Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Roth Contractors Corporation was incorporated on December 1,2019. Required: Part A 1 Prepare journal entries to record the December transactions shown on page Transactions Pt.

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Roth Contractors Corporation was incorporated on December 1,2019. Required: Part A 1 Prepare journal entries to record the December transactions shown on page "Transactions Pt. A". General ledger account numbers and descriptions are not needed. 2 Post the entries to general ledger T-accounts. Part B 3 Prepare all necessary adjusting entries based on the information shown on the printed "Adj. Entries Pt. B" page. General ledger account numbers and descriptions are not necessary. 4 Post the entries to general ledger T-accounts and calculate balances. 5 Prepare an adjusted trial balance at December 31. 6 Prepare an income statement, statement of changes in equity, and balance sheet. Assume the fiscal year-end is December 31, 2019. 7 Prepare closing entries and a post-closing trial balance at December 31, 2019. )ecember Adjusting Entries Amount o. One month of the prepaid insurance has expired. p. The December portion of the rent paid on December 1 has expired. q. Counted supplies and found this amount still on hand (recorded the amount used as an expense) $400 r. The amount collected in transaction m is unearned at December 31. s. Three days of wages for December 29,30 , and 31 are unpaid. These will be paid in January. t. One month of depreciation needs to be recorded. Estimated useful life of truck in years $2,900 u. Income taxes expense to be paid in the next fiscal year. $1,595 )ecember Adjusting Entries Amount o. One month of the prepaid insurance has expired. p. The December portion of the rent paid on December 1 has expired. q. Counted supplies and found this amount still on hand (recorded the amount used as an expense) $400 r. The amount collected in transaction m is unearned at December 31. s. Three days of wages for December 29,30 , and 31 are unpaid. These will be paid in January. t. One month of depreciation needs to be recorded. Estimated useful life of truck in years $2,900 u. Income taxes expense to be paid in the next fiscal year. $1,595 Roth Contractors Corporation GENERAL JOURNAL Roth Contractors Corporation GENERAL JOURNAL Roth Contractore Corporation GENERAL JOURNAL Roth Contractors Corporation dusted Trial Balance An December 31, 2019

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Trainer Online Purchase Managerial Accounting

Authors: Carl S. Warren, James M. Reeve, Philip E. Fess

8th Edition

ISBN: 0324204604, 978-0324204605

More Books

Students explore these related Accounting questions