In: Accounting
information on second picture and requirements on first
Use Comprehensive Problem 1 For Chapter 1- 4, found on
PART 1 (5 Points):
A. Prepare the journal entries for December.
B. Prepare the unadjusted trial balance.
PART 2 (8 Points)
A. Prepare the adjusting entries.
B. Prepare the adjusted trial balance.
C. Prepare the Income Statement
D. Prepare the Retained Earnings Statement.
E. Prepare the Balance Sheet.
PART 3 (2 Points):
A. Prepare the closing entries.
B. Prepare the post-closing trial balance.
Murphy Delivery Service completed the following transactions during December 2018:
Dec. 1 Murphy Delivery Service began operations by receiving \(\$ 13,000\) cash and a truck with a fair value of \(\$ 9,000\) from Russ Murphy. The business issued Murphy shares of common stock in exchange for this contribution.
1 Paid \(\$ 600\) cash for a six-month insurance policy. The policy begins December 1 .
4 Paid \(\$ 750\) cash for office supplies.
12 Performed delivery services for a customer and received \(\$ 2,200\) cash.
15 Completed a large delivery job, billed the customer, \(\$ 3,300\), and received a promise to collect the \(\$ 3,300\) within one week.
18 Paid employee salary, \(\$ 800 .\)
20 Received \(\$ 7,000\) cash for performing delivery services.
22 Collected \(\$ 2,200\) in advance for delivery service to be performed later.
25 Collected \(\$ 3,300\) cash from customer on account.
27 Purchased fuel for the truck, paying \(\$ 150\) on account. (Credit Accounts Payable)
28 Performed delivery services on account, \(\$ 1,400\).
29 Paid office rent, \(\$ 1,400\), for the month of December.
30 Paid \(\$ 150\) on account.
31 Cash dividends of \(\$ 2,500\) were paid to stockholders.
Requirements
1. Record each transaction in the journal using the following chart of accounts. Fixplanations are not required.