If anyone could show me how to calcualte and fill the adjusted trial balance sheet?
Required information [The following information applies to the questions displayed below.) On January 1. Year 1, the general ledger of Company A includes the following account balances: Credit Accounts Cash Accounts Receivable Inventory Land Buildings Allowance for Uncollectible Accounts Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Totals Debit $ 13,000 37,600 153,800 85,300 138,000 $ 3,600 11,400 37,500 218,000 157,200 $427, 700 $427, 700 During January Year 1, the following transactions occurs Borrow $118.000 from Company B Corporation. The installment note bears interest at 6+ annually and matures in 5 years. Payments of $2,281 are required at the end of each month for 60 months. Receive $32,800 from customers on accounts receivable. Pay cash on accounts payable, $29,000. January 1 January 4 January 10 January 15 January 30 January 31 Pay cash for salaries, $30,700. Company A sales for the month total $210,600. Sales include $66,800 for cash and $143,800 on account. The cost of the units sold is $121,500. Pay the first monthly installment of $2,281 related to the $118,000 borrowed on January 1. Round your interest calculation to the nearest dollar. a. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $25,800. b. The company estimates future uncollectible accounts. The company determines $4,800 of accounts receivable on January 31 are past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 3% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger) c. Unpaid salaries at the end of January are $27,900. d. Accrued Income taxes at the end of January are $9.800. c. $20,967 of the long-term note payable balance will be paid over the next year Required information Company A Adjusted Trial Balance January 31, Year 1 Accounts Debit Credit Cash Accounts Receivable Allowance for Uncollectible Accounts inventory Land Buildings Accumulated Depreciation Accounts Payable Salaries Payable Income Tax Payable Notes Payable (Current) Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries Expense Interest Expense Depreciation Expense Bad Debt Expense Tincome Tax Expense Required information www.nowv LALO way. January Pay the first monthly installment of $2,281 related to the $118,000 borrowed on January 1.1 31 your interest calculation to the nearest dollar. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Jc equired" in the first account field.) *** View transaction list View journal entry worksheet Debit Credit No General Journal Date January 01 118,000 1 Cash Notes Payable (Long-term) 118,000 2 32,800 January 04 Cash Accounts Receivable 32,800 3 January 10 Accounts Payable Cash 29,000 29,000 4 January 15 30,700 Salaries Expense Cash 30,700 5 January 30 Cash Accounts Receivable Sales Revenue 66,800 143,800 210,600 6 January 30 Cost of Goods Sold Inventory 121,500 121,500 7 January 31 Notes Payable (Long-term) Interest Expense Cash 1,691 590 2.281 Required information a. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the purchased, the company estimated a service life of 10 years and a residual value of $25,800. b. The company estimates future uncollectible accounts. The company determines $4,800 of accounts receivable on past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on Jan past due, and 3% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable calculated in the general ledger.) c. Unpaid salaries at the end of January are $27,900. d. Accrued income taxes at the end of January are $9,800. e. $20,967 of the long-term note payable balance will be paid over the next year. 2. Record the adjusting entries on January 31 for the above transactions. (If no entry is required for a particular transa select "No Journal Entry Required" in the first account field.) No Debit Answer is complete but not entirely correct. General Journal Depreciation Expenso Accumulated Depreciation Date January 31 Credit 1 935 935 2 January 31 Bad Debt Expense Allowance for Uncollectible Accounts 2,256 2,256 3 January 31 Salaries Expense Salaries Payable 27,900 27,900 4 January 31 Income Tax Expense Income Tax Payable 9,800 9,800 5 January 31 Notes Payable (Long-term) Notes Payable (Current) 20,967 >> 20,967
