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Given the info: Please do only requirements 5,6,7 and 8 please. 10d) Hec. Donerin Completing the Accounting Cycle 3 A Completing the aleting the accounting

Given the info: Please do only requirements 5,6,7 and 8 please. image text in transcribed
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10d) Hec. Donerin Completing the Accounting Cycle 3 A Completing the aleting the accounting Cycle from adjusting entries to post-closing A dal balance with an optional worksheet trial balance of Williamson Amvis at December 31, 2016, and the data Learning Objectives 1, 2, 4, 5, 6 The ansted trials arche adjustments follow 5. Net Income $19,890 WILLIAMSON ANVILS Unadjusted Trial Balance December 31, 2016 Balance Debit Credit $16.370 16,500 2.530 1,800 29.000 5 10,000 6.600 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Williamson, Capital Wiliamson, Withdrawals Service Revenue Salaries Expense Rent Expense Depreciation Expense--Equipment Supplies Expense 7,200 28.000 3,500 20.500 2.600 5 72.300 72,300 Adjustment data: a. Unearned Revenue still unearned at December 31, $3.300. b. Prepaid Rent still in force at December 31, $2,400. c. Office Supplies used, $1,200. d. Depreciation, $350. c. Accrued Salaries Expense at December 31, $230. Requirements 1. Open the T-accounts using the balances in the unadjusted trial balance. Complete the worksheet for the year ended December 31, 2016. (optional) 3. Prepare the adjusting entries, and post to the accounts. 4. Prepare an adjusted trial balance. . Prepare the income statement, the statement of owner's equity, and the classified balance sheet in report form. Assume that there were no contributions made by the owner during the year. ter 4 6. Prepare the closing entries, and post to the accounts. 7. Prepare a post-closing trial balance. 8. Calculate the current ratio for the company. Objectives 1, 2, 3, 4,5 P4-32A Completing the accounting cycle from journal entries to post-closing trial balance with an optional worksheet On December 1, Bob Wonder began an auto repair shop, Wonder's Quality Automotive The following transactions occurred during December: nding Capital $68,395 Dec. 1 1 1 9 10 Wonder contributed $55,000 cash to the business in exchange for capital Purchased $9,000 of equipment paying cash. Paid $1,000 for a four-month insurance policy starting on December Paid $16,000 cash to purchase land to be used in operations Purchased office supplies on account, $2,900

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