1	Journalize the routine transactions above on the Journal-December tab.
2	Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries).
3	Use the Adjusted Trial Balance provided to prepare financial statments for ABC Corporation. You are only responsible for preparing the Income Statement, Statement of Retained Earnings, and classified Balance Sheet. These should be completed on the Financial Statements tab.

O PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X D13 X fx D E F G H | J K 0 000 B 4 5 Dec 1 Issued 25,000 shares of $1 par common stock for cash of $20 per share. 6 ABC Company pays cash for Land and a building to be used in operations. 7 Dec 3 The land cost $50,000 and the building cost $150,000. 8 9 Dec 4 Purchased $10,000 of store fixtures on account. 10 Purchased merchandise inventory from XYZ Company for $125,000, terms 11 Dec 5 n/eom, FOB destination. 12 ABC sold $50,000 of merchandise on account, 2/10, n/30, FOB shipping 13 Dec 6 point. The cost of merchandise sold was $20,000. 14 15 Dec 9 Paid adverting costs of $15,000 to promote new business. 16 Purchased merchandise inventory from QRS Company for $100,000, 17 Dec 10 terms n/30, FOB destination. 18 19 Dec 11 Purchased 500 shares of treasury stock for $15 per share. 20 21 Dec 12 ABC's Board of Directors declared a $30,000 cash dividend. 22 23 Dec 13 Paid $300 for utilities. 24 25 Dec 15 Paid cash dividends to common shareholders. 26 Directions Chart of Accounts Journal-December Unadjusted Trial Balance Adjusted Trial Balance Ready Type here to search i Financial Stat 14098 O 50F Sunny 2:00 PM 12/12/2021 File Home Insert Page Layout Formulas Data Review View Help Comments Share PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing x D13 IX fx D E F F G H J K A B 27 Dec 16 Received payment for merchandise sold on Dec. 6th. 28 ABC sold $75,000 of merchandise on account, 2/10, n/30, FOB shipping 29 Dec 23 point. The cost of merchandise sold was $35,000. 30 31 Dec 24 Sold 300 shares of treasury stock for $20 per share. 32 33 Dec 31 Paid balance owed to XYZ Company for purchases on Dec 5. 34 35 At the end of December, the following adjustment data were assembled. 36 After a physical count of inventory, it was determined that $169,500 of 37 a inventory exists at December 31. 38 Based on an analysis of A/R, ABC Company anticipates 3% of A/R to be 39 b uncollectible. 40 Buildings are depreciated using the straight line method with no salvage value for 30 years. Round to the nearest dollar. 42 Store Fixtures are depreciated using the straight-line method with no 43 d salvage value for 5 years. Round to the nearest dollar. 44 41 C 45 Directions: 46 17 1 Tournalize the routine transactions above on the lournal.December tab Directions Chart of Accounts Journal-December Unadjusted Trial Balance Adjusted Trial Balance Financial Stati ... + Ready 1409 Type here to search 15 - 50F Sunny