I know there is a lot of information to take in. The is a lengthy assignment. I have provided all of my work. My final answers are off by a bit and need assistance in finding where I am wrong. The assignment says I should finish with these totals.

12/31/18 Trial balance dr/cr totals 801,500

Ending Retained Earnings balance 4,967

CR 2,500 To complete this homework, we will use parts of Problem P1 from the chapter. Assume Jester Entertainment Company started operations on January 1, 2017. Jester had the following trial balance at December 31, 2017 after financial statements had been prepared Jester Entertainment Company Trial Balance December 31 2017 DR Cash 114,000 Accounts Receivable Office Supplies 1,000 Land 40,000 Accounts Payable 5,000 Common Stock 150,000 Retained Earnings 2,500 157,500 157 500 Complete the following: a Prepare the journal entries for the transactions shown in problem P1 except for the following: Replace the January 4 entry with the following Purchased Office Equipment for $30,000. The equipment has a six-year useful life with no salvage value For the May 12 entry Change the length of the payment to a 10-month contract (Until March 31) For the Dec 6 entry The amount of the bill was $12,000, instead of the given amount Prepare any necessary year-end adjusting entries for the transactions in part a Prepare an income statement for the year ended December 31, 2018 and classified balance sheet at 2018 for Jester Entertainment b. C Pl. Transaction Analysis: Journal Entries; Adjusting Journal Entries. Jester Entertainment Company began esperations on January 1, 2018. The company had the following transactions in its first year of business Jamuary 4 Owners invested $120,000 (the par value of the stock) in exchange for 20,000 shares of com- mon stock. February 2: Jester took out a 10-year note payable in the amount of $80,000 to pay for operating expenses. Interest payments are due every six months, and the balance of the note will be paid off in a lump-sum in 10 years. The interest rate is 10% annually, that is, 5% every six months. February 16: Jester signed a rental lease for its operating facility and paid a year of rent up front in the amount of $60,000. The rental lease runs from March 1, 2018, through February 29, 2019. March 1: Jester purchased office supplies in the amount of S12.000 and paid in cash. March 12: Jester paid $18.000 cash for advertising expenses. April 1: Jester purchased a two-year insurance policy that runs from April 1. 2018. to March 31, 2020, in the amount of $40.000 and paid in full for the policy in cash. May 12 Jester negotiated a contract with a customer to provide entertainment services for a one-year period running from June 1. 2018, to May 31, 2019. The customer paid the contract in full on May 12 with cash in the amount of $64,000. June 16: Jester paid wages in the amount of $12,000 to employees in cash July 20: Jester negotiated a contract with a customer to provide entertainment services for a six-month period running from September 1, 2018, to February 28, 2019. The customer paid the contract in full on July 20 with cash in the amount of $42,000. August 2: Jester paid cash in the amount of $4,000 for the first interest payment on the note payable taken out on February 2. August 18: Jester received and paid a utilities bill in the amount of S7.00) in cash. September 10: Jester paid wages in the amount of S28,000 in cash. October 1. Jester negotiated a contract with a customer to provide entertainment services for a one-yeur period running from October 1. 2018, to September 30, 2019, in the amount of $420,000. The customer paid the contract in full on October I. November 14: Jester purchased office supplies in the amount of $26.000 on account with the vendor. December 6: Jester received an advertising bill for $22,000. The services were provided in 2018 and the bill will be paid in January Note: At year-end. Jester had $18,000 of office supplies remaining on hand. The following check figures may be useful in completing the assignment (given due to the length of the assignment 12/31/18 Trial balance defer totals 801.500 Ending Retained Earnings balance 4.967 Date Transaction Debit Credit Office Equipment $30,000.00 Cash $30,000.00 January 4, 2018 (Equipment purchased with cash) Cash $80,000.00 Notes Payable $80,000.00 February 2, 2018 (Cash received by notes payable) Prepaid Rent $60,000.00 Cash $60,000.00 February 16, 2018 Cash paid for 1 year of rent in advance) Office Supplies $12,000.00 Cash $12,000.00 March 1, 2018 (Supplies purchased with cash) Advertising Expenses $18,000.00 Cash $18,000.00 March 12, 2018 (Cash paid for advertisement) Prepaid Insurance $40,000.00 Cash $40,000.00 April 1, 2018 (Cash paid for two-year insurance policy) Cash $64,000.00 Unearned Revenue $64,000.00 (Received payment for 10-month contract May 12, 2018 in advance) Wages Expense $12,000.00 Cash $12,000.00 June 16, 2018 (Paid wages to employees) Cash $42,000.00 Unearned Revenue $42,000.00 (Received payment for 6 month contract in July 20, 2018 advance) Interest Expenses $4,000.00 Cash $4,000.00 August 2, 2018 Cash paid for 2/2/2018 note interest) Utility Expense $7,000.00 Cash $7,000.00 August 18, 2018 (Cash paid for utility bill) Wages Expense $28,000.00 Cash $28,000.00 September 10, 2018 (Paid wages to employees) Cash $420,000.00 Unearned Revenue $420,000.00 (Received payment for 1-year contract in October 1, 2018 advance) Office Supplies $26,000.00 Accounts Payable $26,000.00 November 14, 2018 (Supplies purchased on account) Advertising Expenses $12,000.00 Accounts Payable $12,000.00 December 6, 2018 (Advertisement made on account) 509,000 2,500 19,000 10,000 25,000 $ 565,500 40,000 30,000 -5,000 Balance Sheet Assets Current Assets Cash Accounts receivable Office Supplies $ Prepaid Rent $ Prepaid insurance Total Current Assets Property Plant and Equipment Land Office Equipment Less: Accumulated Depreciation $ Total Property Plant and Equipment Total Assets Liabilities & Stockholder's Equity Current Liabilities Accounts payable $ Interest Payable $ Unearned Revenue Total Current Liabilities Non-Current Liabilities Notes Payable Total Liabilities Stockholder's Equity Common Stock $ Retained Earnings $ Total Stockholder's Equity Total Liabilities & Stockholder's Equity 65,000 630,500 $ 43,000 3,333 348,200 $ 394,533 $ $ 80,000 474,533 150,000 5,967 $ $ 155,967 630,500 Adjusted Trial Balance Cash Accounts receivable Office Supplies Prepaid Rent Prepaid insurance Land Office Equipment Accumulated depreciation-equipment Accounts payable Interest Payable Unearned Revenue Notes payable Common Stock Retained Earnings Revenue Depreciation Expense - Equipment Wages expense Interest expense Insurance expense Rent expense Office Supplies Expense Utility Expense Advertising Expense Total Debit Credit $ 509,000 2,500 $ 19,000 1$ 10,000 $ 25,000 $ 40,000 $ 30,000 $ 5,000 $ 43,000 3,333 $ 348,200 $ 80,000 $ 150,000 $ 2,500 $ 177,800 $ 5,000 40,000 $ 7,333 $ 15,000 $ 50,000 $ 20,000 7,000 $ 30,000 $ 809,833 $ 809,833 Income Statement Revenue Revenue $ 177,800 Total Revenue $ 177,800 $ $ Expenses Depreciation Expense - Equipment Wages expense Interest expense Insurance expense Rent expense Office Supplies Expense Utility Expense Advertising Expense $ $ 5,000 40,000 7,333 15,000 50,000 20,000 7,000 30,000 $ Total Expenses 174,333 Net Income $ $ 3,467 Statement of Retained Earnings Beginning Balance Add: Net Income $ $ $ $ $ 2,500 3,467 5,967 Less : Dividends Ending Balance 5,967