HW-4 PREVIOUS 1 Next ? Problem 1 : Comp. Prob. 1 for Ch 1-4 Background: Assignment: Murphy Delivery Services began operation on December 1, 2018 and 1) Using the General Journal tab, click Add Transaction to completed the transactions listed below during the first month of journalize each transaction. Click Post Transaction once you operations. complete the entry, then repeat these steps for each transaction. 2) Click the Reports tab and review the results of recording these transactions on the General Ledger. 3) Under the Reports tab, review the Trial Balance generated as a result of recording these transactions. 4) Using the General Journal tab, click Add Transaction to iournalize each adiustinn entry needed. Click Pnst Transaction once Transactions: 12/01/2018 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 Common Stock in exchange for this contribution. 12/01/2018 Paid $600 cash for a six-month insurance policy. The policy begins December 1. 12/04/2018 Paid 5750 cash for office supplies. 12/12/2018 Performed delivery services for a customer and received 52.700 cash. SAVE WORK RESET RESULTS SueMIT WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Credit Closing Entry No transactions Journal ADO TRANSACTION EDUT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONS HW-4 PREVIOUS 1 Next ? Problem 1 : Comp. Prob. 1 for Ch 1-4 completed the transactions listed below during the first month of operations. journalize each transaction. Click Post Transaction once you complete the entry, then repeat these steps for each transaction. 2) Click the Reports tab and review the results of recording these transactions on the General Ledger. 3) Under the Reports tab, review the Trial Balance generated as a result of recording these transactions. 4) Using the General Journal tab, click Add Transaction to journalize each adjusting entry needed. Click Post Transaction once you complete the entry, then repeat these steps for each additional adiustina entry Transactions: 12/15/2018 Completed a large delivery job, billed the customer $3,300, and received a promise to collect this amount within one week. 12/18/2018 Paid employee salary of $800. 12/20/2018 Received $7,000 cash for performing delivery services. 12/22/2018 Collected $2,200 in advance for delivery services to be performed later. SAVE WORK RESET RESULTS Suemit WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Credit Closing Entry No transactions Journal ADO TRANSACTION EDUT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONS HW-4 PREVIOUS 1 Next ? Problem 1 : Comp. Prob. 1 for Ch 1-4 5) Click the Reports tab and review the adjusted Trial Balance generated sa result of preparing transactions in requirement 1 and 4. 6) Under the Reports tab, view the Income Statement and Balance Sheet generated as a result of preparing these transactions. 7) Based on this adjusted Trial Balance, prepare the necessary closing entries on December 31. Be sure to click the checkbox indicating that each transaction is a closing entry. 8) Click the Reports tab and review the post-closing Trial Balance generated as a result of preparing the closing entries in Transactions: 12/25/2018 Collected 53,300 cash from customer on account. 12/27/2018 Purchased fuel for the truck, paying $150 on account (credit Accounts Payable), 12/28/2018 Performed delivery services on account, $1,400. 12/29/2018 Paid office rent, $1,400, for the month of December. SAVE WORK RESET RESULTS SUBMIT WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Credit Closing Entry No transactions Journal ADO TRANSACTION EDUT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONS HW-4 PREVIOUS 1 Next ? Problem 1 : Comp. Prob. 1 for Ch 1-4 requirement 1 and 4. 6) Under the Reports tab, view the Income Statement and Balance Sheet generated as a result of preparing these transactions 7) Based on this adjusted Trial Balance, prepare the necessary closing entries on December 31. Be sure to click the checkbox indicating that each transaction is a closing entry. 8) Click the Reports tab and review the post-closing Trial Balance generated as a result of preparing the closing entries in Requirement 2. 9) Click Submit Work when complete. Transactions: 12/30/2018 Paid $150 on account 12/31/2018 Cash dividends of $2,500 were paid to stockholders. 12/31/2018 (Adjustment a) Accrued salary expense, 5800 12/31/2018 (Adjustment b) Record Depreciation on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $3,000 SAVE WORK RESET RESULTS SueMIT WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Credit Closing Entry No transactions Journal ADO TRANSACTION EDUT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONS HW-4 PREVIOUS 1 Next ? Problem 1 : Comp. Prob. 1 for Ch 1-4 requirement 1 and 4. 6) Under the Reports tab, view the income Statement and Balance Sheet generated as a result of preparing these transactions. 7) Based on this adjusted Trial Balance, prepare the necessary closing entries on December 31. Be sure to click the checkbox indicating that each transaction is a closing entry. 8) Click the Reports tab and review the post-closing Trial Balance generated as a result of preparing the closing entries in Requirement 2. 9) Click Submit Work when complete. Transactions: 12/31/2018 (Adjustment c) Prepaid insurance for the month has expired. 12/31/2018 (Adjustment d) Office Supplies on hand, $450, 12/31/2018 (Adjustment e) Unearned Revenue earned during the month, $700. 12/31/2018 (Adjustment f) Accrued Service Revenue, $450. SAVE WORK RESET RESULTS SueMIT WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Credit Closing Entry No transactions Journal ADO TRANSACTION EDUT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONS HW-4 PREVIOUS 1 Next ? Problem 1 : Comp. Prob. 1 for Ch 1-4 requirement 1 and 4 6) Under the Reports tab, view the income Statement and Balance Sheet generated as a result of preparing these transactions. 7) Based on this adjusted Trial Balance, prepare the necessary closing entries on December 31. Be sure to click the checkbox indicating that each transaction is a closing entry. 8) Click the Reports tab and review the post-closing Trial Balance generated as a result of preparing the closing entries in Requirement 2. 9) Click Submit Work when complete. Transactions: 12/31/2018 (Closing Entry 1) Close all revenue account. 12/31/2018 (Closing Entry 2) Close all expense accounts (compound entry). 12/31/2018 (Closing Entry 3) Close the Income Summary account. 12/31/2018 (Closing Entry 4) Close the Dividends account. SAVE WORK RESET RESULTS SUBMIT WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Credit Closing Entry No transactions Journal ADO TRANSACTION EDUT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONS