I need comprehensive problem #2 done

ULLIVIS Comprehensive Problem 1 for Chapters 1-4 business and Murphy Delivery Service completed the following transactions during December 2018: Dec. 1 Murphy Delivery Service began operations by receiving $13,000 cash a truck with a fair value of $9,000 from Russ Murphy. The business Murphy capital in exchange for this contribution 1 Paid $600 cash for a six-month insurance policy. The policy begins Deco 4 Paid $750 cash for office supplies. 12 Performed delivery services for a customer and received 52,200 cash 15 Completed a large delivery job, billed the customer, $3,300, and receive promise to collect the $3,300 within one week. 18 Paid employee salary, $800. 20 Received $7,000 cash for performing delivery services. Collected $2,200 in advance for delivery service to be performed later, 25 Collected $3,300 cash from customer on account. 27 Purchased fuel for the truck, paying $150 on account. (Credit Accounts Pa 28 Performed delivery services on account, $1,400. 29 Paid office rent, $1,400, for the month of December 30 Paid $150 on account. 31 Murphy withdrew cash of $2,500. Requirements 1. Record each transaction in the journal using the following chart of accounts Explanations are not required. Cash Murphy, Withdrawals Accounts Receivable Income Summary Office Supplies Service Revenue Prepaid Insurance Salaries Expense Truck Depreciation Expense--Truck Accumulated Depreciation-Truck Insurance Expense Accounts Payable Fuel Expense Salaries Payable Rent Expense Unearned Revenue Supplies Expense Murphy, Capital 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2018. 4. Prepare a worksheet as of December 31, 2018 (optional). 5. Journalize the adjusting entries using the following adjustment data and reviewing the journal entries prepared in Requirement 1. Post adjusting! the T-accounts. Completing the Accounting C Adjustment data: a. Accrued Salaries Expense, 5800 b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of five years and a salvage value of $3,000. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, 5450. e. Unearned Revenue earned during the month, $700. f. Accrued Service Revenue, $450. 6. Prepare an adjusted trial balance as of December 31, 2018. 7. Prepare Murphy Delivery Services income statement and statement of owner's equity for the month ended December 31, 2018, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount--that is, the largest expense first, the smallest expense last. 8. Journalize the closing entries, and post to the T-accounts 9. Prepare a post-closing trial balance as of December 31, 2018 Comprehensive Problem 2 for Chapters 1-4 This comprehensive problem is a continuation of Comprehensive Problem 1. Murphy Delivery Service has completed closing entries and the accounting cycle for 2018. The business is now ready to record January 2019 transactions. Jan. 3 Collected $200 cash from customer on account. 5 Purchased office supplies on account, $1,000 12 Performed delivery services for a customer and received $3,000 cash. 15 Paid employee salary, including the amount owed on December 31, $4,100. 18 Performed delivery services on account, $1,350. 20 Paid $300 on account. 24 Purchased fuel for the truck, paying $200 cash. 27 Completed the remaining work due for Unearned Revenue. 28 Paid office rent, $2,200, for the month of January. 30 Collected $3,000 in advance for delivery service to be performed later. 31 Murphy withdrew cash of $1,500 Requirements 1. Record each January transaction in the journal. Explanations are not required. 2. Post the transactions in the T-accounts. Don't forget to use the December 31, 2018, ending balances as appropriate 3. Prepare an unadjusted trial balance as of January 31, 2019. 4. Prepare a worksheet as of January 31, 2019 (optional). 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts. HORNGREN'S ACCOUNTING - 12th Edition Comprehensive Problem 2 For Chapters 1-4 Requirements 1. Record each transaction in the journal. Explanations are not required. Ledger Boole 2. Post the transactions in the accounts. Don't forget to use the December 31, 2018 ending balances as appropriate. 3. Prepare an unadjusted trial balance as of January 31, 2019. 4. Prepare a worksheet as of January 31, 2019. (optional) 5. Journalize the adjusting entries using the following adjustment data. Post adjusting entries to the Taccounts. Ledger Book 6. Prepare an adjusted trial balance as of January 31, 2019. 7. Prepare Murphy Delivery Service's income statement and statement of owner's equity for the month ended January 31, 2019, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount that is, the largest expense first, the smallest expense last. 8 Calculate the following ratios as of January 31, 2019 for Murphy Delivery Service: return on assets, debt ratio, and current ratio. the largest expense first, the smallest expense last HORNGREN'S ACCOUNTING - 12th Edition Solution: Requirement 1 Date Accounts and Explanation Debit Credit pter 4: Completing the Accounting Cycle largest expense first, the smallest expenses cosing entries, and post to the accounts ost-closing trial balance as of December 31, 2018 HORNGREN'S ACCOUNTING - 12th Edition Requirement 2,5 Requirement 3 MURPHY DELIVERY SERVICE Unadjusted Trial Balance January 31, 2018 Account Title Balance Debit Credit pter 4: Completing the Accounting Cycle Requirement 4 MURPHY DELIVERY SERVICE Worksheet January 31, 2019 Adjustments Adjusted Trial Balance Debit Credit Debit Credit Unadjusted Trial Balance Debit Account Names Income Statement Debit Credit Balance Sheet Debit Credit Credit ter 4: Completing the Accounting Cycle Page 5 of IORNGREN'S ACCOUNTING - 12th Edition Requirement 5 Date Accounts and Explanation Debit Credit Completing the Accounting Cycle list expenses in decreasing order by the largest expense first the smallest pense last ournalize the closi HORNGREN'S ACCOUNTING - 12th Edition Requirement 6 MURPHY DELIVERY SERVICE Adjusted Trial Balance January 31, 2019 Account Title Balance Debit Credit ter 4: Completing the Accounting Cycle Come statement, list ant that is, the largest expense fish es in decreasing order by Journali ORNGREN'S ACCOUNTING - 12th Edition Requirement 7 MURPHY DELIVERY SERVICE Income Statement Month Ended January 31, 2019 MURPHY DELIVERY SERVICE Statement of Owner's Equity Month Ended January 31, 2019 er 4: Completing the Accounting Cycle ANGREN'S ACCOUNTING - 12th Edition MURPHY DELIVERY SERVICE Balance Sheet January 31, 2019 Assets Liabilities Owner's Equity 4: Completing the Accounting Cycle ULLIVIS Comprehensive Problem 1 for Chapters 1-4 business and Murphy Delivery Service completed the following transactions during December 2018: Dec. 1 Murphy Delivery Service began operations by receiving $13,000 cash a truck with a fair value of $9,000 from Russ Murphy. The business Murphy capital in exchange for this contribution 1 Paid $600 cash for a six-month insurance policy. The policy begins Deco 4 Paid $750 cash for office supplies. 12 Performed delivery services for a customer and received 52,200 cash 15 Completed a large delivery job, billed the customer, $3,300, and receive promise to collect the $3,300 within one week. 18 Paid employee salary, $800. 20 Received $7,000 cash for performing delivery services. Collected $2,200 in advance for delivery service to be performed later, 25 Collected $3,300 cash from customer on account. 27 Purchased fuel for the truck, paying $150 on account. (Credit Accounts Pa 28 Performed delivery services on account, $1,400. 29 Paid office rent, $1,400, for the month of December 30 Paid $150 on account. 31 Murphy withdrew cash of $2,500. Requirements 1. Record each transaction in the journal using the following chart of accounts Explanations are not required. Cash Murphy, Withdrawals Accounts Receivable Income Summary Office Supplies Service Revenue Prepaid Insurance Salaries Expense Truck Depreciation Expense--Truck Accumulated Depreciation-Truck Insurance Expense Accounts Payable Fuel Expense Salaries Payable Rent Expense Unearned Revenue Supplies Expense Murphy, Capital 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2018. 4. Prepare a worksheet as of December 31, 2018 (optional). 5. Journalize the adjusting entries using the following adjustment data and reviewing the journal entries prepared in Requirement 1. Post adjusting! the T-accounts. Completing the Accounting C Adjustment data: a. Accrued Salaries Expense, 5800 b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of five years and a salvage value of $3,000. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, 5450. e. Unearned Revenue earned during the month, $700. f. Accrued Service Revenue, $450. 6. Prepare an adjusted trial balance as of December 31, 2018. 7. Prepare Murphy Delivery Services income statement and statement of owner's equity for the month ended December 31, 2018, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount--that is, the largest expense first, the smallest expense last. 8. Journalize the closing entries, and post to the T-accounts 9. Prepare a post-closing trial balance as of December 31, 2018 Comprehensive Problem 2 for Chapters 1-4 This comprehensive problem is a continuation of Comprehensive Problem 1. Murphy Delivery Service has completed closing entries and the accounting cycle for 2018. The business is now ready to record January 2019 transactions. Jan. 3 Collected $200 cash from customer on account. 5 Purchased office supplies on account, $1,000 12 Performed delivery services for a customer and received $3,000 cash. 15 Paid employee salary, including the amount owed on December 31, $4,100. 18 Performed delivery services on account, $1,350. 20 Paid $300 on account. 24 Purchased fuel for the truck, paying $200 cash. 27 Completed the remaining work due for Unearned Revenue. 28 Paid office rent, $2,200, for the month of January. 30 Collected $3,000 in advance for delivery service to be performed later. 31 Murphy withdrew cash of $1,500 Requirements 1. Record each January transaction in the journal. Explanations are not required. 2. Post the transactions in the T-accounts. Don't forget to use the December 31, 2018, ending balances as appropriate 3. Prepare an unadjusted trial balance as of January 31, 2019. 4. Prepare a worksheet as of January 31, 2019 (optional). 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts. HORNGREN'S ACCOUNTING - 12th Edition Comprehensive Problem 2 For Chapters 1-4 Requirements 1. Record each transaction in the journal. Explanations are not required. Ledger Boole 2. Post the transactions in the accounts. Don't forget to use the December 31, 2018 ending balances as appropriate. 3. Prepare an unadjusted trial balance as of January 31, 2019. 4. Prepare a worksheet as of January 31, 2019. (optional) 5. Journalize the adjusting entries using the following adjustment data. Post adjusting entries to the Taccounts. Ledger Book 6. Prepare an adjusted trial balance as of January 31, 2019. 7. Prepare Murphy Delivery Service's income statement and statement of owner's equity for the month ended January 31, 2019, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount that is, the largest expense first, the smallest expense last. 8 Calculate the following ratios as of January 31, 2019 for Murphy Delivery Service: return on assets, debt ratio, and current ratio. the largest expense first, the smallest expense last HORNGREN'S ACCOUNTING - 12th Edition Solution: Requirement 1 Date Accounts and Explanation Debit Credit pter 4: Completing the Accounting Cycle largest expense first, the smallest expenses cosing entries, and post to the accounts ost-closing trial balance as of December 31, 2018 HORNGREN'S ACCOUNTING - 12th Edition Requirement 2,5 Requirement 3 MURPHY DELIVERY SERVICE Unadjusted Trial Balance January 31, 2018 Account Title Balance Debit Credit pter 4: Completing the Accounting Cycle Requirement 4 MURPHY DELIVERY SERVICE Worksheet January 31, 2019 Adjustments Adjusted Trial Balance Debit Credit Debit Credit Unadjusted Trial Balance Debit Account Names Income Statement Debit Credit Balance Sheet Debit Credit Credit ter 4: Completing the Accounting Cycle Page 5 of IORNGREN'S ACCOUNTING - 12th Edition Requirement 5 Date Accounts and Explanation Debit Credit Completing the Accounting Cycle list expenses in decreasing order by the largest expense first the smallest pense last ournalize the closi HORNGREN'S ACCOUNTING - 12th Edition Requirement 6 MURPHY DELIVERY SERVICE Adjusted Trial Balance January 31, 2019 Account Title Balance Debit Credit ter 4: Completing the Accounting Cycle Come statement, list ant that is, the largest expense fish es in decreasing order by Journali ORNGREN'S ACCOUNTING - 12th Edition Requirement 7 MURPHY DELIVERY SERVICE Income Statement Month Ended January 31, 2019 MURPHY DELIVERY SERVICE Statement of Owner's Equity Month Ended January 31, 2019 er 4: Completing the Accounting Cycle ANGREN'S ACCOUNTING - 12th Edition MURPHY DELIVERY SERVICE Balance Sheet January 31, 2019 Assets Liabilities Owner's Equity 4: Completing the Accounting Cycle