how to do question a

use this format to answer

use this format to prepare Journal entires for adjusting item and if there are unadjusted item please type NE

Part I (70 marks) Cucu Pets Company (CP) is a pet beauty shop that provides grooming services for pets. Old customers usually have an account with CP and they are billed after receiving services for their pets. New customers have to pay in advance, and the amounts are credited to unearned fees account. CP performed adjusting entries at the end of each month, and closing entries are performed annually on 31 December. Below is CP's unadjusted trial balance as at 31 December 203. Cucu Pets Company Unadjusted Trial Balance As at 31 December 203 Information for entries/adjusting entries: (1) Purchased $450 supplies of animal's shampoos on account on 30 December 20x3 but not yet recorded. (2) There was an acerued and unrecorded $37,000 salary earned by the staff for December 203. BHMH2101 2022/23 S2 Assignment 1 (3) A $60,000 machine was bought by cash on 1 October 203. It has 10 years + useful life and CP uses straight-line depreciation. Both the purchase and all related adjusting entries were not recorded. (4) On 1 December 203, CP prepaid and recorded a one-year rental of $240,000 covering up to 30 November 204 (5) $11,000 of uneamed fees in the book was now earned on 31 December 203. (6) On 31 December 203, an old customer made a booking for pet grooming service on 5 January 20x4. Payment will be made when service is provided. (7) The Board of Directors declared a dividend of $0.1 per share and will be paid out next year. (8) The 5% note receivable was money lent to CC Company on 1 August 203 for 9 months. Interest is received at the end of each month. Journal entries were made up to 31 August 203. (9) From 16 November to 15 December 20x3, CP has to provide one month grooming services for the Pet Show at a monthly fee of $30,000. Adjusting entries were recorded at the end of November. CP received $30,000 cash on 15 December 203 but no record was made. (10) Estimated income tax expense for the entire year 203 was $52,000 that is due for payment in 204 Required: (a) Prepare the necessary entries/adjusting entries on 31 December 20x3. No explanation is required. Show all workings in your journal. Use the account titles given in the Trial Balance or create new accounts where appropriate. If it does not require adjustment, state "no entry" and give the name of the accounting principle(s) applied. No need to explain. ( 23 marks) (b) Prepare the Income Statement for the year ended 31 December 20x3, under the captions of Revenues, Expenses, Profit before taxes and Profit after taxes. (11 marks) (c) Prepare the Statement of Financial Position as at 31 December 20x 3, under the captions of Total Assets, Total Liabilities, Total Equity. Total Liabilities and Equity. (21 marks) (d) Prepare year-end closing entries. ( 15 marks) Part II (30 marks) Cornical normally adjusts its books monthly. (1) to (5) below are entries made/information noted in December 2023. They are independent from each other. Other than those recorded as stated, no other adjusting entries were made in 203. \begin{tabular}{|c|c|l||r||r|} \hline \multicolumn{5}{|c|}{ GENERAL JOURNAL } \\ \hline \multicolumn{2}{|c|}{ Date } & \multicolumn{1}{c||}{ Account Titles and Explanation } & Debit & Credit \\ \hline & \multicolumn{3}{|c||}{ Monthly Adjusting Entry for supplies used up } & \\ \hline 31 & Jan & Supplies expense (500-400) & 100 & \\ \hline & & Supplies & & 100 \\ \hline & & Supplies expense for the month & & \\ \hline \end{tabular} Required: a) Prenare Inurnal entries for adinctino iteme