I need help with this project and this is visible question!!
- : X fi H I J K L M N O P Q R S T U V W X Y D E F G 2 Lawn and Garden Plus was founded in January 2013. Presented below is the unadjusted trial balances as of December 31, 2020. Complete the adjusting entries (below Trial Balance) and Adjusted Trial Balance. Cash and Equipment are started for you. 3 Adjusted DR CR $ 11,000 60,000 Lawn and Garden Plus Trial Balance December 31, 2020 Unadjusted DR CR Cash $ 11,000 Accounts Receivable 20,000 Supplies 8,400 Prepaid Insurance 3,350 Equipment 60,000 Accumulated Depreciation Equipment $ 28,000 Accounts Payable 5,000 Interest Payable Notes Payable 5,000 Unearned Service Revenue 7,000 Salaries and Wages Payable Common Stock 10,000 Retained Earnings 3,500 Service Revenue 58,600 Salaries and Wages Expense 10,000 Insurance Expense Interest Expense 350 Depreciation Expense Supplies Expense Rent Expense 4,000 $117,100 $ 117,100 $ 71,000 $ - Project + 30 5 . JUU 51. IUU51.UUU 32 Instructions 33 (a) Journalize the annual adjusting entries that need to be made. (Omit explanations.) 34 35 a Lawn and Garden have not recorded services performed, and paid on account in the amount of $3,500. Lawn and Garden had performed $1,400 of the agreed upon service, that was paid in advance in September, but not yet competed. While taking inventory of supplies, the administrator counted $3,000 of supplies on hand. $8,400 was the beginning balance. Depreciation on lawn equipment and vehicles amounted to $5,000, it has not been recorded for the year. Interest on the note (October 1 date) has a rate of 12% (APR-yearly) and has not been recorded. It is due in the following year. The prepaid insurance balance is $2,500 and adjusting entries have not been made 53 g. Wages not entrered for the current year are $1,300, they will be paid in the following year. 56 De Debit Credit 57 31 58 61 31 65 31 69 31 73 31 31 79 81 31 Proiect H I J K L M N O P Q R T U V W X Y Z AA AB DE F G 84 85 (b) Prepare an income statement and a statement of retained earnings for the year ending December 31, 2017, and an unclassified balance sheet at December 31. Lawn and Garden Income Statement For the Year Ended December 31, 2020 Revenues Expenses Lawn and Garden Statement of Retained Earnings For the Year Ended December 31, 2020 Lawn and Garden 109 110 111 112 Lawn and Garden Balance Sheet December 31, 2020 Assets 113 114 115 116 118 120 Liabilities and Stockholders' Equity 136 138
