need help with requirements 2-8 please. Posted multiple pictures.

i hope this is a better picture for you. please let me know if you still arent able to see it.

here are the questions, i apologize for the quality of pictures.

Required

1. The general ledger contains the current balances for all accounts as of November 30, 2020. The subsidiary ledgers for A/R and A/P also contain the current balances as of November 30, 2020. Review the information in these accounts before beginning the project. Do NOT delete these balances. You need them to calculate the account balances and totals.

2. Journalize the December transactions in the general journal. Descriptions are not required. Be sure that the account names used are the same as on the Chart of Accounts tab and the customer or vendor name are included in AR & AP transactions (ex: A/P - Brinks Co.). Also, be sure to indent credit entries and note the account numbers in the Post Reference column.

3. Post daily to the Accounts Receivable Subsidiary Ledger and the Accounts Payable Subsidiary Ledger. Place a checkmark in the Post Reference column of the General Ledger next to the GL account number; i.e. 201/. The checkmark denotes that you have posted to the Subsidiary Ledger account. On December 31, post to the General Ledger.

4. Prepare an Unadjusted Trial Balance, using the worksheet. Complete the worksheet using the following adjustment information for December:

Office supplies on hand on December 31 are $1,427.

A physical count of inventory showed an ending inventory cost of $44,500.

Recorded depreciation on equipment for the month, $4,200.

Insurance expired during December is $300.

Earned $2,257 worth of the unearned service revenue.

Sales refunds estimated for the year $10,000

Cost of estimated returns for the year $2,000

5. Journalize and post the ADJUSTING entries in the GJ, Ledger and subsidiary ledgers.

6. Journalize and post the CLOSING entries in the GJ, Ledger and subsidiary ledgers.

7. Prepare JWs Lock & Keys financial statements for the year ended December 31, 2020.The breakouts on the Chart of Accounts may help categorizing and making sure all accounts are used on the financial statements. Additionally, please ensure to use the proper formatting (indentation, underlines, $ signs, etc.)

Note: Jake Walters Capital at December 1, 2020 was $262,643.

8. Prepare a Post-Closing Trial Balance.

Check Figures:

Unadjusted Trial Balance:

912,736

Cash Account Balance:

169,077

Net Income (Loss):

204,815

9. Be sure that all entries, the worksheet, financial statements and the post-closing trial balance have been dated.

Chart of Accounts:

101 Cash

105 Accounts Receivable

110 Inventory

112 Estimated Returns Inventory

115 Office Supplies

117 Prepaid Insurance

120 Equipment

121 Accum. Depreciation - Equipment

201 Accounts Payable

203 Refunds Payable

205 Unearned Service Revenue

301 Jake Walters, Capital

311 Jake Walters, Withdrawal

401 Service Revenue

405 Sales Revenue

410 Sales Discounts Forfeited

501 Cost of Merchandise Sold

502 Advertising Expense

505 Depreciation Expense

507 Insurance Expense

508 Office Supplies Expense

509 Salary Expense

511 Rent Expense

512 Telephone Expense

513 Utilities Expense

525 Miscellaneous Expense

999 Income Summary

Ledger must include accounts:

Cash

Accounts Receivable

Inventory

Estimated Returns Inventory

Office Supplies

Prepaid Insurance

Equipment

Accumulated Depreciation- Equipment

Accounts Payable

Refunds Payable

Unearned Service Revenue

Jake Walters, Captial

Jake Walters, Withdrawl

Service Revenue

Sales Revenue

Sales Discounts Forefeited

Cost of Merchandise Sold

Advertising expense

Depreciation Expense

Insurance Expense

Office Supplies Expense

Salary Expense

Rent Expense

Telephone expense

utilities expense

miscellaneous expense

income summary

Accounts Receivable Subs Ledger include accounts:

Nathan Dean

Jillian Roberts

Larry Contractor

two blank accounts (not sure which accounts need to be recorded in those boxes)

Accounts Payable Sub Ledger include accounts:

Lowes

Lock Supply Co

3 blank accounrs (not sure which accounts need to be recorded in those boxes)

Work sheet includes accounts:

Cash

Accounts Receivable

Inventory

Estimated Returns Inventory

Office Supplies

Prepaid Insurance

Equipment

Accum. Depreciation - Equip.

Accounts Payable

Refunds Payable

Unearned Service Revenue

Jake Walters, Capital

Jake Walters, Withdrawal

Service Revenue

Sales Revenue

Sales Discounts Forfeited

Cost of Merchandise Sold

Advertising Expense

Depreciation Expense

Insurance Expense

Office Supplies Expense

Salary Expense

Rent Expense

Telephone Expense

Utilities Expense

Miscellaneous Expense

TOTALS

NET INCOME (LOSS)

Final Statement must include:

JW's Lock & Key Income Statement JW's Lock & Key Balance Sheet

JW's Lock & Key Statement of Owners Equity

Post Closing trial balance includes accounts:

Cash

Accounts Receivable

Inventory

Estimated Returns Inventory

Office Supplies

Prepaid Insurance

Equipment

Accumulated Depreciation-Equipment

Accounts Payable

Refunds Payable

Unearned Service Revenue

Jake Walters, Capital

Totals

I hope this is better for you, thank you for your patience.

store that sells everything from keys to sales. You have just been hired as the accountant as of December 1, 2020 Required 1. The general ledger contains the current balances for all accounts as of November 30, 2020. The subsidiary ledgers for AR and MP also contain the current balances as of November 30, 2020. Review the information in these accounts before beginning the project. Do NOT delete these balances You need them to calculate the account balances and als 2. Joumalize the December transactions in the general joumal. Descriptions are not required. Be sure that the account rames used are the same as on the Chart of Accounts and the customer or vendor name are included in AR & AP transactions (ex: A/P - Brinks Co). Also, be sure to indent credit entries and not the court rumbers in the Post Reference column Post daily to the Accounts Receivable Subsidiary Ledger and the Accounts Payable Sutekitary Ledger Place a checkmark in the Post Reference column of the General Ledger need to the GL account number, 201. The checkmark denotes that you have posted to the Subsidiary Ledger account. On December 31, post to the General Ledger 4. Prepare an Unadjusted Trial Balance, using the worksheet Complete the worksheet using the following adjustment information for December Office supplies on hand on December 31 are $1.427. A physical count of invertory showed an ending inventory cost of 544.500 Recorded depreciation on equipment for the month, 1.200 insurance expired during center a $300 Earned $2.237 worth of the named service revenue Sales retunde estimated for the year $10,000 Cost of estimated retums for the year 12.000 deumatice and post the ADJUSTING entries in the CJ, Ledger and subsidiary ledgers. aumatice and CLOSING in the Ledger and subsidy Hagers. Prepare J.Lock & Key's financial statements for the year ended December 31, 2000. The breakouts on the Chart of Accounts may help categoring and making sure al accounts are used on the financial statements. Additionally. pease ensure to use the proper formatting indentation, Note the Water's Cat December 1, 2000 a $262.643 Prepare a Pow-Chong Balance Check Figures Unadused Trail Balance 912.736 Cash Account balance 60.077 Net income Los 200815 9. Be sure that all entries, the worksheel, financial statements and the post-closing balance have been dated Ws Lock & Key had the following transactions in December Transactions Dec. 1 Paid December's rent, check #6287. $2.650. 2 Paid annual premiums on property and casualty insurance policies. Check #6288, $1.925. 3 Performed locksmith services on new house, sent invoice #601 to the homeowner, Sam Mason, $2,700 4 Issued Invoice # 602 to Hastings who purchased a new safe on account. $3.500. Cost of Merchandise Sold was $1.250 5 Purchased office supplies, check # 6289, 3620 6 Purchased inventory from Key Supplies Co. $5.500 terms 1/10, 1/30 7 Paid UPS 5276 cash for delivery of the inventory purchased on December 6. 7 Jake deposited an additional $9.500 cash in the business. 8 Returned damaged inventory to Key Supplies Co. 5500 8 Received $2,500 cash, an advance payment for locksmith services. 9 Unlocked a safe for a customer and received $1,000 cash 9 Bought a new computer (equipment) from Office Depot on account. $1.824. 10 Sold 2 sales and received cash 2.200. Cost of Merchandise Sold was $800 11 Purchased 5 sales to restock inventory on account from Brinks Co, 54,458 terms, 25, 1:45. 12 Customer returned one of the safes purchased on December 10, refunded the customer $1.200 cash. Cost of Merchandise Sold was 5475 13 Paid Verizon for wireless telephone services $394, check #6290. 14 Paid Key Supplies Co for the purchase on December 6, less return and discount, check #6291. 14 Received cash on account, $1,500, From Nathan Dean. Dean did not pay his November invoice 1590 within the credit torms 2/10. The discount was forfeited. 15 Recorded cash sales for the store from the 1st to the 15th. $14,113. Cost of Merchandise Soid was $4.783. 16 Received $1,900 from Hastings on account. 17 Paid Office Depot on account, $500. check # 6292. 18 Performed locksmith services on account for Larry Contractor, 5700 19 Paid electrichy bill for December, check 6293, S1,492. 19 Paid for Domino's pizza delivery for the December office party, check 16294,5175 20 Jake withdrew $8,500 for a vacation 25 Paid the water bill for December, check #6295. $120. 25 Paid Brinks Co. on account. $2,500, check # 6296 26 Paid part time employees their salary, 52,700 27 Received cash on account from Larry Contractor, 5700 30 Recorded cash sales for the store from the 16th to the 30th, $8,735. Cost of Merchandise Sold was $2.784 he adjustment data for December is as follows: Office supplies on hand on December 31 are $1,427 b. A physical count of Inventory showed an ending inventory cost of $44.500 Recorded depreciation on equipment for the month, 54,200. Insurance expired during December is $300. Earned $2.257 worth of the uneamed service revenue 1. Sales refunds estimated for the year $10,000 g Cost of estimated returns for the year $2.000 JW's Lock & Key Chart of Accounts Liabilities 201 Accounts Payable 203 Refunds Payable 205 Uneared Service Revenue Assets 101 Cash 105 Accounts Receivable 110 Inventory 112 Estimated Returns Inventory 115 Office Supplies 117 Prepaid Insurance 120 Equipment 121 Accum. Depreciation - Equipment Owner's Equity 301 Jake Walters, Capital 311 Jake Walters, Withdrawal Revenues 401 Service Revenue 405 Sales Revenue 410 Sales Discounts Forfeited Expenses 501 Cost of Merchandise Sold 502 Advertising Expense 505 Depreciation Expense 507 Insurance Expense 508 Office Supplies Expense 509 Salary Expense 511 Rent Expense 512 Telephone Expense 513 Utilities Expense 525 Miscellaneous Expense Other Misc. 999 Income Summary Chart of Accounts ACCOUNT Cash 2020 ITEM DATE Now 30 B DEBIT CREDIT POST REF 11 ACCOUNT NO 101 BALANCE DET CREDIT 154.901 Ledger pg. 1 ACCOUNT Accounts Receivable POST REF NOW 30 B ITEM DEBIT CREDIT DATE ACCOUNT NO 105 BALANCE DEBIT CREDIT 4,100 ACCOUNT Inventory 2020 DATE ITEM Now 30 B POST REF DEBIT CREDIT ACCOUNT NO 110 BALANCE CREDIT 46 5.25 ACCOUNT Estimated Returns Inventory 2020 ITEM POST DATE REE DEBIT 30 Bal CREDIT ACCOUNT NO 112 BALANCE DERIT CREDIT 700 Ledger pg. 2 POST ACCOUNT Office Supplies 2020 DATE ITEM NO 30 Bal DEBIT CREDIT ACCOUNT NO 115 BALANCE DEBIT CREDIT 1235 ACCOUNT Prepaid Insurance 2020 ITEM POST DATE Now 30 l DEBIT CREDIT ACCOUNT NO 117 BALANCE DERT CREDIT ACCOUNT Equipment 2020 ITEM DATE Now 30 Bal POST REF DEBIT CREDIT ACCOUNT NO 120 BALANCE CREDIT 265.000 ACCOUNT Accumulated Depreciation - Equipment 2020 POST DATE ITEM REF DEBIT Now 30 Bal CREDIT ACCOUNT NO 121 BALANCE DET CREDIT 115.500 ACCOUNT Accounts Payable 2020 POST DATE ITEM Now 30 Bal DEBIT CREDIT REE ACCOUNT NO 201 BALANCE DERT CREDIT 3.433 Ledger Pg. 3 3 ACCOUNI Refunds Payable 2020 ITEM POST DATE Now 30 Bal DEBIT CREDIT ACCOUNT NO BALANCE DEBIT CREDIT ACCOUNT 2020 DATE Unearned Service Revenue ITEM POST REF DEBIT CREDIT ACCOUNT NO BALANCE DEBIT CREDIT 30 Ral ACCOUNT Jake Walters, Capital 2020 ITEM POST DATE REF 30 Bal DEBIT CREDIT ACCOUNT NO BALANCE CREDIT 262.643 ACCOUNT 2020 DATE Jake Walters, Withdrawal ITEM POST REF DEBIT CREDIT ACCOUNT NO FALANCE DEBIT CREDIT 112.000 30 na NOCOLINE 2020 DATE NO Service Revenue ITEM POST REF DEBIT CREDIT ACCOUNT NO 401 BALANCE CREDIT 167050 Ledger pg.4 05 ACCOUNT Sales Reven ITEM DATE 30 Bal POST REF ACCOUNT NO BALANCE DEBT DEBIT CREDIT ACCOUNT Sales Discounts Forfeited ITEM POST REF Bal DEBIT CREDIT ACCOUNT NO BALANCE CREC 2240 Il DATT Now NOCOUNT Cost of Merchandise Sold ITE POST DATE REF 30 Bal DEBIT CREDIT ACCOUNT NO 501 BALANCE CREDIT 145687 NOCOUNT Advertising Expense ITEM POST DATE REF New 30 l DERIT CREDIT ACCOUNT NO 500 BULANCE CONT 250 Ledger Pg. 5 ACOUNT 2020 DATE Now 30 Depreciation Essence POST REF ITIN DEBIT ADODUINTINO SOS BALANCE CREDIT CREDIT ACCOUNT 2020 Insurance Eurense POST MOODUNT NO FALANCE NEM DEBIT CREDIT DATE Now ACCOUNT NO BILANCE ACCOUNT Office Supplies Expense 20 ITEM POST DATE RFF Now 30 al DEBIT CREDIT 320 LOODUNT Salary Fun 2920 DATE ITEM Now 30 B POST REF DE BIT CREDIT ACCOUNT ND 509 BALANCE COM 3700 ACCOUNT Rent Eye ITEM DATE Now 30 Bal POST REF DEBIT CREDIT ACCOUNTINO BALANCE CREDIT POST MOODUNT Telephone 2920 DATE ITEM Now 30 B MOODUNT NO PALANG CREDIT DEBIT ORTOIT 4 The ACCOUNT Utilities Expense 2020 ITEM POST DATE REF Nov. 30 Da DEBIT CREDIT ACCOUNT NO 513 BALANCE DEBIT CREDIT 6,725 Ledger pg. 6 ACCOUNT Miscellaneous Expense 2020 ITEM POST DATE REF Nov 30 B DEBIT CREDIT ACCOUNT NO BALANCE DEBIT CREDIT 3,465 ACCOUNT 2020 DATE Income Summary ITEM POST DEBIT CREDIT ACCOUNT NO 919 BALANCE DET CREDIT Accounts Receivable Subsidiary Ledger ACCOUNT 2000 DATE Nathan Dan ITEM POST REE DEBIT CREDIT BALANCE CREDIT 2675 AR Sub Now 30 l ACCOUNT 2020 DATE RRR ITEM POST REF CREDIT BALANCE DERIT 30 na BALANCE ACRIME 2000 DATE 20 Rai ITEM POST PEE DEBIT CREDIT DEBT CREDIT LACSOUND 2000 DATE ITEM POST DEBIT CREDIT BALANCE DEBT CREDIT LASSUNT 2000 DATE ITEM POST REF DEBIT CREDIT BALANCE CREDIT Accounts Payable Subsidiary Ledger ACCOUNT Lowes 2020 DATE Nov 30 Bal ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT 756 AP Sub V ACCOUNT 2020 DATE Lock Supply Co ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT Nov 30 Bal 2.677 ACCOUNT 2020 DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT 2020 DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT 2020 DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT JWs Lock & Key Work Sheet Account Unad. Trial Balance Debit Credit Adjustments Debit Credit Adi. Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Equipment Accum. Depreciation - Equip Accounts Payable Refunds Payable Uneared Service Revenue Jake Walters, Capital Jake Walters Withdrawal Service Revenue Sales Revenue Sales Discounts Forfeited Cost of Merchandise Sold Advertising Expense Depreciation Expense Insurance Expense Office Supplies Expense Salary Expense Rent Expense Telephone Expense Utilities Expense Miscellaneous Expense TOTALS NET INCOME (LOSS) 0 0 0 0 0 0 0 0 0 0 0 0 Worksheet MO Set Final Statements JW's Lock & Key Post-Closing Trial Balance Account Debit Credit Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Refunds Payable Unearned Service Revenue Jake Walters, Capital Totals 0 0 Post closing trial balance store that sells everything from keys to safes. You have just been hired as the accountant as of December 1, 2020. Required 1. The general ledger contains the current balances for all accounts as of November 30, 2020. The subsidiary ledgers for AIR and AIP also contain the current balances as of November 30, 2020. Review the information in these accounts before beginning the project. Do NOT delete these balances. You need them to calculate the account balances and totals. 2. Joumalize the December transactions in the general journal. Descriptions are not required. Be sure that the account names used are the same as on the Chart of Accounts tab and the customer or vendor name are included in AR & AP transactions (ex: A/P - Brinks Co.). Also, be sure to indent credit entries and note the account numbers in the Post Reference column. 3. Post daily to the Accounts Receivable Subsidiary Ledger and the Accounts Payable Subsidiary Ledger. Place a checkmark in the Post Reference column of the General Ledger next to the GL account number, i.e. 201N. The checkmark denotes that you have posted to the Subsidiary Ledger account. On December 31, post to the General Ledger. 4. Prepare an Unadjusted Trial Balance, using the worksheet. Complete the worksheet using the following adjustment information for December: Office supplies on hand on December 31 are $1.427. A physical count of inventory showed an ending inventory cost of $44,500. Recorded depreciation on equipment for the month, $4,200. Insurance expired during December is $300. Earned $2.257 worth of the unearned service revenue. Sales refunds estimated for the year $10,000 Cost of estimated returns for the year $2,000 5. Journalize and post the ADJUSTING entries in the Gu, Ledger and subsidiary ledgers. 6. Journalize and post the CLOSING entries in the GJ, Ledger and subsidiary ledgers. 7 Prepare JW's Look & Key's financial statements for the year ended December 31, 2020. The breakouts on the Chart of Accounts may help categorizing and making sure all accounts are used on the financial statements. Additionally, please ensure to use the proper formatting indentation, underlines, $ signs, etc) Note: Jake Walter's Capital at December 1, 2020 was $262,643. 8. Prepare a Post-Closing Trial Balance Check Figures: Unadjusted Trial Balance: 912,736 Cash Account Balance: 169,077 Not Income (Loss): 204,815 9. Be sure that all entries, the worksheet, financial statements and the post-closing trial balance have been dated, LOL.. YU.yun keys to sates. You have just been hired as the accountant as of December 1, 2020 Required 1. The general ledger contains the current balances for all accounts as of November 30, 2020. The subsidiary ledgers for AVR and AJP also contain the current balances as of November 30, 2020. Review the information in these accounts before beginning the project. Do NOT delete these balances. You need them to calculate the account balances and totals. 2. Journalize the December transactions in the general joumal. Descriptions are not required. Be sure that the account names used are the same as on the Chart of Accounts tab and the customer or vendor name are included in AR & AP transactions (ex: AJP - Brinks Co.). Also, be sure to indent credit entries and note the account numbers in the Post Reference column. 3. Post daily to the Accounts Receivable Subsidiary Ledger and the Accounts Payable Subsidiary Ledger. Place a checkmark in the Post Reference column of the General Ledger next to the GL account number, i.e. 2011. The checkmark denotes that you have posted to the Subsidiary Ledger account. On December 31, post to the General Ledger. 4. Prepare an Unadjusted Trial Balance, using the worksheet. Complete the worksheet using the following adjustment information for December Office supplies on hand on December 31 are $1,427 A physical count of inventory showed an ending inventory cost of $44,500 Recorded depreciation on equipment for the month, $4,200. Insurance expired during December is $300. Earned $2.257 worth of the uneared service revenue. Sales refunds estimated for the year $10,000 Cost of estimated returns for the year $2,000 5. Journalize and post the ADJUSTING entries in the GJ, Ledger and subsidiary ledgers. 6. Journalize and post the CLOSING entries in the GJ, Ledger and subsidiary ledgers. 7. Prepare JW's Lock & Key's financial statements for the year ended December 31, 2020. The breakouts on the Chart of Accounts may help categorizing and making sure all accounts are used on the financial statements. Additionally, please ensure to use the proper formatting indentation, underlines, S signs, etc.) Note: Jake Walter's Capital at December 1, 2020 was $262,643. 8. Prepare a Post-Closing Trial Balance Check Figures: Unadjusted Trial Balance: 912,736 Cash Account Balance: 169,077 Net Income (Loss): 204,815 9. Be sure that all entries, the worksheet, financial statements and the post-closing trial balance have been dated store that sells everything from keys to sales. You have just been hired as the accountant as of December 1, 2020 Required 1. The general ledger contains the current balances for all accounts as of November 30, 2020. The subsidiary ledgers for AR and MP also contain the current balances as of November 30, 2020. Review the information in these accounts before beginning the project. Do NOT delete these balances You need them to calculate the account balances and als 2. Joumalize the December transactions in the general joumal. Descriptions are not required. Be sure that the account rames used are the same as on the Chart of Accounts and the customer or vendor name are included in AR & AP transactions (ex: A/P - Brinks Co). Also, be sure to indent credit entries and not the court rumbers in the Post Reference column Post daily to the Accounts Receivable Subsidiary Ledger and the Accounts Payable Sutekitary Ledger Place a checkmark in the Post Reference column of the General Ledger need to the GL account number, 201. The checkmark denotes that you have posted to the Subsidiary Ledger account. On December 31, post to the General Ledger 4. Prepare an Unadjusted Trial Balance, using the worksheet Complete the worksheet using the following adjustment information for December Office supplies on hand on December 31 are $1.427. A physical count of invertory showed an ending inventory cost of 544.500 Recorded depreciation on equipment for the month, 1.200 insurance expired during center a $300 Earned $2.237 worth of the named service revenue Sales retunde estimated for the year $10,000 Cost of estimated retums for the year 12.000 deumatice and post the ADJUSTING entries in the CJ, Ledger and subsidiary ledgers. aumatice and CLOSING in the Ledger and subsidy Hagers. Prepare J.Lock & Key's financial statements for the year ended December 31, 2000. The breakouts on the Chart of Accounts may help categoring and making sure al accounts are used on the financial statements. Additionally. pease ensure to use the proper formatting indentation, Note the Water's Cat December 1, 2000 a $262.643 Prepare a Pow-Chong Balance Check Figures Unadused Trail Balance 912.736 Cash Account balance 60.077 Net income Los 200815 9. Be sure that all entries, the worksheel, financial statements and the post-closing balance have been dated Ws Lock & Key had the following transactions in December Transactions Dec. 1 Paid December's rent, check #6287. $2.650. 2 Paid annual premiums on property and casualty insurance policies. Check #6288, $1.925. 3 Performed locksmith services on new house, sent invoice #601 to the homeowner, Sam Mason, $2,700 4 Issued Invoice # 602 to Hastings who purchased a new safe on account. $3.500. Cost of Merchandise Sold was $1.250 5 Purchased office supplies, check # 6289, 3620 6 Purchased inventory from Key Supplies Co. $5.500 terms 1/10, 1/30 7 Paid UPS 5276 cash for delivery of the inventory purchased on December 6. 7 Jake deposited an additional $9.500 cash in the business. 8 Returned damaged inventory to Key Supplies Co. 5500 8 Received $2,500 cash, an advance payment for locksmith services. 9 Unlocked a safe for a customer and received $1,000 cash 9 Bought a new computer (equipment) from Office Depot on account. $1.824. 10 Sold 2 sales and received cash 2.200. Cost of Merchandise Sold was $800 11 Purchased 5 sales to restock inventory on account from Brinks Co, 54,458 terms, 25, 1:45. 12 Customer returned one of the safes purchased on December 10, refunded the customer $1.200 cash. Cost of Merchandise Sold was 5475 13 Paid Verizon for wireless telephone services $394, check #6290. 14 Paid Key Supplies Co for the purchase on December 6, less return and discount, check #6291. 14 Received cash on account, $1,500, From Nathan Dean. Dean did not pay his November invoice 1590 within the credit torms 2/10. The discount was forfeited. 15 Recorded cash sales for the store from the 1st to the 15th. $14,113. Cost of Merchandise Soid was $4.783. 16 Received $1,900 from Hastings on account. 17 Paid Office Depot on account, $500. check # 6292. 18 Performed locksmith services on account for Larry Contractor, 5700 19 Paid electrichy bill for December, check 6293, S1,492. 19 Paid for Domino's pizza delivery for the December office party, check 16294,5175 20 Jake withdrew $8,500 for a vacation 25 Paid the water bill for December, check #6295. $120. 25 Paid Brinks Co. on account. $2,500, check # 6296 26 Paid part time employees their salary, 52,700 27 Received cash on account from Larry Contractor, 5700 30 Recorded cash sales for the store from the 16th to the 30th, $8,735. Cost of Merchandise Sold was $2.784 he adjustment data for December is as follows: Office supplies on hand on December 31 are $1,427 b. A physical count of Inventory showed an ending inventory cost of $44.500 Recorded depreciation on equipment for the month, 54,200. Insurance expired during December is $300. Earned $2.257 worth of the uneamed service revenue 1. Sales refunds estimated for the year $10,000 g Cost of estimated returns for the year $2.000 JW's Lock & Key Chart of Accounts Liabilities 201 Accounts Payable 203 Refunds Payable 205 Uneared Service Revenue Assets 101 Cash 105 Accounts Receivable 110 Inventory 112 Estimated Returns Inventory 115 Office Supplies 117 Prepaid Insurance 120 Equipment 121 Accum. Depreciation - Equipment Owner's Equity 301 Jake Walters, Capital 311 Jake Walters, Withdrawal Revenues 401 Service Revenue 405 Sales Revenue 410 Sales Discounts Forfeited Expenses 501 Cost of Merchandise Sold 502 Advertising Expense 505 Depreciation Expense 507 Insurance Expense 508 Office Supplies Expense 509 Salary Expense 511 Rent Expense 512 Telephone Expense 513 Utilities Expense 525 Miscellaneous Expense Other Misc. 999 Income Summary Chart of Accounts ACCOUNT Cash 2020 ITEM DATE Now 30 B DEBIT CREDIT POST REF 11 ACCOUNT NO 101 BALANCE DET CREDIT 154.901 Ledger pg. 1 ACCOUNT Accounts Receivable POST REF NOW 30 B ITEM DEBIT CREDIT DATE ACCOUNT NO 105 BALANCE DEBIT CREDIT 4,100 ACCOUNT Inventory 2020 DATE ITEM Now 30 B POST REF DEBIT CREDIT ACCOUNT NO 110 BALANCE CREDIT 46 5.25 ACCOUNT Estimated Returns Inventory 2020 ITEM POST DATE REE DEBIT 30 Bal CREDIT ACCOUNT NO 112 BALANCE DERIT CREDIT 700 Ledger pg. 2 POST ACCOUNT Office Supplies 2020 DATE ITEM NO 30 Bal DEBIT CREDIT ACCOUNT NO 115 BALANCE DEBIT CREDIT 1235 ACCOUNT Prepaid Insurance 2020 ITEM POST DATE Now 30 l DEBIT CREDIT ACCOUNT NO 117 BALANCE DERT CREDIT ACCOUNT Equipment 2020 ITEM DATE Now 30 Bal POST REF DEBIT CREDIT ACCOUNT NO 120 BALANCE CREDIT 265.000 ACCOUNT Accumulated Depreciation - Equipment 2020 POST DATE ITEM REF DEBIT Now 30 Bal CREDIT ACCOUNT NO 121 BALANCE DET CREDIT 115.500 ACCOUNT Accounts Payable 2020 POST DATE ITEM Now 30 Bal DEBIT CREDIT REE ACCOUNT NO 201 BALANCE DERT CREDIT 3.433 Ledger Pg. 3 3 ACCOUNI Refunds Payable 2020 ITEM POST DATE Now 30 Bal DEBIT CREDIT ACCOUNT NO BALANCE DEBIT CREDIT ACCOUNT 2020 DATE Unearned Service Revenue ITEM POST REF DEBIT CREDIT ACCOUNT NO BALANCE DEBIT CREDIT 30 Ral ACCOUNT Jake Walters, Capital 2020 ITEM POST DATE REF 30 Bal DEBIT CREDIT ACCOUNT NO BALANCE CREDIT 262.643 ACCOUNT 2020 DATE Jake Walters, Withdrawal ITEM POST REF DEBIT CREDIT ACCOUNT NO FALANCE DEBIT CREDIT 112.000 30 na NOCOLINE 2020 DATE NO Service Revenue ITEM POST REF DEBIT CREDIT ACCOUNT NO 401 BALANCE CREDIT 167050 Ledger pg.4 05 ACCOUNT Sales Reven ITEM DATE 30 Bal POST REF ACCOUNT NO BALANCE DEBT DEBIT CREDIT ACCOUNT Sales Discounts Forfeited ITEM POST REF Bal DEBIT CREDIT ACCOUNT NO BALANCE CREC 2240 Il DATT Now NOCOUNT Cost of Merchandise Sold ITE POST DATE REF 30 Bal DEBIT CREDIT ACCOUNT NO 501 BALANCE CREDIT 145687 NOCOUNT Advertising Expense ITEM POST DATE REF New 30 l DERIT CREDIT ACCOUNT NO 500 BULANCE CONT 250 Ledger Pg. 5 ACOUNT 2020 DATE Now 30 Depreciation Essence POST REF ITIN DEBIT ADODUINTINO SOS BALANCE CREDIT CREDIT ACCOUNT 2020 Insurance Eurense POST MOODUNT NO FALANCE NEM DEBIT CREDIT DATE Now ACCOUNT NO BILANCE ACCOUNT Office Supplies Expense 20 ITEM POST DATE RFF Now 30 al DEBIT CREDIT 320 LOODUNT Salary Fun 2920 DATE ITEM Now 30 B POST REF DE BIT CREDIT ACCOUNT ND 509 BALANCE COM 3700 ACCOUNT Rent Eye ITEM DATE Now 30 Bal POST REF DEBIT CREDIT ACCOUNTINO BALANCE CREDIT POST MOODUNT Telephone 2920 DATE ITEM Now 30 B MOODUNT NO PALANG CREDIT DEBIT ORTOIT 4 The ACCOUNT Utilities Expense 2020 ITEM POST DATE REF Nov. 30 Da DEBIT CREDIT ACCOUNT NO 513 BALANCE DEBIT CREDIT 6,725 Ledger pg. 6 ACCOUNT Miscellaneous Expense 2020 ITEM POST DATE REF Nov 30 B DEBIT CREDIT ACCOUNT NO BALANCE DEBIT CREDIT 3,465 ACCOUNT 2020 DATE Income Summary ITEM POST DEBIT CREDIT ACCOUNT NO 919 BALANCE DET CREDIT Accounts Receivable Subsidiary Ledger ACCOUNT 2000 DATE Nathan Dan ITEM POST REE DEBIT CREDIT BALANCE CREDIT 2675 AR Sub Now 30 l ACCOUNT 2020 DATE RRR ITEM POST REF CREDIT BALANCE DERIT 30 na BALANCE ACRIME 2000 DATE 20 Rai ITEM POST PEE DEBIT CREDIT DEBT CREDIT LACSOUND 2000 DATE ITEM POST DEBIT CREDIT BALANCE DEBT CREDIT LASSUNT 2000 DATE ITEM POST REF DEBIT CREDIT BALANCE CREDIT Accounts Payable Subsidiary Ledger ACCOUNT Lowes 2020 DATE Nov 30 Bal ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT 756 AP Sub V ACCOUNT 2020 DATE Lock Supply Co ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT Nov 30 Bal 2.677 ACCOUNT 2020 DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT 2020 DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT 2020 DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT JWs Lock & Key Work Sheet Account Unad. Trial Balance Debit Credit Adjustments Debit Credit Adi. Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Equipment Accum. Depreciation - Equip Accounts Payable Refunds Payable Uneared Service Revenue Jake Walters, Capital Jake Walters Withdrawal Service Revenue Sales Revenue Sales Discounts Forfeited Cost of Merchandise Sold Advertising Expense Depreciation Expense Insurance Expense Office Supplies Expense Salary Expense Rent Expense Telephone Expense Utilities Expense Miscellaneous Expense TOTALS NET INCOME (LOSS) 0 0 0 0 0 0 0 0 0 0 0 0 Worksheet MO Set Final Statements JW's Lock & Key Post-Closing Trial Balance Account Debit Credit Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Refunds Payable Unearned Service Revenue Jake Walters, Capital Totals 0 0 Post closing trial balance store that sells everything from keys to safes. You have just been hired as the accountant as of December 1, 2020. Required 1. The general ledger contains the current balances for all accounts as of November 30, 2020. The subsidiary ledgers for AIR and AIP also contain the current balances as of November 30, 2020. Review the information in these accounts before beginning the project. Do NOT delete these balances. You need them to calculate the account balances and totals. 2. Joumalize the December transactions in the general journal. Descriptions are not required. Be sure that the account names used are the same as on the Chart of Accounts tab and the customer or vendor name are included in AR & AP transactions (ex: A/P - Brinks Co.). Also, be sure to indent credit entries and note the account numbers in the Post Reference column. 3. Post daily to the Accounts Receivable Subsidiary Ledger and the Accounts Payable Subsidiary Ledger. Place a checkmark in the Post Reference column of the General Ledger next to the GL account number, i.e. 201N. The checkmark denotes that you have posted to the Subsidiary Ledger account. On December 31, post to the General Ledger. 4. Prepare an Unadjusted Trial Balance, using the worksheet. Complete the worksheet using the following adjustment information for December: Office supplies on hand on December 31 are $1.427. A physical count of inventory showed an ending inventory cost of $44,500. Recorded depreciation on equipment for the month, $4,200. Insurance expired during December is $300. Earned $2.257 worth of the unearned service revenue. Sales refunds estimated for the year $10,000 Cost of estimated returns for the year $2,000 5. Journalize and post the ADJUSTING entries in the Gu, Ledger and subsidiary ledgers. 6. Journalize and post the CLOSING entries in the GJ, Ledger and subsidiary ledgers. 7 Prepare JW's Look & Key's financial statements for the year ended December 31, 2020. The breakouts on the Chart of Accounts may help categorizing and making sure all accounts are used on the financial statements. Additionally, please ensure to use the proper formatting indentation, underlines, $ signs, etc) Note: Jake Walter's Capital at December 1, 2020 was $262,643. 8. Prepare a Post-Closing Trial Balance Check Figures: Unadjusted Trial Balance: 912,736 Cash Account Balance: 169,077 Not Income (Loss): 204,815 9. Be sure that all entries, the worksheet, financial statements and the post-closing trial balance have been dated, LOL.. YU.yun keys to sates. You have just been hired as the accountant as of December 1, 2020 Required 1. The general ledger contains the current balances for all accounts as of November 30, 2020. The subsidiary ledgers for AVR and AJP also contain the current balances as of November 30, 2020. Review the information in these accounts before beginning the project. Do NOT delete these balances. You need them to calculate the account balances and totals. 2. Journalize the December transactions in the general joumal. Descriptions are not required. Be sure that the account names used are the same as on the Chart of Accounts tab and the customer or vendor name are included in AR & AP transactions (ex: AJP - Brinks Co.). Also, be sure to indent credit entries and note the account numbers in the Post Reference column. 3. Post daily to the Accounts Receivable Subsidiary Ledger and the Accounts Payable Subsidiary Ledger. Place a checkmark in the Post Reference column of the General Ledger next to the GL account number, i.e. 2011. The checkmark denotes that you have posted to the Subsidiary Ledger account. On December 31, post to the General Ledger. 4. Prepare an Unadjusted Trial Balance, using the worksheet. Complete the worksheet using the following adjustment information for December Office supplies on hand on December 31 are $1,427 A physical count of inventory showed an ending inventory cost of $44,500 Recorded depreciation on equipment for the month, $4,200. Insurance expired during December is $300. Earned $2.257 worth of the uneared service revenue. Sales refunds estimated for the year $10,000 Cost of estimated returns for the year $2,000 5. Journalize and post the ADJUSTING entries in the GJ, Ledger and subsidiary ledgers. 6. Journalize and post the CLOSING entries in the GJ, Ledger and subsidiary ledgers. 7. Prepare JW's Lock & Key's financial statements for the year ended December 31, 2020. The breakouts on the Chart of Accounts may help categorizing and making sure all accounts are used on the financial statements. Additionally, please ensure to use the proper formatting indentation, underlines, S signs, etc.) Note: Jake Walter's Capital at December 1, 2020 was $262,643. 8. Prepare a Post-Closing Trial Balance Check Figures: Unadjusted Trial Balance: 912,736 Cash Account Balance: 169,077 Net Income (Loss): 204,815 9. Be sure that all entries, the worksheet, financial statements and the post-closing trial balance have been dated