Mollys Meal Delivery Service
Mollys Meal Delivery service has been in business for seven years. The Chart of Accounts is below:
They provide home-cooked meals for corporate events as well as individual needs.
Mollys operates with a December 31, 20XX financial year-end.
Chart of Accounts
Assets
101		Cash
140		Food Supplies
145		Kitchen Supplies
150		Prepaid Rent
175		Ovens
175.1		Accum. Depr. - Ovens
176		Kitchen Equipment
176.1		Accum. Depr. Kitchen Equipment
Liabilities
201		Accounts Payable
210		Wages Payable
Owners Equity
301		Molly Murphy, Capital
302		Molly Murphy, Drawing
Revenues
401		Meal Delivery Revenue
Expenses
501		Food Supply Expense
511		Wage Expense
521		Rent Expense
531		Kitchen Supply Expense
541		Phone Expense
542		Utilities Expense
561		Depr. Expense Ovens
562		Depr. Expense Kitchen Equipment
The following transactions took place during November, 20XX
1	Molly invested cash in business, $20,000.
1	Purchased (2) new ovens on account for $6,300. The ovens have estimated useful lives of 7 years. The ovens will be paid for in January, with no interest.
1	Molly paid rent for November and December, $3,000 total.
4	Purchased food supplies from Sammys Super Market on account, $2,000.
7	Deposited meal delivery fees, $3,400
10	Paid wages to kitchen workers, $2,000.
11	Purchased kitchen supplies with cash, $500.
14	Deposited meal delivery fees, $3,000.
15	Purchased food supplies from Sammys Super Market on account, $2,500.
21	Deposited meal delivery fees, $3,200.
24	Paid wages to kitchen workers, $2,050.
28	Deposited meal delivery fees, $3,050
30	Paid phone bill, $200.
30	Paid utilities bill, $500.
30	Molly Murphy withdrew cash for personal use, $3,000.
Adjustment information for the end of November is provided below.
(a)	Food supplies remaining on hand, $2050. Beginning balance was $2100
(b)	Kitchen supplies used during the month, $600. Beginning balance was $1200.
(c)	November rent was used.
(d)	Depreciation on the kitchen ovens for November, $75. All other ovens and kitchen equipment were fully depreciated earlier in the year.
(e)	Wages earned, but not yet paid at end of November, $950.
Required:
Excel sheets to be used in completing the problem are: General Journal, General Ledger, Worksheet, Financial Statements
1	Enter the November transactions in the General Journal.
2	Post the entries to the General Ledger. Beginning account balances are provided in the General Ledger.
3	Prepare the trial balance on the Worksheet.
4	Journalize the adjusting entries to the General Journal.
5	Complete the Worksheet.
5	Post the adjusting entries to the General Ledger.
6	Prepare the Income Statement
7	Prepare the Statement of Owners Equity
8	Prepare the Balance Sheet
9	Journalize the closing entries to the General Journal.
10	Posting the closing entries to the General Ledger.
11	Prepare a Post-Closing Trial Balance.