Comprehensive Problem $1$ for Chapters $1-4$:

Miller Delivery Service completed the following transactions during December $2023$:

Dec $1$ Mille Delivery Service began operations by receiving $$10,000$ cash and a truck with a fair value of $$20,000$ from Robert Miler. The business issued Miller shares of common stock in exchange for this contribution.

$1$ Paid $$1,000$ cash for a fourmonth insurance policy. The policy begins December $1.$

$4$ Paid $$500$ cash for office supplies.

$12$ Pertormed delivery semices 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.$

$20$ Received $$15,000$ cash for performing delivery services.

$22$ Collected $$800$ in advance for delivery senvice to be performed later.

$25$ Collected $$2,500$ cash from customer on account.

$27$ Purchased fuel for the truck, paying $$300$ on account. $($Credit Accounts Payable$)$

$28$ Performed delivery services on account, $$700.$

$29$ Paid offing rent, $$1,600,$ for the month of December.

$30$ Paid $$\frac{30}{?}$ account.

$31$ Cash dvidends of $$3,000$ were paid to stockholders.

Requirements

Record each transaction in the journal using the following chart of accounts. Explanations are not required.

$\backslash$table$[[$Cash$,$Retained Earnings$],[$Accounts Receivable,Dividends$],[$Office Supplies,Income Summary$],[$Prepaid Insurance,Service Revenue$],[$Truck$,$Salaries Expense$],[$Accumulated Depreciation$-$Truck,Depreclation Expense$-$Truck$],[$Accounts Payable,Insurance Expense$],[$Salaries Payable,Fuel Expense$],[$Unearned Revenue,Rent Expense$],[$Common Stock,Supplies Expense$]]$

Post the transactions in the $T-$accounts.

Prepare an unadjusted trial balance as of December $31,2023.$ Check Unadjusted Trial Bal $=$$$51,000$

Prepare a worksheet as of December $31,2023.$

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$-$accounts.

Adjustment data:

a$.$ Accrued Salaries Expense, $$1,000.$

b$.$ Depreciation was recorded on the truck using the straight$-$line method. Assume a useful life of five years and a salvage value of $$5,000.$

c$.$ Prepaid Insurance for the month has expired.

d$.$ Office Supplies on hand, $$100.$

e$.$ Unearned Revenue earned during the month, $$300.$

f$.$ Accrued Service Revenue, $$650.$

Check adjusted Trial Bal$=$$$2,850$

Prepare an adjusted trial balance as of December $31,2023.$ Check Adjusted Trial Bal $=$$$52,900$

Prepare Miller Delivery Service's income statement and statement of retained earnings for the month ended December $31,2023,$ and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount$-$ that is$,$ the largest expense first, the smallest expense last.

Journalize the closing entries, and post to the T$-$accounts.

Prepare a post$-$closing trial balance as of December $31,2023.$ Check Post$-$Closing Trial Balance $-$$$45,100$