On December 1, Gary Wonder began an auto repair shop. Wonder's Quality Automotive. The following transactions occurred during December 1. (Click the icon to viaw the transactions.) 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 jou Dec 1 Wonder contributed $64,000 cash to the business in exchange for shares of common stock Dec. 1: Purchased $13,200 of equipment paying cash Dec 1. Paid $5,850 for a 9 month insurance policy starting on December 1 . - More info to the T-accounts. ber transactions. (Record More info ness in exchange for shar a. Office Supplies used during the month, $1,000. b. Depreciation for the month, $220. c. One month insurance has expired. d. Accrued Interest Expense, $100. Dec 10. Pirctiased officn supplins on account. 53.100 Oec. 14. Boneed 53000 toes the than for busines use DyC. 22 Paid 82.050 far atrerting expenses Tost the transactions to the T-accounts. Use the transaction dates as posting relerences. If posting mote than one entry on the same date to a single account. post to that account in nding balance of each account. For any accounts with a zeto balance, select the "Bal" posting reference and enter a 0 " on the nomal side of the account Requlrement 2. Prepare an unadiusted thal balance, (Exclude any accounts eith a zero balance froro the trial balance) Depreciation Expense-Equipmest Requirement 4. Prepare an adusted trial balance Requirement 5 . Complete the worlsheet for the monch ended Dexember 31,2024 Wonder's Quality Automotive Worksheet (Partial) Aequirenest 6. Prepae the income atalement, the varement of relahed earnings, and the classified batance sheet in report loem Net incoese (Loss) Wooder's Quality Automotive Stoiement of Retained Eamings Monts Eaded Oecember3, 2024 Retained Earrings, December 1.2024: Fitained Earnings, December 31,2024 Wooders Quality Autoniotive Balance 5 hen Oecember 31, royt Assels On December 1, Gary Wonder began an auto repair shop. Wonder's Quality Automotive. The following transactions occurred during December 1. (Click the icon to viaw the transactions.) 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 jou Dec 1 Wonder contributed $64,000 cash to the business in exchange for shares of common stock Dec. 1: Purchased $13,200 of equipment paying cash Dec 1. Paid $5,850 for a 9 month insurance policy starting on December 1 . - More info to the T-accounts. ber transactions. (Record More info ness in exchange for shar a. Office Supplies used during the month, $1,000. b. Depreciation for the month, $220. c. One month insurance has expired. d. Accrued Interest Expense, $100. Dec 10. Pirctiased officn supplins on account. 53.100 Oec. 14. Boneed 53000 toes the than for busines use DyC. 22 Paid 82.050 far atrerting expenses Tost the transactions to the T-accounts. Use the transaction dates as posting relerences. If posting mote than one entry on the same date to a single account. post to that account in nding balance of each account. For any accounts with a zeto balance, select the "Bal" posting reference and enter a 0 " on the nomal side of the account Requlrement 2. Prepare an unadiusted thal balance, (Exclude any accounts eith a zero balance froro the trial balance) Depreciation Expense-Equipmest Requirement 4. Prepare an adusted trial balance Requirement 5 . Complete the worlsheet for the monch ended Dexember 31,2024 Wonder's Quality Automotive Worksheet (Partial) Aequirenest 6. Prepae the income atalement, the varement of relahed earnings, and the classified batance sheet in report loem Net incoese (Loss) Wooder's Quality Automotive Stoiement of Retained Eamings Monts Eaded Oecember3, 2024 Retained Earrings, December 1.2024: Fitained Earnings, December 31,2024 Wooders Quality Autoniotive Balance 5 hen Oecember 31, royt Assels
