Question
questions 2 through 8 can I get help with them? the questions in the pictures are my detailed questions post closing trail balance cash 21,500
questions 2 through 8 can I get help with them? the questions in the pictures are my detailed questions
post closing trail balance
cash 21,500 debit
accounts receivable 1,850 debit
office supplies 450 debit
prepaid insurance 500 debit
truck 9,000 debit
accumulated depreciation- truck 100 credit
salaries payable 800 creit
unearned revenue 1,500 credit
capital 30,900
total 33,300
e. one Dec 1 paid 600$ for 6 months insurance policy and the policy starts Dec 1 2018
f. truck useful life is 5 years, salvage value of 3000$ bought the truck on Dec 1 with a fair value of 9000$
thank you for the help... and sorry the question is a mess.
Adjustment data: a. Office Supplies on hand, $600. b. Accrued Service Revenue, $1,800. c. Accrued Salaries Expense, $500. d. Prepaid Insurance for the month has expired. c. Depreciation was recorded on the truck for the month. 6. Prepare an adjusted trial balance as of January 31, 2019. 7. Prepare Murphy Delivery Service's income statement and statement of retained earnings for the month ended January 31,2019, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount-that is, the largest expense first, the smallest expense last. 8. Calculate the following ratios as of January 31, 2019, for Murphy Delivery Ser- vice: return on assets, debt ratio, and current ratio. Thi s comprehensive problem is a continuation of Comprehensive Problem 1. Murphy elivery Service has completed closing entries and the accounting cycle for 2018. The business is now ready to record January 2019 transactions. Jan. 3 Collected $200 cash from customer on account. 5 Purchased office supplies on account, $1,000. 12 Performed delivery services for a customer and received $3,000 cash. 15 Paid employee salary, including the amount owed on December 31, $4,100. 18 Performed delivery services on account, $1,350. 20 Paid $300 on account. 24 Purchased fuel for the truck, paying $200 cash. 27 Completed the remaining work due for Unearned Revenue. 28 Paid office rent, $2,200, for the month of January 30 Collected $3,000 in advance for delivery service to be performed later. 31 Cash dividends of $1,500 were paid to stockholders Requirements 1. Record each January transaction in the journal. Explanations are not required. 2. Post the transactions in the T-accounts. Don't forget to use the December 31, 2018, ending balances as appropriate. 3. Prepare an unadjusted trial balance as of January 31, 2019 4. Prepare a worksheet as of January 31, 2019 (optional). 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accountsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started