Question
The following transactions occurred for Murphy Delivery Service during December 2020 Dec. 1: Murphy Delivery Service began operations by receiving $22,000 cash and a truck
The following transactions occurred for Murphy Delivery Service during December 2020
Dec. 1: Murphy Delivery Service began operations by receiving $22,000 cash and a truck with a fair value of $15,000 from Russ Murphy. The business issued Murphy shares of common stock in exchange for this contribution.
Dec. 1: Paid $4,080 cash for a one-year insurance policy. The policy begins on December 1.
Dec. 4: Paid $1,400 cash for office supplies
Dec. 12: Performed delivery services for a customer and received $4,800 cash.
Dec. 15: Completed a large delivery job, billed the customer, $11,400, and received a promise to collect the $11,400 within one week.
Dec. 18: Paid employee salary, $3,600.
Dec. 20: Received $7,850 cash for performing delivery services.
Dec. 22: Collected $6,400 in advance for delivery service to be performed later.
Dec. 25: Collected $11,400 cash from a customer on account.
Dec. 27: Purchased fuel for the truck, paying $750 on the account. (Credit Accounts Payable)
Dec. 28: Performed delivery services on account, $5,750.
Dec. 29: Paid office rent, $2,550, for the month of December.
Dec. 30: Paid $460 on the account.
Dec. 31: Cash dividends of $3,450 were paid to stockholders.
Assume that Murphy Delivery Service started its operations in December 2020 and the beginning balance in all accounts is zero.
Prepare a post-closing trial balance as of December 31, 2020.
EDIT: I added Adjusting Entries
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