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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

Question 1(200 points)
Step 1: 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:
\table[[Cash,Land,Notes Payable,Depreciation Expense],[Accounts Receivable,Accumulated Depreciation,Common Stock,Salaries Expense],[Supplies,Accounts Payable,Retained Earnings,Supplies Expense],[Prepaid Insurance,Deferred Revenue,Dividends,Rent Expense],[Equipment,Salaries Payable,Service Revenue,Insurance Expense]]
Dec 1: , Issued common stock for $8,000 cash.
Dec 1: , Paid $1,200 in advance for a one-year insurance policy.
Dec 1: , Purchased equipment for $4,800 cash.
Dec 5: , Purchased supplies for $500 on account from XYZ Company.
Dec 15: , Provided services to customers for $8,200 cash.
Dec 16: , Provided services to customer ABC Inc. on account for $6,700.
Dec 17: Received cash of $2,200 in advance from customers for services to be provided in January.
Dec 22: Paid $240 to xYZ company for the Dec 5 purchase on account.
Dec 23: Received $2,900 cash from customer ABC Inc., on account related to the Dec 16 transaction.
Dec 25: Paid $1,200 rent for the current month.
Dec 28: , Paid salaries to employees $4,760 for work performed from Dec 1 to Dec 28.
Dec 23: , Received $2,900 cash from customer ABC Inc., on account related to the Dec 16 transaction.
Dec 25: , Paid $1,200 rent for the current month.
Dec 28: , Paid salaries to employees $4,760 for work performed from Dec 1 to Dec 28.
Dec 29: Declared and paid cash dividends of $350 to stockholders.
Dec 30: , Purchased land by signing a long-term note for $10,000.
Post all of the transactions from the "General Journal" tab to the T-accounts under the "T-
Step 2: Accounts/General Ledger" tab in the excel template file "Accounting Cycle Excel Template.xlsx".
Assume there are no beginning balances in any of the accounts.
Step 3: Compute the unadjusted balance for each T-account after all of the December entries have been poste
Step 4: Prepare the unadjusted trial balance on the "Unadjusted Trial Balance" tab.
1- Provide the total of the credit column from the Unadjusted Trial Balance
A
Step 5: , Record the December adjusting entries on the "General Journal" tab.
Dec 31: One month insurance has been used.
Dec 31: Supplies remaining at the end of the month total $90.
Dec 31: The estimated depreciation on equipment is $80.
Dec 31: Salaries incurred from December 29 to December 31 but not yet paid or recorded total $
Question 1(200 points)
Step 1: 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:
\table[[Cash,Land,Notes Payable,Depreciation Expense],[Accounts Receivable,Accumulated Depreciation,Common Stock,Salaries Expense],[Supplies,Accounts Payable,Retained Earnings,Supplies Expense],[Prepaid Insurance,Deferred Revenue,Dividends,Rent Expense],[Equipment,Salaries Payable,Service Revenue,Insurance Expense]]
Dec 1: , Issued common stock for $8,000 cash.
Dec 1: , Paid $1,200 in advance for a one-year insurance policy.
Dec 1: , Purchased equipment for $4,800 cash.
Dec 5: Purchased supplies for $500 on account from XYZ Comijany.
Dec 15: Provided services to customers for $8,200 cash.
Dec 16: Provided services to customer ABC Inc. on account for $6,700.
Dec 17: Received cash of $2,200 in advance from customers for services to be provided in January.
Dec 22: Paid $240 to xYZ company for the Dec 5 purchase on account.
Dec 23: Rec
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