Completing the Accounsing Cydle 241 data: rsed Salarics Espense, $80 s recorded

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Completing the Accounsing Cydle 241 data: rsed Salarics Espense, $80 s recorded on the tnuck using the straight-line method. Assume fe of five years and a salvage value of $3,0o0. srance for the month has expired. Office Supplies on hand, $450, raed Service Revenue, $450 Revenue carned during the month, 5700. t Aceroed Service Phepure an rial balance as of December 31, 2018 and Service's income statement and statement of owner's ber 31, 2018, and the classified balance sheet for the month ended December and hat date. On the income statement, list expenses in : Prepare Murphy Delive ember 1 decneasing otder by that is, the largest expense first, the smallest expense last. the closing entries, and post to the T-accounts & Journalive ed a Pepare a post closing trial balance as of December 31,2018 rehensive Problem 2 for Chapters 1-4 e problem is a continuation of Comprehensive Problem 1 . Murphy D-ivery Service has completed closing entnes and the accounting cycle for 2018. The basincessis now ready to record January 2019 transactions. 3 Collected $200 cash from customer on account. 5 Purchased office supplies on account, $1,000. 12 Performed delivery services for a customer and received $3,000 cash. 5 Paid employee salary, including the amount owed on December 31, $4,100 yable an Performed delivery services on account, $1.350 20 Paid $300 on account 24 Purchased fuel for the truck, paying $200 cash. 27 Completed the remaining work due for Unearned Revenue. 28 Paid office rent, $2,200, for the month of January. 30 Collected $3,000 in advance for delivery service to be performed later 31 Murphy withdrew cash of $1,500. ments 1. Recond cach January transaction in the journal. Explanations are not required 2 Post the transactions in the T-accounts. Don't forget to use the December 31, 2018, ending balances as appropriate. J. Prepare an unadjusted trial balance as of January 31, 2019 . Prepare a worksheet as of January 31,2019 (optional) 5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. F the T-accounts. Post adjusting entries to

Explanation / Answer

03-Jan Cash 200            Accounts receivable 200 05-Jan Office supplies 1000            Accounts payable 1000 12-Jan Cash 3000            Service revenue 3000 15-Jan Salaries expense 3300 Salaries payable 800               Cash 4100 18-Jan Accounts receivable 1350             Service revenue 1350 20-Jan Accounts payable 300             Cash 300 24-Jan Fuel expense 200            Cash 200 27-Jan Unearned service revenue 700               Service revenue 700 28-Jan Rent expense 2200             Cash 2200 30-Jan Cash 3000           Unearned service revenue 3000 31-Jan Murthy's drawings 1500              Cash 1500

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