QUESTION 1 Required: #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: 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, $600 . 1-Dec Paid the premium on a one-year insurance policy, $720 . 1-Dec Purchased Equipment for $4800 cash. 5-Dec Purchased office supplies from XYZ Company on account, $300 . 15-Dec Provided services to customers for $5800 cash. 16-Dec Provided service to customers ABC Inc. on account, $3100 . 21-Dec Received $1700 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, $4760 . 30-Dec Declared and paid dividend to stockholders $200 . #2. 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. #3. Compute the balance for each T-account after all of the entries have been posted. These are the unadjusted balance as of December 31. #4. 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 Balance 16030 #5. Record the following four transactions as adjusting entries under the General Journal tab. 31-Dec One months insurance has been used by the company $60. 31-Dec The remaining inventory of unused office supplies is $90. 31-Dec The estimated depreciation on equipment is $80. 31-Dec Wages incurred from December 29 to December 31 but not yet paid or recorded total $510. #6. 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. #7. Prepare the adjusted trial balance under the Adjusted Trial Balance tab as of December 31 in the excel template file "Accounting Cycle Excel Template.xlsx" . Provide the following accounts balances from the Adjusted Trial Balance: Cash 3250 Accounts Receivable 1400 Supplies 210 Prepaid Insurance 660 Equipment 4800 Accumulated Depreciation 80 Accounts Payable 130 Wages Payable 510 Common Stock 7000 Retained Earnings -- #8. Prepare Income Statement, Statement of Stockholders 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 8900 Depreciation Expense 80 Wages Expense 5270 Supplies Expense 90 Rent Expense 600 Insurance Expense 60 Net Income 2800 Provide the following account balance from the Statement of Stockholders' Equity: Dividends (200) Provide the following account balances from the Balance Sheet: Current Assets Long-Term Assets Total Liabilities 720 Total Stockholders Equity 9600 Cash 3250 #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 closing entries have been posted. Provide the ending balance of Cash at December 31 from the T-account Provide the balance of the Retained Earnings T-account after closing entries have been posted. Does the ending balance of the Retained