100 Dec. 31 Salaries Payable Bal. 28,070 0 Bal Service Revenue 1,600 Dec. 12 2,600 Dec. 15 15,000 Dec. 20 1,500 Dec. 28 0 Bal 20,700 Bal Accounts Receivable- Unearned Revenue Salaries Expense Dec. 15 Dec. 28 2,600 1,500 2,600 Dec. 25 2,100 Dec. 22 Dec. 18 1,600 ball Bal 1,500 vid Office Supplies ala Dec. 4 550 024 Bal 550 2,100 Bal. Bal 1,600 Depreciation Expense-Truck Common Stock: 32,000 Dec. 1 32,000 Bal. Bal. Bal. 550 32,000 Bal. Bal Prepaid Insurance Retained Earnings Insurance Expense Dec 1 Bal 1,680 1,680 0 Bal. Bal. Truck Dividends Dec. 1 16,000 Bal 16,000 Dec. 31 Bal. " 3,100 3,100 Accumulated Depreciation-Truck 0 Bal Fuel Expense Dec. 27 200 Bal 200 Income Summary Rent Expense Dec. 29 2,100 Bal 2,100 Bal. Supplies Expense
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Prepare journal entries as follows Date Account Titles Debit Credit Dec 01 Cash 7000 Truck 13000 Com... View the full answer
Related Book For
Horngrens Accounting
ISBN: 978-0133866889
11th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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