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3 On January 1, 2020, Indiana Jones created a new moving company called Raiders Moving Co. His sons worked for him as drivers for the
3 On January 1, 2020, Indiana Jones created a new moving company called Raiders Moving Co. His sons worked for him as drivers for the company. These activities occurred during the company's first month: Jan. 1 Indiana Jones created the new company by investing $100,000 cash, a truck worth $200,000, and moving equipment worth $400,000. The company purchased $7,000 of office supplies for cash. The company prepaid $11,000 for the premium on a one-year insurance policy for the truck. 24 The company was paid $78,000 for moving services for the month. The company paid its drivers a total of $16,500 for a month of salary. The company had its truck repaired for $3,500 on credit The owner withdrew $14,000 cash from the business for personal 10 28 30 30 use. Required: 1. Prepare journal entries using the accounts provided in the general ledger. Ensure that journal entries are in proper format (10 marks) 2. Post the journal entries to the accounts in the general ledger (10 marks). 3. Prepare the unadjusted trial balance (8 marks) 4. Prepare the income statement, statement of changes in equity, and balance sheet (15 marks) Please answer all questions on the forms provided below. C 7 A P1SC Impe Insert In FO F12 Delen SADOR . $ ? % 5 + 4 C 6 & 7 ( 9 8 2 3 1/4 1/2 314
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