Accounting Creations was authorized to issue 3 000 060 shares of si par Common Stock but has only issued 650 000 shares of common stock as of 12131 /2018 . No new shares were issued during 2018 1 . On the Adjusting Journal Entries " worksheet prepare in journal entry form all adjusting and correcting journal entries based on the following information . All information was provided to you as of 12/31/2018 . ( Round all numbers to the nearest dollar ) . Label journal entries a through Based on your review of the cash balances , you note that there was an overdraft . of $12 000 in one of your bank accounts . However , there are many bank accounts at the specific bank where the account with the overdraft is deposited The total cash at this bank equaled a debit balance of $180 090 . The previous accountant moved the overdraft to Accounts Payable . You also note the Board of Directors has restricted $65 000 of cash for future expansion . This $65 000 is part of the cash balance . The future expansion will not occur for several more years