Munroe Delivery Service completed the following transactions during December 2024 (Click the icon to view the transactions.) Read the requirements. The Unadjusted Trial Balance columns have been completed for you using the unadjusted trial balance you prepared in Requirement 3. Complete the worksheet one section at a time beginning with the Adjustments section. Enter the adjustments along with the adjustment letter references - (a), (b), (c), etc- - into the columns as appropriate. In the following step, complete the Adjusted Trial Balance section of the worksheet. For this section, and for the Income Statement and Balance Sheet sections, enter a " 0 " on the normal side of the account for any accounts with a zero balance. Lastly, complete the worksheet by preparing the Income Statement and Balance Sheet columns. For the Income Statement and Balance Sheet sections, only enter the " 0 " for a zero balance if the account is typically included in that section of the worksheet (Abbreviations used Acc = Accumulated Dep = Depreciation, Exp. = Expense.) (Click the icon to view the adjustment information) Dec. 1 Munroe Delivery Service began operations by receiving $7,000 cash and a truck with a fair value of $18,000 from Raleigh Munroe. The business issued Munroe shares of common stock in exchange for this contribution. Dec. 1 Paid $420 cash for a three-month insurance policy. The policy begins December 1. Dec. 4 Paid $800 cash for office supplies. Dec. 12 Performed delivery services for a customer and received $1,800 cash. Dec. 15 Completed a large delivery job, billed the customer, $2,000, and received a promise to collect the $2,000 within one week Dec. 18 Paid employee salary $1,400 Dec. 20 Received $6.000 cash for performing delivery services Dec. 22 Collected $1.400 in advance for delivery service to be performed later Dec. 25 Collected \$2,000 cash from customer on account Dec. 27 Purchased fuel for the truck payng $300 on account (Credit Accounts Payable) Dec. 28 Performed delivery services on account $1200 Dec. 28 Performed delivery services on account, $1,200. Dec. 29 Paid office rent $1600 for the month of December: Dec. 30 Paid $300 on account Dec. 31 Cash dividendis of $2.300 were paid to stockholders. Record each transaction in the journal using the following chart of accounts. Explanations are not required. 2. Post the transactions in the T-accounts 3. Prepare an unadjusted trial balance as of December 312024 4. Prepare a worksheet as of December 31,2024. 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. Adjustment data: a. Accrued Salaries Expense, $1,400 b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $8,400. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand $200 e. Unearned Revenue earned during the month, $300. f. Accrued Service Revenue, $850. 6. Prepare an adjusted trial balance as of December 31,2024 7. Prepare Munroe Delivery Service's income statement and statement of retained earnings for the month ended December 31,2024, 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 31,2024 Munroe Delivery Service completed the following transactions during December 2024 (Click the icon to view the transactions.) Read the
