Check my work The November 30, 2018, unadjusted trial balance of Stream Launch is found in the Trial balance tab. Stream Launch had the following transactions and events in December 2018 Dec. 2 Paid $1,120 cash to Delray Mall for Strean Launch share of mall advertising costs. Dec. 3 Paid $560 cash for minor repairs to the company's computer. Dec. 4 Received $5,300 cash from Ryan Engineering Co. for the receivable from November. Dec. 10 Paid cash to Jim Egert for six days of work at the rate of $180 per day. Dec. 14 Notified by Ryan Engineering Co. that Stream Launch bid of $7,300 on a proponed project has been accepted. Ryan paid a $1,650 cash advance to Stream Launch. Dec. 15 Purchased $1,250 of computer supplies on credit from Jackson Office Products. Dec. 16 Sent a reminder to Byrnes Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for Kuhl Corporation and received $5,900 cash. Dec. 22- Took the week oft for the holidays. 26 Dec. 28 Received $3,600 cash from Byrnes Co. on its receivable. Dec. 29 Reimbursed A. Egert for business automobile mileage (750 miles at $0.32 per mile). Dec. 31 The company paid $1,600 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: a. The December 31 inventory count of computer supplies shows $700 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. C. As of December 31, Jim Egert has not been paid for four days of work at $180 per day d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value, f. Three of the four months' prepaid rent has expired. Balance Sheet Income Statement Impact on Income General Journal St Retained Earnings General Ledger Trial Balance Requirement General Journal tab - Prepare journal entries for each of the December transactions. Then, using the information given for adjustments, prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances. Trial Balance tab - You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. Income Statement tab - Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection. Statement of Retained Earnings tab - The unadjusted or adjusted balances will appear for each account, based on your selection. Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Impact on Income tab - For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net Income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the dropdown.) Journal entry worksheet
