On December 1, Gary Williamson began an auto repair shop, Williamson's Quality Automotive. The following transactions The business uses the following accounts: occurred during December (Click the icon to view the accounts.) (Click the icon to view the transactions.) Adjustment data: (Click the icon to view the adjusting data Read the requirements Requirement 1. Prepare the journal entries, and post to the T-accounts Begin by preparing the journal entries for the December transactions. (Record debits first, then credits. Select the explanation on the last line of the joumal entry tablo) Dec. 1: Williamson contributed $45,000 cash to the business in exchange for capital Date Accounts and Explanation Debit Credit Dec 1 Dec 1: Purchased $10,800 of equipment paying cash Date Accounts and Explanation Debit Credit Dec 1 Choose from any list or enter any number in the input fields and then continue to the next question 3 of 3 (1 complete) Williamson's Quality Automotive. The following transactions The business uses the following accounts: More Info Dec 1 T-accounts. nsactions. (Reco es in exchange to 1. tion Williamson contributed $45,000 cash to the business in exchange for capital 1 Purchased $10,800 of equipment paying cash. 1 Paid $2,500 for a five-month insurance policy starting on December 9 Paid $18,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $2,200 19 Borrowed $15,000 from the bank for business use. Williamson signed a note payable to the bank in the name of the business. The note is due in five years. 22 Paid $1,900 for advertising expenses. 26 Paid $1,100 on account. 28 The business received a bill for utilities to be paid in January, $200. Revenues earned during the month included $18,500 cash and $2,900 on account Pald employees' salaries $3,800 and building rent $1,100. Record as a compound entry The business received $1,400 for auto screening services to be performed next month. Williamson withdrew cash of $5,000. 31 31 sation 31 31 Print Done it fields and then continue to the next question Search or tyne URI began an auto repair shop, Williamson's Quality Automotive. The following transactions The business uses the following accounts: (Click the icon to view the accounts) nsaction) Adjustment data: A (Click the icon to view the adjusting data) Read the requirements al entries, and post to the T-accounts les for the D- 000 cash More Info 1 More Info Accounts a. Office Supplies used during the month, $600. b. Depreciation for the month. $180. c. One month insurance has expired. d. Accrued Interest Expense, $130 Cash; Accounts Receivable: Office SuppliesPrepaid Insurance, Equipment; Accumulated Depreciation Equipment, Land, Accounts Payable; Utilities Payable: Interest Payable: Uneared Revenue; Notes Payable: Williamson, Capital; Williamson Withdrawals, Income Summary, Service Revenue: Salaries Expense; Rent Expense; Utilities Expense: Advertising Expense; Supplies Expense: Insurance Expense; Interest Expense and Depreciation Expense Equipment ment payi Print Done scounts and Explanation Debil Credit Print Done amber in the input fields and then continue to the next question. On December 1. Gary Williamson began an auto repair shop, Williamson's Quality Automotive. The following transactions The business uses the following accounts occurred during December (Click the icon to view the account) (click the icon to view the transactions) Adjustment data: Click the icon to view the adjusting data. Read the requirements Post the transactions to the T-accounts. Use the transaction dates as posting references. If posting more than one entry on the same date to a single account, post to that account in posting reference to show the ending balance of each account. For any accounts with a zero balance, select the "Bal" posting reference and enter a "von the normal side of the ac Cash Accounts Payable Service Revenue Utilities Payable Salaries Expense Accounts Receivable Interest Payable Rent Expense Choose from any list or enter any number in the input fields and then continue to the next question occurred during December (Click the icon to view the transactions.) Requirement 2. Prepare an unadjusted trial balance. (Exclude any accounts with a zero balance Williamson's Quality Automotive Unadjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Choose from any list or enter any number in the input fields and then continue to the next questic Of 3 (1 complete) This Question: 1 pt On December 1, Gary Wiliamson began an auto repair shop, Williamson's Quality Automotive. The following transactions The business use occurred during December (Click the log (Click the icon to view the transactions) Adjustment data: Click the ico Read the require Total Requirement 3. Prepare the adjusting entries and post to the T-accounts. Begin by preparing the adjusting entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Office Supplies used during the month, $600. Date Accounts and Explanation Debit Credit Dec 31 Adj. (a) b. Depreciation for the month, $180. Date Accounts and Explanation Debit Credit Dec 31 Adj. (b) Requirement 5. Complete the worksheet for the month ended December 31, 2016. Williamson's Quality Automotive Worksheet (Partial) December 31, 2016 Adjusted Income Trial Balance Statement Account Title Debit Credit Debit Credit Balance Sheet Debit Credit Cash Accounts Receivable Office Supplies Propaid Insurance Equipment Accumulated Dept.--Equip Land Accounts Payable Utilities Payable Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 6. Prepare the income statement, the statement of owner's equity, and the unclassified balance sheet in account form Begin by preparing the income statement. (If a box is not used in the statement, leave the box empty, do not select a label or enter a zero) Williamson's Quality Automotive Income Statement Month Ended December 31, 2016 Choose from any list or enter any number in the input fields and then continue to the next question Duratwy Warner Brons where were the flowing action The heat uit de Prowheatment of were way incre in capital per tott and any decret to capito telow the me, wwwwwwww We Automotive tament Owner's Month Ended December 11, 2015 Williamson CD 2016 Prepare the classified balance sheet in report form of December 31, 2016. Begin by preparing the section of the balance sheet and the prepare the latest in dat the bumply no label or enters Parthened the report forms of 31, 2016. Begin by preparing the of the balance sheet and prepare the sandaler Wia's Dully Automotive Baah December 31, 2018 Assets Choose from any sorterary number in the input fields and then continue to the question Requirement 7. Prepare the closing entries and post to the T-accounts. Begin by preparing the closing entries (Record debito first, then credito. Select the explanation on the last Nine of the journal entry table.) Start by closing revenues Accounts and Explanation Debit Date Credit Dec 31 Clos (1) Close expenses for the period Date Accounts and Explanation Debit Credit Dec 31 Clos (2) Choose from any list or enter any number in the input fields and then continue to the next question Ost Gary Who was alty Autonet. The town on the bar Read more out the ing to the First and the balance schrome Then and the new year her stay in tours and then calle tre poing to halfwachting down For income uma criate and the balance before powing they took one year second and than the theorghen the state of the Cash Accounts Payable Benice Raven Us Payable Salaries AC Receivable Interest Payable Rent Expen Expense Om Supplies Unearned Revenue Choose from any list or enter any number in the inputs and then to the question Requirement 8. Prepare a post-closing trial balance. Williamson's Quality Automotivo Post-Closing Trial Balance December 31, 2016 Balance Account Title Debit Credit Choose from any list or enter any number in the input fields and then continue to the next