Question: I need the journal entries for these transactions please. Do not need account numbers or descriptions. BRoth Contractors Corporation was incorporated on December 1, 2019.

I need the journal entries for these transactions please. Do not need account numbers or descriptions.

I need the journal entries for these transactions please. Do not need

account numbers or descriptions. BRoth Contractors Corporation was incorporated on December 1,

2019. 4 5 Required: 6 Part A 7 1 Prepare journal entries

BRoth Contractors Corporation was incorporated on December 1, 2019. 4 5 Required: 6 Part A 7 1 Prepare journal entries to record the December transactions shown on page "Transactions Pt. A". General ledger account numbers and descriptions 8 are not needed. 2 Post the entries to general ledger T-accounts. 10 44 A B C E G K C 2019 2 December Transactions Amount Issued common stock for cash a. 2,000 b. Paid cash for three month's rent: December 2019, January and February 2020 Purchased a used truck on credit (recorded as an account payable) Purchased supplies on credit. These are expected to be used during the month (recorded Paid for a one-year truck insurance policy, effective December 1 Billed a customer for work completed to date Collected cash for work completed to date Paid the following expenses in cash: 2,400 c. 13,000 d. as exper 1,600 7 e. 2,280 f. 8 6,000 4,000 g. 10 h. 11 Advertising 700 12 Interest 700 13 Telephone Truck operating 800 14 600 15 Wages 5,000 16 i. Collected part of the amount billed in f above 1,000 Billed customers for work completed to date Signed a contract for work to be performed in January 2020 Paid the following expenses in cash: Advertising 17 7,000 k 18 5,000 19 20 600 21 Interest 600 22 Truck operating 900 23 Wages 2,000 24 Collected an advance on work to be done in January (the policy of the coproration is to record m. 25 such advances as revenue at the the time they are received) 2,000 26 Received a bill for electricity used during the month (recorded as utilities expense) n. 800 27 28 29 Required Transactions Pt. A Adj. Entries Pt. B T-accounts Jnl. Entries Adj. Trial Bal. A B C E G K L N O 2019 1 2 December Adjusting Entries Amount One month of the prepaid insurance has expired. The December portion of the rent paid on December 1 has expired. Counted supplies and found this amount still on hand (recorded the amount used as an expense) p $100 The amount collected in transaction m is unearned at December 31. 6 r. $2,000 Three days of wages for December 29, 30, and 31 are unpaid. These will be paid in January. 7 S. 8 $2,900 t. One month of depreciation needs to be recorded. Estimated useful life of truck in years is: 9 3 Income taxes expense to be paid in the next fiscal year. 10 u $100 11 12 13

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!