Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel Required: #1. Template.xlsx". Use the following accounts as appropriate: Cash, Accounts Receivable Supplies, Prepaid Insurance, Equipment Accumulated Depreciation Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense. 1-Dec Began business by depositing $7000 in a bank account in the name of the company in exchange for 700 shares of $10 per share common stock. 1-Dec Paid the rent for the current month, $1100. 1-Dec Paid the premium on a one-year insurance policy. $960 1-Dec Purchased Equipment for $3600 cash. 5-Dec Purchased office supplies from XYZ Company on account $300. 15-Dec Provided services to customers for $7800 cash. 16-Dec Provided service to customers ABC Inc. on account, $6100 21-Dec Received $2700 cash from ABC Inc., customer on account. 23-Dec Paid $170 to XYZ company for supplies purchased on account on December 5. 28-Dec Paid wages for the period December 1 through December 28, $4200 30-Dec Declared and paid dividend to stockholders $200 M2. Post all of the December transactions from the "General Journal" tab to the T-accounts under the "T-Accounts" tab in the excel template file "Accounting Cycle Excel Template.xlsx". Assume there are no beginning balances in any of the accounts. 13. Compute the balance for each T-account after all of the entries have been posted. These are the unadjusted balance as of December 31. Prepare the unadjusted trial balance under the "Unadjusted Trial Balance" tab in the excel template file "Accounting Cycle Excel Template.xlsx". Provide the total of the credit column from the Unadjusted Trial N4 Balance #5. Record the following four transactions as adjusting entries under the "General Journal" tab. 31-Dec One month's insurance has been used by the company $80. 31-Dec The remaining inventory of unused office supplies is 590. 31-Dec The estimated depreciation on equipment is $60. 31-Dec Wages incurred from December 29 to December 31 but not yet paid or recorded total $450 16. Post all of the adjusting entries to the T-accounts under the "T-Accounts" tab. Compute the balance for each T-account after all of the adjusting entries have been posted. These are the adjusted balance as of December 31. Prepare the adjusted trial balance under the "Adjusted Trial Balance" tab as of December 31 in the excel template file "Accounting Cycle Excel 17. Template.xlsx". Provide the following accounts balances from the Adjusted Trial Balance: Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings 18. Prepare Income Statement, Statement of Stockholder's Equity, and Classified Balance Sheet under the "Financial Statements" tab for the month ended December 31, 20xx in the excel template file Accounting Cycle Excel Template.xlsx". Provide the following amount from the Income Statement: Service Revenue Depreciation Expense Wages Expense Supplies Expense Rent Expense Insurance Expense Net Income Provide the following account balance from the Statement of Stockholders' Equity: Dividends Provide the following account balances from the Balance Sheet: Current Assets Long-Term Assets Total Liabilities Total Stockholder's Equity Cash 9. Record the closing entries under the "General Journal tab. #10 Post all of the closing entries to the T-accounts under the "T-Accounts" tab. Compute the balance for each T-account after all of the dosing "entries have been posted. Check Point: Total Assets $ 15,180.00
