Comprehensive Problem $1$ for Chapters $2-3$;

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

Dec $1$ Miler Delvery Service began oper ations by recelving $$10,000$ cash and a truck. with a fair value of $$20,000$ from Robert Mikr The business issued Miler shares of common stock in exchange for this contribution.

Paid $$1,000$ cash for a foumonth hisurance policy the policy begins December I

Paid $$500$ cash for office supples.

Ferfomed delivery services for a custamer and necelved $$2,000$ cash.

compteded a large delivery job, billed the customa, $$2,500,$ and recelied a

pronise to collect the $$2,500$ within one werk.

Pisid emplyere salang $$1,000.$

Received $$15,000$ cash for pertorring delinery sevices.

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

Colected $52,500$ cash from curtomer on account.

Aurchased fuel for the trud, paying $$300$ on account. $($Credit Accounts Payable$)$

Performed delivery services on acoount, $$700.$

Paid olfice rent, $$1,600,$ for the month of Decombe.

Paid $$300$ on account

Cash dividends of $$3,000$ were pad to staxthoiders.

Requlrements

Recerd each transaction in the journal using the following chan of accounts. Explanations are not required.

Cash

Retained Earnings

Accounts Recelvable

Office Supplies

Prepaid Insurance

Truck

Accumulated Depreciation$-$Truck

Accounts Payable

Salaries Payable

Unearned Revenue

Common Stock

Dividends

Income Summary

Service Revenue

Salaries Expense

Depreciation Expense$-$Truck Insurance Expense

Fuel Expense

Rent Expense

Supplies Expense

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

Jourmalize the adjusting entries using the following adjustment data nad also by reviewing the journal entries prepared in Requirement $1.$ Post adjusting entries to the T$-$accounts.

Adjustment dats:

$2.$ Acerued Salaries Expense, $51,000.$

b$.$ Depreciation was recorded on the truck using the straight$-$line method. Assume a usefil tiff of five ycars and a salvage value of SS$,000.$

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

d$.$ Omice Supplies on hand, $5100.$

c$.$ Unearned Revenue eamed during the month, $5300.$

Acerued Service Revenue, S$650.$

Cheek 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 carnings 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 elosing cntries, and poss to the T$-$accounts.

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