1. Process necessary Adjusting Entries

Journal Entries

2. Create an Income Statement

3. Process Closing Process

4. Create a Post Closing Trial Balance

5. Create a Balance sbeet

6. Show T- Accounts and totalized them. Show retained ewenings on T- Accounts

For the Period Ending in March 31, 2014 Accounts Debit Cash Accounts Receivable Supplies Prepaid Rent Prepaid Advertising Prepaid Insurance Notes Receivable Equipment Building Land Land Improvement Accounts Payable Unearned Revenue Utilities Payable Salaries Payable Note Payable Capital Income Summary Income From Services Utilities Expense Salaries Expense Total Credit 399,700 150,000 2,000 12,000 12 months 2,400 12 months 1,200 12 months 10,000 20,000 5 years useful life 100,000 200,000 200,000 2 years useful life 200,000 150,000 300 10,000 197,300 400,000 20,000 130,000 300 10,000 1,107,600 1,107,600 Account Breakdowns Accounts Receivable: Mr. Thomas Mr. Roberts Hermelinda Linda 50,000 50,000 50,000 150,000 Accounts Payable: Gotten's RUS GOKU SUN RUS GOHAN SAMA RUS 100,000 30,000 70,000 200,000 Unearned Revenue Piccolo Sama Freeza Sama 100,000 50,000 150,000 Note Receivable 5 years 3% APR Issued on March 01 Notes Payable 3 years 2% MPR Issued March 31 (Monthly Basis) Utilities must be paid on April 14 Salaries need to be paid on April 02 Land Improvements were bought in March 31, 2014 Transactions: 1950 March 31 March 31 March 31 April 01 April 10 Mrs. Bulma comes and tells you there are only $50,00 of supplies on hand Mr. Thomas and Roberts came and pay their debt Company purchase $4,000.00 of supplies, 10% was paid On Account paid our debt to Goku Sun and Gohan Sama Paid our debt to the following: Gotten's RUS April 15 April 20 April 30 Provided services to Piccolo Sama and Vegetta Sama Mrs. Bulma comes and tells you there are only $100.00 of supplies on hand 1950 Recognize salaries of our employees in the amount of $10,000,00 (Half with check number 00001 and the rest to be paid next month on the 10th) Required 1.- Process necessary Adjusting Entries 2.- Create an Income Statement 3.- Process Closing Process 4.- Create a Post-Closing Trial Balance 5.- Create a Balance Sheet ( 20 points Xtra Credit)