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a. Set up a general ledger with the following accounts: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Trucks; Accumulated Depreciation-Trucks; Equipment; Accumulated Depreciation-Equipment; Accounts Payable; Unearned
a. Set up a general ledger with the following accounts: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Trucks; Accumulated Depreciation-Trucks; Equipment; Accumulated Depreciation-Equipment; Accounts Payable;
Unearned Roofing Fees; Common Stock; Roofing Fees Earned; Fuel Expense; Advertising Expense; Wages Expense; Insurance Expense; Supplies Expense; Depreciation Expense-Trucks; and Depreciation Expense-Equipment.
- Record these transactions in the general journal and post to the ledger accounts.
- Prepare an unadjusted trial balance as of April 30
- Prepare the journal entries to adjust the books for insurance expense, supplies expense, depreciation expense on the truck, depreciation expense on the equipment, and roofing fees earned. Supplies on hand on April 30 amounted to $950. Depreiation for April was $155 on the truck and $35 on the equipment. One-fourth of the roofing fee received in advance was earned by April 30. Post the adjusting entries.
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