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c can someone help me with this T accounts (ledger) PART 2: The for Palmer creative Designs are provided. Also, the end-of- month adjustments are
c
can someone help me with this T accounts (ledger)
PART 2: The for Palmer creative Designs are provided. Also, the end-of- month adjustments are as follows: a. The supplies were purchased on January 1, 2016; as of January 31, 20 $1,100 of the supplies were left. b. The prepaid advertising contract was signed on January 1, 2016, and covers a four month period. c. The rent was paid for the entire year on January 1, 2016. d. Depreciation is computed using the method. The equipment has an estimated useful life of 10 years with no salvage value. Instructions: 1. Prepare the Trial Balance for Palmer creative Designs for January 31, 2016. 2. Record the adjusting entries in the jounal. 3. Post the adjusting entries to the T-Accounts. 4. Prepare the Adjusted Trial Balance for Palmer Creative Designs for January 31, 2016. 5. Prepare the Income Statement, Statement of Owner's Equity, and Balance Sheet for the month ended January 31, 2016. Check figure: Total Assets $94,520Step by Step Solution
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