Green Initiatives began operations on October 1, 2019. The November 30, 2019 unadjusted trial balance is included on the trial balance tab. Record the following transactions and events for December, 2019.

Dec.		2		Paid $1,090 cash to Southview Mall for Green Initiatives share of mall advertising costs.
Dec.		3		Paid $540 cash for minor repairs to the companys computer.
Dec.		4		Received $7,000 cash from Jackson Engineering Co. for the receivable from November.
Dec.		10		Paid cash to Michael Green for six days of work at the rate of $180 per day.
Dec.		14		Notified by Jackson Engineering Co. that Green Initiatives bid of $7,200 on a proposed project has been accepted. Jackson paid a $1,600 cash advance to Green Initiatives.
Dec.		15		Purchased $2,300 of computer supplies on credit from Pelcher Office Products.
Dec.		16		Sent a reminder to Hayes Co. to pay the fee for services recorded on November 8.
Dec.		20		Completed a project for Brady Corporation and received $8,000 cash.
Dec.		28		Received $4,600 cash from Hayes Co. on its receivable.
Dec.		29		Reimbursed M. Green for business automobile mileage (800 miles at $0.32 per mile).
Dec.		31		M. Green withdrew $2,600 cash from the company for personal use.

The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the companys first three months.

1. The December 31 inventory count of computer supplies shows $1,540 still available.
2. Three months have expired since the 12-month insurance premium was paid in advance.
3. As of December 31, Michael Green has not been paid for four days of work at $180 per day.
4. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
5. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
6. Three of the four months prepaid rent have expired.

General Journal tab - Prepare journal entries for each of the December transactions. Then, using the information given for adjustments, prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy.

General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances.

Trial Balance tab - You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs.

Income Statement tab - Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection.

Statement of Owner's Equity tab - The unadjusted or adjusted balances will appear for each account, based on your selection.

Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection.

Impact on Income tab - For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the dropdown.

• Requirement
• General Journal
• General Ledger
• Trial Balance
• Income Statement
• St Owners Equity
• Balance Sheet
• Impact on Income

Prepare journal entries for each of the December transactions. If no journal entry is required, select "No journal entry required" in the first account field. Then, using the 3-step adjusting entry process, and the information given for adjustments, prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy.

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Journal entry worksheet

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Note: Enter debits before credits.

Date	Account Title	Debit	Credit
Dec 02

You may view either the unadjusted or adjusted trial balance by choosing from the drop-down box below. Your choice will determine the reported values on the financial statement tabs.

UnadjustedAdjustedPost-closing

Unadjusted

GREEN INITIATIVES
Trial Balance
December 31, 2019
Account Title	Debit	Credit
Cash	26,570
Accounts receivable	24,400
Computer supplies	3,270
Prepaid insurance	3,440
Prepaid rent	8,100
Office equipment	14,400
Computer equipment	25,120
M. Green, Capital		85,000
M. Green, Withdrawals	7,800
Computer services revenue		37,600
Wages expense	3,780
Advertising expense	2,940
Mileage expense	880
Miscellanous expenses	490
Repairs expense - Computer	1,410
Total	122,600	122,600