answer for journal entry income and balance sheet

do the jounrla entry income statement and balance sheet

Now that operations for outdoor clinics and TEAM events are running smoothly. Suzie thinks of another area for business expension. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, Mu rain, fshing, or even diving up to 100 feet won't damage them. Suzle decides to have MU watches avaliabie for sale at the start of each clinic: The following transactions relate to purchases and sales of watches during the second half of 2025 . All watches are soid for $820 each Auguntiz: inomber i fold 72 watebet for $59,040 on accoint. Lite in December, the next generation of multiuse (MU in watches is released. in oddition to all of the features of the MU watch, the MU II watches are equlpped with a global positioning system (GPS) and have the ability to downloed and ploy sonces and videos off thr. watches is anly $100 per watch. 1. Recard each of the transactions listed above in the 'General Joumal' tab (these are shown as items 1 to 14 ), Review the "General Ledger' and the 'Trial balance' tahs to see the effect of the transactions on the account balances. 3. Anview the adjuited 'Trie Ealance' as of Decenber 31,2025. 4. Prepore an income statement fur the period ended December 31,2025 , in the 'Income 5tatioment tab. 5. Prepare a classifed byance sheet as of December 31,2025 in the 'Balance Sheet' tab