Date General Journal Description Debit Credit Cash Accounts Payable Account Receivables Wages Payable Supplies Prepaid Insurance Equipment Accumulated Depreciation Common Stock Insurance Expense Retained Earnings Supplies Expense Service Revenue Depreciation Expense Rent Expense Dividends Wages Expense e Expense Expense on Expense dends Unadjusted Trial Balance Accounts Debit Cash Accounts Receivables Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Service Revenue Rent Expense Wages Expense Insurance Expense Supplies Expense Depreciation Expense Totals Credit Adjusted Trial Balance Debit Cash Accounts Receivables Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Service Revenue Rent Expense Wages Expense Insurance Expense Supplies Expense Depreciation Expense Totals Credit Income Statement Statement of Stockholders' Equity For the month Ended December 31, 20XX For the month Ended December 31, 20XX t of Stockholders' Equity h Ended December 31, 20XX Classified Balance Sheet At December 31, 20XX 5/22/2020 Take Test: Step II - Instructions and Transactions Page &ndash... My DCCCD Courses Community Victoria Brown My Server Question Completion Status: 1 ? 2020SU-ACCT-2301-84400 2020SU Prin of Financial Accounting (ACCT-2301-84400) Accounting Cycle Project Take Test: Step II - Instructions and Transactions Page Take Test: Step II - Instructions and Transactions Page Test Information Description The project includes 10 required items. Complete required items 1 - 10 by entering the appropriate accounting information in your template.Please use your name as the name of the company for the purpose of completing titles in your excel documents (Ex. John Smith, Inc.).After completing items 1 - 10 save your final template using the following name format: ACCT_Project_Yourfirstname_Yourlastname, Example: ACCT_Project_John_Smith. Record your answers to fill in the blank questions under items 4, 7, 8 and 10 using the information from your template. Submit the completed excel file as an attachment in the link under step III. Click Continue/Begin to start. Instructions Multiple Attempts Not allowed. This test can only be taken once. Force This test can be saved and resumed later. Completion Your answers are saved automatically. QUESTION 1 200 points Save Answer Required: #1. Prepare journal entries to record the December transactions in the General Journal Tab in the excel template le "Accounting Cycle Excel Template.xlsx". Use the following accounts as appropriate: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense. 1-Dec Began business by depositing $8500 in a bank account in the name of the company in exchange for 850 shares of $10 per share common stock. 1-Dec Paid the rent for the current month, $1250 . 1-Dec Paid the premium on a one-year insurance policy, $1320 . 1-Dec Purchased Equipment for $3600 cash. Purchased o ce supplies from XYZ Company on account, 5-Dec $300 . 15-Dec Provided services to customers for $8400 cash. 16-Dec Provided service to customers ABC Inc. on account, $7000 . 21-Dec Received $3000 cash from ABC Inc., customer on account. Paid $170 to XYZ company for supplies purchased on account on 23-Dec December 5 . 28-Dec Paid wages for the period December 1 through December 28, $5040 . 30-Dec Declared and paid dividend to stockholders $200 . #2. Post all of the December transactions from the \"General Journal\" tab to the T-accounts under the \"T-Accounts\" tab in the excel template le "Accounting Cycle Excel Template.xlsx". Assume there are no beginning balances in any of the accounts. #3. Compute the balance for each T-account after all of the entries have been posted. These are the unadjusted balance as of December 31. #4. Prepare the unadjusted trial balance under the \"Unadjusted Trial Balance\" tab in the excel template le "Accounting Cycle Excel Template.xlsx" . Provide the total of the credit column from the Unadjusted Trial Balance #5. Record the following four transactions as adjusting entries under the \"General Journal\" tab. 31 Dec One month's insurance has been used by the company Save All Answers Save and Submit https://dcccd.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_1386921_1&course_id=_556535_1&content_id=_20039... 1/3 5/22/2020 Take Test: Step II - Instructions and Transactions Page &ndash... y p y $110. 31-Dec The remaining inventory of unused o ce supplies is $90. 31-Dec Post all of the adjusting entries to the T-accounts under the \"T-Accounts\" tab. Compute the balance for each T-account after all of the #6. adjusting entries have been posted. These are the adjusted balance as of December 31. #7. Prepare the adjusted trial balance under the \"Adjusted Trial Balance\" tab as of December 31 in the excel template le "Accounting Cycle Excel Template.xlsx" . Provide the following accounts balances from the Adjusted Trial Balance: Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings #8. Prepare Income Statement, Statement of Stockholder's Equity, and Classi ed Balance Sheet under the \"Financial Statements\" tab for the month ended December 31, 20XX in the excel template le "Accounting Cycle Excel Template.xlsx". Provide the following amount from the Income Statement: Service Revenue Depreciation Expense Wages Expense Supplies Expense Rent Expense Insurance Expense 31-Dec Question Completion Status: The estimated depreciation on equipment is $60. 31-Dec Wages incurred from December 29 to December 31 but not yet paid or recorded 1 total $540. Net Income Provide the following account balance from the Statement of Stockholders' Equity: Dividends Provide the following account balances from the Balance Sheet: Current Assets Long-Term Assets Total Liabilities Total Stockholder's Equity Cash #9. Record the closing entries under the \"General Journal\" tab. #10. Does the ending balance of the Retained Earnings T-account agree with the balance of Retained Earnings on the Balance Sheet? Post all of the closing entries to the T-accounts under the \"T-Accounts\" tab. Compute the balance for each T-account after all of the closing entries have been posted. Provide the ending balance of Cash at December 31 from the T-accoun t Provide the balance of the Retained Earnings T-account after closing entries have been posted. Check Point: Total Assets $ 17,160.00 Save All Answers Save and Submit https://dcccd.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_1386921_1&course_id=_556535_1&content_id=_20039... 2/3 5/22/2020 Take Test: Step II - Instructions and Transactions Page &ndash... Question Completion Status: 1 Save All Answers Save and Submit https://dcccd.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_1386921_1&course_id=_556535_1&content_id=_20039... 3/3