5 Required: 6 Part A Prepare journal entries to record the December transactions shown on page "Transactions Pt. A". General ledger account numbers and descriptions are not needed. 7 8 Post the entries to general ledger T-accounts. 10 11 12 Prepare all necessary adjusting entries based on the information shown on the printed "Adj. Entries Pt. B" page. General ledger account numbers and descriptions are not 13 14 15 necessary. 16 Post the entries to general ledger T-accounts and calculate balances. 17 18 N G E C A Amount 2019 Transactions 2,000 December Issued common stock for cash Paid cash for three month's rent: December 2019, January and February 2020 Purchased a used truck on credit (recorded as an account payable) Purchased supplies on credit. These are expected to be used during the month (recorded as exper Paid for a one-year truck insurance policy, effective December 1 Billed a customer for work completed to date Collected cash for work completed to date Paid the following expenses in cash: Advertising 2,400 a. 13,000 h 1,600 2,280 C. d. 6,000 e. 4,000 f. 700 h. 700 Interest 800 Telephone Truck operating 600 5,000 Wages Collected part of the amount billed inf above 1,000 i. 7,000 Billed customers for work completed to date Signed a contract for work to be performed in January 2020 Paid the following expenses in cash: Advertising 5,000 k. 600 20 600 Interest 21 900 Truck operating 22 2,000 Wages Collected an advance on work to be done in January (the policy of the coproration is to record such advances as revenue at the the time they are received) Received a bill for electricity used during the month (recorded as utilities expense) 23 24 m. 2,000 25 800 26 . 27 28 29 Jnl. Entries Required Transactions Pt. A Adj. Entries Pt. B T-accounts Adj. Trial Bal Calculate K G F E C B A 2019 Amount Adjusting Entries 2 December One month of the prepaid insurance has expired. The December portion of the rent paid on December 1 has expired. Counted supplies and found this amount still on hand (recorded the amount used as an O. 4 $100 p. expense) 5 q. $2,000 The amount collected in transaction m is unearned at December 31 6 r. Three days of wages for December 29, 30, and 31 are unpaid. These will be paid in January. One month of depreciation needs to be recorded. Estimated useful life of truck in years is: 7 S. $2,900 9 $100 Income taxes expense to be paid in the next fiscal year. U. 10 11 12 13 14 15 16 17 Inl. Entries Copyright Required Adj. Entries Pt. B T-accounts Adi. Trial Bal Transactions PL A Statements Display Settings Caloulate Roth Contractors Corporation Cash Accounts Payable Repair Revenue Rent Expense Supplies Expense Apcounts Receivables Wages Payable Advertising Expense Telephone Expense Unearned Repar Revenues Prepaid Insurance Income Taxes Payable Depreciation Exp.-Truck Truck Operating Expense Prepaid Rent Common Stock Insurance Expense Utiities Expense Unused Supplies 5 Interest Expense Wages Expense Truck 7 8 Acc. Depn- Truck Income Taxes Expense 33 Required Transactions Pt. A Adj. Entries Pt. B Adj. Trial Bal, T-accounts Jnl. Entries Statements fx A1 Roth Contractors Corporation E A L D G Roth Contractors Corporation GENERAL JOURNAL 2 Dec. Description Debit Credit 4 2019 6 7 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Adj. Trial Bal. Statements Jnl. Entries Adj. Entries Pt. B T-accounts Required Transactions Pt. A Calculate m No o N