ABC Inc. established its operation at January 1st, 2014. A) Enter all necessery Journal Entries that occured during the

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ABC Inc. established its operation at January 1st, 2014. A) Enter all necessery Journal Entries that occured during the year. B) Then prepare the adjusting entries, closing entries, financials, worksheet & Taccounts. 1) In January, Initial stock issuance: 2) January, bought Equipment for $ 63000, 10 years life, $3000 residual value 3) November, paid total utility bills: 4) In January, paid in advance rent for two years: 5) In February, received prepayment from a customer for service to be provided: 6) Dec. 31st 2014, unearned revenue balance 7) In December, Dividend declared: $450,000 $63,000 $3,000 $8,500 $12,000 $42,000 $2,000 $10,000
0 Question 1 What is the Prepaid Rent balance on December 31st of the first year of operation? 12000 6000 0 0 O 6000 on the credit side of Trial Balance Question 2 O 3000 What is the Accumulated Depreciation-Equipment balance on December 31st of the first year of operation? 6300 6000 2 pts O 63000 2 pts
Question 3 What is the Unearned Revenue balance on December 31st of the first year of operation? O 2000 O 40000 00 O 42000 Question 4 What is the Total Adjusted Trial Balance on the debit side on December 31st of the first year of operation? O 502000 O 524000 O 514000 O 508000 2 pts 2 pts

Question 4 What is the Total Adjusted Trial Balance on the debit side on December 31st of the first year of operation? 502000 O 524000 O 514000 O 508000 Question 5 What is the Depreciation Expense balance on December 31st of the first year of operation? O 6000 O 57000 O 6300 O 63000 2 pts 2 pts