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G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work Green Initiatives began operations on October 1, 2019. The November 30, 2019 unadjusted trial balance is included on the trial balance tab. Record the following transactions and events for December, 2019. 25 Dec. 2 Paid $1, 090 cash to Southview Mall for Green Initiatives' share of mall advertising costs. points Dec. 3 Paid $540 cash for minor repairs to the company's computer. Dec. 4 Received $7,000 cash from Jackson Engineering Co. for the receivable from November. Dec. 10 Paid cash to Michael Green for six days of work at the rate of $180 per day. Dec. 14 Notified by Jackson Engineering Co. that Green Initiatives' bid of $7, 200 on a proposed project has been accepted. Jackson paid a $1, 600 cash advance to Green Initiatives. eBook Dec. 15 Purchased $2,300 of computer supplies on credit from Pelcher Office Products. Dec. 16 Sent a reminder to Hayes Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for Brady Corporation and received $8, 000 cash. Dec. 28 Received $4, 600 cash from Hayes Co. on its receivable. Dec. 29 Reimbursed M. Green for business automobile mileage (800 miles at $0.32 per mile). Print Dec. 31 M. Green withdrew $2, 600 cash from the company for personal use. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the References company's first three months. a. The December 31 inventory count of computer supplies shows $1,540 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Michael Green has not been paid for four days of work at $180 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value. f. Three of the four months' prepaid rent have expired. Requirement General General Income St Owners Journal Ledger Trial Balance Statement Equity Balance Sheet Impact on Income The unadjusted or adjusted balances will appear for each account, based on your selection. Unadjusted GREEN INITIATIVES Statement of Owner's Fauity Mc Graw Hill Education Prev 1 of 2 iii Next ) dill Q l 9 L ,_ 9neWCOnnectmheducaiion,com 6' ' o ' ' ] ' a] Comprehensive Problem 0 Saved Help Save 0. Exit Submit 1 General General . Income St Owners impact on Requirement Journal Ledger Trial Balance Statement Equity Balance Sheet Income 25, Prepare journal entries for each of the December transactions. If no journal entry is required, select "No journal entry pm\" required" in the first account eld. Then, using the 3-step adjusting entry process, and the Information given for adjustmenis, prepare the adjusting entry necessary to correctly report the revenue earned or the expense Incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. El Show lessA eBook E! I 1 Dec 02 Advertising expense 1,090 \"B Cash 1,090 References I 2 Dec 03 Repairs expense - Computer 540 Cash 540 I 3 Dec 04 Aooounis receivable 1,000 Cash 7,000 I 4 Dec 10 Wages expense General Ledger > Prev 1 of 2 iii Next > G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work Requirement General General St Owners Impact on Journal Trial Balance Income Ledger Statement Equity Balance Sheet Income 25 points Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances eBook Unadjusted General Ledger Account Print Cash Accounts receivable n No. Date Debit Credit Balance No. Date Debit Credit Balance 17,400 References Nov 30 35,200 Nov 30 1 Dec 02 1,090 34, 110 3 Dec 04 7,000 24,400 2 Dec 03 540 33,570 3 Dec 04 7,000 26,570 Computer supplies Prepaid insurance No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 30 3,270 Nov 30 3,440 Prepaid rent Office equipment No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 30 3, 100 Nov 30 4,400 Computer equipment M. Green, Capital No Date Debit Credit Balance No. Date Debit Credit Balance Nov 30 25, 120 Nov 30 35,000 Mc Graw Hill Education G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 30 8,100 Nov 30 14,400 Computer equipment M. Green, Capital 25 No. Date Debit Credit Balance No. Date Debit Credit Balance points Nov 30 25, 120 Nov 30 85,000 M. Green, Withdrawals Computer services revenue eBook No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 30 7,800 Nov 30 37,600 Print Wages expense Advertising expense No. Date Debit Credit Balance No. Date Debit Credit Balance n Nov 30 3,780 Nov 30 1,850 References Dec 02 1,090 2,940 Mileage expense Miscellanous expenses No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 30 880 Nov 30 490 Repairs expense - Computer No. Date Debit Credit Balance Nov 30 870 2 Dec 03 540 1,410 General Journal Trial Balance > Mc Graw Hill Education G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work Requirement General General Income St Owners Journal Equity Balance Sheet Impact on Ledger Trial Balance Statement Income 25 You may view either the unadjusted or adjusted trial balance by choosing from the drop-down box below. Your points choice will determine the reported values on the financial statement tabs. Unadjusted eBook GREEN INITIATIVES Trial Balance December 31, 2019 Print Account Title Debit Credit Cash $ 26,570 Accounts receivable 24,400 References Computer supplies 3,27 Prepaid insurance 3,440 Prepaid rent 8, 100 Office equipment 14,400 Computer equipment 25, 120 M. Green, Capital 35,000 -M. Green, Withdrawals 7,800 Computer services revenue 37,600 Wages expense 3,780 Advertising expense 2,940 Mileage expense 880 Miscellanous expenses 490 Repairs expense - Computer 1,410 Total $ 122,600 $ 122,600 Mc Graw Hill Education G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work Requirement General General Journal Ledger Trial Balance Income St Owners Balance Sheet Impact on Statement Equity Income 25 Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection. points Unadjusted GREEN INITIATIVES eBook Income Statement For Three Months Ended December 31, 2019 Print Revenues: $ o n References Expenses o o o o o O O O O O O Net income $ Trial Palance Mc Graw Education G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work a. The December 31 inventory count of computer supplies shows $1,540 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Michael Green has not been paid for four days of work at $180 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. 25 e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value. points f. Three of the four months' prepaid rent have expired. Requirement General General St Owners eBook Journal Ledger Trial Balance Income Statement Equity Balance Sheet Impact on Income The unadjusted or adjusted balances will appear for each account, based on your selection. Print Unadjusted n GREEN INITIATIVES References Statement of Owner's Equity For Three Months Ended December 31, 2019 M. Green, Capital, October 1, 2019 $ Add: Investments by owner $ 85,000 35,000 35,000 Less: Withdrawals by owner 7,800 7,800) M. Green, Capital, December 31, 2019 $ 77,200 Mc Graw Hill Education G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work Requirement General General Journal Ledger Trial Balance Income St Owners Equity Balance Sheet Impact on Statement Income 25 Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted points balances will appear for each account, based on your selection. Include all balance sheet accounts, even those with zero balances. Show less eBook Unadjusted GREEN INITIATIVES Balance Sheet Print December 31, 2019 n ASSETS References Current assets: $ o O o o o Plant assets: 0 O Total plant assets Mc Graw Education G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work o O Plant assets: 25 points 0 eBook O Total plant assets Print n References LIABILITIES AND EQUITY Liabilities: $ o o o Equity: Mc Graw Hill Education G newconnect.mheducation.com C C Comprehensive Problem Get Homework Help With Chegg Study | Chegg.com Green Initiatives Began Operations On October 1, 2... | Chegg.com Comprehensive Problem i Saved Help Save & Exit Submit Check my work Requirement General General Trial Balance Income St Owners Journal Ledger Equity Balance Sheet Impact on Statement Income 25 For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. points If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.) Show less A eBook Unadjusted Account affecting the: Impact on net Print Adjusting entry related to: Income Statement Balance Sheet income a) Computer supplies n b) Prepaid insurance References c) Accrued wages d) Depreciation - Computer equipment e) Depreciation - Office equipment f) Prepaid rent Balance Sheet Impact on Income Mc Graw Hill Education