Credit Account Titles Debit 5,000 6,000 12,000 an 79,000 8,000 The following information applies to the questions displayed below OSTATOS Printers, Inc.) on January 1, 2019. The annual reporting period ends December 31. The trial Two classmates Jane and Aaliyah began operations of their t-shirt printing shop (J & A Cloth balance on January 1, 2020, follows: Account # 100 Cash 110 Accounts receivable 120 Supplies 130 Land 140 Equipment 141 Accumulated depreciation - Equipment 150 Other assets (not detailed to simplify) 210 Accounts payable 220 Wages payable 230 Interest payable 240 Income taxes payable 250 Long-term notes payable 300 Common stock (8,000 shares, $0.50 par value) 310 Additional paid-in capital 320 Retained earnings 400 Service revenue 540 Depreciation expense 520 Supplies expense 530 Wages expense 550 Interest expense 560 Income tax expense 570 Remaining expenses (not detailed to simplify) 7,000 4,000 79,000 18,000 109,000 109,000 Totals sortir 4. Prepare an Unadjusted Trial Balance as well as the Adjusted Trial Balance below, Trial Balance Worksheet January 2017 Account Name Unadjusted Trial Balance Adjustin Entries Debat Credit Adjusted Trial Balance Debit Credit Debit Credit Cash Totals 12 S. Prepare an income statement (including earnings per share), statement of stockholders equity, and balance sheet. (For the Statement or Stockholders' Equity and Balance Sheet Only, items to be deducted must be indicated with a minus sign. Round "Earnings per share" to 2 decimal places.) J & A Cloth Printers, Inc. Income Statement For the Month Ended January 31, 2020 Operating revenues: Operating expenses: Total operating expenses Operating income Other item: Pretax income Net income Earnings per share 13 J&A Cloth Printers, Ine. Statement of Stockholders' Equity For the Month Ended January 31, 2020 Additional Retained Stock Paid in Earnings Capital $ $ Total Stockholders' Equity Common Balance, January 1, 2017 $ Additional stock issuance Add: Net income Less: Dividends declared $ Balance, December 31, 2017 $ $ J & A Cloth Printers, Inc. Balance Sheet At January 31, 2020 Liabilities Current assets: Assets Current liabilities: $ Total current assets Total current liabilities Stockholders' equity s Net book value Other assets Total stockholders' equity Total liabilities and stockholders equity Total assets 15 29 w 3. Post the journal entries for the January transactions from GJI and the January 31 adjusting entries from GJ2 to the respective General Ledger Accounts (T-Accounts) Account #100 - Cash Debit Credit Ref Balance Description or Explanation Date Jan 1 1 Beginning Balance 5,000 Borrowed cash and issued a note payable GJI 15.000 purchased land for cash $ revenues carrod IG1 b1000 10 sold shares of captiul thick fix cos 61 4500 12 remaining a peries incurred G01 13 collected accounts revienoble GX 33000 14 purchased other assets for cash GJ 1 1 paid accounts payable IGJ1 30 Dedored and paid coch diudad GJ 1 5,000 20,000 12000 8000 169 000 173500 190000 83500 116500 14500 102000 4 000 78000 a5 000 53000 200 Account w110 - Accounts Receivable Ref. Debit Credit Balance 6000 Date Description or Explanation Jan Beginning Balance 8 revenues earned GJ1 53000 13 collected accounts reciend GS1 59000 33000 26000 Account #120 - Supplies Ref. Debit Credit Date Description or Explanation Jan Beginning Balance 1 Balance 12000 20 000 15 purchased supplies on account ) 1 31 (adjusting only for supplies 62 used) 32000 122000 10 000 Account #130 - Land Ref. Debit Credit Balance Date Description or Explanation Jan Beginning Balance 4 Durchased and for cash 12000 12000 12000 of Account W140 - Equipment Ref. Debit Credit Date Description or Explanation Jan Beginning Balance Balance 79000 99000 Account #141 - Accumulated depreciation - Equipment Ref. Debit Credit Balance Date Description or Explanation Jan Beginning Balance 8000 9000 17000 G) 2 31. adjusted entry for depreuation on equipment Account #150 - Other assets Ref. Debit Credit Balance Date Description or Explanation Jan Beginning Balance 7000 21500 14500 14 purchased other assets for cash 631 Account #210 - Accounts Payable Ref. Debit Credit Balance Date Description or Explanation Jan Beginning Balance 12 remaining expenses inned 15 purchased supplies on ALLAR GJ1 Il paid accounts payable 122000 22000 20000 42000 la4000 18 000 Account #220 - Wages Payable Date Description or Explanation Jan Beginning Balance Ref. Debit Credit Balance 31 (adjusting entry for wages canned 632 but not yet paid) IS000 15000 Account #230 - Interest Payable Description or Explanation Jan Beginning Balance Date Ref. Debit Credit Balance 131 Cadjusting entry for interest 612 100 100 Account W240 - Income Taxes Payable Ref. Date Description or Explanation Jan Beginning Balance Debit Credit Balance 31 (adjusted entry for income GJ2 tax payable) 12000 12000 Account N250 - Long-Term Notes Payable Ref. Debit Credit Balance Date Description or Explanation Jan Beginning Balance | GJA ISOOO IS000 Borrowed cash and issued note payable Account W300 - Common Stock Ref Debit Credit Balance Date Description or Explanation Jan Beginning Balance 4000 2250_6250 10 sold shares of capital Stock for each Account #310 - Additional Paid In Capital Ref Debit Credit Balance Date Description or Explanation Jan Beginning Balance 79000 81 250 2250 10 sold shares of capital sok G31 for cash Account W320 - Retained Earnings Credit Balance Date Description or Explanation Ref. Debit Jan Beginning Balance 1 30 Declared and paid cash dividend G1 25000 31 Closing erstry 18000 C7 DOO 43900 369.00 2000 2000 Ref Debit Credit Balance Account #400-Service Revenue Date Description or Explanation Jan Beginning Balance 8 revenues camned 31 Closing only 214000 24OCO 214.000 Debit Credit Balance Account W540 - Depreciation Expense Date Description or Explanation Ref Jan Beginning Balance 31 Cajus tvy GS 2 31 closing entry 9000 9000 Debit Credit Balance Date Account #520 - Supplies Expense Description or Explanation Ref. Jan Beginning Balance 31 Cadsusting en hou suppliciuseb G2 31 closing entry 22.000 22.000 22.00 Account 530 - Wages Expense Date Ref. Debit Credit Balance Description or Explanation Jan Beginning Balance 31 (odjusted enting for income 31 closing entry 15 000 A SODO ISOOO 10 mars Debit Credit Balance Account #550 - Interest Expense Date Description or Explanation Rel Jan Beginning Balance 31 (adjusting entry for GS2 31 Closingenmy 100 100 100 Account #560 - Income Tax Expense -- Debit Credit Balance Date Description or Explanation Ref. Jan Beginning Balance 3 (adjusting entry for incong GS 2 3 closing the 12.000 12000 12000 Account #570 - Remaining Expense Ref. Debit Credit Balance Date Description or Explanation Jan Beginning Balance 12 remaining expense inawed 31 Closing entry 112000 12000 U12000