Sam Gerber opened a factory warehouse called F.W.SG on August 1, 2012. During August, the following...

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Sam Gerber opened a factory warehouse called F.W.SG on August 1, 2012. During August, the following transactions were completed. Aug1. Issued 10,000 shares of common stock for $30,000 cash. 1 Purchased used truck for $10,000, paying $5,000 cash and the balance on account. Purchased store supplies for $2,500 on account. 3 5 Paid $2,700 cash on a 6-month insurance policy effective August 14 18 20 21 28 Billed vendors $3,800 for delivering good services. Paid $1,700 cash on amount owed on truck and $1000 on amount owed on store supplies. Paid $1,950 cash for employee salaries. Collected $1,800 cash from vendors billed on August 14. Billed customers $5,200 for delivering services. Paid $350 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $900 cash dividend. The chart of accounts for Sam Gerber contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Bevenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense. Instructions (a) Journalize the August transactions. (b) Post to the ledger accounts. (Use T accounts.) (c) Prepare a trial balance at August 31. 31 31 (d) Journalize the following adjustments. 1. Earned but unbilled revenue at August 31 was $200. 2. Depreciation on equipment for the month was $250. 3. One-sixth of the insurance expired. 4. An inventory count shows $280 of store supplies on hand at August 31. 5. Accrued but unpaid employee salaries were $1,080. (e) Post adjusting entries to the T accounts. (f) Prepare an adjusted trial balance. (9) Prepare the income statement and a retained earnings statement for August and a classified balance sheet at August 31. (h) Journalize and post-closing entries and complete the closing process. (i) Prepare a post-closing trial balance at August 31. p Sam Gerber opened a factory warehouse called F.W.SG on August 1, 2012. During August, the following transactions were completed. Aug1. Issued 10,000 shares of common stock for $30,000 cash. 1 Purchased used truck for $10,000, paying $5,000 cash and the balance on account. Purchased store supplies for $2,500 on account. 3 5 Paid $2,700 cash on a 6-month insurance policy effective August 14 18 20 21 28 Billed vendors $3,800 for delivering good services. Paid $1,700 cash on amount owed on truck and $1000 on amount owed on store supplies. Paid $1,950 cash for employee salaries. Collected $1,800 cash from vendors billed on August 14. Billed customers $5,200 for delivering services. Paid $350 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $900 cash dividend. The chart of accounts for Sam Gerber contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Bevenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense. Instructions (a) Journalize the August transactions. (b) Post to the ledger accounts. (Use T accounts.) (c) Prepare a trial balance at August 31. 31 31 (d) Journalize the following adjustments. 1. Earned but unbilled revenue at August 31 was $200. 2. Depreciation on equipment for the month was $250. 3. One-sixth of the insurance expired. 4. An inventory count shows $280 of store supplies on hand at August 31. 5. Accrued but unpaid employee salaries were $1,080. (e) Post adjusting entries to the T accounts. (f) Prepare an adjusted trial balance. (9) Prepare the income statement and a retained earnings statement for August and a classified balance sheet at August 31. (h) Journalize and post-closing entries and complete the closing process. (i) Prepare a post-closing trial balance at August 31. p