create a general journal with adjusting entries & closng entries , general ledger , incone statement , balance sheet and post trial closing balance

P 1 2 3 4 5 6 1 9 10 10 11 12 January 1 March 15 April 1 April 1 Apoll April 5 May 1 May 1 June 30 July 31 July 31 Sept 30 l October October October 31 Dec 1 Dec 31 Dec 31 Dec 31 Dec 31 31 Paid $12,700 in cash for costs related to research and development of new products aid last year's income tax liability Received $35,000 in cash in advance for services. The services will be provided over the course of months beginning on Dec 1 of this year Prepaid $42.000 for rent for the next 12 months and recorded the transaction as an asset Paid $25.000 in cash for long-term assets Purchased inventory for $19.000. Paid $2,000 in cash and recorded an Accounts Pavable for the remaining $17.000 Purchased a patent for $28.500 in cash Sold inventory on account for $115.000 The cost of the inventory was 526000 Also, paida sales commission on this sale of $8.000 Received the cash to settle $45.000 of the receivables recorded on May 1 parchased supplies for $5.000 in cash The accountant accidentally recorded the supplies in the Accounts Receivable account The accountant recorded an adjustment to correct the entry made in 108 so that the accounts will reflect what should have been recorded) Borrowed $15.000 from a local bank and sida Jen note payable promising to pay 10% interest per year interest is due and recorded on Dec issued 1000 common shares to investors for $40.000 Received $30.000 in cash relating to the Accounts Receivable in transactions P urchased marketable securities for $9.000 cash Employee salanes camed amounted to $21,000. The company paid 511 000 on Deel and the remainder will be paid on Jan 1 Income Tax for Year is $4.500 $2.500 ispad this year wid the reminder will be paid on March 15 of Year? Record the appropriate adjusting entry related to transaction Record the appropriate adjusting entry related to transaction $1000 of supplies are still on hand on Dec 31 Record the appropriate adjusting entry to reflect the supplies used during the year (Refer to transaction 10 Ibah a n lain the Nethedin 11 / Ver 13 16 Transaction Date January 1 March 15 Apel Event Paid $12.700 in cash for costs related to research and development of new products, Paid last year's income tax liability. Received 535.000 in cash in advance for services. The services will be provided over the course of 5 months beginning on Dec 1 of this year. Prepaid $42.000 for rent for the next 12 months and recorded the transaction as an asset I paid $25.000 in cash for long-term assets Purchased inventory for $19.000. Paid $2.000 in cash and recorded an Accounts Payable for the remaining $17,000. Purchased a patent for 528 500 in cash Sold inventory on account for $115,000. The cost of the inventory was 526,000. Also, paid a sales commission on this sale of $8.000 Received the cash to settle $45,000 of the receivables recorded on May 1 Purchased supplies for $5,000 in cash. The accountant accidentally recorded the supplies in the Accounts Receivable account The accountant recorded an adjustment to correct the entry made in 10a (so that the accounts will reflect what should have been recorded) Borrowed $15.000 from a local bank and sieneda 3 year note pavable promising to pay 10% interest per year interest is due and recorded on Dec 31). Issued 1000 common shares to investors for $40,000 Received $30.000 in cash relating to the Accounts Receivable in transaction Purchased marketable securities for 59.000 in cash. Employee salaries eamed amounted to $21,000. The company paid $11,000 on Dec 1 and the remainder will be paid on Jan 1 Year 2 Income Tax for Year 1 is $4,500 $2.500 is paid this year and the remainder will be paid on March 15 of Year 2 Record the appropriate adjusting entry related to transaction 3 Record the appropriate adjusting entry related to transaction 4 $1000 of supplies are still on hand on Dee 31. Record the appropriate adjusting entry to reflect the supplies used during the year. Refer to transaction 10.) April April 1 April May 1 May une 30 July 31 July 31 Sept30 October 1 October 1 October 31 Dec 1 Dec 31 Dec 31 Des 31 Dec 31 In 21 CLETE D E F G $80,000 6,500 20,000 25,000 34,700 10,500 15,000 $191,700 4 Assets 5 Cash 6 Marketable Securities 7 Accounts Receivable 8 Inventory 9 PP&E (net) 10 Intangible Assets 11 Other Long-Term Assets 12 Total Assets 13 14 Liabilities & Equity 15 Accounts Payable 16 Notes Payable 17 Unearned Revenue 18 Income Tax Payable 19 Common Stock 20 Retained Earnings 21 Total Liabilities & Equity $45,000 28,500 50,000 4,100 45,000 19,100 $191,700 P 1 2 3 4 5 6 1 9 10 10 11 12 January 1 March 15 April 1 April 1 Apoll April 5 May 1 May 1 June 30 July 31 July 31 Sept 30 l October October October 31 Dec 1 Dec 31 Dec 31 Dec 31 Dec 31 31 Paid $12,700 in cash for costs related to research and development of new products aid last year's income tax liability Received $35,000 in cash in advance for services. The services will be provided over the course of months beginning on Dec 1 of this year Prepaid $42.000 for rent for the next 12 months and recorded the transaction as an asset Paid $25.000 in cash for long-term assets Purchased inventory for $19.000. Paid $2,000 in cash and recorded an Accounts Pavable for the remaining $17.000 Purchased a patent for $28.500 in cash Sold inventory on account for $115.000 The cost of the inventory was 526000 Also, paida sales commission on this sale of $8.000 Received the cash to settle $45.000 of the receivables recorded on May 1 parchased supplies for $5.000 in cash The accountant accidentally recorded the supplies in the Accounts Receivable account The accountant recorded an adjustment to correct the entry made in 108 so that the accounts will reflect what should have been recorded) Borrowed $15.000 from a local bank and sida Jen note payable promising to pay 10% interest per year interest is due and recorded on Dec issued 1000 common shares to investors for $40.000 Received $30.000 in cash relating to the Accounts Receivable in transactions P urchased marketable securities for $9.000 cash Employee salanes camed amounted to $21,000. The company paid 511 000 on Deel and the remainder will be paid on Jan 1 Income Tax for Year is $4.500 $2.500 ispad this year wid the reminder will be paid on March 15 of Year? Record the appropriate adjusting entry related to transaction Record the appropriate adjusting entry related to transaction $1000 of supplies are still on hand on Dec 31 Record the appropriate adjusting entry to reflect the supplies used during the year (Refer to transaction 10 Ibah a n lain the Nethedin 11 / Ver 13 16 Transaction Date January 1 March 15 Apel Event Paid $12.700 in cash for costs related to research and development of new products, Paid last year's income tax liability. Received 535.000 in cash in advance for services. The services will be provided over the course of 5 months beginning on Dec 1 of this year. Prepaid $42.000 for rent for the next 12 months and recorded the transaction as an asset I paid $25.000 in cash for long-term assets Purchased inventory for $19.000. Paid $2.000 in cash and recorded an Accounts Payable for the remaining $17,000. Purchased a patent for 528 500 in cash Sold inventory on account for $115,000. The cost of the inventory was 526,000. Also, paid a sales commission on this sale of $8.000 Received the cash to settle $45,000 of the receivables recorded on May 1 Purchased supplies for $5,000 in cash. The accountant accidentally recorded the supplies in the Accounts Receivable account The accountant recorded an adjustment to correct the entry made in 10a (so that the accounts will reflect what should have been recorded) Borrowed $15.000 from a local bank and sieneda 3 year note pavable promising to pay 10% interest per year interest is due and recorded on Dec 31). Issued 1000 common shares to investors for $40,000 Received $30.000 in cash relating to the Accounts Receivable in transaction Purchased marketable securities for 59.000 in cash. Employee salaries eamed amounted to $21,000. The company paid $11,000 on Dec 1 and the remainder will be paid on Jan 1 Year 2 Income Tax for Year 1 is $4,500 $2.500 is paid this year and the remainder will be paid on March 15 of Year 2 Record the appropriate adjusting entry related to transaction 3 Record the appropriate adjusting entry related to transaction 4 $1000 of supplies are still on hand on Dee 31. Record the appropriate adjusting entry to reflect the supplies used during the year. Refer to transaction 10.) April April 1 April May 1 May une 30 July 31 July 31 Sept30 October 1 October 1 October 31 Dec 1 Dec 31 Dec 31 Des 31 Dec 31 In 21 CLETE D E F G $80,000 6,500 20,000 25,000 34,700 10,500 15,000 $191,700 4 Assets 5 Cash 6 Marketable Securities 7 Accounts Receivable 8 Inventory 9 PP&E (net) 10 Intangible Assets 11 Other Long-Term Assets 12 Total Assets 13 14 Liabilities & Equity 15 Accounts Payable 16 Notes Payable 17 Unearned Revenue 18 Income Tax Payable 19 Common Stock 20 Retained Earnings 21 Total Liabilities & Equity $45,000 28,500 50,000 4,100 45,000 19,100 $191,700