Question
Comprehensive Problem 2 for chapters 1-4 Jan. 3 Collected $200 cash from customer on account. 5 Purchased office supplies on account, $1,000. 12 Performed delivery
Comprehensive Problem 2 for chapters 1-4
Jan. 3 Collected $200 cash from customer on account.
5 Purchased office supplies on account, $1,000.
12 Performed delivery services for a customer and received $3,000 cash.
15 Paid employee salary, including the amount owed on December 31, $4,100.
18 Performed delivery services on account, $1,350.
20 Paid $300 on account.
24 Purchased fuel for the truck, paying $200 cash.
27 Completed the remaining work due for Unearned Revenue.
28 Paid office rent, $2,200, for the month of January.
30 Collected $3,000 in advance for delivery service to be performed later.
31 Cash dividends of $1,500 were paid to stockholders.
a. Office Supplies on hand, $600.
b. Accrued Service Revenue, $1,800.
c. Accrued Salaries Expense, $500.
d. Prepaid Insurance for the month has expired.
e. Depreciation was recorded on the truck for the month.
7.Prepare Murphy Delivery Service's income statement and statement of retained earnings for the month ended January 31, 2019, 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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started