Question

Roth Contractors Corporation was incorporated on December 1, 2019. Required: Part A 1 Prepare journal entries to record the December transactions shown on page "Transactions Pt. A". General ledger account numbers and descriptions are not needed. 2 Post the entries to general ledger T-accounts. Part B 3 Prepare all necessary adjusting entries based on the information shown on the printed "Adj. Entries Pt. B" page. General ledger account numbers and descriptions are not necessary. 4 Post the entries to general ledger T-accounts and calculate balances. 5 Prepare an adjusted trial balance at December 31. 6 Prepare an income statement, statement of changes in equity, and balance the fiscal year-end is December 31, 2019. 7 Prepare closing entries and a post-closing trial balance at December 31, 201

Answer 1

Journal Entries (Page 2) A Advertising Aka Interest All Telephone Alc Truck coperating All Woges Al To cash (p) 700 (or) 700 Cor) 800 (Dr) Соо (ar) 5000 (C) 7800 7 I ) Accounts fecervants Cash Alc o n To Accounts Receivabel 1000 All ( 1000 (1) Accounts receivable Al cor 7000 To Repairs Revenue Ale (6) No entry required 7000 *) 1) Advertising All (or) Goo Interest Alc (or) 600 Truch operating All (or) 900 Wages Afc (or) 2000 4100 To (ar) cash Cart Al theorned befans revente A cor) 2000 - To Repairs Revenue Alcon 2000 m) n utilities To 800 Expense All A Expenses (provision (Dr) 800 Payable Expenses

Journal Entries - Page 3 o) Effect already given in entry (e) in entry (16) B) q) I Effect Unused To already given supplies All supplies All (Dr) cer) 100 100 7 s Repairs Revenue All car) 2000 To Unearned revenue All 2000 wages Al (Ar) 2900 To wages payable Al 2900 Depreciation All (or) 361.11 To Truck Ale cer 361.11 It) I 1. Income To Tax Expenses Al (Ar) 100 Income Tac payable AL Alc (() (Cr) 100 10

Journal Entries Cash Al (Page 1) (or 2000 a) To Commen stock All (or) 2000 b) Rent Al con 800 (Expense) Advance Rent Ak cor) 1600 (aurrent Assets) To cash Al (ar) 2400 Truck (fixed Asset) Al (Ar) 13000 . To Account Payeble Ale Cor). 13000 c) d) Supplies Ak . (Dr) 1600 To Accounts payable AL 1600 (Dr) 190 Cor) 2090 Inswiance Expense AK Prepaid Insurance Al (current Assets) To Cash All 2280 7 Alle f repared fevenue at Accounts Receivable Al (Ar) 6000 To Repairs Revenue All (n) 6000 Cash Alc (Dr) 4000 To Attants receivalt tex) 4000 To Repairs Revenue All (Cr) 4000
All journal entries are recorded as per serial number mentioned in problem