General Journal tab $-$ Prepare the journal entries to record each transaction. Review the accounts as shown in the General Ledger and Trial Balance tabs$.$

General Ledger tab $-$ Each journal entry is posted automatically to the general ledger.

Trial Balance tab $-$ The option you choose will be the values used to populate the balance sheet tabs$.$

Balance Sheet tab $-$ Prepare the noncurrent liabilities and stockholders$$ equity sections of the balance sheet at December $31.$ At the end of the year, the adjusted net income was $$20,000.$

General Journal tab $-$ Prepare a closing journal entry for the income statement accounts, assuming the events on December $2931$ were the only transactions to affect income statement accounts.

General Journal tab $-$ After preparing the financial statements, record the closing entry for Dividends.

Impact on Debt to Assets Ratio tab $-$ Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio.eBook

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References

Bender Industries, reported the following account balances on January $1.$

The company entered into the following transactions during the year.

January $15$ Issued $22,000$ shares of $$1$ par common stock for $$84,000$ cash.

January $31$ Collected $$3,000$ from customers on account.

February $15$ Reacquired $3,340$ shares of $$1$ par common stock into treasury for $$36,740$ cash.

March $15$ Reissued $2,340$ shares of treasury stock for $$27,740$ cash.

August $15$ Reissued $600$ shares of treasury stock for $$4,600$ cash.

September $15$ Declared $($but did not yet pay$)$ a $$1$ cash dividend on each outstanding share of common stock.

october $1$ Issued $100,10-$year, $$1,180$ bonds, at a quoted bond price of $101.$

October $3$ Wrote off a $$1,500$ balance due from a customer who went bankrupt.

December $29$ Recorded $$264,000$ of service revenue, all of which was collected in cash.

December $30$ Paid $$234,000$ cash for this year's wages through December $31.($Ignore payroll taxes and payroll

deductions.$)$

December $31$ Calculated $$10,000$ of depreciation for the year to be recorded. $($Ignore accrual adjustments for interest

and income taxes.$)$