Roth Contractors Corporation was incorporated on December 1,2019 and had the following transactions during December:

Part A a. Issued common stock for $5,000 cash

b. Paid $1,200 cash for three months’ rent: December 2019;January and February 2020

c. Purchased a used truck for $10,000 on credit (recorded as anaccount payable)

d. Purchased $1,000 of supplies on credit. These are expected tobe used during the month (recorded as expense)

e. Paid $1,800 for a one-year truck insurance policy, effectiveDecember 1

f. Billed a customer $4,500 for work completed to date

g. Collected $800 for work completed to date

h. Paid the following expenses in cash: advertising, $350;interest, $100; telephone, $75; truck operating, $425; wages,$2,500

i. Collected $2,000 of the amount billed in f above

j. Billed customers $6,500 for work completed to date

k. Signed a $9,000 contract for work to be performed in January2020

l. Paid the following expenses in cash: advertising, $200;interest, $150; truck operating, $375; wages, $2,500

m. Collected a $2,000 advance on work to be done in January (thepolicy of the corporation is to record such advances as revenue atthe time they are received)

n. Received a bill for $100 for electricity used during themonth (recorded as utilities expense).

Part B The following information relates to December 31,2019:

o. One month of the prepaid insurance has expired.

p. The December portion of the rent paid on December 1 hasexpired.

q. A physical count indicates that $350 of supplies is still onhand.

r. The amount collected in transaction m is unearned at December31.

s. Three days of wages for December 29, 30, and 31 are unpaid,amounting to $1,500. These will be paid in January.

t. The truck has an estimated useful life of 4 years.

u. Income taxes expense is $500. This amount will be paid in thenext fiscal year.

Required:

5. Prepare all necessary adjusting entries. General ledgeraccount numbers and descriptions are not necessary.

7. Prepare an adjusted trial balance at December 31.

8. Assume the fiscal year-end is December 31, 2019. Prepare anincome statement, statement of changes in equity, and balancesheet.

9. Prepare closing entries and a post-closing trial balance atDecember 31, 2019