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I need to write an Accounting Cycle Report and I have no clue what to write, these are my #: Unadjusted trial balance Adjusting entries

I need to write an Accounting Cycle Report and I have no clue what to write, these are my #:

Unadjusted trial balance Adjusting entries Adjusted trial balance
Account Debit Credit Debit Credit Debit Credit
Cash 47,896.75 47,896.75
Baking Supplies 20,500.00 19,400.00 1,100.00
Merchandise Inventory 175.63 175.63
Prepaid Rent 1,500.00 1,500.00
Prepaid Insurance 1,200.00 200.00 1,000.00
Baking Equipment 5,000.00 5,000.00
Misc. Supplies 600.00 550.00 50.00
Accounts Receivable 10,300.00 10,300.00
Notes Payable 10,000.00 10,000.00
Accounts Payable 7,000.00 7,000.00
Wages Payable 480.00 480.00
Common Stock 20,000.00 20,000.00
Dividends 3,000.00 3,000.00
Bakery Sales 60,000.00 60,000.00
Merchandise Sales 221.00 221.00
Baking Supplies Expense 19,400.00 19,400.00
Rent Expense 4,500.00 4,500.00
Insurance Expense 200.00 200.00
Misc. Expense 250.00 250.00
Business License Expense 375.00 375.00
Advertising Expense 200.00 200.00
Wages Expense 1,956.00 1,956.00
Telephone Expense 90.00 90.00
COGS 157.62 157.62
Depreciation Expense 208.33 208.33
Accumulated Depreciation 208.33 208.33
Misc Supplies Expense* 550.00 550.00
Interest Expense* 150.00 150.00
Interest Payable* 150.00 150.00
97,701.00 97,701.00 20,508.33 20,508.33 98,059.33

98,059.33

Adjusting entries

Accounts Debit Credit
Depreciation Expense 208.33
accumulated depreciation 208.33
(5000/60 x 2.5)
Interest Expense 150.00
Interset Payable 150.00
(10,000 x 6% x 3/12)
Insurance Expense 200.00
Prepaid Insurance 200.00
(100 x 2)
Baking Supply Expenses 19,400.00
Baking Supplies 19,400.00
(8500 +7000 +5000 -1100)
Misc. Supply Expense 550.00
Misc. Supplies 550.00
(300 +300 -50)
Income Statement
Revenue
Bakery Sales 60,000.00
Merchandise Sales 221.00
Expenses
Cost of Goods Sold 157.6
License Expenses 375.00
Telephone Expenses 90.00
Wages Expenses 1,956.00
Rent Expenses 4,500.00
Misc. Expenses 250.00
Baking Supplies Expenses 19,400.00
Insurance Expenses 200.00
Depreciation Expenses 208.33
Misc. Supplies Expenses 550.00
Selling Expenses
Adverrtising Expenses 200.00
Interest expense 150.00
Total 28,036.93
Net Income 32,184.07

Balance Sheet
Assets Liabilities and Owners' Equity
Current Assets Common Stock $20,000.00
Cash $48,009.00 Retained earnings $29,184.07
Baking Supplies $1,100.00
Prepaid Insurance Expense $1,000.00 Notes Payable $10,000.00
Accounts Recievable $10,521.00 Wages payable $480.00
Prepaid Rent $1,500.00 Interest payable $150.00
Misc. Supplies $50.00 Accounts Payable 7000
Merchandise Inventory $175.65
Total $62,355.65
Total $66,814.07
Baking Equipment $5,000.00
Accumulated Depreciation -$208.33 $4,791.67
Total Assests $67,147.32
Closing Entries
Date Accounts Debit Credit
Income Summary 28036.93
Cost of goods sold 157.60
Rent Expense 4,500.00
Insurance Expense 200.00
Misc Expenses 250.00
Business License Expense 375.00
Wages Expense 1,956.00
Telephone expense 90.00
Depreciation expense 208.33
Misc. Supplies Expense 550.00
Baking Supplies expense 19,400.00
Advertising expenses 200.00
Interest expense 150.00
Bakery Sales 60,000.00
Merchandise Sales 221.00
Income Summary 60,221.00
Income summary 32,184.07
Retained earnings 32,184.07
Retained earnings 3,000.00
Dividends payable

3000

Post Closing Trial Balance Unadjusted Trial Balance
Account Debit Credit
Common Stock 20000
Retained Earnings 29184.07
Notes Payable 10000
Wages Payable 480
Accounts Payable 7000
Interest Payable 150
Accumulated Depreciation -208.33
Baking Equipment 5000
Cash 47896.75
Baking Supplies 1100
Merchandise Inventory 175.65
Prepaid Rent 1500
Prepaid Insurance 1000
Misc. Supplies 50
Accounts Recievable 10300
Total 66814.07 66814.07

The instructions are:

Introduction (delete this heading in your final paper) In your opening paragraph, very briefly introduce the purpose of your paper. Recall that you will be discussing the accounting cycle in keeping with the key terms of steps, role, omission, and finally financial statements, as explained in your rubric instructions. Three or four sentences are sufficient. Paragraph One (delete this heading in your final paper) Using content from your accounting cycle workbook submitted in Final Project Part I and from your readings in Chapter 4 of the textbook, identify the steps of the accounting cycle. Provide a description of each step. Also, discuss what role each step plays in the success of a business. Paragraph Two (delete this heading in your final paper) Describe how the omission of a step could impact the success of a business. What strategies could be used to avoid this? Include in your discussion the omission of at least three different steps. A minimum of five to six sentences is required to support your thoughts. Focus your thinking around the role of each step, as discussed in the previous paragraph, and how its omission will impact the success of a business. Paragraph Three (delete this heading in your final paper) Identify and describe the major financial statements that come out of the accounting cycle. Why are they important? A minimum of five to six sentences is required to support your thoughts. Be specific in your answer and use examples to support your thoughts. Conclusion (delete this heading in your final paper) The conclusion reminds the reader what your paper is about and allows you to make a final point without introducing new information. Three or four sentences are sufficient. Thanks in advance

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