Comprehensive Problem 4-1 (book/static) s Question Help Miller Delivery Service completed the following transactions during December 2016: (Click the icon to view the transactions.) 10,50 Read the requirements Dec. 31 TICome Summary Clos. (3) Retained Earnings 16,350 Close dividends. Review the Balance Sheet columns of the worksheet completed in Requirement 4. Date Accounts Debit Credit Dec. 31 Cash Truck 22900 20000 Clos. (4) Common Stock 30000 Choose from any list or enter any number in the input fields and then click Check Answer. Balance Sheet columns of worksheet Miller Delivery Service Worksheet (Partial) December 31, 2016 Balance Sheet Account Title Debit Credit Cash 22,900 Accounts Receivable 1,350 Office Supplies 100 Prepaid Insurance 750 Truck 20,000 Print Done 250 0 1,000 500 30,000 3,000 Acc. Dep. Truck Accounts Payable Salaries Payable Unearned Revenue Common Stock Dividends Service Revenue Salaries Expense Dep. Exp. Truck Insurance Expense Fuel Expense Rent Fynense 3,000 Dividends Service Revenue Salaries Expense Dep. Exp. Truck Insurance Expense Fuel Expense Rent Expense Supplies Expense 48,100 31,750 Net income or loss 16,350 48,100 || 48,100 0 Requirements 1. Record each transaction in the journal using the following chart of accounts Explanations are not required. Cash Retained Earnings Accounts Receivable Dividends Office Supplies Income Summary Prepaid Insurance Service Revenue Truck Salaries Expense Accumulated DepreciationTruck Depreciation Expense-Truck Accounts Payable Insurance Expense Salaries Payable Fuel Expense Unearned Revenue Rent Expense Print Done Salaries Payable Fuel Expense Unearned Revenue Rent Expense Common Stock Supplies Expense 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2016. 4. Prepare a worksheet as of December 31, 2016. 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, $1,000. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $5,000. Dronnid nirad 4. Prepare a worksheet as of December 31, 2016. 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, $1,000. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $5,000. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, $100. e. Unearned Revenue earned during the month, $300. f. Accrued Service Revenue, $650. 6. Prepare an adjusted trial balance as of December 31, 2016. 7. Prepare Miller Delivery Service's income statement and statement of retained earnings for the month ended December 31, 2016, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amountthat 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, 2016. Comprehensive Problem 4-1 (book/static) s Question Help Miller Delivery Service completed the following transactions during December 2016: (Click the icon to view the transactions.) 10,50 Read the requirements Dec. 31 TICome Summary Clos. (3) Retained Earnings 16,350 Close dividends. Review the Balance Sheet columns of the worksheet completed in Requirement 4. Date Accounts Debit Credit Dec. 31 Cash Truck 22900 20000 Clos. (4) Common Stock 30000 Choose from any list or enter any number in the input fields and then click Check Answer. Balance Sheet columns of worksheet Miller Delivery Service Worksheet (Partial) December 31, 2016 Balance Sheet Account Title Debit Credit Cash 22,900 Accounts Receivable 1,350 Office Supplies 100 Prepaid Insurance 750 Truck 20,000 Print Done 250 0 1,000 500 30,000 3,000 Acc. Dep. Truck Accounts Payable Salaries Payable Unearned Revenue Common Stock Dividends Service Revenue Salaries Expense Dep. Exp. Truck Insurance Expense Fuel Expense Rent Fynense 3,000 Dividends Service Revenue Salaries Expense Dep. Exp. Truck Insurance Expense Fuel Expense Rent Expense Supplies Expense 48,100 31,750 Net income or loss 16,350 48,100 || 48,100 0 Requirements 1. Record each transaction in the journal using the following chart of accounts Explanations are not required. Cash Retained Earnings Accounts Receivable Dividends Office Supplies Income Summary Prepaid Insurance Service Revenue Truck Salaries Expense Accumulated DepreciationTruck Depreciation Expense-Truck Accounts Payable Insurance Expense Salaries Payable Fuel Expense Unearned Revenue Rent Expense Print Done Salaries Payable Fuel Expense Unearned Revenue Rent Expense Common Stock Supplies Expense 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2016. 4. Prepare a worksheet as of December 31, 2016. 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, $1,000. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $5,000. Dronnid nirad 4. Prepare a worksheet as of December 31, 2016. 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, $1,000. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $5,000. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, $100. e. Unearned Revenue earned during the month, $300. f. Accrued Service Revenue, $650. 6. Prepare an adjusted trial balance as of December 31, 2016. 7. Prepare Miller Delivery Service's income statement and statement of retained earnings for the month ended December 31, 2016, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amountthat 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, 2016