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COMPREHENSIVE PROBLEMS > Comprehensive Problem 1 for Chapters 1-4 Murphy Delivery Service completed the following transactions during December 2018: Dec. 1 Murphy Delivery Service began
COMPREHENSIVE PROBLEMS > Comprehensive Problem 1 for Chapters 1-4 Murphy Delivery Service completed the following transactions during December 2018: Dec. 1 Murphy Delivery Service began operations by receiving $13,000 cash and a truck with a fair value of $9,000 from Russ Murphy. The business issued Murphy capital in exchange for this contribution Paid $600 cash for a six-month insurance policy. The policy begins Paid $750 cash for office supplies. 1 4 12 15 December 1 Performed delivery services for a customer and received $2,200 cash Completed a large delivery job, billed the customer, $3,300, and received a promise to collect the $3,300 within one week. 18 20 22 25 27 28 29 30 31 Paid employee salary, $800. Received $7,000 cash for performing delivery services. Collected $2,200 in advance for delivery service to be performed later Collected $3,300 cash from customer on account. Purchased fuel for the truck, paying $150 on account. (Credit Accounts Payable) Performed delivery services on account, $1,400. Paid office rent, $1,400, for the month of December. Paid $150 on account. Murphy withdrew cash of $2,500 Requirements Record each transaction in the journal using the following chart of accounts. Explanations are not required. 1. Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Accumulated Depreciation-Truck Accounts Payable Salaries Payable Unearned Revenue Murphy, Capital Murphy. Withdrawals Income Summary Service Revenue Salaries Expense Depreciation Expense Truck Insurance Expense Fuel Expense Rent Expense Supplies Expense 2. Post the transactions in the Taccounts 3. Prepare an unadjusted tria 4. Prepare a worksheet as of December 31, 2018 (optional) 5. Journalize the adjusting entries using the following adjustment data a I balance as of December 31, 2018. reviewing the journal entries prepared in Requirement lPost adjustint also the T-accounts. nt 1. Post adjusting entries to
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