Question

i need requirement 4-7 please . just submitted the parts i already did . thank you !

k Dividends Fuel Expense 0 Requirements Х reciation- O Bal he trial balance.) are an unadju s you prepare Miller Deliv Unadjusted Decembe 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 Depreciation-Truck Depreciation Expense—Truck Accounts Payable Insurance Expense 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. 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 amount—that 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. Print Done

Answer 1

Credit Calculation Miller Delivery Service Journal entries Date Account 1-Dec Cash Truck Common Stock Debit $ 10,000 $ 20,000 $ 30,000 $ 1,000 4 month 1-Dec Prepaid Insurance Cash $1,000 $ 500 4-Dec Office Supplies Cash $ 500 $ 2,000 12-Dec Cash Service Revenue $ 2,000 $ 2,500 15-Dec Accounts Receivable Service Revenue $ 2,500 $ 1,000 18-Dec Salaries expense Cash $ 1,000 $ 15,000 20-Dec Cash Service Revenue $ 15,000 $ 800 22-Dec Cash Unearned Revenue $ 800 $ 2,500 25-Dec Cash Accounts Receivable $ 2,500 $ 300 27-Feb Fuel expenses Accounts Payable $ 300 $ 700 28-Dec Accounts Receivable Service Revenue $ 700 $ 1,600 29-Dec Rent expense Cash $ 1,600 $ 300 30-Dec Accounts Payable Cash $ 300 $ 3,000 $3,000 31-Dec Dividends Cash Adjusting entries Date Account 31-Dec Salaries expense Adj (a) Salaries Payable Credit Calculation Debit $ 1,000 $1,000 $ 250 =(20,000-5,000)/5*1/12 31-Dec Depreciation expense- Truck Adj (6) Accumulated Depreciation - Truck $ 250 $ 250 =1,000/4 31-Dec Insurance expense Adj (c) Prepaid Insurance $ 250 $ 400 =500-100 31-Dec Supplies expense Adj (d) Office Supplies $ 400 $ 300 31-Dec Unearned Revenue Adj (e) Service Revenue $ 300 $ 650 $ 650 31-Dec Accounts Receivable Adj (f) Service Revenue Closing entries Date Account 31-Dec Service Revenue Clos. (1) Income Summary Credit Calculation Debit $ 21,150 $ 21,150 $ 4,800 31-Dec Income Summary Clos. (2) Salaries expense Depreciation expense- Truck Insurance expense Fuel expenses Rent expense Supplies expense $ 2,000 $ 250 $ 250 $ 300 $ 1,600 $ 400 $ 16,350 31-Dec Income Summary Clos. (3) Retained Earnings $ 16,350 $ 3,000 31-Dec Retained Earnings Clos. (4) Dividends $ 3,000

Date Credit Credit Date Debit Date Office Supplies 4-Dec $ 500 Adj (d) Date Debit Date Prepaid Insurance 1-Dec $ 1,000 Adj (c) $ 400 $ Miller Delivery Service T Accounts Date Debit Date Credit Date Debit Credit Cash Accounts Receivable 1-Dec $ 10,000 1-Dec $ 1,000 15-Dec $ 2,500 25-Dec $ 2,500 12-Dec $ 2,000 4-Dec $ 500 28-Dec $ 700 20-Dec $ 15,000 18-Dec $ 1,000 Adj (f) 650 22-Dec $ 800 29-Dec $ 1,600 25-Dec $ 2,500 30-Dec $ 300 31-Dec $ 3,000 250 $ Bal. Bal. $ 22,900 Truck 1-Dec $ 20,000 Bal. $ 1,350 Accumulated Depreciation - Truck Adj (b) $ 250 Bal. $ 100 Accounts Payable 30-Dec $ 300 27-Feb $ $ 750 Salaries Payable Adj (a) 300 $ 1,000 Bal. $ - Bal. $ 1,000 $ 20,000 Unearned Revenue $ 300 22-Dec $ Bal. $ 250 Common Stock 1-Dec $ 30,000 Bal. Retained Earnings Dividends 31-Dec $ 3,000 Adj (e) 800 $ 30,000 - Bal. Bal. $ Depreciation expense- Truck Adj (b) 250 $ 3,000 Insurance expense $ 250 $ Adj (c) Bal. $ 500 Bal. Service revenue Salaries expense 12-Dec $ 2,000 18-Dec $ 1,000 15-Dec $ 2,500 Adj (a) $ 1,000 20-Dec $ 15,000 28-Dec $ 700 Adj (e) 300 Adj (f) $ 650 $ Bal. Bal. $ 250 Bal. Fuel expense 300 $ 21,150 Bal. $ 2,000 Rent expense 29-Dec $ 1,600 $ 250 Supplies expense $ 400 Income Summary 27-Feb $ Adj (d) Bal. $ 300 Bal. $ 1,600 Bal. $ 400 Bal. $

Adjustments Debit Credit Adjusted TB Debit Credit 22,900 Income Statement Debit Credit Unadjusted TB Debit Credit 22,900 700 500 1,000 20,000 650 1,350 Balance Sheet Debit Credit 22,900 1,350 100 750 20,000 250 Post Closing TB Debit Credit 22,900 1,350 100 750 20,000 250 400 100 250 750 20,000 250 250 1,000 300 800 30,000 1,000 500 30,000 1,000 500 30,000 Miller Delivery Service Account Names Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Accumulated Depreciation - Truck Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Income Summary Service Revenue Salaries expense Depreciation expense- Truck Insurance expense Fuel expenses Rent expense Supplies expense Totals Net Income or Loss Totals 1,000 500 30,000 13,350 3,000 3,000 3,000 20,200 950 21,150 1,000 1,000 250 250 21,150 2,000 250 250 300 1,600 400 52,900 52,900 2,000 250 250 300 1,600 400 300 1,600 400 51,000 51,000 2,850 2,850 21,150 45,100 45,100 4,800 16,350 21,150 48,100 31,750 16,350 48,100 48,100 21,150

21,150 Miller Delivery Service Income Statement For Month Ended December 31, 2016 Revenues Service Revenue Expenses Salaries expense Rent expense Supplies expense Fuel expense Insurance expense Depreciation expense-Truck Total Expenses Net Income (Loss) 2,000 1,600 400 300 250 250 4,800 16,350 Statement of Retained Earnings For Month Ended December 31, 2016 Retained Earnings, January 1, 2016 Add: Net Income (Loss) 16,350 16,350 (3,000) 13,350 Less Dividends Retained Earnings, December 31, 2016

Miller Delivery Service Balance Sheet As of December 31, 2016 Assets Current Assets Cash Accounts Receivable Office Supplies Prepaid Insurance Total Current Assets Liabilities & Stockholders Equity Current Liabilities 22,900 Accounts Payable 1,350 Salaries Payable 100 Unearned Revenue 750 25,100 Total Current Liabilities 1,000 500 1,500 Property, Plant and Equipment Truck Accumulated Depreciation - Truck Total Property, Plant and Equipment Stockholders Equity 20,000 Common Stock (250) Retained Earnings 19,750 Total Stockholders Equity 30,000 13,350 43,350 Total Assets 44,850 Total Liabilities & Stockholders Equity 44,850