1)post adjusting entries to ledger

2)prepare an adjustment trial balance

3)prepare the worksheet

4)prepare financial statements; income statement, retained earnings statement, and statement of financial position

5) journalize and post the closing entries

6)prepare a post-closing trial balance.

the adjusting entries are already prepared as the picture given from excel. the other parts are based on the adjusting entries given.

Title Debit Credit Assumptions June 30, 2022 5 7,000 1. Supplies expense (9.100-2100) Store supplies Supplies left on hand 2100 7.000 2 0 9 50 Deprecation on store equipment is 600 a year, and 50 per month 2- Depreciation expense Accumulated Depreciation - Store Equipment 50 10 70 a 3. Depreciation expense Accumulated Depreciation - Delivery Equipment Deprecation on delivery equipment is 840 a year, and 70 per month 70 12 14 3000 4. Bad debt expense Allowance for doubtful accounts Sigma corporation estimates uncollectible receivables - 3000 3000 10,450 1 17 10 10 10 21 5. Cash Notes receivable Interest revenue Sigma corporation Tenda Beta Co a note of 10,000 with an interest of 9% on January 1 for 6 months 10,000 450 6 Note Payable Interest Expense Cash 10,000 150 21 Sigma corporation borrows 10,000 cash by signing a 136,6 month note dated December 30,2021 10,150 Accrued salaries were 2000 31 29 2.000 7- Salaries Experise Salaries Payable 2,000 27 20 55 8- Insurance Expense Prepaid Insurance On June 1st, Sigma paid 330 for 6 months fire insurance policy, coverage began on June 1st 35 30 31 1.400 9. Cost of goods sold Merchandise Inventory Through a physical count, merchandise inventry at the end of the company's fiscal year is 40,000 1,400 23 The trial balance of Sigma Corporation contained the following accounts at June 30, 2022, the end of the company's fiscal year Sigma Corporation Trial Balance June 30, 2022 Debit Credit Cash $32.600 Accounts Receivable 20.200 Allowance for Doubtful Accounts $ 1,700 Notes Receivable 14.500 Merchandise Inventory 41.400 Store Supplies 9,100 Prepaid Insurance 11,500 Store Equipment 85.000 Accumulated Depreciation - Store Equipment 20.000 Delivery Equipment 48,000 Accumulated Depreciation - Delivery Equipment 8,000 Notes Payable 59.800 Accounts Payable 44,500 Share Capital - Ordinary 95,000 Retained Earnings 35.500 Dividends 24.300 Sales 764,300 Sales Returns and Allowances 5 200 Cost of Goods Sold 488.000 Salaries Expense 148.000 Advertising Expense 26.400 Utilities Expense 14.000 Repair Expense 12.100 Delivery Expense 16.700 Rent Expense 28.000 Interest Expense 3.800 Totals $1,028.800 $1,028 800 Page 1 of 3 Instructions 1. Prepare the adjusting entries for these accounts: - Store supplies (Supplies expense - Accumulated Depreciation - Store Equipment Accumulated Depreciation - Delivery Equipment - Allowance for doubtful accounts (Bad debt expense - Note receivable (Interest revenue) - Note payable Interest expense) - Salaries expense Instructions 1. Prepare the adjusting entries for these accounts: Store supplies (Supplies expenset Accumulated Depreciation - Store Equipment - Accumulated Depreciation - Delivery Equipment Allowance for doubtful accounts (Bad debt expense - Note receivable (interest revenue) - Note payable (Interest expense) Salaries expense - Insurance Expense -COGS You need to set your own assumptions in order to asiat the accounts. Those assumptions should be in consistency with your trial balance. Example The trial balance is showing the following balance for Store Supplies Store Supplies Your assumption could be formulated as follows: 1-Store Supplies: An inventory count at the end of the year reveals that $2,100 of supplies are stil on hand So the cost of supplies used = 9.500-2.100-7,000 Adjusting entry for supplies De Supplies Expense 7.000 Cr. Store Supplies 7.000 You need to do same for the other adjustments. You can follow the textbook pages 36 103-16 2. Post the adjusting entries to the ledger 3. Prepare an adjusted trial balance Page 2 of 3 4- Prepare the worksheet 5. Prepare financial statements income statement retained eamings statement and statement of financial position (dassified) 6- Journalize and post the closing entries. 7. Prepare a post-dosing trial balance a Title Debit Credit Assumptions June 30, 2022 5 7,000 1. Supplies expense (9.100-2100) Store supplies Supplies left on hand 2100 7.000 2 0 9 50 Deprecation on store equipment is 600 a year, and 50 per month 2- Depreciation expense Accumulated Depreciation - Store Equipment 50 10 70 a 3. Depreciation expense Accumulated Depreciation - Delivery Equipment Deprecation on delivery equipment is 840 a year, and 70 per month 70 12 14 3000 4. Bad debt expense Allowance for doubtful accounts Sigma corporation estimates uncollectible receivables - 3000 3000 10,450 1 17 10 10 10 21 5. Cash Notes receivable Interest revenue Sigma corporation Tenda Beta Co a note of 10,000 with an interest of 9% on January 1 for 6 months 10,000 450 6 Note Payable Interest Expense Cash 10,000 150 21 Sigma corporation borrows 10,000 cash by signing a 136,6 month note dated December 30,2021 10,150 Accrued salaries were 2000 31 29 2.000 7- Salaries Experise Salaries Payable 2,000 27 20 55 8- Insurance Expense Prepaid Insurance On June 1st, Sigma paid 330 for 6 months fire insurance policy, coverage began on June 1st 35 30 31 1.400 9. Cost of goods sold Merchandise Inventory Through a physical count, merchandise inventry at the end of the company's fiscal year is 40,000 1,400 23