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can you please answer number 4 under requirments thanks Comprehensive Problem 1 for Chapters 1-4 Delivery Service completed the following transactions du December 2016 Magness
can you please answer number 4 under requirments thanks
Comprehensive Problem 1 for Chapters 1-4 Delivery Service completed the following transactions du December 2016 Magness Magness Delivery Service began operations by receiving $10,000 cash and a truck with a fair value of $20,000 from Robert Magness. The business gave Magness capital in exchange for this contribution 1 Paid $1.ooo cash for a four-month insurance policy The policy begins December 1 4 Paid $500 cash for office supplies Performed delivery services for a customer and received $2,000 cash 15 Completed a large delivery job, billed the customer, $2,500, and received a promise to collect the $2,500 within one week 18 Paid employee salary, $1,000 Received $15,000 cash for performing delivery services 22 Collected $800 in advance for delivery service to be performed later. 25 Collected $2,500 cash from customer on accoun purchased fuel for the truck, paying s 300 on account Credit Accounts payable 28 Performed delivery services on account, S700 Paid office rent, $1,600, for the month of December 29 30 Paid $300 on account. 3 Magness withdrew cash of $3,000 Rear nents ioving chart of accounts each transaction in the journal using the I. Rec rd nations are not required. Magness. Withdrawals Cash Income Summary Accounts Receivable Service Revenue Office Supplies Salaries Expense Prepaid Insurance Depreciation Expense-Truck Truck Accumulated Depreciation-Truck Insurance Expense Fuel Expense Accounts payable Rent Expense Salaries Payable Supplies Expense Unearned Revenue Magness, Capital 2. Post the transactions in the T-accounts 3. Prepare an unadjusted trial balance as of December 31, 2016 4. Prepare a worksheet as of December 31, 2016. (optional) 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accountsStep by Step Solution
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