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Before you begin, print out all the pages in this workbook 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 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 sheet. Assume the fiscal year-end is December 31, 2019. 7 Prepare closing entries and a post-closing trial balance at December 31, 2019.2019 December Transactions Amount Issued common stock for cash Paid cash for three months rent: December 2019, January and February 2020 Purchased a used truck on credit (recorded as an account payable) Purchased supplies on credit. These are expected to be used during the month (recorded as expense) Paid for a one-year truck insurance policy, effective December 1 Billed a customer for work completed to date Collected cash for work completed to date Paid the following expenses in cash: b. c. d. 13,000 1,600 2,280 6,000 4,000 Advertising Interest Telephone Truck operating Wages Collected part of the amount billed in f above Billed customers for work completed to date Signed a contract for work to be performed in January 2020 Paid the following expenses in cash: Advertising Interest Truck operating Wages 800 600 5,000 1,000 7,000 5,000 600 600 900 m. Collected an advance on work to be done in January (the policy of the coproration is to record such advances as revenue at the the time they are received) n Received a bill for electricity used during the month (recorded as utilities expense) 8002019 December Adjusting Entries Amount o. One month of the prepaid insurance has expired. p. The December portion of the rent paid on December 1 has expired. q Counted supplies and found this amount still on hand (recorded the amount used as an expense) $100 $2,000 $2,900 $100 The amount collected in transaction m is unearned at December 31 s. Three days of wages for December 29, 30, and 31 are unpaid. These will be paid in January. t. One month of depreciation needs to be recorded. Estimated useful life of truck in years is: u. ncome taxes expense to be paid in the next fiscal year.Roth Contractors Corporation Cash Accounts Payable Repair Revenue Rent Expense Accounts Receivable Wages Payable Advertising Expense Telephone Expense Unearned Repair Revenue Prepaid Insurance Income Taxes Payable Depreciation Exp Truck Truck Operating Expense Prepaid Rent Common Stock Insurance Expense Utilities Expense Unused Supplies Interest Expense Wages Expense Truck ncome Taxes ExpenseRoth Contractors Corporation GENERAL JOURNAL Dec. 2019 4d. Description Debit Credit b.Roth Contractors Corporation Adjusted Trial Balance At December 31, 2019 Accounts Balances Debit Credit Closing Entries DebitCredit Post-closing Trial Balance DebitCredit Account Title Accounts Receivable Prepaid Insurance Prepaid Rent Unused Supplies Accum. Depn. Truk Accounts Payable Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings Income Summary Repair Revenue Advertising Expense Depn. Expense-Truck Insurance Expense Interest Expense Rent Expense Supplies Expense Telephone Expense Truck Operating Expense Utilities Expense Wages Expense Income Taxes Expense

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