Principles of Accounting I Comprehensive Problem 1. Journalize the following December transactions. (pages 2-3) -Dec. 2 Received $180 as advance payments on storage rental. 5 Paid accounts payable of $720. -Dec. 6 Paid insurance premiums of $8,100 in advance. Deposited $8,700 from completed moving jobs. Purchased $1,560 of moving supplies on credit. Acquired additional truck worth $56,000 by paying $6,000 cash and signing a long-term note payable for the balance Paid wages of $2,700 for the period Dec. 1-14. Dec. 7 Dec. 10 _ Dec. 12 _ Dec. 14 -Dec. 17Purchased $130 of office supplies on credit. -Dec. 21 Deposited $6,260 from completed moving jobs and $1,600 of storage revenue receipts. -Dec. 24 Paid $860 for repairs to truck for damages sustained in an accident. -Dec. 28 Paid wages of $2,850 for the period December 15-28. -Dec. 30 Paid $900 to a magazine for advertisements that appeared in December. - Dec. 30George Sanders (owner) withdrew $1,600 cash for personal use Dec. 31 Deposited $4,700 from completed moving jobs and $800 of storage revenue receipts 2. Post the above December transactions. (pages 5-10) Prepare a trial balance. (page 11) Journalize the following adjusting entries. (pages 2-3) 4. a. Unpaid wages were $610 as of December 31. b The December 31 office supplies inventory was $180. c. The moving supplies inventory was $4,530 on December 31 d. The unexpired portion of the prepaid insurance was $9,475 as of December 31 e. Depreciation for the year on the trucks was $50,350. f. Depreciation for the year on the building was $7.400. g. Unearned storage revenue balance at December 31 was $650. h. Interest expense on the notes payable was $24,700. 5. Post the adjusting entries. (pages 5-10) 6. Prepare an adjusted trial balance. (page 12) 7. Prepare an income statement. (page 13) 8. Prepare a statement of changes in owner's equity. (page 13) 9. Prepare a balance sheet. (page 14) 10. Journalize the closing entries. (pages 2-3) 11. Post the closing entries. (pages 5-10) 12. Prepare a post-closing trial balance. (page 15) Check figures: Unadjusted trial balance Adjusted trial balance Net Income 798,935 881,995 30,050