0 Non-Merchandising Transactions dut Jan. 2 Collected $3,700 on account. Paid the utilities and telephone Dils from December. (On December 20. the company received bills for the telephone ($310) and ublities {$290). At that time the company recorded a Telephone Payable Jan. 15 lability and a Utilities Payable liability, respectively.) Paid the wages aconued in December. (Wages accrued in December Jan. 15 amounted to $1,150 and was recorded as a Wages Payable lability.) Jan. 18 Rented canoes and received cash, $2,100. Received bills for utilities (8320) and telephone ($250) which wil be Jan. 20 paid later. Jan. 23 Paid various accounts payable, $1,400. Jan. 30 Paid employee. $ 1.200. Print Done Requirements 10 altid 1. Journalize and post the January transactions. Omit explanations. Use the ledger provided for posting. 2 Journalize and post the adjusting entries for the month of January. Omit explanations. Denote eech adjustment as Ady. Compute each account balance, and denote the belance as Bal. In addition, Tree Top Company provides this data: A physical count of the inventory at the end of the month revealed the cost was $4,011. b. The company estimated sales returns will be $120 with a cost of $60. G Office supplies used, $60. d. The Unearned Revenue has now been earned. e. Interest expense accrued on the notes payable, $30. Rent of one month has been used. (On December 1, the company prepaid $3,900 for three months' rent on the warehouse where the company stores the canoes. On December 31, the company recorded one month's worth of rent expense for the month of December in the amount of $1,300.) Monthy depreciation on the building amounts to $600. h. Monthy depreciation on the canoes amounts to $270. 3. Prepare the month ended January 31, 2025, single step income statement of Tree Top Company Joumalize and post the closing entries. Omit explanations. Denote each closing amount as Clo, and each balance as Bal . Alter posting at closing entries. prove the equality of debits and credits in the ledger by preparing a post-closing trial balance. 5. Compute the gross profit percentage for January for Tree Top Company PE Print Done Requirement 1. Joumalize and post the January transactions. Omit explanations. Uso tha ledger provided for posting Begin by Journalising the non-merchandising January transactions. Omit explanations. (Record debits first, then credits Jan. 2: Collected $3,700 an account Date Accounta Dabit Credit Jan 2 Cash 3700 Accounts Receivable 3700 Jan. 15: Paid the utilities and telephone bills from December. (On December 20, the company received bills for the telep Date Accounts Debit Credit Jan. 15 Telephone Payable 310 Utilities Payable 290 Cash 600 Jan. 15: Pald the wages accrued in December. (Wages accrued in December amounted to $1,150 and was recorded as a Date Accounts Debit Credit Jan 15 Wages Payable 11501 Cash 11501 Jan 18: Rented canoes and received cash, $2,100. Date Accounts Debit Credit Ben 18 21001 Canoe Rental Revenue 2100 Jan. 20. Received bits for utilities ($320) and telephone ($250) which will be paid later (Prepare a single compound joumal Accounts Debit Credit Jan 20 Us Expense Telephone Payage 3201 250 Choose from any list or enterary number in the inpus telds and then continue to the next question pomy Ir-shirts with its logo printed on them. Tree Top Company uses the perpetual Inventory syuter to account for the inver merchandising transactions, and posted the merchandising transactions to the ledger accounts. Date Accounts Dabit Credit 320 Jan. 20 Utilities Expense Telephone Payable 250 Jan. 23: Paid various accounts payable, $1.400. Date Accounts Debit Credit 1400 Jan. 23 Accounts Payable Cash 1400 Jan. 30: Paid employee, $1.200, Date Accounts Debit Credit Jan. 30 1200 Wages Expense Cash 1200 The opening balances of each account that were determined after recording the January merchandising transactions date that affect the same account, post to the account in the same order as you prepared the journal entries above. Fe Review the journal entries you prepared about Sales Rev Accounts Payable 2,960 Bal Bal 8.837 Tree Top Company baservlon based company that ronta noas for use on local lakes and Hvoru. Al the beginning of T-shirts with a logo printed on them. Treo Top Company use the perpetual entory system to account for the invento merchandising transactions, and posted the marchandising transaction to the ledger account Requirement 3. Prepare the month anded January 31, 2025, angle step Income statement of Tree Top Company Tree Top Company income Statement Month Ended January 31, 2025 Ravenues Total Revenues Expenses: Total Expenses Net Income (Loss) Requirement 4. Journalize and post the closing entries. Omit explanations. Denote each closing amount as Clo, and each b Begin by journalizing the closing entries. Omit explanations. Record debits first, then credits Exclude explanations from any Start by closing revenues Date Accounts Debit Credit Clo) Cose expenses for the month Date Accounts Fans Debit Credit Choose from any ligt or enterany number the input fields and then continue to the next question The Top Company baservice based company that reason for alle and the beginning of them. The T-shirts with a logo printed on them Tree Top Company the perpetual worlory outlet hantering merchandising trains and posted the merchandising traders to the latesc Requirement 4. Journal and post the coming in. Om explanation. Dende aching amount och BA Begin by Journaling the closing entrien. Om explanetina.(Record debita fral, then dia de experto y pud) Start by doing revenues Date Accounts De Cra Jan 31 Cla (1) Close expenses for the month Date Accounts Deba Cred Jan. 31 Clo (2) Close Income Summary Debit Credit Accounts Date Jan 31 Cio (3) Enter the adjusted balance of each account and select an 'Adj. Bal" reference to deny the adjusted beances Portal (including those that were not closed). For any accounts with a zero balance adjusted balance andior poul to the poing balance (Bal) on the last third line of the account. (For any account with a Pool og hapon Cash Accounts Payable Choose from any list or enter any number in the input fields and continue to the next question Tree Top Company ha servis bed company that renta canoas for use on locale and vera. Ar the beginning of the new year, Trom Takit Whia foco printed on them Troo Top Company was the purpokalvondoryayutom to account for the Inventory. During Januar chhornection, and posted the merchandising transactions to the last counts CA Enter the adjusted balance of each account and select an "Adj. Bal reference to idently the adjusted balance. Post the closing entries Including those that were not closed) For any account with a zero balance adjusted balance and/or post-cloning balance, select the posti balance (Bal) on the Inat (third line of the account. (For any accounts with a zero adjusted and/or post-closing balance, select a posting Cash Accounts Payable Sales Revenue Accounts Receivable Utilities Payable Canoe Rental Revenue Merchandise Inventory Telephone Payable Cost of Goods Sold Edited Retra ventory Wages Payable Rent Expense Chi Supplies Refunds Payable Wages Expense Rent Interest Payable Us Expense Choose contrary thenputton and then continue to the nest question Tree Top Company is a service based company that rents canoes for use on local lakes and evere. At the beginning of the new year, Tree Tahirts with a lopo printed on them Tree Top Company uses the perpetual inventory system to account for the inventory. During January merchandning sons, and posted the merchandising transactions to the indper accounts Office Supplies Refunds Payable Wages Expense Prepaid Rent Interest Payable Utilities Expense Land Unearned Revenue Telephone Expense Building Notes Payable Supplies Expense Accumulatiat Dar.-sny Depreciation Expense Building Cance W Cara Depreciation Expens Canons Accu Dp-Dances ta Tree Top Company is a service based company that renta canoes for use on local lakes and rivers. At the beginning of the new year. The Tahit with a logo printed on them Tree Top Company uses the perpetual inventory system to account for the inventory. During Janue mething reactions and posted the merchandising transactions to the ledger accounts Candes Walker, Capital Depreciation Expense-Canoes Accumulated Depecanoes Income Summary Interest Expense Prove the quality of debits and credits in the edge by preparing a post-doing a balance permanent account has a zero balance, exclude Tres Top Company Poul Closing Til Balance January 31, 2025 BC Account de Credit Dobil Requirement 3. Prepare the month ended January 31, 2025, single step income staler Tree Top Company Income Statement Month Ended January 31, 2025 Revenues: Total Revenues Expenses: Total Expenses Net Income (Loss) Requirement 4. Journalize and post the closing entries. Omit explanations. Denote each Begin by journalizing the closing entries. Omit explanations. (Record debits first, then credi Start by closing revenues. Date Accounts Debi Jan. 31 Tree Top Company la service based company that renta canoas for use on local lakes and Hvera. At the begin T-shirt with a logo printed on them. Tree Top Company uses the perpetual Inventory system to account for the merchandising transactions, and posted the merchandising transactions to the ledger accounts. Requirement 4. Journalize and post the closing entries. Omit explanations. Denote each closing amount as Clo Begin by Journalizing the closing entries. Omit explanations. (Record deblts first, then credits. Exclude explanation Start by closing revenues. Date Accounts Debit Credit Jan 31 C (1) Close expenses for the month. Date Accounts Debit Credit Ban 31 Cie (2) Close Income Summary Date Accounts Jan. 31 Debit Credit Co.133 Enter the adjusted balance of each account and select an 'Adj. Balefetence to dentify the adjusted balances. Post Including that were not closed). For any accounts with a tera balance adjusted balance and of post-closing balan Dalane Baion the third line at the account you a zero usted and/or post-cong balano Accounts Payable Sales Reven The Top Company baservice and company that rente annoad for use on boala and vom the beginning of the new year. Treo T T-shirts with logo printed on the Tree Top Company was the perpetual inventory system to account for the Inventory. During ourya mechanikhatron and posted the merchandeling transactions to the lenger nccount Enter the adusled balance of each count and seled and Ballarence to idently the sted at Pool he closing entries. Us Ancluding those that were not cloond). For any account with a balance aduted balance and or post-doing balance, act the poulin balance Cal") on the last third time of the account (For any counts with zero adjuned and or post.closing balance, select a ponting Cash Accounts Payable Sales Revenue Account Recalvable Utilities Payable Canon Rental Revenue Merchandise Inventory Telephone Payable Cost of Goods Sold Estimated Returns Inventory Wages Payable Rent Expense Office Supplies Refunds Payable Wages Expense Prepaid Rent Interest Payable Utilities Expense Land Uneaned Revenue Choose from any or enter any number in the input fields and then continue to the next question Telephone Expense Tre Top Company has a service based company that renta canoe for use on local inkes and vers. Al the beginning of the new year. Tree T-shirts with a lopo printed on them. Tree Top Company uses the perpekan inventory system to account for the Inventory During January mechanding transactions, and posted the merchandising transactions to the Indoor account Prepaid Rent Interest Payable Utilities Expanes Land Unearned Revenue Telephone Expense Building Notes Payable Supplies Expense Accumulated Dept.--Building Depreciation Expense Building Canoes Walker, Capital Depreciation Expense-Cance Accumulated Dept.-Canoes Income Summary Interest Expense Prove the quality of debits and credits in the edge by spring a post closing tribalance Account balanced The Top Company Choose from any lat or ter wmber the input told and then continue to the next to Prove the equality of deblts and credits in the ledger by preparing a post-closing trial balance. (If a perr Tree Top Company Pont-Closing Trial Balance January 31, 2025 Balance Account Title Debit Credit Total Requirement 5. Compute the gross profit percentage for January for Tree Top Company. (Round the pro Gross profit Choose from any list or enter any number in the input fields and then continue to the next