Scenario:October 1: Issued $20,000 of common stock for $20,000 cash. Happy House Bakeshop opened for business on October 1, 2018. During the month of October, the following transactions occurred:
October 1: Purchased a delivery van for $11,000. Paid $4,000 in cash and borrowed the remainder (long-term) from the bank.
October 3: Purchased baking supplies for $900 on account.
October 5: Paid $1,800 on a one-year insurance policy, effective October 1.
October 12: Billed customers $4,800 for baking services.
October 18: Paid $1,500 of the amount owed on the van.
October 18: Paid $500 of the amount owed on baking services.
October 20: Paid $1,700 for employee salaries.
October 21: Collected $1,200 from customers billed on October 12.
October 25: Billed customers $1,900 for baking services.
October 31: Paid gas and oil for the month on the delivery, $500.
October 31: Paid an $800 dividend.
Adjustments:
(a) Earned but unbilled fees at October 31 were $2,500
(b) Depreciation for the month was $500
(c) One-twelfth of the insurance expired
(d) An inventory count showed $300 of cleaning supplies remaining on October 31
(e) Accrued but unpaid employee salaries were $500
Please complete the following tasks:
Post the October transactions to the general journal.
Post the adjusted transactions to the general journal. Display a separate general journal including the adjusted transactions.
Post T accounts to the general ledger.
Complete the Unadjusted Trial Balance.