On December 1 of the current year, the general ledger of Mossland Company, which was 1 incoporated this year, includes the following account balances 2 Credit Debit 22,600 6,000 3,900 58,000 3 4 5 6 7 8 9 10 11 12 Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Dividends Totals 4,000 88,500 2.000 92,500 92,500 1) During December, the following transactions occur, analyze each on the analysis tab. 13 14 December 1 Purchased equipment for $20,000 by signing a five year note payable. 15 December 2 Purchase rental space for one year in advance. $8,400 ($700/month), 16 December 9 Purchase additional supplies on account. $4,300 17 December 13 Provide services to customers on account, $26,300 December 17 Receive cash in advance from customers for services to be provided in the 18 future, $4,500 19 December 20 Pay cash for salaries, $12,300. 20 December 22 Receive cash on accounts receivable, $24,900 21 December 29 Pay cash on accounts payable, $4,800. 22 2) At the end of December, the following information was supplled to you. Analyze the 23 transactions on the analysis tab. 24 25 December 31 Rent for the month of December has expired. 26 December 31 Supplies remaining on hand at the end of the month totaled $2,400 27 December 31 By the end of December, 15% of the deferred revenue has been earned 28 December 31 Salaries earned but not yet paid as of the end of the month totalled $1,030. 29 December 31 Annual depreciation on the equipments $1,200 December 31 The interest rate on the December State is 12%. The annual interest totals 30 $2,400 31 323) Post all transactions to the ledger on the ledger tab. 33 4) Created an adjusted trial balance. 34 5) Create the financial statements. 356) Record the closing entries on the closing entries tab (do not post to the ledger) 36 37 38 39 40 41 42 43 D Instructions A Analysis Ledger Trial Balance Fir Peste B9 XFx 4300 M H A . G Incement Journal Cashflow Bath DA CA Account IN N A 2 De 1271723 000 DE 2000 1,400 BI 100 1 4300 10 11 IT IT 76,00 1 1 1 1 100 13 20 17 4.500 IT 120022 132,00 2322720 2000 0400 1322 2001 1 12 20 23 22 21 24 * 23 M 27 27 2 29 30 31 14.00 I I E I DI 1 1 | 1000 112 200 HE 01.01 2001 33 525 7 11 2010 1 1 1 37 1030 39 TE 1300 boti 07 17 2 LETET 000 45 1.300 10.745 Instructions Ledger Trial Balance Financial Statements Closing Entries + Ready Ed BAN - 96 2 3 6 & 7 8 Q W E R T Y S D F G H J N C V B N 98 LL lili 11 ili 17 A 13 = Paste BIU V E47 A . D Prerade Supplies 1 Canh Accounts Recea Accounts Payable Land laulament Accumulated Deportion Salates Patie Deferred Revenu Notes Ravabile Interest Pay 12 13 14 15 16 17 20 19 20 21 22 23 24 25 26 27 20 29 30 31 32 33 Common Stock Retained in Dividends Service Sarape Betwee Depreciation Lapte et pe 35 36 37 39 40 41 Svies op Instructions Analysis Ledger Trial Balance Financial Statements Closing Ready esc 20 F2 888 Fa
