I need journal entries, income statement and rearined earning
Required information (The following information applies to the questions displayed below.) House of Tutors, Inc. (HTI) is a company that runs a tutoring service for high school and university students. The company reported the following amounts in its post-closing trial balance, prepared at the end of its first fiscal year, at August 31. $ 70 260 1.240 740 2,800 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Interest Payable Note Payable (long- term) Retained Earnings Supplies 12.400 44 8,400 956 The company encountered the following events during September: a. HTI provided 100 hours of regular hourly tutoring at the rate of $22 per hour, all of which was collected in cash. b. HTI paid tutors at the hourly rate of $11 per hour. On September 28, HTI paid for 90 hours of tutor time and promised to pay the remaining hours worked. C. HTI hosted an all-night review session on September 29 for people cramming for midterm exams, at a special price of $10 per attendee. Rather than collect cash at the time of the review session, HTI will send bills in October to the 79 people who attended the review session. d. At the beginning of the night long review session, HTI paid $240 cash to its tutors for wages. No additional salaries and wages will be paid for the review session. e. HTI collected $240 cash on account from students who received tutoring durin the past summer. HTI also collected $290 cash from a high school for a tutoring session to be held in g. HTI determined that depreciation for September should be $140. h. Although HTI adjusted its accounts on August 31, it has not yet paid the $44 monthly Interest owed on the promissory note, for either August or September. The note is due in three years. 1. HTI has only $44 of supplies left at September 30. J. HTI's income taxes are estimated to be $490. The taxes will be paid at a later date. October Required: 1. Prepare HTI's journal entries and adjusting journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet CU W De 3490. The taxes will be paid at a la 2-a. Prepare HTI's income statement for the month ended September 30. HOUSE OF TUTORS, INCORPORATED Income Statement 2-b. Prepare HTI's statement of retained earnings for the month ended September 30. HOUSE OF TUTORS, INCORPORATED Statement of Retained Earnings Retained Earnings, Beginning Retained Earnings, Ending s Required information (The following information applies to the questions displayed below.) House of Tutors, Inc. (HTI) is a company that runs a tutoring service for high school and university students. The company reported the following amounts in its post-closing trial balance, prepared at the end of its first fiscal year, at August 31. $ 70 260 1.240 740 2,800 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Interest Payable Note Payable (long- term) Retained Earnings Supplies 12.400 44 8,400 956 The company encountered the following events during September: a. HTI provided 100 hours of regular hourly tutoring at the rate of $22 per hour, all of which was collected in cash. b. HTI paid tutors at the hourly rate of $11 per hour. On September 28, HTI paid for 90 hours of tutor time and promised to pay the remaining hours worked. C. HTI hosted an all-night review session on September 29 for people cramming for midterm exams, at a special price of $10 per attendee. Rather than collect cash at the time of the review session, HTI will send bills in October to the 79 people who attended the review session. d. At the beginning of the night long review session, HTI paid $240 cash to its tutors for wages. No additional salaries and wages will be paid for the review session. e. HTI collected $240 cash on account from students who received tutoring durin the past summer. HTI also collected $290 cash from a high school for a tutoring session to be held in g. HTI determined that depreciation for September should be $140. h. Although HTI adjusted its accounts on August 31, it has not yet paid the $44 monthly Interest owed on the promissory note, for either August or September. The note is due in three years. 1. HTI has only $44 of supplies left at September 30. J. HTI's income taxes are estimated to be $490. The taxes will be paid at a later date. October Required: 1. Prepare HTI's journal entries and adjusting journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet CU W De 3490. The taxes will be paid at a la 2-a. Prepare HTI's income statement for the month ended September 30. HOUSE OF TUTORS, INCORPORATED Income Statement 2-b. Prepare HTI's statement of retained earnings for the month ended September 30. HOUSE OF TUTORS, INCORPORATED Statement of Retained Earnings Retained Earnings, Beginning Retained Earnings, Ending s
