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I have done some of it, but i would like to compare my answers to something. Please help me solve this whole problem 10 The
I have done some of it, but i would like to compare my answers to something. Please help me solve this whole problem
10 The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances Account Title accounts receivable Eient Related depreciation Debits Credits 27.300 19.500 14.000 10.200 50, 500 The following is a summary of the transactions for the year a. Service revenue. 140.000, of which $42.000 was on account and the balance was received in cash b. Collected on accounts receivable, $27.700. c.Issued shares of common stock in exchange for $17.500 in cash d. Paid salaries, 551250 (of which $10.750 was for salaries payable at the end of the prior year). e. Pald miscellaneous expense for various items $27500 f. Purchased equipment for $20000 in cash g. Pald $3.400 in cash dividends to shareholders L Accrued salaries at year-end amounted to $1025. 2. Depreciation for the year on the equipment is $3,400. Required: 2.5.& 8. Prepare the summary, adjusting and closing entries for each of the transactions listed 3. Post the transactions, adjusting and closing entries into the appropriate accounts 4. Prepare an unadjusted trial balance 6. Prepare an adjusted trial balance 7-a. Prepare an income statement for 2021 7.b. Prepare a balance sheet as of December 31, 2021 9. Prepare a post-closing trial balance Complete this question by entering your answers in the tabs below. Rog 25 and Rega Rega Rego Reg Reg 78 Prepare the summary, adjusting and closing entries for each of the transactions listed. (If no entry is required for a transaction/event, select "No l antry required in the first account hold.) View transaction to view journal entry worksheet No Transaction General Journal Credit Cat Accounts receivable Service revenue Debit 98.000 42.000 Cath Acou receivable 27 TOO Common stock Step by Step Solution
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