Following is the November, 30, 2020 unadjusted trial balance of Zenith Delivery Company, Inc. The account balances represent the results of entries recorded during the first 11 months of 2020. There have been no stock transactions during the year.

The following transactions occurred during the month of December 2020:

Dec. 03 Paid accounts payable of $350.

5. Paid insurance premiums of $9,200 in advance (use permanent account).
6. Received $90 as advance payment of delivery service (use permanent account).

9. Billed and collected $6,320 in cash from delivery fees.
10. Purchased $920 of office supplies on account.
11. Acquired a truck worth $42,000 by paying $7,400 in cash and giving a long-term note payable for the balance.

15. Paid wages of $2,200 for the period December 1-15.
16. Collected $2,450 of accounts receivable.
17. Paid $1,460 cash for repairs to trucks.

21. Paid $1,700 cash for advertising on a local television station.

28. Paid wages of $1,800 for the period December 16-28.
29. Billed and collected $3,900 in cash from delivery fees.

31 Declared and paid dividends in the amount of $1,200.

REQUIRED

1. Enter the November 30, 2020 account balances into the general ledger accounts.
2. Prepare and post journal entries to record the December transactions previously listed. Entries should be in full format . Use the Excel templates provided for the General Journal and Ledger.
3. Prepare a 10-column worksheet and enter the December 31 unadjusted balances from the general ledger. Prepare and post adjusting entries for the following items, and complete the worksheet:
4. Unpaid wages were $420 as of December 31.
5. The December 31 office supplies inventory was $80.
6. The unexpired portion of the prepaid rent was $600 as of December 31.
7. The unexpired portion of the prepaid insurance was $4,070 as of December 31.
8. Depreciation for the year on the trucks was $27,440.
9. Unearned delivery fees balance at December 31 was $375.
10. Interest Expense on the notes payable for 2020 was $31,000, payable February 1, 2021.

(4.to10. should be a. to g. in the third point)

4. Prepare a single-step income statement and a statement of changes in retained earnings for the year, and a classified balance sheet as of December 31, 2020 in proper format. Assume that Zenith had 10,000 common shares outstanding in 2020. Attach these pages to your assignment.
5. Journalize and post the closing entries.
6. Prepare a post-closing trial balance on a separate page.

Tamplates:

Zenith Delivery Company, Inc. Unadjusted Trial Balance November 30, 2020 ACCT# DEBITS CREDITS $ 69,660 4,600 730 1,200 6,500 295,000 Cash Accounts Receivable Office Supplies Prepaid Rent Prepaid Insurance Trucks Accumulated Depreciation, Trucks Accounts Payable Interest Payable Wages Payable Uneamed Delivery Fees Long-Term Notes Payable Common Stock, No-Par Retained Earnings Dividends Delivery Fees Earned Depreciation Expense, Trucks Wages Expense Interest Expense Rent Expense Insurance Expense Office Supplies Expense Advertising Expense Truck Repair/Gas Expense General and Administrative Expense Income Summary 101 125 126 127 128 150 151 201 202 203 213 230 301 302 390 401 510 520 521 522 523 524 525 526 527 901 115,000 1,300 0 0 1,600 128,000 20,000 42,000 15,000 180,000 0 36,800 0 0 0 0 4,800 38,940 14,670 0 487,900 $ 487,900 A1 fx General Journal A D E F 1 B General Journal Account Ref. Page: Date Debit Credit 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 A1 A @fx General Ledger B D General Ledger E F 1 2 Cash #101 Ref Debit Credit Balance 3 Date Item 4. 5 6 7 8 9 10 11 12. 13 14 15 16 17 18 19 Accounts Receivable - #125 Ref 20 Date Item Debit Credit Balance 21 22 23 A25 fx Office Supplies - #126 B D E F. A 25 Office Supplies #126 Ref Item Debit Credit Balance 26 Date 27 28 29 30 31 32 Prepaid Rent #127 Ref Item Debit Credit Balance 33 Date 34 35 36 37 38 39 Prepaid Insurance #128 Ref 40 Date Item Debit Credit Balance 41 42 43 44 A46 @fx Trucks #150 B B D E F A 46 Trucks #150 Ref Debit Credit Balance 47 Date Item 48 49 50 51 52 Accumulated Depreciation, Truck #151 Ref Item Debit Credit Balance 53 Date 54 55 56 57 58 Accounts Payable #201 Ref 59 Date Item Debit Credit Balance 60 61 62 63 B D E F Debit Credit Balance A65 fx Interest Payable - #202 A B 65 Interest Payable - #202 Ref 66 Date Item 67 68 69 70 71 Wages Payable - #203 Ref 72 Date Item 73 74 75 76 77 78 Unearned Delivery Fees #213 Ref 79 Date Item 80 81 82 83 Debit Credit Balance Debit Credit Balance E F Credit Balance A85 @ fx Long-Term Notes Payable #230 A B. D 84 85 Long-Term Notes Payable - #230 Ref 86 Date Item Debit 87 88 89 90 91 Common Stock, No-Par #301 Ref 92 Date Item Debit 93 94 95 96 Retained Earnings #302 Ref 97 Date Item Debit 98 99 100 101 Credit Balance Credit Balance A103 @fx Dividends - #390 B B D E F 102 103 Dividends - #390 Ref Item Debit Credit Balance 104 Date 105 106 107 108 109 110 Delivery Fees Earned #401 Ref Debit Credit Balance 111 Date Item 112 113 114 115 116 117 118 119 120 Depreciation Expense, Trucks #518 Ref 121 Date Item Debit Credit Balance 122 123 124 125 A127 @fx Wages Expense - #520 B. D E F A 126 127 Wages Expense #520 Ref Item Debit Credit Balance 128 Date 129 130 131 132 133 134 135 136 Interest Expense #521 Ref Item Debit Credit Balance 137 Date 138 139 140 141 142 143 144 Rent Expense - #522 Ref 145 Date Item Debit Credit Balance 146 147 148 149 A152 #523 @fx Insurance Expense B D E F A 151 152 Insurance Expense #523 Ref Debit Credit Balance 153 Date Item 154 155 156 157 158 159 Office Supplies Expense - #524 Ref Item Debit Credit Balance 160 Date 161 162 163 164 165 166 Advertising Expense #525 Ref 167 Date Item Debit Credit Balance 168 169 170 171 A173 @fx Truck Repair/Gas Expense #526 D E F A B 171 172 173 Truck Repair/Gas Expense #526 Ref Debit Credit Balance 174 Date Item 175 176 177 178 179 180 181 General and Administrative Expense #527 Ref Item Debit Credit Balance 182 Date 183 184 185 186 187 188 Income Summary #901 Ref 189 Date Item Debit Credit Balance 190 191 192 193 194 195 L3 e fx J K 2 Balance Sheet Debit Credit Unearned A B D F H 1 Ten-Column Worksheet for the Year Ended December 31, 2020 Account Title adjusted Trial Balan Adjustaents djusted Trial Balanc Incone Statenent 4 Debit Credit Debit Credit Debit Credit Debit Credit 5 Cash 6 Accounts 7 Office Supplies 8 Prepaid Rent 9 Prepaid 10 Trucks 11 Accumulated Depreciation, 12 Accounts 13 Interest 14 Wages Payable 15 Delivery Fees 16 Long-Term Notes Payable 17 on Common Stock, No-Par Retained 18 Earnings 19 Dividends 20 Delivery Fees 21 PP Depreciation Expense, Trucks 22 Wages Expense 23 Interest 24 Rent Expense 25 Insurance 26 Office Supplies Expense 27 Advertising 28 Truck Repair/Gas 29 General and Administrative 30 Totals 31 Net Income 32 Totals