Question

PLEASE ANSWER #8, 9 AND 10 AS SOON AS POSSIBLE. THANK YOU

IF POSSIBLE PLEASE DO WHOLE QUESTIONS. I WANT TO DOUBLE CHECK WITH MINE

Required:#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, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense.1-DecBegan business by depositing $9000 in a bank account in the name of the company in exchange for900 shares of $10 per share common stock.1-DecPaid the rent for the current month, $800 .1-DecPaid the premium on a one-year insurance policy, $1200 .1-DecPurchased Equipment for $3600 cash.5-DecPurchased office supplies from XYZ Company on account, $300 .15-DecProvided services to customers for $6600 cash.16-DecProvided service to customers ABC Inc. on account, $4300 .21-DecReceived $2100 cash from ABC Inc., customer on account.23-DecPaid $170 to XYZ company for supplies purchased on account on December 5 .28-DecPaid wages for the period December 1 through December 28, $4760 .30-DecDeclared and paid dividend to stockholders $200 .#2.Post all of the December transactions from the “General Journal” tab to the T-accounts under the “T-Accounts” tab in the excel template file "Accounting Cycle Excel Template.xlsx". Assume there are no beginning balances in any of the accounts.  #3.Compute the balance for each T-account after all of the entries have been posted. These are the unadjusted balance as of December 31.#4.Prepare the unadjusted trial balance under the “Unadjusted Trial Balance” tab in the excel template file "Accounting Cycle Excel Template.xlsx" .Provide the total of the credit column from the Unadjusted Trial Balance#5.Record the following four transactions as adjusting entries under the “General Journal” tab.31-DecOne month’s insurance has been used by the company $100.31-DecThe remaining inventory of unused office supplies is $90.31-DecThe estimated depreciation on equipment is $60.31-DecWages incurred from December 29 to December 31 but not yet paid or recorded total $510.#6.Post all of the adjusting entries to the T-accounts under the “T-Accounts” tab. Compute the balance for each T-account after all of the adjusting entries have been posted. These are the adjusted balance as of December 31.#7.Prepare the adjusted trial balance under the “Adjusted Trial Balance” tab as of December 31 in the excel template file "Accounting Cycle Excel Template.xlsx" .Provide the following accounts balances from the Adjusted Trial Balance:Cash   Accounts ReceivableSupplies   Prepaid InsuranceEquipmentAccumulated DepreciationAccounts PayableWages Payable   Common StockRetained Earnings

#8 Prepare Income Statement, Statement of Stockholder’s Equity, and Classified Balance Sheet under the “Financial Statements” tab for the month ended December 31, 20XX in the excel template file "Accounting Cycle Excel Template.xlsx". Provide the following amount from the Income Statement: Service Revenue Depreciation Expense Wages Expense Supplies Expense Rent Expense Insurance Expense Net Income Provide the following account balance from the Statement of Stockholders' Equity: Dividends Provide the following account balances from the Balance Sheet: Current Assets                          Long-Term Assets Total Liabilities Total Stockholder’s Equity Cash    #9.                Record the closing entries under the “General Journal” tab. #10. Post all of the closing entries to the T-accounts under the “T-Accounts” tab. Compute the balance for each T-account after all of the closing entries have been posted.Provide the ending balance of Cash at December 31 from the T-account Provide the balance of the Retained Earnings T-account after closing entries have been posted. Does the ending balance of the Retained Earnings T-account agree with the balance of Retained Earnings on the Balance Sheet?                  

Check Point: Total Assets              $ 13,900.00

Answer 1

1.

Date	General Journal	Debit	Credit
Dec		$	$
1	Cash	9,000
	Common Stock		9,000
1.	Rent Expense	800
	Cash		800
1.	Prepaid Insurance	1,200
	Cash		1,200
1	Equipment	3,600
	Cash		3,600
5	Supplies	300
	Accounts Payable		300
15	Cash	6,600
	Service Revenue		6,600
16	Accounts Receivable	4,300
	Service Revenue		4,300
21	Cash	2,100
	Accounts Receivable		2,100
23	Accounts Payable	170
	Cash		170
28	Wages Expense	4,760
	Cash		4,760
30	Dividends	200
	Cash		200
Adjusting Entries
Dec 31	Insurance Expense	100
	Prepaid Insurance		100
Dec 31	Supplies Expense	210
	Supplies		210
Dec 31	Depreciation Expense	60
	Accumulated Depreciation		60
Dec 31	Wages Expense	510
	Wages Payable		510

8. a.

Income Statement For the month ended December 31
Service Revenue		$ 10,900
Less: Expenses
Wages Expense	5,270
Rent Expense	800
Insurance Expense	100
Supplies Expense	210
Depreciation Expense	60	6,440
Net Income		$ 4,460

b.

Statement of Changes in Equity For the month ended December 31
	Common Stock	Retained Earnings	Total Stockholders' Equity
Beginning balances	$ 0	$ 0	$ 0
Capital introduced	9,000		9,000
Net Income		4,460	4,460
Dividends		(200)	(200)
Ending balances	9,000	4,260	13,260

c.

Balance Sheet December 31
Assets
Current Assets
Cash	$ 6,970
Accounts Receivable	2,200
Prepaid Insurance	1,100
Supplies	90
Total Current Assets		$ 10,360
Property Plant and Equipment
Equipment, at cost	3,600
Accumulated Depreciation	(60)	3,540
Total Assets		13,900
Liabilities
Current Liabilities
Accounts Payable	130
Wages Payable	510
Total Current Liabilities		640
Stockholders' Equity
Common Stock	9,000
Retained Earnings	4,260
Total Stockholders' Equity		13,260
Total Liabilities and Stockholders' Equity		$ 13,900

9. Closing entries:

Date	General Journal	Debit	Credit
		$	$
Dec 31	Service Revenue	10,900
	Income Summary		10,900
	To close revenue account
Dec 31	Income Summary	6,440
	Wages Expense		5,270
	Rent Expense		800
	Supplies Expense		210
	Insurance Expense		100
	Depreciation Expense		60
	To close expense accounts
Dec 31	Income Summary	4,460
	Retained Earnings		4,460
	To close income summary
Dec 31	Retained Earnings	200
	Dividends		200
	To close dividends