Could you please do the General Journals 1-15, the income statement, balance sheet, and the analysis question at the end? I know its a lot, im sorry. Thank you!
College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1, Cash $ 10,005 Accounts Receivable 2,000 Inventory 500 Prepaid Rent 600 Equipment 810 Accumulated Depreciation 110 Accounts Payable 1,500 Salaries and Wages Payable 300 Income Taxes Payable Common Stock 6,500 Retained Earnings 3,030 Sales Revenue 15,985 Cost of Goods Sold 8,900 Rent Expense 1,100 Salaries and Wages Expense 2,000 Depreciation Expense 110 Income Tax Expense Office Expense 1,400 The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 1,000 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50. College Coasters records its inventory using perpetual Inventory accounts and the FIFO cost flow method. During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below. a. Purchased 500 coasters on account from the regular supplier on 12/1 at a unit cost of $0.52, with terms of n/60. b. Purchased 1,000 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60. c. Sold 2,000 coasters on account on 12/3 at a unit price of $0.90. d. Collected $1,000 from customers on account on 12/4 e. Pald the supplier $1,600 cash on account on 12/18 f. Paid employees $500 on 12/23, of which $300 related to work done in November and $200 was for wages up to December 22. 9. Loaded 100 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona, Hawail. The sale was made FOB destination with terms of n/60. Other relevant information includes the following at 12/31: h. College Coasters has not yet recorded $200 of office expenses incurred in December on account 1. The company estimates that the equipment depreciates at a rate of $10 per month. One month of depreciation needs to be recorded. J. Wages for the period from December 23-31 are $100 and will be paid on January 15. k. The $600 of Prepaid Rent relates to a six-month period ending on May 31 of next year, 1. The company incurred $789 of income tax but has made no tax payments this year. m. No shrinkage or damage was discovered when the inventory was counted on December 31, n. The company did not declare dividends and there were no transactions involving common stock. General Requirement General Income Journal Balance Sheet Ledger Trial Balance Statement Analysis Prepare the journal entries to record the transactions (a) through (n). Review the accounts as shown in the General Ledger and Trial Balance tabs. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. However, you will need to enter the amount of the Equipment (Net of accumulated depreciation), Common stock and Retained earnings as of December 31. Unadjusted COLLEGE COASTERS Balance Sheet As of December 31 Income Statement Analysis > Requirement General General Trial Balance Income Journal Ledger Statement Balance Sheet Analysis Calculate the inventory turnover ratlo and days to sell, assuming that Inventory was $500 on January 1 of this year. (Use 365 days a year Round your intermediate calculations and final answers to 1 decimal place.) Inventory Tumover Ratio times per year Days to Sell days (Balance Sheet A
