Can I get help with Journal entry (G).

G H GENERAL JOURNAL Page 6 Date Accounts Debit Credit Worksheet(c) Worksheet(d) Worksheet(e) Worksheet(f) Worksheet(g) ct destination and press ENTER or choose Paste On January 1, 20X7, Jacqueline Fernandez formed a corporation to purchase wheat harvesting equipment and provide contract support services to farmers throughout the Midwest Information about the first year of operation follows Jan. 1 Investors provided $2,500,000 of cash in exchange for stock of Fernandez Cornnratinn Purchased combines and trucks in exchange for $1,000,000 cash and a $3,000,000 note payable Jan. 1 Feb. 7 Purchased $40,000 of supplies on account that will be needed during the upcoming harvest Mar. 3 Apr. 1 Apr. 11 May 1 June 6 June 9 June 15 June 20 June 30 Aug. 1 Paid wages of $65,400 Billed customers for services in the amount of $230,000 Paid $30,000 toward the purchase of February 7 Purchased a $24,000 insurance policy, recorded as prepaid insurance Collected $210,000 on accounts receivable Paid wages of $130,600 Paid $30,200 for fuel costs Paid $12,500 for lodging costs incurred by crew Paid $120,000 of interest and $80,000 to reduce the balance of the note Billed customers for services provided in the amount of $812,000 12 Problem Worksheet(a)Worksheet(b)Worksheet(c) Worksheet(d) Ready June 30 Aug. 1 Sept. 3 Sept. 16 Sept. 25 Oct. 20 Nov. 3 Dec. 15 Dec. 31 Paid $120,000 of interest and $80,000 to reduce the balance of the note Billed customers for services provided in the amount of $812,000 Collected $715,000 on accounts receivable Purchased $25,000 of supplies on account Paid $61,200 for fuel costs Paid $8,100 for lodging costs incurred by crew Paid wages of $125,900 Collected $100,000 as deposits from customers who contracted for 20X8 harvesting services Declared and paid a $25,000 dividend to shareholders Fernandez Corporation uses the following accounts Cash Accounts Supplies Prepaid 5 Supplies 7 Prepaid Equipment Accumulated Accounts Interest Unearned Notes Capital Retained Dividends Revenues Wage Fuel Lodging Insurance Supplies Interest epreciation 5 Income (a) Journalize the listed transactions (b) Post the transactions to the appropriate general ledger accounts (c) Prepare a trial balance as of December 31 (d) Journalize and post adjusting entries based on the following additional information Problem Worksheet(a)Worksheet(b)Worksheet(c) Worksheet 2 Supplies 3 Interest Depreciation 5 Income (a) Journalize the listed transactions (b) Post the transactions to the appropriate general ledger accounts 9 (c) Prepare a trial balance as of December 31 (d) Journalize and post adjusting entries based on the following additional information 0 The equipment had 25-year life, with no salvage value Supplies on hand at year end amount to $20,000 At year end, $115,000 of additional interest is due on the note payable The insurance policy covered a 12-month period commencing on May 1 At year end, Fernandez had provided $30,000 of unbilled services to customers. These services will be billed in early 20X8 2 3 4 5 6 e) Prepare an adjusted trial balance as of December 31 (f) Prepare an income statement and statement of retained earnings for 20X7, and a classified balance sheet as of the end of the year 7 (g) Journaie and post closing entries 9 (h) Prepare a post-closing trial balance as of December 31 Problem Worksheet(a)Worksheet(b)Worksheet(c) Worksheet(d) eady G H GENERAL JOURNAL Page 6 Date Accounts Debit Credit Worksheet(c) Worksheet(d) Worksheet(e) Worksheet(f) Worksheet(g) ct destination and press ENTER or choose Paste On January 1, 20X7, Jacqueline Fernandez formed a corporation to purchase wheat harvesting equipment and provide contract support services to farmers throughout the Midwest Information about the first year of operation follows Jan. 1 Investors provided $2,500,000 of cash in exchange for stock of Fernandez Cornnratinn Purchased combines and trucks in exchange for $1,000,000 cash and a $3,000,000 note payable Jan. 1 Feb. 7 Purchased $40,000 of supplies on account that will be needed during the upcoming harvest Mar. 3 Apr. 1 Apr. 11 May 1 June 6 June 9 June 15 June 20 June 30 Aug. 1 Paid wages of $65,400 Billed customers for services in the amount of $230,000 Paid $30,000 toward the purchase of February 7 Purchased a $24,000 insurance policy, recorded as prepaid insurance Collected $210,000 on accounts receivable Paid wages of $130,600 Paid $30,200 for fuel costs Paid $12,500 for lodging costs incurred by crew Paid $120,000 of interest and $80,000 to reduce the balance of the note Billed customers for services provided in the amount of $812,000 12 Problem Worksheet(a)Worksheet(b)Worksheet(c) Worksheet(d) Ready June 30 Aug. 1 Sept. 3 Sept. 16 Sept. 25 Oct. 20 Nov. 3 Dec. 15 Dec. 31 Paid $120,000 of interest and $80,000 to reduce the balance of the note Billed customers for services provided in the amount of $812,000 Collected $715,000 on accounts receivable Purchased $25,000 of supplies on account Paid $61,200 for fuel costs Paid $8,100 for lodging costs incurred by crew Paid wages of $125,900 Collected $100,000 as deposits from customers who contracted for 20X8 harvesting services Declared and paid a $25,000 dividend to shareholders Fernandez Corporation uses the following accounts Cash Accounts Supplies Prepaid 5 Supplies 7 Prepaid Equipment Accumulated Accounts Interest Unearned Notes Capital Retained Dividends Revenues Wage Fuel Lodging Insurance Supplies Interest epreciation 5 Income (a) Journalize the listed transactions (b) Post the transactions to the appropriate general ledger accounts (c) Prepare a trial balance as of December 31 (d) Journalize and post adjusting entries based on the following additional information Problem Worksheet(a)Worksheet(b)Worksheet(c) Worksheet 2 Supplies 3 Interest Depreciation 5 Income (a) Journalize the listed transactions (b) Post the transactions to the appropriate general ledger accounts 9 (c) Prepare a trial balance as of December 31 (d) Journalize and post adjusting entries based on the following additional information 0 The equipment had 25-year life, with no salvage value Supplies on hand at year end amount to $20,000 At year end, $115,000 of additional interest is due on the note payable The insurance policy covered a 12-month period commencing on May 1 At year end, Fernandez had provided $30,000 of unbilled services to customers. These services will be billed in early 20X8 2 3 4 5 6 e) Prepare an adjusted trial balance as of December 31 (f) Prepare an income statement and statement of retained earnings for 20X7, and a classified balance sheet as of the end of the year 7 (g) Journaie and post closing entries 9 (h) Prepare a post-closing trial balance as of December 31 Problem Worksheet(a)Worksheet(b)Worksheet(c) Worksheet(d) eady