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A dog training business began on December 1 . The following transactions occurred during its first month. December 1 Receives $ 2 2 , 0
A dog training business began on December The following transactions occurred during its first month. December Receives $ cash as an owner investment in exchange for common stock. December Pays $ cash for equipment. December Pays $ cash insurance premium for a month insurance policy. Coverage began on December December Pays $ cash for December rent expense. December Provides allday training services for a large group and immediately collects $ cash. December Pays $ cash in wages for parttime help. December Provides training services for $ and rents training equipment for $ The customer is billed $ for these services. December Receives $ cash from the customer billed on Dec. December Purchases $ of supplies on credit from a supplier. December Receives $ cash in advance of providing a week training service to a customer. December Pays $ cash as a partial payment toward the accounts payable of Dec. December Distributed a $ cash dividend to the owner. Information for monthend adjustments follows: December One month of the month, $ insurance policy is expired by December This leaves $ not yet expired. December A physical count of supplies on December shows that only $ of supplies remain of the $ supplies purchased. December The $ of equipment purchased at the beginning of December has a useful life of years and will be worth nothing at the end of years months The business uses straightline depreciation to allocate the $ net cost over months. On December month of depreciation must be recorded. December The business agreed on December to provide a week training service to a customer for a fixed fee of $ paid in advance. By December the business has provided of the weeks of services and earned onefourth of the fee. No revenue is yet recorded. December On December wages of $ are owed to a parttime employee for work done over the past weeks. Those wages are not yet paid or recorded. December The business agreed to provide weeks of training services to a customer for a fee of $ or $ per week. The customer agrees to pay the full $ at the end of weeks when services are complete. By December weeks of services have been provided, but the business has not yet billed the customer or recorded the weeks of services provided. General Journal tab Prepare journal entries for the first month of operations. Prepare any necessary adjusting and closing entries for the current month. General Ledger tab Each journal entry is posted automatically to the general ledger. Use the dropdown button to view the unadjusted, adjusted, or postclosing balances. Trial Balance tab You may view the unadjusted, adjusted, or postclosing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs Income Statement tab Use the dropdowns to select the accounts properly included on the income statement. The unadjusted, adjusted or postclosing balances will appear for each account, based on your selection. Statement of Retained Earnings tab The unadjusted, adjusted or postclosing balances will appear for each account, based on your selection. Balance Sheet tab Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted, adjusted or postclosing balances will appear for each account, based on your selection. PostClosing tab Use the dropdowns to indicate whether each account is included on the postclosing trial balance.PlePl
A dog training business began on December The following transactions occurred during its first month.
December Receives $ cash as an owner investment in exchange for common stock.
December Pays $ cash for equipment.
December Pays $ cash insurance premium for a month insurance policy. Coverage began on December
December Pays $ cash for December rent expense.
December Provides allday training services for a large group and immediately collects $ cash.
December Pays $ cash in wages for parttime help.
December Provides training services for $ and rents training equipment for $ The customer is billed $ for these
services.
December Receives $ cash from the customer billed on Dec.
December Purchases $ of supplies on credit from a supplier.
December Receives $ cash in advance of providing a week training service to a customer.
December Pays $ cash as a partial payment toward the accounts payable of Dec.
December Distributed a $ cash dividend to the owner.
Information for monthend adjustments follows:
December One month of the month, $ insurance policy is expired by December This leaves $ not yet expired.
December A physical count of supplies on December shows that only $ of supplies remain of the $ supplies purchased.
December The $ of equipment purchased at the beginning of December has a useful life of years and will be worth nothing
at the end of years months The business uses straightline depreciation to allocate the $ net cost over
months. On December month of depreciation must be recorded.
December The business agreed on December to provide a week training service to a customer for a fixed fee of $ paid in
advance. By December the business has provided of the weeks of services and earned onefourth of the fee. No
revenue is yet recorded.
December On December wages of $ are owed to a parttime employee for work done over the past weeks. Those wages are not
yet paid or recorded.
December The business agreed to provide weeks of training services to a customer for a fee of $ or $ per week. The
customer agrees to pay the full $ at the end of weeks when services are complete. By December weeks of
services have been provided, but the business has not yet billed the customer or recorded the weeks of services
provided.
General Journal tab Prepare journal entries for the first month of operations. Prepare any necessary adjusting and
closing entries for the current month.
General Ledger tab Each journal entry is posted automatically to the general ledger. Use the dropdown button to view
the unadjusted, adjusted, or postclosing balances.
Trial Balance tab You may view the unadjusted, adjusted, or postclosing trial balances by choosing from the dropdown
box below. Your choice will determine the reported values on the financial statement tabs
Income Statement tab Use the dropdowns to select the accounts properly included on the income statement.
The unadjusted, adjusted or postclosing balances will appear for each account, based on your selection.
Statement of Retained Earnings tab The unadjusted, adjusted or postclosing balances will appear for each account,
based on your selection.
Balance Sheet tab Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted,
adjusted or postclosing balances will appear for each account, based on your selection.
PostClosing tab Use the dropdowns to indicate whether each account is included on the postclosing trial balance.PlePl
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