can you answer the questions from d to g please ?
after finishing part a to c
Task Khaled established his company on March 1,2017. During the first month of operations the following transactions occurred: Invested $100,000 cash in new business March 1 2 Purchased furniture for $10,000 cash 3 Purchased office equipment for $5,000 on account from IKEA Paid $2,000 cash utilities 4 Hired a manager at a salary of $4,000 per month, effective April 1 5 Rendered services for $7,000 on account 6 Rendered services for $6,000, received $4,000 cash and the remaining on account 7 Paid $800 for March office rent 8 Purchased land costing $35,000 9 10 Purchased supplies for $5,000, paid 50% cash and the remaining on account 11 Paid $1,200 cash for a one-year insurance policy 12 Paid $5,000 on account for IKEA (March 3) 13 Received $4,000 cash in advance for future services 14 Received $7,000 on account for services performed on March 6. 15 Took $12,000 from ADCB Bank on a note payable 16 Paid advertising expense $2,500 17 Billed customers $1,800 for services provided 18 Purchased Car for $25,000. Khaled paid $15,000 cash and signed a note payable for the Remaining balance 19 Khaled received dividends of $8,000 cash 20 Performed services for client on account $2,000 21 Collected $2,000 cash for services provided on Match 7 22 Purchased gas and oil for $700 cash 23 Purchased inventory for $1,500 on account 31 Paid $1,250 salaries of the month d) Journalize the following adjustments related to the end of March 31: (1pt) 1. Depreciation of the equipment for the month was $1,300 2. One-Twelfth of the insurance expired 3. An inventory count shows $2,000 of supplies on hand at March 3:1 All the unearned revenue was earned 4. e) Prepare an adjusted trial balance (1pts) f) Prepare an income statement, owners' equity statement and a balance sheet after adjustment (3.5pts) g) Calculate for ADCS the indicated ratios using the adjusted financial statements and compare them with the industry norms. (1pt) h) Answer the following questions by comparing your answers in part (h) to the industry norms: (1pt) 1. How liquid is the corporation? 2. Is the firm financing its assets through debts? 5,000 5.000 ccounts Payable S 2000 7,000 S 7.000 4,000 Accounts Recevable 5 35,000 Accounts Payable 2.500 $L200 s 1200 4,000 7,000 57,000 Accouns Recevable 12,000 Note Payable S12,000 s 2300 1800 10,000 2,000 S 2.000 %2,000 5 1,500 Accounts Payable 5 1500 s 1,300 $100 Prepaid insurance 200 5000-2000 expense S 4,000 Debit Credit Debit Credi Depreciation expense 46,800146,800 348,300,00 Reqf Depreciation expense Total Expenses Reqt Capital balance, Mar Less Drawings Capital balance, Mar 31 Khaled Balance Sheet As of Mar 31 Req f Req c Unadjusted BS Adjusted BS Assets Current Assets Cash 45,050 45,050 Accounts Receivable 3,800 3,800 1,500 1,500 Inventory Supplies 5,000 2,000 Prepaid Insurance 1,100 1,200 Total Current Assets 56,550 53,450 Fixed Assets Vehicle 25,000 25,000 Land 35,000 35,000 Furniture 10,000 10,000 Office Equipment 5,000 5,000 Accumulated Depreciation-Equipment 1,300 Total Fixed Assets 75,000 73,700 Total Assets 131,550 127,150 Liabilities & Stockholders Equit Current Liabilities 4,000 4,000 Accounts Payable Note Payable 22,000 22,000 Unearned Service Revenue 4,000 Total Current Liabilities 30,000 26,000 Owners Equit Capital 101,550 101,150 Total Liabilities&Stockholders Equity 131,550 127,150
