Solve for Req 5.
M er Delivery Service completed the following transactions during December 2016 (Click the icon to view the transactions.) 1. Record each transaction in the journaling the following chart of accounts Explanations are not required Cash Read the requirements Accounts Recovable Office Supplies Prepaid Insurance Retained Emings Dividends Income Summary Dec Salaries Expense Depreciation Expense --Truck Insurance Expense Truck Accumulated Depreciation ---Truck Accounts Payable Salaries Payable Unced Revenue Common shock Rent Expense Suse 1 Miller Delivery Service began operations by receiving $10,000 cash and a truck with a fair value of $20,000 from Robert Miller. The business issued Miller shares of common stock in exchange for this contribution 1 Paid $1.000 cash for a four-month insurance policy. The policy begins December 1 4 Paid $500 cash for office supplies. 12 Performed delivery services for a customer and received $2,000 cash. 15 Completed a large delivery job, billed the customer, $2,500, and received a promise to collect the $2,500 within one week 18 Paid employee salary, $1,000 20 Received $15.000 cash for performing delivery services 22 Collected $800 in advance for delivery service to be performed later 25 Collected $2,500 cash from customer on account 27 Purchased fuel for the truck, paying $300 with on account (Credit Accounts Payable) 28 Performed delivery services on account. 5700 20 Paid office rent $1,600, for the month of December 30 Paid $300 on account 31 Cash dividends of $3,000 were paid to stockholders 2. Post the transactions in the T-accounts 3. Prepare an unadjusted trial balance as of December 31, 2016 4. Prepare a worksheet as of December 31, 2015 s. Joumatize the adhusting entres wong the tollowing ustrert data and who by owing the journal entries prepared in Regement 1 Postad es to the T-accounts Adustment dat Accrued Salaries Expense $1.000 b. Depreciation was recorded on the truck ng the stra t ed Assume a useful of 5 years and a salvag ue of 55.000 Prepaid Insurance for the month has expired d. Office Supplies on hand $100 e. Uneamed Revenue med during the more 5300 Accued Service Revenue 50 6. Prepare an adjusted trial balance as of December 31, 2016 7. Prepare Miller Delivery Service's com m ent and statement of retained earrings for the month ended December 31, 2016. and the classified balance sheet on that date on the income statements expenses in decreasing onder by amount that is the largest expenses the most 8. Joure the countries and post to the accounts 9. Prepare a post-closing bra balances of December 31, 2016 Requirement 5. Journalize the adjusting entries using the adjustment data Post adjusting entries to the Taccounts Begin by preparing the adjusting entries (Record debits first then credits Exclude explanations from journal entries) a. Accrued Salaries Expense, $1,000 Review the Adjustments section of the worksheet you completed above Date Accounts Dec 31 Ad (a) Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer Adjustments section of worksheet Miller Delivery Service Worksheet (Partial) December 31, 2016 Adjustments Account Title 050 Cash Accounts Receivable Once Suple Prepaisance Thu Acc Dep.-Truck Accounts Payable Satories Payable Uneamed Revenue Common Stock 300 Service Revue Salaries Expense Dep Exp-Truck Supe Expense
