Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2022 and is being depreciated using the straight-line method over an eight-year usefu with no residual value. 2. Accrued salaries at year-end should be $5,100 3. The company borrowed $29,100 on September 1,2024 . The principal is due to be repaid in 10 years. Interest is payable twice on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplles are purchased. Supplies on hand at year-end cost $440. 5. Prepaid rent expired during the period is $13,800. Cash dlvidends paid to shareholders during the year amounted to $6,375. Required: 1. Complete the worksheet below: 2-a. Use the information in the worksheet to prepare an income statement for 2024 2.b. Use the information in the worksheet to prepare a statement of sharehoiders' equity for 2024. 2c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering your answers in the tabs below. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. Required: 1. Complete the worksheet below. 2-3. Use the information in the worksheet to prepare an income statement for 2024. 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. 2c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering your answers in the tabs below. Use the information in the worksheet to prepare a balance sheet as of December 31,2024. Note: Amounts to be deducted thould be indicated by a minus sign. with no residual value. 2. Accrued salarles at year-end should be $5,100. 3. The company borrowed $29,100 on September 1,2024 . The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $440. 5. Prepaid rent explred during the period is $13,800. Cash dividends pald to shareholders during the year amounted to $6,375. Required: 1. Complete the worksheet below. 2-0. Use the information in the worksheet to prepare an income statement for 2024 . 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. 2.c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering vour answers in the tabs below. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the occounts. Note: If no entry is required for a transactiongevent, select "To joumal entry reguired" in tho first account field. Journal entry worksheet Record the entry to dope the revenue accounts using retained earnings. Woce Enter anbla bufure ondte. Required: 1. Complete the worksheet below. 2-a. Use the information in the worksheet to prepare an income statement for 2024. 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. 2.c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering your answers in the tabs below. Complete the worksheet below. Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2022 and is being dopreclated using the straight-ilne method over an eight-year useful life with no residual value. 2. Accrued salaries at year-end should be $5,100 3. The company borrowed $29,100 on September 1, 2024. The principal is due to be repaid in 10 years. Interest is payable twice a year " on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $440. 5. Prepold rent explied during the period is $13,800. Cash dividends paid to shareholders during the year amounted to $6.375 Required: 1. Complete the worksheet below. 2.a. Use the information in the worksheet to prepare an income statement for 2024. 2.b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024 , 2-c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctby posted to the accounts. Complete this question by entering your answers in the tabs below. Use the information in the worksheet to prepare an income statement for 2024. Excalibur Corporation sells video games for personal computers. The unadjusted trial balance as of December 31, 2024, appears below. December 31 is the company's reporting year-end. The company uses the perpetual inventory system. Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2022 and is being depreciated using the straight-line method over an eight-year useful life with no residual value: 2. Accrued salaries at year-end should be $5,100 3. The company borrowed $29,100 on 5 eptember 1,2024 . The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10% 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $440. 5. Prepald rent expired during the period is $13,800 Cash dividends paid to shareholders during the year amounted to $6,375. Required: 1. Complete the worksheet below: 2.a. Use the information in the worksheet to prepare an income statement for 2024 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. 2.c. Use the information in the worksheet to prepare a balance sheet as of December 31,2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering vour answers in the tabs below. Complete the worksheet below. Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2022 and is being depreciated using the straight-line method over an eight-year usefu with no residual value. 2. Accrued salaries at year-end should be $5,100 3. The company borrowed $29,100 on September 1,2024 . The principal is due to be repaid in 10 years. Interest is payable twice on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplles are purchased. Supplies on hand at year-end cost $440. 5. Prepaid rent expired during the period is $13,800. Cash dlvidends paid to shareholders during the year amounted to $6,375. Required: 1. Complete the worksheet below: 2-a. Use the information in the worksheet to prepare an income statement for 2024 2.b. Use the information in the worksheet to prepare a statement of sharehoiders' equity for 2024. 2c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering your answers in the tabs below. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. Required: 1. Complete the worksheet below. 2-3. Use the information in the worksheet to prepare an income statement for 2024. 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. 2c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering your answers in the tabs below. Use the information in the worksheet to prepare a balance sheet as of December 31,2024. Note: Amounts to be deducted thould be indicated by a minus sign. with no residual value. 2. Accrued salarles at year-end should be $5,100. 3. The company borrowed $29,100 on September 1,2024 . The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $440. 5. Prepaid rent explred during the period is $13,800. Cash dividends pald to shareholders during the year amounted to $6,375. Required: 1. Complete the worksheet below. 2-0. Use the information in the worksheet to prepare an income statement for 2024 . 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. 2.c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering vour answers in the tabs below. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the occounts. Note: If no entry is required for a transactiongevent, select "To joumal entry reguired" in tho first account field. Journal entry worksheet Record the entry to dope the revenue accounts using retained earnings. Woce Enter anbla bufure ondte. Required: 1. Complete the worksheet below. 2-a. Use the information in the worksheet to prepare an income statement for 2024. 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. 2.c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering your answers in the tabs below. Complete the worksheet below. Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2022 and is being dopreclated using the straight-ilne method over an eight-year useful life with no residual value. 2. Accrued salaries at year-end should be $5,100 3. The company borrowed $29,100 on September 1, 2024. The principal is due to be repaid in 10 years. Interest is payable twice a year " on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $440. 5. Prepold rent explied during the period is $13,800. Cash dividends paid to shareholders during the year amounted to $6.375 Required: 1. Complete the worksheet below. 2.a. Use the information in the worksheet to prepare an income statement for 2024. 2.b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024 , 2-c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctby posted to the accounts. Complete this question by entering your answers in the tabs below. Use the information in the worksheet to prepare an income statement for 2024. Excalibur Corporation sells video games for personal computers. The unadjusted trial balance as of December 31, 2024, appears below. December 31 is the company's reporting year-end. The company uses the perpetual inventory system. Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2022 and is being depreciated using the straight-line method over an eight-year useful life with no residual value: 2. Accrued salaries at year-end should be $5,100 3. The company borrowed $29,100 on 5 eptember 1,2024 . The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10% 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $440. 5. Prepald rent expired during the period is $13,800 Cash dividends paid to shareholders during the year amounted to $6,375. Required: 1. Complete the worksheet below: 2.a. Use the information in the worksheet to prepare an income statement for 2024 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024. 2.c. Use the information in the worksheet to prepare a balance sheet as of December 31,2024. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Complete this question by entering vour answers in the tabs below. Complete the worksheet below