Prepare adjusting entries in journal format and post to T Accounts.

Journal entries for the transactions:

December 1

• Cash $100,000, Capital Stock $100,000
• Insurance Expense $4,800, Cash $4,800
• Gas Expense $200, Cash $200
• Equipment $4,800, Accounts Payable $4,800
• Supplies $800, Accounts Payable $800

December 12

• Cash $12,000, Accounts Receivable $12,000
• Cash $500, Accounts Receivable $500

December 28

• Cash $2,000, Accounts Receivable $2,000

December 31

• Accounts Payable $4,800, Cash $4,800
• Cash $1,000, Unearned Revenue $1,000
• Dividends $1,000, Retained Earnings $1,000
• Insurance Expense $400, Prepaid Insurance $400
• Depreciation Expense $100, Accumulated Depreciation $100
• Wages Expense $200, Wages Payable $200

2. T Accounts:

Cash
Debit Credit 100,000 December 1 4,800 December 1 200 December 1 12,000 December 12 500 December 12 2,000 December 28 4,800 December 31 1,000 December 31 1,000 December 31 400 December 31 100 December 31 200 December 31

Capital Stock Debit Credit 100,000 December 1

Insurance Expense Debit Credit 4,800 December 1 400 December 31

Gas Expense Debit Credit 200 December 1

Equipment Debit Credit 4,800 December 1

Accumulated Depreciation Debit Credit 100 December 31

Accounts Payable Debit Credit 4,800 December 1 800 December 12 4,800 December 31

Supplies Debit Credit 800 December 12 400 December 31

Accounts Receivable Debit Credit 12,000 December 12 500 December 12 2,000 December 28

Unearned Revenue Debit Credit 1,000 December 31

Prepaid Insurance Debit Credit 400 December 31

Wages Payable Debit Credit 200 December 31

Retained Earnings Debit Credit 1,000 December 31

3. Trial Balance:

Cash $102,500 Capital Stock $100,000 Insurance Expense $5,200 Gas Expense $200 Equipment $4,800 Accumulated Depreciation $100 Accounts Payable $5,600 Supplies $1,200