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I need both questions answer. Dear Tutor, please provide both questions answer. I will give 2 upvote. Promise. Question (1) Question (2) Question:1 Safina Company
I need both questions answer.
Dear Tutor, please provide both questions answer.
I will give 2 upvote. Promise.
Question (1)
Question (2)
Question:1 Safina Company opened for business on March 1, 2022. Its trial balance before adjustmenton March 31 is as follows. Safina Company, Trial Balance Other data: 1. Prepaid insurance is a 2-year policy starting March 1, 2022. 2. A count shows supplies of $750 have been used on March 31 . 3. Salaries of $800 are accrued and unpaid at March 31. 4. One-third of unearned revenue is still unearned at March 31. 5. Annual depreciation is $2,400 on the buildings and $1,500 on equipment. 6. The mortgage interest rate is 10%. (The mortgage was taken out on March 1) Question:2 The adjusted trial balance of Shohoj Company, owned by Taimur Khan are as follows. Shohoj Coompany Instruction: (a) Prepare an income statement, an owner's equity statement for the year ended December 31, 2021 and a classified balance sheet at December 31, 2021. Notes payable are due in2024. (b) Prepare closing entries at December 31,2021. (c) Prepare a post-closing trial balance at December 31,2021. Question:1 Safina Company opened for business on March 1, 2022. Its trial balance before adjustmenton March 31 is as follows. Safina Company, Trial Balance Other data: 1. Prepaid insurance is a 2-year policy starting March 1, 2022. 2. A count shows supplies of $750 have been used on March 31 . 3. Salaries of $800 are accrued and unpaid at March 31. 4. One-third of unearned revenue is still unearned at March 31. 5. Annual depreciation is $2,400 on the buildings and $1,500 on equipment. 6. The mortgage interest rate is 10%. (The mortgage was taken out on March 1) Question:2 The adjusted trial balance of Shohoj Company, owned by Taimur Khan are as follows. Shohoj Coompany Instruction: (a) Prepare an income statement, an owner's equity statement for the year ended December 31, 2021 and a classified balance sheet at December 31, 2021. Notes payable are due in2024. (b) Prepare closing entries at December 31,2021. (c) Prepare a post-closing trial balance at December 31,2021Step by Step Solution
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