12 15 ler Delivery Service completed the following transactions during December 2016 Dec 1 Miller Delivery Service began operations by receiving $10,000 cash and a truck with a fair value of $20,000 from Robert Miler. The business issued Mlier Shares of common stock in exchange for this contribution Paid $1,000 cash for a four-month insurance policy. The policy begins December 1 Paid 5500 cash for office supplies Performed delivery services for a customer and received $2,000 cash Completed a large delivery job, billed the customer, $2.500, and received a promise to collect the $2.500 within one week. 18 Paid employee salary. 51.000 20 Received $15.000 cash for performing delivery services. 22 Collected $800 in advance for delivery service to be performed later. 25 Collected $2,500 cash from customer on account 27 Purchased fuel for the truck, paying $300 on account. (Credit Accounts Payable) 28 Performed delivery services on account, 5700 29 Paid office rent, $1,600, for the month of December 30 Paid $300 on account. 31 Cash dividends of $3,000 were paid to stockholders. Requirements 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Accumulated Depreciation-Truck Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Income Summary Service Revenue Salaries Expense Depreciation Expense-Truck Insurance Expense Fuel Expense Rent Expense 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. (optional) 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. wy Gae Page 3 Requirement Requirement 7 MILLER DELIVERY SERVICE WORKSHEET December 31, 2016 Requirements Require A 6 Adjusted Trial Balance Debit Credit Account Names Unadjusted Trial Balance Debit Credit 12.900 700 500 1000 20 DO Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Accumulated Deprecation - Truck Accounts Payable Salaries Payable Unearned Revenue Common Stock Dividends Service Revenue Salaries Expense Depreciation Expense - Truck Insurance Expense Fuel Expense Rent Expense Supplies Expense 80A 120 000 300 1600 51,000 51.000 Subtotally Total Total 1/17/2020 J. M. Eng NAME Requirem Journal for Adjusting Entries Account Titles and Explanat Requiremt 7 For Income Statement Requiremt 7 Requiremt 7 For Statement of Retained Earnings For Statement of Retained Page 5 Name: Requiremnant 7 - Classified Balance Sheet apter 4 Page 6 Requirements Credit Closing Entries Account Titles and Explanata WT Requiremt 9 Post-Closing Trial Balance