[Amy0504]

1. Record the Journal Entries (lettered a through n).
a) Use the letter for each transaction for the “Date.”
b) Skip a line between each transaction. You have enough lines!
2. Post the Journal Entries to the T-accounts.
3. Prepare the Trial Balance.
4. Record the Adjusting Entries—(You may prepare a Worksheet if it will be helpful, but is NOT required)
5. Post the Adjusting Entries to the T-accounts.
6. Prepare the Adjusted Trial Balance.
7. Prepare the Financial Statements—do not forget to complete the headings.
8. Prepare the Closing Entries.
9. Post the Closing Entries to the T-accounts.
10. Prepare the Post-Closing Trial Balance.



Matthews Delivery Service, Inc. completed the following transactions during its first month of operations for January 2012:
a. Matthews Delivery Service, Inc. began operations by receiving $6,000 cash and a truck valued at $11,000. The business issued common stock to acquire these assets.
b. Paid $300 cash for supplies.
c. Prepaid insurance, $700.
d. Performed delivery services for a customer and received $800 cash.
e. Completed a large delivery job, billed the customer $1,500, and received a promise to collect the $1,500 within one week.
f. Paid employee salary, $700.
g. Received $12,000 cash for performing delivery services.
h. Collected $600 in advance for delivery service to be performed later.
I. Collected $1,500 cash from a customer on account.
j. Purchased fuel for the truck, paying $200 with a company credit card. (Credit Accounts Payable)
k. Performed delivery services on account, $900.
l. Paid office rent, $600. This rent is not paid in advance.
m. Paid $200 on account.
n. Paid cash dividends of $2,100.

Matthews Delivery Service, Inc. had the following adjustments for the data given at January 31, 2012:
a. Accrued salary expense, $700.
b. Depreciation Expense, $60.
c. Prepaid insurance expired, $250.
d. Supplies on hand, $200.
e. Unearned service revenue earned during January, $500

[Curlyben]

What do YOU think ?
While we're happy to HELP we won't do all the work for you.
Show us what you have done and where you are having problems..

[Amy0504]

What do YOU think ?
While we're happy to HELP we wont do all the work for you.
Show us what you have done and where you are having problems..

On the trial balance I am off 300$ where did I mess up?

[Curlyben]

No idea.
Being able to see and understand your work would be advantageous..

[paraclete]

There is an entry for $300, you should examine whether you have handled this transaction correctly