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Part 11 Due Date: Thursday, September 19, 2019 - at the START of class. Part II is worth 15 points YOU MUST TURN IN ALL PAGES (numbered at the bottom of the "accounting paper" pages.) All pages must be STAPLED together - I will not have a stapler in class. Use Pencil and a good eraser!!!!!!! PART II. REQUIREMENTS: a. Start on the first blank General Journal page and prepare the Adjusting Entries for the month of December based on the information below labeled i. - vi. Use the account names that are on the General Ledger accounts. These adjustments can all be dated December 31. The entity uses straight-line depreciation. b. Post all adjustments from the General Journal to the General Ledger accounts. So, at this point the adjustments will be posted on the same Ledger pages that you sactions to, just as if it were a real set of books and records. Suggestion: when you have posted one line of a transaction, write the Account Number in the REF column of the GJ, and write the GJ-page in the REF column of the GL. Each time you post one line, repeat this process, it will help you keep track of what has been posted, and later if you need to check your work you will know where the number in the GL originated. c. Prepare an Adjusted Trial Balance. Include only accounts that have non-zero balances. The accounts should appear in the same order as in the GL. Make sure that all pages have appropriate headings (look at the examples in the textbook - Chapter 2). DO NOT prepare any closing entries!!! You will lose points on your Adjusted TB if you include closing entries at this point. Fall 2019 The following information is available related to adjusting entries prior to preparing financial statements for the LLC's first month: The December 31 count of computer supplies still on hand and available for future use shows $575 still available. One month of the 24-month insurance policy has expired. As of December 31, Mary Rourke has not been paid for six days of work at $280 per day. The company's computer equipment is expected to have a five-year life. The company's office equipment is expected to have a four-year life. vi One month of the prepaid rent has expired. Name John Tang, LLC GENERAL JOURNAL Account Titles and Explanation Ref. Debit Credit Date 2019 Dec 1 Cash Computer Equipment Office Equipment Common Stock To record the issuance of 1,000 shares of common stock as John Tang's initial investment 101 167 163 3071 200.000 10,000 5,000 215,000 4 ,800 131 101 4.800 2 Prepaid Rent Cash To record payment of 3 months rent in advance. 2 ,400 128 1011 400 3 Prepaid Insurance Cash To record payment of 2 year property and liability insurance policy starting 12/1/2019 8 00 126 201 800 6 Computer Supplies Accounts Payable To record purchase of supplies from Staples 106 15,000 15.000 8 Accounts Receivable Services Revenue To record billing to CCC, Inc. for accounting and tax services 850 655 101 850 10 Advertising Expense Cash To record payment for Dec 15 newspaper ad. - 623 840 840 12 Wages Expense Cash To record payment to Mary Rourke for three days' work. Credit Debit Ref. 350 Name John Tang, LLC General Journal Account Tities and Explanation 350 684 Date 101 2019 Dec 16 Repairs Expense - Computer Cash To record payment for computer damaged due to moving. 7,000 7,000 101 - 106 17 Cash Accounts Receivable To record receipt of amount due from CCC, Inc. 3.750 3,750 106 403 20 Accounts Receivable Services Rev To record billing to HHH, Inc. for services performed. To record 3.200 3.200 101 106 22 Cash Accounts Receivable To record receipt of amount due from CCC, Inc. for Dec 10 invoice. 10,620 106 403 23 Accounts Receivable Services Rev To record billing to XYZ, Inc. for services performed. 1.000 319 101 1,000 28 Dividends Cash To record payment of cash dividend to John Tang. 800 31 Accounts Payable Cash To record payment to Staples. 201 101 800 Jonh lany, LLU GENERAL LEDGER Cash Ref. DEBIT ACCOUNT NO. 101 CREDIT BALANCE Explanation Date 2019 1-Dec 200,000 J1 4,800 2,400 850 840 350 J1 200,000 195,200 192,800 191,950 191,110 190,760 197,760 200,960 199,960 199,160 J2 7,000 3,200 1,000 800 Accounts Receivable Ref. DEBIT Explanation ACCOUNT NO. 106 CREDITBALANCE Date 2019 8-Dec 15000 17 J2 J2 7000 3750 15,000 8,000 11,750 8,550 19,170 3200 J2 10620 Name John Tang, LLC GENERAL LEDGER Computer Supplies Ref. DEBIT ACCOUNT NO. 126 CREDIT BALANCE 800 Explanation J1800 Date 2019 6-Dec ACCOUNT NO. 128 CREDIT BALANCE Prepaid Insurance Ref. DEBIT 2.400 Explanation Date ,400 J12 3-Dec ACCOUNT NO. 131 CREDIT BALANCE Prepaid Rent Ref. DEBIT lanation 4.800 Date 4 .800 J1 2019 2-Dec Office Equipment Ref. DEBIT ACCOUNT NO. 163 CREDIT BALANCE Explanation Date 5,000 2019 1-Dec J15 .000 Acc. Dep. - Office Equipment Explanation Ref. DEBIT ACCOUNT NO. 164 CREDIT BALANCE Date Computer Equipment Ref. DEBIT ACCOUNT NO. 167 CREDIT BALANCE Explanation Date 2019) 1-Decl 11 10,000 10,000 Date Acc. Dep. - Computer Equipment Explanation Ref. DEBIT ACCOUNT NO. 168 CREDIT BALANCE Name John Tang, LLC GENERAL LEDGER Accounts Payable DEBIT Explanation ACCOUNT NO. 201 CREDIT BALANCE Ref. D Date 2019 6-Dec 31 800 800 J1 J2 Date ACCOUNT NO. 210 CREDITB ALANCE Ref. DEBIT Unearned Service Revenue Ref. DEBIT Explanation ACCOUNT NO. 236 CREDIT BALANCE Date Name John Tang, LLC GENERAL LEDGER Common Stock Ref. DEBIT ACCOUNT NO. 307 CREDIT BALANCE 215,000 215,000 Explanation Date 2019) 1-Decl ACCOUNT NO. 318 CREDIT BALANCE Retained Earnings Ref. DEBIT Explanation Date Dividends Ref. ACCOUNT NO. 319 CREDIT BALANCE DEBIT Explanation Date 2019 28-Dec 1,000 1,000 J2 Services Revenue Ref. DEBIT ACCOUNT NO. 403 CREDIT BALANCE Explanation Date 2019 8-Dec 20 15000 3750 10620 15,000 18,750 29,370 John Tang, LLC Unadjusted Trial Balance 31-Dec-19 DEBIT CREDIT $ Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Common Stock Dividends 199,160 19,170 800 2,400 4,800 5,000 10,000 215,000 1,000 29,370 Service Revenue Wages Expense Advertising Expense Repairs Expense - Computer 840 850 350 Totals $ 244,370 S 244,370

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