Hi There!

Below is the work I have done so far on my project and I need help creating financial statements. I need help on:

1. Income Statement

2. Statement of Owner's Equity

3. Balance Sheet

4. Closing Entries

5. Post Closing Trial Balance

Below I have attached all journal entries made, adjusting entries, trial balance, inventory valuation, and t accounts I will also copy and paste the prompt. Thank you so much for the help, I really appreciate it. I posted this question earlier and the expert said it was confusing and I was unable to comment. I hope this is enought!

1. Financial Statements: Create financial statements using appropriate methods based on accepted accounting principles. Be sure to prepare these financial statements in the order listed, as there are important interdependencies among them.
   1. Income Statement: Prepare the income statement using the adjusted trial balance.
   2. Statement of Owners Equity: Prepare the statement of owners equity using the adjusted trial balance.
   3. Balance Sheet: Prepare the balance sheet using the adjusted trial balance.
   4. Closing Entries: Complete the Closing Entries tab of the company accounting workbook by closing all temporary income statement amounts to create closing entries.
   5. Post-Closing Trial Balance: Prepare the Post-Closing Trial Balance tab of the company accounting workbook in preparation for the next accounting period.

Above is the Inventory Valuation

Above is the T Charts

So, once again, this is all the work I have done thus far. I need help with the

1. Income Statement

2. Statement of Owners Equity

3. Balance Sheer

4. Closing Entries

5. Post Closing Trial Balance

October, 20xx Accounts Date 1-Oct Cash Common Stock Debit Credit $25,000 $25,000.00 $8,500 1-Oct Baking Equipment Accounts Payable $8,500 $10,000.00 3-Oct Cash Notes Payable $10,000 7-OctPrepaid Rent Rent Expense Cash $1,500.00 $1,500.00 $3,000 $375.00 10-Oct Business License Expense Cash $375.00 $250.00 11-Oct Misc. Expense Cash $250.00 $5,000.00 13-Oct Baking Equipment Common Stock $5,000.00 $200.00 13-Oct Advertising Expense Cash $200.00 $300.00 14-Oct Office Supplies Cash $300.00 $75.00 30-Oct Telephone Expense Accounts Payable $75.00 $1.200.00 31-Oct Prepaid Insurance Cash $1,200.00 $120.00 31-Oct Wages Expense Wages Payable $120.00 31-Oct Cash Accounts Receivable Bakery Sales $10,000.00 $5,000.00 $15,000.00 Total 69,020.00 69,020.00 A Company General Journal Entries November, 20xx Accounts Credit Date 5-Nov Wages Payable Cash Debit $120.00 $120.00 $3,800.00 8-Nov Cash Accounts Receivable $3,800.00 $75.00 10-Nov Accounts Payable Cash $75.00 $5,000.00 15-Nov Baking Supplies Accounts Payable $5,000.00 $480.00 15-Nov Wages Expense Wages Payable $480.00 $1,500.00 15-Nov Rent Expense Cash $1,500.00 $1,000.00 18-Nov Cash Accounts Receivable $1,000.00 $8,500.00 20-Nov Accounts Payable Cash $8,500.00 $480.00 20-Nov Wages Payable Cash $480.00 $300.00 22-Nov Office Supplies Cash $300.00 $75.00 30-Nov Telephone Expense Accounts Payable $75.00 $420.00 30-Nov Wages Expense Wages Payable $420.00 30-Nov Cash Accounts Receivable Bakery Sales $12,500.00 $7,500.00 $20,000.00 Total 41,750.00 41,750.00 A Company General Journal Entries December, 20xx Accounts Credit Date 1-Dec Dividends Cash Debit $10,000.00 $10,000.00 $420.00 5-Dec Wages Payable Cash $420.00 $60.00 7-Dec Merchandise Inventory Cash $60 $4,000.00 8-Deo Cash Accounts Receivable $4,000.00 $75.00 10-Dec Accounts Payable Cash $75.00 $7,000.00 11-Dec Baking Supplies Accounts Payable $7,000.00 $5,000.00 13-Dec Accounts Payable Cash $5,000.00 $456.00 15-Deo Wages Expense Wages Payable $456.00 $1,500.00 15-Deo Rent Expense Cash $1,500.00 $68.00 15-Dec Cash Merchandise Sales $68.00 $48.00 15-Dec Cost of Goods Sold Merchandise Inventory $48.00 $456.00 20-Deo Wages Payable Cash $456.00 20-Dec Merchandise Inventory Cash $122.00 $122.00 $153.00 24-Dec Cash Merchandise Sales $153.00 $109.60 24-Dec Cost of Goods Sold Merchandise Inventory $109.60 $151.25 30-Deo Merchandise Inventory Cash $151.25 $480.00 31-Dec Wages Expense Wages Payable $480.00 31-Dec Cash Accounts Receivable Bakery Sales $19,000.00 $6,000.00 $25,000.00 Total 55,098.85 55,098.85 FIFO Ending Inventory Ne af Date Terms Purchases No. of Unit Price Tatal Price Items 10 S 6.00 60.09 Sales No. of Une Totale Items Date CI Unit Price Total Price 10 $6.00 SO.CO 7-De 6.00 cm Dr 53.cc 7-Dec Merchandise Inventory (10 x $e) Cash Purchased inventory Purchases 22:7:20 boxes purchased a $5 22:20:20 boxes purchases 56.20 12/30:25 teses purchased at $5.05 Sales-selling price $30 box 12488 12./2.8 boxca 60.00 15-Dec 8 $ 6.00 $ 48.00 2 $ 6.00 $12.00 29 Dec 20 $ 5.00 $122.00 85CC 2 $ 6.00 $ 12.00 20 $0.10 $ 122.00 22 $ 134.00 1-DSC 58.301 Merchandise Sales Rever Record sale of inventary 69.00 24-Dec 48.00 2 $ 5.00 ) 22.00 DE $ 5.10 97.60 $ 201 $ 105.69 { $ 6.10 $ 24.43 15-Der Cost of Goods Sold 19 X 551 Merchandise inventory Recorded the cost of geces sold 23.00 30 Dec 25 $ 5.C $ 151.35 $ 122.CO 4 $ 6.19 $ 24.49 $ $ 25 $ 6.95 $15.25 29 $ 175.65 2C-Des Merched selventory (20 $5C exch 122.00 Net Inventory 55 $ $ 333.25 26 $ $ $ 357.89 29 $ 275.65 159.00 24 Des Cash 18x8.50) Merchandise Sales Rente Record sale of inventory 1530 104.69 106 EC 24-Ces Cost of Goods Sold 2 x $-15% SE.101 Mercharesc inventory Recorded the cost of cocds sold 2C-CA Merchandise rentary 125 x 86.05! Cash 152.25 151.25 date date Notes Payable date Cash 1-Oct $ 25,000.00 3-Oct $ 10,000.00 date 3-Oct Business License exp ##### $ 375.00 $ 10,000.00 Common Stock $ 25,000.00 $ 5,000.00 $ $ 30,000.00 $ 30,000.00 1-Oct 13-Oct $ - - $ 10.000.00 $ 10,000.00 $ $ 375.00 $ 375.00 $ $ $ $ $ 3,000.00 375.00 250.00 200.00 300.00 1,200.00 7-Oct 10-Oct 11-Oct 13-Oct 14-Oct 31-Oct 31-Oct $ 10,000.00 $ 120.00 5-Nov 8-Nov $ 3,800.00 $ 75.00 10-Nov 18-Nov $ 1,000.00 $ $ $ $ 1,500.00 15-Nov 8,500.00 20-Nov 480.00 20-Nov 300.00 22-Nov Accounts Rec. 31-Oct 5,000.00 3,800.00 8-Nov 1,000.00 18-Nov 30-Nov $ 12,500.00 30-Nov 7,500.00 $ 10,000.00 $ 420.00 $ 60.00 1-Dec 5 5-Dec 7-Dec 4,000.00 8-Dec 31-Dec 6,000.00 8-Dec $ 4,000.00 8.800,00 $ 75.00 $ $ 5,000.00 $ 1,500.00 10-Dec 13-Dec 15-Dec $ $ 18,500.00 $ $ 9,700.00 15-Dec $ 68.00 $ 456.00 20-Dec $ 122.00 20-Dec 24-Dec $ 153.00 $ 151.25 30-Dec 31-Dec $ 19,000.00 $ 85,521.00 $ 34,084.25 $ 51,436.75 Misc. expense 11-Oct $ 250.00 Baking equipment 13-Oot $ 5,000.00 Advertising expense ##### $ 200.00 $ $ $ 250.00 $ 250.00 $ $ 5,000.00 $ 5,000.00 $ $ 200.00 $ 200.00 Baking supplies 1-Oct $ 8,500.00 15-Nov $ 5,000.00 11-Dec $ 7,000.00 Office supplies 14-Oct $ 300.00 22-Nov $ 300.00 Rent expense 7-Oot $ - 1,500.00 ##### $ 1,500.00 ##### $ 1,500.00 $ 20,500.00 $ $ 600.00 $ 4,500.00 $ Bakery Sales Prepaid rent 7-Oot $ 1,500.00 Prepaid insurance 31-Oct $ 1,200.00 $ 15,000.00 31-Oct $ 20,000.00 30-Nov $ 25,000.00 31-Dec $ 60,000.00 $ 60,000.00 $ $ $ 1,500.00 $ 1,500.00 $ $ 1,200.00 $ 1,200.00 31-Oct 1-Oct 31-Oot Salary and wages expense 31-Oct $ 120.00 15-Nov $ 480.00 30-Nov $ 420.00 15-Dec $ 456.00 31-Dec $ 480.00 15-Nov 15-Nov Accounts payable $ 8,500.00 75.00 10-Nov $ 75.00 $ 5,000.00 20-Nov $ 8,500.00 $ 75.00 10-Dec $ 75.00 $ 7,000.00 13-Dec $ 5,000.00 $ 13,650.00 $ 20,650.00 $ 7,000.00 Salaries and wages payable $ 120.00 5-Nov $ 120.00 $ 480.00 ##### $ 480.00 $ 420.00 5-Dec $ 420.00 $ 456.00 ##### $ 456.00 $ 480.00 30-Nov 30-Nov $ $ 15-Dec 1,956.00 $ 1,956.00 11-Dec 31-Dec $ 1,476.00 $ $ 1,956.00 480.00 Telephone expense 30-Oot $ 75.00 30-Nov $ 75.00 $ 150.00 $ $ 150.00 Dividends 1-Dec $ 10,000.00 $ 10,000.00 $ $ 10,000.00 COGS ##### $ 48.00 ##### $ 109.60 $ 157.60 $ 157.60 $ $ Merchandise Sales Revenue $ 68.00 15-Dec $ 153.00 24-Dec 48.00 15-Dec Merch. Inv. FIFO 7-Dec $ 60.00 $ ##### $ 122.00 $ ##### $ 151.25 $ 333.25 $ $ 175.65 $ 109.60 24-Dec 221.00 221.00 $ 157.60 A Company Adjusting Journal Entries 20XX Credit Debit $208.33 $208.33 $150.00 $150.00 Date Accounts 31-Dec Depreciation Expense Accumulated Depreciation 31-Dec Interest Expense Interest Payable 31-Dec Insurance Expense Prepaid Insurance 31-Dec Baking Supplies Expense Baking Supplies 31-Dec Office Supplies Expense Office Supplies $200.00 $200.00 $19,400.00 $19,400.00 $550.00 $550.00 $550.00 21,058.33 20,508.33 Account Cash Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Notes Payable Interest Payable Accounts Payable Wages Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Supplies Expense Rent Expense Interest Expense Insurance Expense Depreciation Expense Misc. Expense Office Supplies Expense Business License Expense Advertising Expense Wages Expense Telephone Expense COGS Total: A Company Trial Balance 20xx Unadjusted trial balance Adjusting entries Debit Credit Debit Credit 51,436.75 $20,500.00 19,400.00 $176 1,500.00 1,200.00 200.00 5,000.00 208.33 600.00 550.00 9,700.00 10,000.00 150.00 7,000.00 480.00 30,000.00 10,000.00 60,000.00 221.00 19,400.00 4,500.00 150.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 107,701.00 107,701.00 20,508.33 20,508.33 Adjusted trial balance Debit Credit 51,436.75 1,100.00 175.65 1,500.00 1,000.00 5,000.00 208.33 50.00 9,700.00 10,000.00 150.00 7,000.00 480.00 30,000.00 10,000.00 60,000.00 221.00 19,400.00 4,500.00 150.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 108,059.33 108,059.33 A Company Income Statement For Qtr. Ending 12/31/20XX Revenues Total Revenues Gross Profit Operating Expenses: Baking Supplies Expense 19,400.00 Total Operating Expenses: 19,400.00 Net Income (19,400.00) A Company Statement of Stockholder's Equity For Qtr. Ending 12/31/20xx Common Stock Retained Earnings Total Beginning Balances, September 30 0 0 Issued Common Stock Net Income Dividends Ending Balances, December 31: 0 A Company Balance Sheet As of December 31, 20XX Assets Current Assets: Liabilities and Owners' Equity Current Liabilities: Total Current Liabilities Long Term Liabilities: Total Current Assets Total Long Term Liabilities: Total Liabilities: Shareholder's Equity: Non-Current Assets: show number as negative as the total formula will subtract it for you. Total Equity Baking Equipment (Net) Total Assets: Total Liabilities & Equity A Company Closing Entries Qtr ending 12/31/20xx Debit Credit Date Accounts 31-Dec Bakery Sales Merchandise Sales Retained Earnings 31-Dec Retained Earnings Baking Supplies Expense Rent Expense Wages Expense Misc Expense Business License Expense Office Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense COGS 31-Dec Retained Earnings Dividends A Company Post-Closing Trial Balance Qtr. Ending 12/31/20xx Unadjusted Trial Balance Debit Credit Account Cash Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Accounts Payable Wages Payable Interest Payable Notes Payable Common Stock Retained Earnings Total