A More Info On December 1, Curt Walton began an auto repair shop, Walton's Quality Automotive. The following transactions occurred during December (Click the icon to view the transactions.) The business uses the following (Click the icon to view the a Adjustment data: (Click the icon to view the a Read the requirements Cash; Accounts Receivable: Office Supplies: Prepaid Insurance: Equipment; Accumulated Depreciation Equipment Land: Accounts Payable: Utilities Payable Interest Payable: Unearned Revenue; Notes Payable: Walton, Capital: Walton, Withdrawals: Income Summary: Service Revenue: Salaries Expense: Rent Expense: Utilities Expense: Advertising Expense; Supplies Expense; Insurance Expense; Interest Expense; and Depreciation Expense-Equipment. Requirement 1. Prepare the journal entries, and post to the T-accounts. Is first, then credits. Select the explanation on the last line of the journal entry Requirements - X Print Done Debit Credit More Info x Prepare the journal entries and post to the T-accounts. Prepare an unadjusted trial balance. Prepare the adjusting entries, and post to the T-accounts. Prepare an adjusted trial balance. Complete the worksheet for the month ended December 31, 2018 Prepare the income statement, the statement of owner's equity, and the classified balance sheet in report form Prepare the closing entries and post to the T-accounts. Prepare a post-closing trial balance Dec Print Done More Info - X 1 Walton contributed $65,000 cash to the business in exchange for capital 1 Purchased $9,000 of equipment paying cash 1 Paid $1,500 for a five-month insurance policy starting on December 1. 9 Paid $10,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $2.000. 19 Borrowed $12,000 from the bank for business use. Walton signed a note payable to the bank in the name of the business. The note is due in five years. 22 Paid S1,700 for advertising expenses. 28 Paid $300 on account. 28 The business received a bill for utilities to be paid in January, 5180. 31 Revenues earned during the month included $14,000 cash and $2,800 on account. 31 Paid employees' salaries $3,800 and building rent $1,300. Record as a compound entry. 31 The business received $1,400 for auto screening services to be performed next month. 31 Walton withdrew cash of $4,000. a. Office Supplies used during the month, $1,000 b. Depreciation for the month, $150. c. One month insurance has expired. d. Accrued Interest Expense $50. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? Print Done 31 parts Clear All remaining
