Question

***JUST NEED THE LEDGER DONE # 2 ***

INSTRUCTIONS AND TRANSACTIONS FOR THE CHAPTER 3 "BIG" PROJECT WORTH 100 POINTS NOTE: YOU MUST USE THE PROJECT WORKPAPERS (EXCEL FILE) PROVIDED IN D2L CONTENT / CHAPTER 3 FOLDER. NO OTHER FILES WILL BE ACCEPTED. On January 1, 2019, Bruce Wayne created a new Crime Watch agency called Batman's Watchdog Service. The following transactions occurred during the company's first month of operations: Jan 1 To get the business started, Wayne invested $1,000,000 cash, computer equipment worth $150,000, and a patent on new technology worth $850,000 in exchange for Common Stock 2 Rented subteranian office space (Bat cave) by paying $20,000 cash for the first month's rent 3 Purchased $3,000 of office supplies for cash. 3 Paid $120,000 cash for a one-year insurance policy. Coverage began immediately. 14 Paid $6,000 cash for wages to one employee (Robin) 24 Collected $50,000 cash for services provided to customers in January. 26 Wayne took out a bank loan for $10,000,000 with a term of 5 years. 28 Paid another $12,000 cash for wages to Robin and new employee, Bat Girl. 29 Paid $3,000 for internest service in cash. 30 Paid $1,500 cash to repair the company's computer after Robin spilled his coffee on the main server. The company's chart of accounts included the following: 101 Cash 405 Service Fee Revenue 106 Accounts Receivable 612 Depreciation Expense - Computer Equip. 124 Office Supplies 622 Wage Expense 128 Prepaid Insurance 637 Insurance Expense 167 Computer Equipment 640 Rent Expense 168 Accum. Depr. - Computer Equip. 650 Office Supplies Expense 190 Patent 684 Repairs Expense 209 Wages Payable 688 Internet Service Expense 212 Interest Payable 690 Interest Expense 220 Notes Payable 901 Retained Earnings 301 Common Stock

***JUST NEED THE LEDGER DONE # 2 ***

***JUST NEED THE LEDGER DONE # 2 ***

Answer 1

Cash
Date	Explanation	PR	Debit	Credit	Balance
Jan-01	Common Stock		1000000		1000000
Jan-02	Rent Expense			20000	980000
Jan-03	Office Supplies			3000	977000
Jan-03	Prepaid Insurance			120000	857000
Jan-14	Wages Expense			6000	851000
Jan-24	Service Revenue		50000		901000
Jan-26	Notes Payable		10000000		10901000
Jan-28	Wages Expense			12000	10889000
Jan-29	Internet Service expense			3000	10886000
Jan-30	Repair Expense			1500	10884500
Accounts Receivable
Date	Explanation	PR	Debit	Credit	Balance
e	Service Revenue		500000		500000
Office Supplies
Date	Explanation	PR	Debit	Credit	Balance
Jan-03	Cash		3000		3000
b	Office Supplies Expense			1000	2000
Prepaid Insurance
Date	Explanation	PR	Debit	Credit	Balance
Jan-03	Cash		120000		120000
a	Insurance Expense			10000	110000
Computer Equipment
Date	Explanation	PR	Debit	Credit	Balance
Jan-01	Common Stock		150000		150000
Accumulated Depreciaiton - Computer Equipment
Date	Explanation	PR	Debit	Credit	Balance
c	Depreciation Exp			50000	50000
Patent
Date	Explanation	PR	Debit	Credit	Balance
Jan-01	Common Stock		850000		850000
Wages Payable
Date	Explanation	PR	Debit	Credit	Balance
d	Wages Expense			6000	6000
Interest Payable
Date	Explanation	PR	Debit	Credit	Balance
f	Interest Payable			30000	30000
Notes Payable
Date	Explanation	PR	Debit	Credit	Balance
Jan-26	Cash			10000000	10000000
Common Stock
Date	Explanation	PR	Debit	Credit	Balance
Jan-01	Cash			1000000	1000000
	Computer Equipment			150000	1150000
	Patent			850000	2000000
Service Revenue
Date	Explanation	PR	Debit	Credit	Balance
Jan-24	Cash			50000	50000
e	Accounts Receivable			500000	550000
Depreciaiton Expense - Computer Equipment
Date	Explanation	PR	Debit	Credit	Balance
c	Acc Depreciation		50000		50000
Wages Expense
Date	Explanation	PR	Debit	Credit	Balance
Jan-14	Cash		6000		6000
Jan-28	Cash		12000		18000
d	Wages Payable		6000		24000
Insurance Expense
Date	Explanation	PR	Debit	Credit	Balance
a	Prepaid Insurance		10000		10000
Rent Expense
Date	Explanation	PR	Debit	Credit	Balance
Jan-02	Cash		20000		20000
Office Supplies Expense
Date	Explanation	PR	Debit	Credit	Balance
b	Office Supplies Expense		1000		1000
Repairs Expense
Date	Explanation	PR	Debit	Credit	Balance
Jan-30	Cash		1500		1500
Internet Service Expense
Date	Explanation	PR	Debit	Credit	Balance
Jan-29	Cash		3000		3000
Interest Expense
Date	Explanation	PR	Debit	Credit	Balance
f	Interest Payable		30000		30000
Retained Earnings
Date	Explanation	PR	Debit	Credit	Balance

You asked for only #2, i have posted adjusting entries as well