Cups & Canes Company began operations on November 1, 2021. The main operating goal of the company is to well high and The company the perpetual every method and a Fronty The company tows a calendar year with adjuring entries made at the end of the accounting period. December 31. The company as the deciation Sar all deprecables. The company has decided the Allowanced to acc the end of the period, based on industry standards, the company believes of the balance in cable will uncollectible. The company purchases ice cream machines for sale only a chey carry them as every The company amply one is a sales, ley of 54000 per month and the other employee in the f manager with a salary of S6000 per month. Pagal processed on the last day of them and paid on the Following month. This on the November 30 pell with and Required bed Dember 1 1)Caps & Cases Company engaged in the following for November and December Besed the wing tracts on the Daily Tramactional Note Place din first credits woad but do NOT det dit http 1-Now The owner invested $150000he company in exchange 5.000 d of stack 1-Now The company purchased a computer system w 515000 and signed a and has an annual name of interest of P 13-Nov Purchased 15 octal of $1100 each acts:90, FOR Dorination Shipping of 5:30 was paid to the hipping company by the appopriate paty 17 Naval Sir the apples purchased on Number 4 20-Noveld 15 cream machines e 53000 each-scottens 11530, copy the of The pristes we shipped FOB Shipping Point Record the sales f 10.Nowed for the mouth of November, the fint pay the cones Roved the Sales Exey d. The x Federal Income Tax Rate-19% NC State Income Tax Re-1 FICA Tax Rate-769% Unemployed Tax Rate-6% on the find 57000 fub employees corning po you E-Eko Pad the employees that due to them bum the November 30 ponill, tous will be paid in January 1-Deche company owed 500000 from Bank of America by signing a 30-year, 47% same. The note repores anmol payment of $7397 begnining December 1, 2024 1-Dec Purchased a new delivery track to save customers on shipping. The total end of the Delivery Truck was 100000 4-dhe ne due from the November 13 purchase 5.De Declared and paid $4000 in cash divalent to the stockholders of the company De Purchased $100 of apples acone, em 20 15- 22 cm machines te 33300 charms 2:10:30 the copy 901 to find the cost of goods sold. Record the sadev 31-Doped pay for the month of December the test pay for the preced the Sales Expense The Federal Income Tax -15% NCS Income Tax Rat-10% FICA Tin Rae-7.6% Chemployment To Rate % on the 17000 of each employees canings per you 2) Pest all the Daily Transaction to the Ledger on the Ledger As of December 31, search revealed the following information. Record any cesary adjusting toles for the year on the Adjusting Katrien tab 1 The computer opuipment purchased on November 1 has 5-year life and an expected mandat pudrapey value of $1500 The seat pad on November 2 for two years being on November 1 The delivery wick perched on December has a 10-year he and an expected residual csalvagey value of 17000 Recond any had de expense for the year ended December 31 de round 4) Post all the Adjusting Entires to the Ledger on the Ledger ta 5) Based on the account balances in the ledger, create an adjusted trial balance on the Adjusted Trial Balata Based on the adjusted trial balas, prepare a multi-step income statement on the Ice Statement 7) Based on the adjusted trial balase, prepare the statement of stockholder equity on the Equity Statement Based on the adjusted trial balance, prepare the balance sheet on the Balance Sheetta Prepare the closing entries (DO NOT POST then to the ledger, jest produce the entries). When journaling, the act in the order they appear the Trial Balance. Da one entry for accounts, one for expand 10) Calculate the rat the atta for divided