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: Cash Accounts Receivable Supplies Prepaid Insurance Equipment Land Accumulated Depreciation Accounts Payable Deferred Revenue Salaries Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Depreciation Expense Salaries Expense Supplies Expense Rent Expense Insurance Expense 1-Dec 1-Dec 1-Dec Issue common stock in exchange for cash of $9,000. Paid the premium in advance on a one-year insurance policy, $960. Purchased Equipment for $4,200 cash. Purchased office supplies from XYZ Company on account, $400. Provided services to customers for $8,600 cash. 5-Dec 15-Dec 16-Dec Provided services to customer ABC Inc. on account, $7,300. Received $2,400 cash in advance from customer for services to be provided in January. 17-Dec 22-Dec 23-Dec 25-Dec Paid $230 to XYZ company for the Dec 5 purchase on account. Received $3,100 cash from customer, ABC Inc., on account. Paid the rent for the current month, $1,300. Paid salaries to employees for work performed from December 1 Declared and paid dividends to stockholders $550. Purchased land by signing 3 year note payable for $12,000. 28-De rough December 28, $4,200. 29-Dec 30-Dec Step 2: Post all of the December transactions from the "General Journal" tab to the T-accounts under the "General Ledger/T-Accounts" 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 balance for each T-account after all of the entries have been posted. 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 Step 5: Record the December adjusting entries on the "General Journal" tab. 31-Dec One month's insurance has expired $80. 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: Cash Accounts Receivable Supplies Prepaid Insurance Equipment Land Accumulated Depreciation Accounts Payable Deferred Revenue Salaries Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Depreciation Expense Salaries Expense Supplies Expense Rent Expense Insurance Expense 1-Dec 1-Dec 1-Dec Issue common stock in exchange for cash of $9,000. Paid the premium in advance on a one-year insurance policy, $960. Purchased Equipment for $4,200 cash. Purchased office supplies from XYZ Company on account, $400. Provided services to customers for $8,600 cash. 5-Dec 15-Dec 16-Dec Provided services to customer ABC Inc. on account, $7,300. Received $2,400 cash in advance from customer for services to be provided in January. 17-Dec 22-Dec 23-Dec 25-Dec Paid $230 to XYZ company for the Dec 5 purchase on account. Received $3,100 cash from customer, ABC Inc., on account. Paid the rent for the current month, $1,300. Paid salaries to employees for work performed from December 1 Declared and paid dividends to stockholders $550. Purchased land by signing 3 year note payable for $12,000. 28-De rough December 28, $4,200. 29-Dec 30-Dec Step 2: Post all of the December transactions from the "General Journal" tab to the T-accounts under the "General Ledger/T-Accounts" 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 balance for each T-account after all of the entries have been posted. 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 Step 5: Record the December adjusting entries on the "General Journal" tab. 31-Dec One month's insurance has expired $80
