20 AB C D E Instructions For each transactions "a" through "" below Alginet Number Styles M N OPO TUV W x Y ZM All . 1) First, record the necessary journal entry (utilize the "Chart of Accounts" below) D 1 2 2) After recording each entry, post the effects of the Journal Entry to the appropriate 1-accounts 3) On the second tab of this document, create your lanuary 31, 2020 financial statements. Note that the Trial Balance accounts and balances are already provided with the balances on the trial balance (on the 2nd tab) being linked to the ending balance of each Taccount (on the 1st tab). 3 4 Chart of Accounts 5 Cash 6 Accounts Receivable 7 Supplies Prepaid Rent 9 Vehicles 0 Accounts Payable Reference Date Transactions-January 20201 1 Deferred Revenue 1-lan Paid cash of $4,200 for 12 months of rent, beginning January 1st. 22 Wages Payable b) 3-lan 23 Notes Payable 4 4-Jan 24 Common Stock 5-Jan 25 Retained Earnings 6-Jan 26 Sales Revenue 9 9-lan Signed a note payable with a local bank for $10,000. Payment of the $30,000 is due to the bank on December 31, 2021. Purchased a company vehicle for $15,000 cash sued (sold) 56,000 of stock to a new shareholder.. Purchased $1,000 of supplies on account. Provided services for customers on account worth 510,400. 27 Service Revenue a 13-Jan A customer paid cash of $3,500 for services that will be provided in February 2020 28 Insurance Expense M 25-lan 29 Rent Expense " 31-lan 20 Supplies Expense 31-Jan 31 Wage Expense NO 31-Jan Collected the $10,400 of cash from the customer for the services we provided on lanuary 9th Employees earned a wages of 54,500 during the month of lanuary. Wages will be paid on February 5th Record the necessary month-end adjusting entry related to the rent paid on January 1st. As of lanuary 31st, the company has 5300 of supplies remaining, the rest was used up during lanuary. 32 D Journal Entries . " Date Account Description Debt Credit 513m ASSETS AO Ledger Accounts (T-Accounts) Balance Sheet Accounts LIABILITIES Cash Accounts Payable CHELDERS EQ Credit Income Statement Accounts REVENUE Debel Credit Sales Breue EXPENSES Debel Crede insurance Logenes iccnets Flecrivate Deferred Revere Service Rever Plent Expens 600 Supplies Sipples Expense Prepaid Rent Notes Wage Expense Beg Rd Debit Credit Balance Check Vehicles Trial Balance January 31, 2020 Income Statement For the Month Ended January 31, 2020 Debit Credit Revenue Cash 10,900 800 Supplies 400 5 27 B Accounts Receivable Prepaid Rent Vehicles Accounts Payable Deferred Revenue Wages Payable Expenses 500 9 Notes Payable 4 Total Expenses Common Stock 11,000 1 Retained Earnings 600 2 Sales Revenue Net Income/(Loss) B 4 Service Revenue Insurance Expense es 26 27 Rent Expense Supplies Expense Wage Expense 28 Totals 12,100 12,100 29 Statement of Stockholders' Equity For the Month Ended January 31, 2020 Retained Earnings January 1, 2020 5 600 5 Common Stock 11,000 January Activity January 31, 2020 Assets Balance Sheet As of January 31, 2020 Current Assets: Total Current Assets Non-Current Assets: Total Non-Current Assets Total Assets Liabilities & Stockholders' Equity Current Liabilities: Total Current Liabilities Non-Current Liabilities: Total Non-Current Liabilities Total Liabilities Stockholders' Equity Total Liabilities & Equity