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Question 1 ( 2 0 0 points ) Step 1 : Prepare journal entries to record the December transactions in the General Journal Tab in
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Step : Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel Template.xlsx Use the following accounts as appropriate:
tableCashLand,Notes Payable,Depreciation ExpenseAccounts Receivable,Accumulated Depreciation,Common Stock,Salaries ExpenseSuppliesAccounts Payable,Retained Earnings,Supplies ExpensePrepaid Insurance,Deferred Revenue,Dividends,Rent ExpenseEquipmentSalaries Payable,Service Revenue,Insurance Expense
Dec : Issued common stock for $ cash.
Dec : Paid $ in advance for a oneyear insurance policy.
Dec : Purchased equipment for $ cash.
Dec : Purchased supplies for $ on account from XYZ Company.
Dec : Provided services to customers for $ cash.
Dec : Provided services to customer ABC Inc. on account for $
Dec : Received cash of $ in advance from customers for services to be provided in January.
Dec : Paid $ to company for the Dec purchase on account.
Dec : Received $ cash from customer ABC Inc., on account related to the Dec transaction.
Dec : Paid $ rent for the current month.
Dec : Paid salaries to employees $ for work performed from Dec to Dec
Dec : Received $ cash from customer ABC Inc., on account related to the Dec transaction.
Dec : Paid $ rent for the current month.
Dec : Paid salaries to employees $ for work performed from Dec to Dec
Dec : Declared and paid cash dividends of $ to stockholders.
Dec : Purchased land by signing a longterm note for $
Post all of the transactions from the "General Journal" tab to the Taccounts under the T
Step : AccountsGeneral Ledger" tab in the excel template file "Accounting Cycle Excel Template.xlsx
Assume there are no beginning balances in any of the accounts.
Step : Compute the unadjusted balance for each Taccount after all of the December entries have been poste
Step : Prepare the unadjusted trial balance on the "Unadjusted Trial Balance" tab.
Provide the total of the credit column from the Unadjusted Trial Balance
A
Step : Record the December adjusting entries on the "General Journal" tab.
Dec : One month insurance has been used.
Dec : Supplies remaining at the end of the month total $
Dec : The estimated depreciation on equipment is $
Dec : Salaries incurred from December to December but not yet paid or recorded total $
Question points
Step : Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel Template.xlsx Use the following accounts as appropriate:
tableCashLand,Notes Payable,Depreciation ExpenseAccounts Receivable,Accumulated Depreciation,Common Stock,Salaries ExpenseSuppliesAccounts Payable,Retained Earnings,Supplies ExpensePrepaid Insurance,Deferred Revenue,Dividends,Rent ExpenseEquipmentSalaries Payable,Service Revenue,Insurance Expense
Dec : Issued common stock for $ cash.
Dec : Paid $ in advance for a oneyear insurance policy.
Dec : Purchased equipment for $ cash.
Dec : Purchased supplies for $ on account from XYZ Comijany.
Dec : Provided services to customers for $ cash.
Dec : Provided services to customer ABC Inc. on account for $
Dec : Received cash of $ in advance from customers for services to be provided in January.
Dec : Paid $ to company for the Dec purchase on account.
Dec : Rec
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