1-Dec Began business by depositing $8500 in a bank account in the name of the company in exchange for 850 shares of $10 per share common stock.

1-Dec Paid the rent for the current month, $750 .

1-Dec Paid the premium on a one-year insurance policy, $1080 .

1-Dec Purchased Equipment for $4800 cash.

5-Dec Purchased office supplies from XYZ Company on account, $300 .

15-Dec Provided services to customers for $6400 cash. 16-Dec Provided service to customers ABC Inc. on account, $4000 .

21-Dec Received $2000 cash from ABC Inc., customer on account.

23-Dec Paid $170 to XYZ company for supplies purchased on account on December 5 .

28-Dec Paid wages for the period December 1 through December 28, $4480 . 30-Dec Declared and paid dividend to stockholders $200 .

#5.

Record the following four transactions as adjusting entries under the General Journal tab.

31-Dec

One months insurance has been used by the company $90.

31-Dec

The remaining inventory of unused office supplies is $90.

31-Dec

The estimated depreciation on equipment is $80.

31-Dec

Wages incurred from December 29 to December 31 but not yet paid or recorded total $480.

#6.

Post all of the adjusting entries to the T-accounts under the T-Accounts tab. Compute the balance for each T-account after all of the adjusting entries have been posted. These are the adjusted balance as of December 31.

#7.

Prepare the adjusted trial balance under the Adjusted Trial Balance tab as of December 31 in the excel template file "Accounting Cycle Excel Template.xlsx" .

Provide the following accounts balances from the Adjusted Trial Balance:

Cash

Accounts Receivable

Supplies

Prepaid Insurance

Equipment

Accumulated Depreciation

Accounts Payable

Wages Payable

Common Stock

Retained Earnings