this is requirement 4

Requirement 8. Journalize the closing entries and post to the T-accounts.

Begin by journalizing the closing entries. (Record debits first, then credits. Exclude explanations from journal entries.)

Start by closing dividends

Miller Delivery Service Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Truck $ 20,000 Dividends 3,000 Fuel Expense 300 Accumulated DepreciationTruck 250 Rent Expense 1,600 Supplies Expense 400 22,900 21,150 1,000 1,350 Cash Service Revenue Salaries Payable Accounts Receivable Unearned Revenue Salaries Expense Office Supplies Common Stock 500 2,000 100 30,000 2,000 100 30,000 Salaries Expense Office Supplies Common Stock Depreciation ExpenseTruck Insurance Expense Prepaid Insurance 250 250 750 $ Total 52,900 52,900 $ 0 Requirements 1. Record each transaction in the journal using the following chart of accounts Explanations are not required. Cash Retained Earnings Accounts Receivable Dividends Office Supplies Income Summary Prepaid Insurance Service Revenue Truck Salaries Expense Accumulated DepreciationTruck Depreciation Expense-Truck Accounts Payable Insurance Expense Salaries Payable Fuel Expense Unearned Revenue Rent Expense Print Done Salaries Payable Fuel Expense Unearned Revenue Rent Expense Common Stock Supplies Expense 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, 2016. 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-accounts. Adjustment data: a. Accrued Salaries Expense, $1,000. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $5,000. Dronnid nirad 4. Prepare a worksheet as of December 31, 2016. 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-accounts. Adjustment data: a. Accrued Salaries Expense, $1,000. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $5,000. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, $100. e. Unearned Revenue earned during the month, $300. f. Accrued Service Revenue, $650. 6. Prepare an adjusted trial balance as of December 31, 2016. 7. Prepare Miller Delivery Service's income statement and statement of retained earnings for the month ended December 31, 2016, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amountthat is, the largest expense first, the smallest expense last 8. Journalize the closing entries and post to the T-accounts. 9. Prepare a post-closing trial balance as of December 31, 2016. Balance Sheet columns of worksheet Miller Delivery Service Worksheet (Partial) December 31, 2016 Balance Sheet Account Title Debit Credit Cash 22,900 Accounts Receivable 1,350 Office Supplies 100 Prepaid Insurance 750 Truck 20,000 Print Done 250 0 1,000 500 30,000 3,000 Acc. Dep. Truck Accounts Payable Salaries Payable Unearned Revenue Common Stock Dividends Service Revenue Salaries Expense Dep. Exp. Truck Insurance Expense Fuel Expense Rent Fynense 3,000 Dividends Service Revenue Salaries Expense Dep. Exp. Truck Insurance Expense Fuel Expense Rent Expense Supplies Expense 48,100 31,750 Net income or loss 16,350 48,100 || 48,100 Close dividends. Review the Balance Sheet columns of the worksheet completed in Requirement 4. Date Accounts Debit Credit Dec. 31 Cash 22900 Clos. (4) Truck 20000 Common Stock 30000 Choose from any list or enter any number in the input fields and then click Check