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Please help with my accounting class - preparation of financial statements: A. Preparation of financial statements: NTT Corporation had the following transactions during the month

Please help with my accounting class - preparation of financial statements:

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A. Preparation of financial statements: NTT Corporation had the following transactions during the month of December, 2019 Dec. 1 Owner's investments: Invested $300,000 in the business, in exchange for 30,000 shares of $10 par value common stock. 1 Paid $2,800 cash on one-year insurance policy effective Dec 1. 3 Purchase of assets with cash: Purchased a lot for $50,000 and a small building on the lot for $80,000. 4 Purchase a used truck for 9,000 for cash 5 Purchase of assets by incurring a liability: Purchased office supplies for $5,000 on credit from Thing Long Company. 5 Payment of a liability: Paid $2,800 owed on supplies. 7 Revenues: Earned and received service revenue of $5,000 in cash. 10 Revenues: Earned $9,000 in service revenue to be received at a later date. 15 Collection of accounts receivable: Received $4,000 from client for revenue earned earlier in the month. 20 Expenses: Paid $2,200 to rent equipment for office. We do not owned the equipment. 25 Paid $1,750 in wages to part-time helper. 28 Recorded utilities expense of $1,000 incurred in December but not yet paid. 30 Declared a $3,000 dividend. The company acknowledged that they owed the shareholders Requirements: 50pts a. Record each transaction for the company for Dec 2019. b. Prepare the following adjusted journal entries: 1. Depreciation for the truck know that the useful life is 9 years with no residual value. The company using straightling method. 2. One-twelfth of the insurance expired. 3. Accrued but unpaid wages for part-time helper was $250 4. Supplies counted for $200 at the end of the month 5. At the end of the month, the company performed services for customer A for $3,000. This amount was not recorded as no payment received. 6. The company used direct write-off method for their bad debt. A customer went bankrupt and unable to pay for $1,000 service performed on Dec 28. c. Prepare trial balance, adjust trial balance and three financial statements. (income statement, statement of OE & balance sheet)

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