Trial balance | Accounting homework help

 Using the data provided, perform the steps below to complete the final project. 

On December 1, 2019, SoccerBox Inc. started operations. The following transactions occurred during December 2019.

NOTE: There are no beginning balances-this is a new company.

Dec 1  Randol Espy invested $80,000 cash in the company for common stock.

Dec 2  Soccer Box purchased soccer equipment for $20,000 cash.

Dec 2  Soccer Box rented an old warehouse for $30,000 cash for the first year’s (December 2019-    November 2020) rent.

Dec 3  Soccer Box purchased $500 of office supplies with cash.

Dec 10 Soccer Box paid $12,000 cash for an annual insurance policy. 

Dec 14 Soccer Box paid $4,000 cash for the first payroll earned by its employees. 

Dec 24 Soccer Box received $85,000 cash from soccer fees paid by parents for a private youth soccer lesson. 

Dec 28 Soccer Box paid $4,000 cash for 2 weeks’ salaries earned by its employees.

Dec 29 Soccer Box paid $200 cash for minor repairs to its soccer equipment. 

Dec 30 Soccer Box paid $150 cash for this month’s telephone bill.

Dec 30 Dividends of $1,000 cash were paid by Soccer Box to its current shareholders.

Using this spreadsheet and the information above, complete the following:

  1. Record the journal entries that occurred during the month of December. 
  2. Prepare an unadjusted trial balance. 
  3. Create adjusting journal entries at the end of the year (December 31) based on the following adjustment data: 
    1. One month’s insurance coverage has expired (refer to the December 10 entry). 
    2. The company occupied the warehouse space for the month of December (refer to the December 2 entry). 
    3. At the end of the month, $100 worth of office supplies are still available (refer to the December 3 entry). 
    4. This month’s depreciation on the soccer equipment is $250. 
    5. Employees earned $300 of unpaid and unrecorded salaries as of month-end.
  4. Prepare an adjusted trial balance. 
  5. Prepare an income statement, a statement of retained earnings, and a classified balance sheet as of December 31, 2019.
Duepapers
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.