Can someone please help me prepare these transactions for general journal? Thank you if you can do them all thatd be awesome but if not atleast need 36-52!
Can someone help me with these entries ASAP!!
Formulas Dad NEVI VI File Home Insert Page Layout X Cut Arial - 10 De Copy Paste BIU Format Painter A === Wrap Text BA *Merge & Center Font Alignment Clipboard E16 B Byte of Accounting The Byte of Accounting Corporation was started by Lauryn on January 1st of last year and she was the only stockholder. They sell turn-key computer systems to midsize businesses. They do not physically inventory any hardware as everything that clients want are drop shipped directly from the suppliers to the client's location. Upon delivery of the hardware Byte is notified and Byte's employees install, modify and test the new items. Description of transaction December 1: Braedon O'Donnell made an investment in Byte of Accounting, Inc., by purchasing 2,800 shares of its common stock paying $81,200.00 in cash. The par value of the common stock was $24.00 per share. 01. 02 0 1 December 3: Purchased a Ricoh Color copier for $4,700.00. The invoice number was 61298. We paid 10% and signed a 3 year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. December 3: Check # 6001 for $2,500.00 was paid for rent of the office space for December. Rent is journalized to the prepaid rent account. 03. 2 04. December 3: In response to requests from our customers we have decided to purchase and install Super Toners at our clients locations. We received 11 Super Toners for resale to our customers at a cost of $26.00 per toner. The Invoice number was 7249, and we will pay them within 30 days. 4 05. December 10: Sold 6 Super toners to a customer on account for $56.00 each. The Sales order number was 12100, record the Sales Revenue. 7 06. December 10: Sold 6 Super toners to a customer on account for $56.00 each, The Sales order number was 12100. record the Cost of Goods Sold, using FIFO. 3 07 December 11: Check # 6002 was used to pay salaries of $2,050.00 to equipment operators. Ignore payroll taxes. 1 08. 2 December 14: Check # 6003 was used to purchase a one-year insurance policy covering its computer equipment for $6,648.00 from Seth's Insurance. The effective date of the policy was December 16 and the invoice number was 2387. Transactions Adjusting Transactions Closing Transactions General Jour Pan Data Formulas View Review CD File Home Insert Page Layout Arial - 10 IP Wrap Text -A A X Cut Eg Copy Format Painter Clipboard Merge & Center BLUE-A Font Alignment E16 A 09. December 15: Lauryn paid $2.476.00 for airline tickets to send the kids to Grandma Ellen's for the holiday. 24 25 10 December 16: Received 5 Super Toners for resale to our customers. The cost was $28.00 per toner. The Invoice number was 7359, and we will pay them within 30 days. 27 11. December 17: We were informed that Mr. Madoff who has an account with us will never pay the S616.00 he owes us. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 28 29 12. December 17: Received invoice number 26354 in the amount of $775.00 from the local newspaper for advertising. 30 31 13. December 18: Check # 6004 was used to pay Accounts Payable in the amount of 5620.00 22 33 14. December 19: Sold 9 Super toners to a customer on account for $56.00 each. The Sales order number was 12100, record the Sales Revenue. 35 15. December 19: Sold 9 Super toners to a customer on account for $56.00 each. The Sales order number was 12100, record the Cost of Goods Sold, using FIFO. 36 37 38 39 16. December 21: Record the cost of computers for various customers on account, S6,700.00. 17 December 21: Billed various miscellaneous local customers $13,400.00 for computers that cost us $6,700.00, record the Sales Revenue. 40 18. December 21: Billed various miscellaneous local customers $13,400.00 for computers that cost us $6,700.00, record the Cost of Goods Sold. 42 19. December 22: Check # 6005 was used to pay salaries of $2,050.00 to equipment operators. Ignore payroll taxes. 44 20, December 22: Received a bill for $1.265.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 46 47 21. 48 December 22: Check # 6006 was used to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. Transactions Adjusting Transactions Closing Transactions General Jo Ready Review View Tell me what you Data Formulas File Home Insert Page Layout X cut Arial 10 Hla Copy BTU Format Painter Clipboard Font & A. PWrap Text Merge & Center Alignment E16 23. December 23: Cash from customers in the amount of $20.775.00 was received on billings 53 54 24 December 23: Record the cost of computers for various customers on account, $7.950.00 25. December 28: Billed various miscellaneous local customers 515,900.00 for computers that cost us $7.950.00, record the Sales Revenue. 56 26. December 28: Billed various miscellaneous local customers $15.900.00 for computers that cost us $7.950.00, record the Cost of Goods Sold. 59 27 December 28: Paid the bill that was previously received and recorded from Computer Parts and Repairs Co with Check # 6007. The invoice number was 43251. 60 61 52 fa 28. December 29: Cash from customers in the amount of $14.125.00 was received on billings. 29. December 29: Received a bill for the amount of $480.00 from AT&T for the telephone. The invoice number was 784537. 55 30. December 30: Check # 6008 was used to pay salaries of $2,050.00 to equipment operators. Ignore payroll taxes. 16 7 31. December 30: Check # 6009 was used to pay was used to pay for a cash dividend of $.45 per share to Lauryn, a shareholder of Byte. 8 9 32. December 30: Check # was used to pay was used to pay for a cash dividend of S.45 per share to Braedon O'Donnell, a shareholder of Byte. D 1 33. December 30: Received a $7,965.00 check from O'Donnell Corporation for merchandise ordered which will be delived January 16th. se more: THE WORK per Tat we verore you are was not very goou. nenever created a Trial Balance and after he left we realized that he neglected to record the issuances of the bond issued on January 1 of this year and the recording of the interest payment on June 30. Since we do not make entries into "closed" periods record the entries as of 341 December 31: On January 1, Byte received $118,182.90 when they issued a $110,000.00,7%, 10 year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. Transactions Adjusting Transactions Closing Transactions General Jo Format Painter Clipboard Font Alignment fo E16 31. December 30: Check # 6009 was used to pay was used to pay for a cash dividend of $.45 per share to Lauryn, a shareholder of Byte. 68 69 32 December 30: Check # was used to pay was used to pay for a cash dividend of 8.45 per share to Brandon O'Donnell, a shareholder of Byte. 70 71 33 72 73 December 30: Received a $7,965.00 check from O'Donnell Corporation for merchandise ordered which will be delived January 16th. Tease note: Reperm were you are was mor very goou. nenever created a Trial Balance and after he left we realized that he neglected to record the issuances of the bond issued on January 1 of this year and the recording of the interest payment on June 30. Since we do not make entries into "closed" periods record the entries as of 74 75 34. December 31: On January 1, Byte received $118,182.90 when they issued a $110,000.00.7% 10 year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. TO 77 35. December 31: Please record the timely interest payment for the bond using the straight line method that was made on June 30th, with check # 5367. This entry was never recorded.. 78 179 36. December 31: Please record the timely interest payment for the bond using the straight line method that was made on December 31st, with check # 6010. 80 81 A. Post your journal entries to the general ledger and prepare the Unadjusted Trial Balance as of December 31st B Make sure your work is correct by uploading to Cybertext. 82 83 84 85 06 87 88 B9 90 91 92 03 Transactions Adjusting Transactions Closing Transactions General Ready Type here to search File Home Page Layout Insert Formulas View Data Review Tell me what you want to do Arial 10 - Custom Wrap Text X Cut I copy Format Painter Clipboard + Merge & Center Font Alignment Number A1 The monthly rent payment is $2,500.00. Expense the amount associated with twelve month's rent. 8 9 38. A physical inventory showed that only $782.00 worth of general office supplies remained on hand as of December 31. 10 39. The interest on the note for the Ricoh Color copier will be paid every six months. Record the December accrued interest on the note payable for the Ricoh purchase on December 1". 12 13 40. Record a journal entry to reflect that one half month's insurance has expired. 14 25 41 A review of Byte's job worksheets show that there are unbilled revenues in the amount of $7,190.00 for computers that cost $3,595.00, record the cost of the computers on account. 6 7 12. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $7,190.00 for computers that cost $3,595,00, record the Sales Revenue from the computers. 3 43. A review of Byte's job worksheets show that there are unbilled revenges in the amount of S7,190.00 for computers that cost $3,595.00, record the Cost of Goods Sold of the competers. 44. Management has decided that assets purchased during a mouth are treated as if purchased on the first day of the month. The computer equipment was purchased last January for $20,500.00 and it has an estimated useful life of 5.0 years with so salvage value. Calculate the depreciation for one year using the straight-line method of depreciation. The Ricoh Color ronier, nart of the office enwinment is estimated to be able to make 480.000 conies Transactions Adjusting Transactions Closing Transactions General Journal Gent 4 Type here to search O RE Data Review View Tell me what you want to do. Custom NA File Home Insert Page Layout Formulas X Cut Arial - 10 la Copy - Paste u Format Painter Clipboard Font Weap Text Merge Center Number Alignment A1 B and it has an estimated useful life of 5.0 years with no salvage value. Calculate the depreciation for one year using the straight line method of depreciation. 4 The Ricoh Color copier, part of the office equipment, is estimated to be able to make 480,000 copies and have a salvage value of $500.00. During December 8,250 copies were made. Calculate the depreciation for one year using the activity based method of depreciation. The remaining office equipment, 566,100.00, was purchased last January and has an estimated useful life of 10.0 years with a salvage value of $3,100.00. Calculate the depreciation for one year using the straight-line method of depreciation. A review of the payroll records show that unpaid salaries in the amount of S1,230.00 are owed by Byte for three days, December 28 - 31. Ignore payroll taxes, 48. Our CPA has informed us to estimate that 5.00% of the outstanding Accounts Receivable will be acollectable. Record the bad debt expense using the allowance method. 49. Income taxes are to be computed at the rate of 25 percent of met income before taxes. [IMPORTANT NOTE: Since the income taxes are a percent of the set income you will want to prepare the Income Statements through the Net Income Before Tax line. . Post your adjusting journal entries to the general ledger and prepare the Adjusted Trial Balance as of December 31st. B Using the Adjusted Trial Balance as of December 31st as a reference, prepare the Income Statement, Statement of Stockholder's Equity, Balance Sheet and Statement of Cash Flows. Gen Transactions Adjusting Transactions Closing Transactions General Journal Type here to search O BE Formulas Data Review View Tell me what you want to do Custom Arial Wrap Text Merge & Center - an O A - % File Home Insert Page Layout X cut - 10 Copy BIU- Formatter Ciboard Font A1 > f Alignment Nube B 4 Closing Entries Record the closing entries to Retained Earnings in the general journal a 5 6 7 8 50. Close the revenue accounts. 9 10 51. Close the expense accounts. 11 12 13 52. Close the dividend account. 14 D Prepare the Post Closing Trial Balance 15 16 E 17 18 19 20 Complete the Ratio Analysis Current Ratio Receivable Turnover Average Collection Period Inventory Turnover Average Days in Inventory Gross Profit Rate Profit Margin Earnings per Share (EPS) 21 22 23 24 25 26 27 - Transactions Adjusting Transactions Closing Transactions eady General Journal Elf Village Productions Legal Pad Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Aceum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2202 Notes Payable 2210 Bond Payable X 2212 Premium on Bond Payable 3100 Capital Stock 3120 Paid in Capital in Excess of Par 3200 Retained Earnings 3300 Dividends 4100 Sales Revenue 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone Expense 5150 Income Tax Expense 5300 Cost of Goods Sold 5301 Error Normal Balance Debit Debit Credit Debit Debit Dehit Debit Debit Credit Debit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Debit Credit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Paste LA Cell Styles Styles Number Clipboard Alignment Font A1 fx D E Unadjusted Trial Balance Debit Credit 57,775.00 26,000.00 $ 1,500.00 30,000.00 2.700.00 66,100.00 6,300.00 20,500.00 4,100.00 3.665.00 A B 5 6 Account 7 Number Name 8 1110 Cash 9 1120 Accounts Receivable 10 1121 Allowance for Doubtful Accounts 11 1130 Prepaid Insurance 12 1140 Prepaid Rent 13 1150 Office Supplies 14 1160 Inventory 15 1211 Office Equipment 16 1212 Accum. Depr.-Office Equip 17 1311 Computer Equipment 18 1312 Accum Depr.-Computer Equip 19 2101 Accounts Payable 20 2102 Advanced Payments 21 2103 Interest Payable 22 2105 Salaries Payable 23 2106 Income Taxes Payable 24 2202 Notes Payable 25 3100 Capital Stock 26 3120 Paid in Capital in Excess of Par 27 3200 Retained Earnings 28 3300 Dividends 29 30 4100 Sales Revenue 31 5010 Rent Expense 32 5020 Salary Expense 33 5030 Advertising Expense 34 5040 Repairs & Maint. Expense 35 5080 Supplies Expense 36 5090 Interest Expense 37 5100 Insurance Expense 38 5110 Depreciation Expense 39 5120 Bad Debt Expense 40 5140 Telephone Expense 41 5150 Income Tax Expense 42 5300 Cost of Goods Sold 43 Total 55,200.00 11,500.00 24,000.00 420,000.00 90,200.00 3,960.00 13.640.00 5,390.00 210 000 00 526,265.00 526 265.00 Trial Balance Nov. 30 Transactions Adjusting Ready Formulas Dad NEVI VI File Home Insert Page Layout X Cut Arial - 10 De Copy Paste BIU Format Painter A === Wrap Text BA *Merge & Center Font Alignment Clipboard E16 B Byte of Accounting The Byte of Accounting Corporation was started by Lauryn on January 1st of last year and she was the only stockholder. They sell turn-key computer systems to midsize businesses. They do not physically inventory any hardware as everything that clients want are drop shipped directly from the suppliers to the client's location. Upon delivery of the hardware Byte is notified and Byte's employees install, modify and test the new items. Description of transaction December 1: Braedon O'Donnell made an investment in Byte of Accounting, Inc., by purchasing 2,800 shares of its common stock paying $81,200.00 in cash. The par value of the common stock was $24.00 per share. 01. 02 0 1 December 3: Purchased a Ricoh Color copier for $4,700.00. The invoice number was 61298. We paid 10% and signed a 3 year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. December 3: Check # 6001 for $2,500.00 was paid for rent of the office space for December. Rent is journalized to the prepaid rent account. 03. 2 04. December 3: In response to requests from our customers we have decided to purchase and install Super Toners at our clients locations. We received 11 Super Toners for resale to our customers at a cost of $26.00 per toner. The Invoice number was 7249, and we will pay them within 30 days. 4 05. December 10: Sold 6 Super toners to a customer on account for $56.00 each. The Sales order number was 12100, record the Sales Revenue. 7 06. December 10: Sold 6 Super toners to a customer on account for $56.00 each, The Sales order number was 12100. record the Cost of Goods Sold, using FIFO. 3 07 December 11: Check # 6002 was used to pay salaries of $2,050.00 to equipment operators. Ignore payroll taxes. 1 08. 2 December 14: Check # 6003 was used to purchase a one-year insurance policy covering its computer equipment for $6,648.00 from Seth's Insurance. The effective date of the policy was December 16 and the invoice number was 2387. Transactions Adjusting Transactions Closing Transactions General Jour Pan Data Formulas View Review CD File Home Insert Page Layout Arial - 10 IP Wrap Text -A A X Cut Eg Copy Format Painter Clipboard Merge & Center BLUE-A Font Alignment E16 A 09. December 15: Lauryn paid $2.476.00 for airline tickets to send the kids to Grandma Ellen's for the holiday. 24 25 10 December 16: Received 5 Super Toners for resale to our customers. The cost was $28.00 per toner. The Invoice number was 7359, and we will pay them within 30 days. 27 11. December 17: We were informed that Mr. Madoff who has an account with us will never pay the S616.00 he owes us. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 28 29 12. December 17: Received invoice number 26354 in the amount of $775.00 from the local newspaper for advertising. 30 31 13. December 18: Check # 6004 was used to pay Accounts Payable in the amount of 5620.00 22 33 14. December 19: Sold 9 Super toners to a customer on account for $56.00 each. The Sales order number was 12100, record the Sales Revenue. 35 15. December 19: Sold 9 Super toners to a customer on account for $56.00 each. The Sales order number was 12100, record the Cost of Goods Sold, using FIFO. 36 37 38 39 16. December 21: Record the cost of computers for various customers on account, S6,700.00. 17 December 21: Billed various miscellaneous local customers $13,400.00 for computers that cost us $6,700.00, record the Sales Revenue. 40 18. December 21: Billed various miscellaneous local customers $13,400.00 for computers that cost us $6,700.00, record the Cost of Goods Sold. 42 19. December 22: Check # 6005 was used to pay salaries of $2,050.00 to equipment operators. Ignore payroll taxes. 44 20, December 22: Received a bill for $1.265.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 46 47 21. 48 December 22: Check # 6006 was used to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. Transactions Adjusting Transactions Closing Transactions General Jo Ready Review View Tell me what you Data Formulas File Home Insert Page Layout X cut Arial 10 Hla Copy BTU Format Painter Clipboard Font & A. PWrap Text Merge & Center Alignment E16 23. December 23: Cash from customers in the amount of $20.775.00 was received on billings 53 54 24 December 23: Record the cost of computers for various customers on account, $7.950.00 25. December 28: Billed various miscellaneous local customers 515,900.00 for computers that cost us $7.950.00, record the Sales Revenue. 56 26. December 28: Billed various miscellaneous local customers $15.900.00 for computers that cost us $7.950.00, record the Cost of Goods Sold. 59 27 December 28: Paid the bill that was previously received and recorded from Computer Parts and Repairs Co with Check # 6007. The invoice number was 43251. 60 61 52 fa 28. December 29: Cash from customers in the amount of $14.125.00 was received on billings. 29. December 29: Received a bill for the amount of $480.00 from AT&T for the telephone. The invoice number was 784537. 55 30. December 30: Check # 6008 was used to pay salaries of $2,050.00 to equipment operators. Ignore payroll taxes. 16 7 31. December 30: Check # 6009 was used to pay was used to pay for a cash dividend of $.45 per share to Lauryn, a shareholder of Byte. 8 9 32. December 30: Check # was used to pay was used to pay for a cash dividend of S.45 per share to Braedon O'Donnell, a shareholder of Byte. D 1 33. December 30: Received a $7,965.00 check from O'Donnell Corporation for merchandise ordered which will be delived January 16th. se more: THE WORK per Tat we verore you are was not very goou. nenever created a Trial Balance and after he left we realized that he neglected to record the issuances of the bond issued on January 1 of this year and the recording of the interest payment on June 30. Since we do not make entries into "closed" periods record the entries as of 341 December 31: On January 1, Byte received $118,182.90 when they issued a $110,000.00,7%, 10 year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. Transactions Adjusting Transactions Closing Transactions General Jo Format Painter Clipboard Font Alignment fo E16 31. December 30: Check # 6009 was used to pay was used to pay for a cash dividend of $.45 per share to Lauryn, a shareholder of Byte. 68 69 32 December 30: Check # was used to pay was used to pay for a cash dividend of 8.45 per share to Brandon O'Donnell, a shareholder of Byte. 70 71 33 72 73 December 30: Received a $7,965.00 check from O'Donnell Corporation for merchandise ordered which will be delived January 16th. Tease note: Reperm were you are was mor very goou. nenever created a Trial Balance and after he left we realized that he neglected to record the issuances of the bond issued on January 1 of this year and the recording of the interest payment on June 30. Since we do not make entries into "closed" periods record the entries as of 74 75 34. December 31: On January 1, Byte received $118,182.90 when they issued a $110,000.00.7% 10 year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. TO 77 35. December 31: Please record the timely interest payment for the bond using the straight line method that was made on June 30th, with check # 5367. This entry was never recorded.. 78 179 36. December 31: Please record the timely interest payment for the bond using the straight line method that was made on December 31st, with check # 6010. 80 81 A. Post your journal entries to the general ledger and prepare the Unadjusted Trial Balance as of December 31st B Make sure your work is correct by uploading to Cybertext. 82 83 84 85 06 87 88 B9 90 91 92 03 Transactions Adjusting Transactions Closing Transactions General Ready Type here to search File Home Page Layout Insert Formulas View Data Review Tell me what you want to do Arial 10 - Custom Wrap Text X Cut I copy Format Painter Clipboard + Merge & Center Font Alignment Number A1 The monthly rent payment is $2,500.00. Expense the amount associated with twelve month's rent. 8 9 38. A physical inventory showed that only $782.00 worth of general office supplies remained on hand as of December 31. 10 39. The interest on the note for the Ricoh Color copier will be paid every six months. Record the December accrued interest on the note payable for the Ricoh purchase on December 1". 12 13 40. Record a journal entry to reflect that one half month's insurance has expired. 14 25 41 A review of Byte's job worksheets show that there are unbilled revenues in the amount of $7,190.00 for computers that cost $3,595.00, record the cost of the computers on account. 6 7 12. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $7,190.00 for computers that cost $3,595,00, record the Sales Revenue from the computers. 3 43. A review of Byte's job worksheets show that there are unbilled revenges in the amount of S7,190.00 for computers that cost $3,595.00, record the Cost of Goods Sold of the competers. 44. Management has decided that assets purchased during a mouth are treated as if purchased on the first day of the month. The computer equipment was purchased last January for $20,500.00 and it has an estimated useful life of 5.0 years with so salvage value. Calculate the depreciation for one year using the straight-line method of depreciation. The Ricoh Color ronier, nart of the office enwinment is estimated to be able to make 480.000 conies Transactions Adjusting Transactions Closing Transactions General Journal Gent 4 Type here to search O RE Data Review View Tell me what you want to do. Custom NA File Home Insert Page Layout Formulas X Cut Arial - 10 la Copy - Paste u Format Painter Clipboard Font Weap Text Merge Center Number Alignment A1 B and it has an estimated useful life of 5.0 years with no salvage value. Calculate the depreciation for one year using the straight line method of depreciation. 4 The Ricoh Color copier, part of the office equipment, is estimated to be able to make 480,000 copies and have a salvage value of $500.00. During December 8,250 copies were made. Calculate the depreciation for one year using the activity based method of depreciation. The remaining office equipment, 566,100.00, was purchased last January and has an estimated useful life of 10.0 years with a salvage value of $3,100.00. Calculate the depreciation for one year using the straight-line method of depreciation. A review of the payroll records show that unpaid salaries in the amount of S1,230.00 are owed by Byte for three days, December 28 - 31. Ignore payroll taxes, 48. Our CPA has informed us to estimate that 5.00% of the outstanding Accounts Receivable will be acollectable. Record the bad debt expense using the allowance method. 49. Income taxes are to be computed at the rate of 25 percent of met income before taxes. [IMPORTANT NOTE: Since the income taxes are a percent of the set income you will want to prepare the Income Statements through the Net Income Before Tax line. . Post your adjusting journal entries to the general ledger and prepare the Adjusted Trial Balance as of December 31st. B Using the Adjusted Trial Balance as of December 31st as a reference, prepare the Income Statement, Statement of Stockholder's Equity, Balance Sheet and Statement of Cash Flows. Gen Transactions Adjusting Transactions Closing Transactions General Journal Type here to search O BE Formulas Data Review View Tell me what you want to do Custom Arial Wrap Text Merge & Center - an O A - % File Home Insert Page Layout X cut - 10 Copy BIU- Formatter Ciboard Font A1 > f Alignment Nube B 4 Closing Entries Record the closing entries to Retained Earnings in the general journal a 5 6 7 8 50. Close the revenue accounts. 9 10 51. Close the expense accounts. 11 12 13 52. Close the dividend account. 14 D Prepare the Post Closing Trial Balance 15 16 E 17 18 19 20 Complete the Ratio Analysis Current Ratio Receivable Turnover Average Collection Period Inventory Turnover Average Days in Inventory Gross Profit Rate Profit Margin Earnings per Share (EPS) 21 22 23 24 25 26 27 - Transactions Adjusting Transactions Closing Transactions eady General Journal Elf Village Productions Legal Pad Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Aceum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2202 Notes Payable 2210 Bond Payable X 2212 Premium on Bond Payable 3100 Capital Stock 3120 Paid in Capital in Excess of Par 3200 Retained Earnings 3300 Dividends 4100 Sales Revenue 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone Expense 5150 Income Tax Expense 5300 Cost of Goods Sold 5301 Error Normal Balance Debit Debit Credit Debit Debit Dehit Debit Debit Credit Debit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Debit Credit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Paste LA Cell Styles Styles Number Clipboard Alignment Font A1 fx D E Unadjusted Trial Balance Debit Credit 57,775.00 26,000.00 $ 1,500.00 30,000.00 2.700.00 66,100.00 6,300.00 20,500.00 4,100.00 3.665.00 A B 5 6 Account 7 Number Name 8 1110 Cash 9 1120 Accounts Receivable 10 1121 Allowance for Doubtful Accounts 11 1130 Prepaid Insurance 12 1140 Prepaid Rent 13 1150 Office Supplies 14 1160 Inventory 15 1211 Office Equipment 16 1212 Accum. Depr.-Office Equip 17 1311 Computer Equipment 18 1312 Accum Depr.-Computer Equip 19 2101 Accounts Payable 20 2102 Advanced Payments 21 2103 Interest Payable 22 2105 Salaries Payable 23 2106 Income Taxes Payable 24 2202 Notes Payable 25 3100 Capital Stock 26 3120 Paid in Capital in Excess of Par 27 3200 Retained Earnings 28 3300 Dividends 29 30 4100 Sales Revenue 31 5010 Rent Expense 32 5020 Salary Expense 33 5030 Advertising Expense 34 5040 Repairs & Maint. Expense 35 5080 Supplies Expense 36 5090 Interest Expense 37 5100 Insurance Expense 38 5110 Depreciation Expense 39 5120 Bad Debt Expense 40 5140 Telephone Expense 41 5150 Income Tax Expense 42 5300 Cost of Goods Sold 43 Total 55,200.00 11,500.00 24,000.00 420,000.00 90,200.00 3,960.00 13.640.00 5,390.00 210 000 00 526,265.00 526 265.00 Trial Balance Nov. 30 Transactions Adjusting Ready
