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please help. I need to prepare an unadjusted trial balance at January 1, zuIz Liabilities ssets Cash Accounts Receivable Supplies $2.075 Accounts Payable 1,710 1,300
please help. I need to prepare an unadjusted trial balance
at January 1, zuIz Liabilities ssets Cash Accounts Receivable Supplies $2.075 Accounts Payable 1,710 1,300 Stockholders' Equity 1,100 Contributed Capital $2,000 765 Retained Earnings Total Assets $4,475 Total Liabilities & Stk. Equity $4,475 January Transactions for Francine's Fast Deliveries, Inc. (FFD) Date 1 Owners invest $34,000 of additional cash in the business. 2a Supplies are purchased for $1,400 on account 2b Insurance is paid for 12 months beginning January 1 $8,940 (Record as an asset) 2c Rent is paid for 3 months beginning in January: $5,100 (Record as an asset) 2d Two employees are hired. Each employee will be paid $1.990 per month 3 FFD borrows $38,000 from 1st State Bank at 6% annual interest. A delivery van is purchased for cash. Including tax the total cost was $67,200. It 6 will be used for 4 years and will be depreciated monthly using straight-line with no salvage value. A full month of depreciation will be charged in January 7 $910 of the receivables from December's sales are collected. 8 $1.368 of the accounts payable from December are paid. 9 Performed services for customers on account Mailed invoices totaling $11600 10 Services are performed for cash customers: $8,120 16 Wages for the first half of the month are paid on January 16: $1,990 20 The company receives $4,700 from a customer for an advance order for services to be provided in January and February 25 Collections from customers on account (see January 9 transaction): $4.640 30a The last 2 weeks wages earned by employees are $995 per employee and wil d be paid on February 3 30b A $1.265 utility bill for January arrived It is due on February 15 Additional Information for adjusting entries at January 31 Supplies on hand on January 31 total $500 The company completed 60% of the deliveries for the customer who paid in advance b. on January 20 c. Interest is accrued for the bank loan. (Assume a full month for the 15t State Bank loan) e. Adjust the prepaid asset (Rent and Insurance) accounts as neede e Ascon t henurer) did asse ent an insurance, accounts as neededStep by Step Solution
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