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25) please answer quickly i rate good! complete the general journal using the information provided above! On January 1. 2024, the general ledger of Freedom
25) please answer quickly i rate good!
On January 1. 2024, the general ledger of Freedom Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 Borrow s181, 000 from Captive Credit Corporation. The installaent note bears interest at 6x annually and matures in 5 years. Payeents of $1,953 are required at the end of each aonth for 60 months. January 4 Receive $31,190 fros custoners on accounts receivable. January 10 Pay cash on accounts payable, \$12,000. 3anuary is Pay cash for salaries, $29,009. January 30 . Frework sales for the month total $195,289. The cost of the units sold is $113,000. January 31 Pay the first monthly installent of $1,953 related to the \$191, 000 borroved on January 1. The following information is available on January 31, 2024. a. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the builing was purchased, the company estimated a service life of 10 years and a residual value of $24,400. b. The company estimates additional future uncollectible accounts of $2.252. c. Unpaid salaries at the end of January are $26.200. d. Accrued income taxes at the end of January are $8,100. January 1 Borrou $101,000 fron Captive Credit Corporation. The installent note bears interest at 6% annually and atures In 5 January a years. Payments of $1,953 are required at the end of each nonth for 69 months. Janyary January 15 Pay cash for salarles, $29,000. 3ansary 30 Firework sales for the nonth total $195,200. The cost of the units sold is $113, 600 . January 31 Pay the first monthly installeent of $1,953 related to the $101, 000 borrowed an January 1 . The following information is avallable on Jantary 31, 2024. a. Depreciation on the building for the month of January Is calculated using the straight-line method: At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $24,400. b. The company estimates additional future uncollectible accounts of $2.252. c. Unpald salarles at the end of January are $26,200. d. Accrued income taxes at the end of January are $8,100. e. The portion of Notes Payable (long-term) due within the next 12 months is reclassified as Notes Payable (current. The amount of the reclassification is $17.946. 1. Record each of the transactions listed above in the 'General journal' tab (these are shown as items 1 to 7 ) assuming a FFO perpetual Inventory system. Review the 'General Ledper' and the 'Irlal Balance' tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on January 31 , in the 'General Joumal' tab (these are shown as items 8 to 12 ). 3. Review the adjusted 'Trial Balance' as of Jansary 31,2024 , in the 'Trial Balance' tab., 4. Prepare a multiplesstep income statement for the period ended lamuary 31,7024 , in the "income Statement" tab. 5. Prepare a classified balance siheet as of January 31,2024 , in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 13 and 14 ). 7. Using the information from the requirements above, complete the 'Analysis' tab. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, in the first account field. Do not round intermediate calculations. Round your answers to the nearest wi Journal entry worksheet 814 Borrow $101,000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $1,953 are required at the end of each month for 60 months. Record the issuance of the long-term note payable. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Joun in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amo Journal entry worksheet 4567814 Receive $31,100 from customers on accounts receivable. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar Journal entry worksheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jou in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar an Journal entry worksheet 678.14 Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No lournal in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amoun Journal entry worksheet 7814 Firework sales for the month total $195,200. Sales include $65,100 for cash and $130,100 on account. Record the sale. Notet Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No in the first account fleld. Do not round intermedlate calculations. Round your answers to the nearest whole dolli Journal entry worksheet Firework sales for the month total $195,200. The cost of the units sold is $113,000. Record the cost of goods sold. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "N In the first account fleld. Do not round intermediate calculations. Round your answers to the nearest whole dolls Journal entry worksheet Pay the first monthly installment of $1,953 related to the $101,000 borrowed on January 1. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jot in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar an Journal entry worksheet $24,400. Record the adjusting journal entry for depreciation for the month. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jo in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar a Journal entry worksheet The company estimates additional future uncollectible accounts of $2,252. Record the adjusting entry for uncollectible accounts. The Recter Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Ree in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Journal entry worksheet 1578914 Unpaid salaries at the end of January are $26,200. Record the adjusting entry for salaries. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "N In the first account fleld. Do not round intermediate calculations. Round your answers to the nearest whole doll? Journal entry worksheet complete the general journal using the information provided above!
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