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Ivanhoe Corporations trial balance at December 31, 2022, is presented below. All 2022 transactions have been recorded except for the items described below. Debit Credit

Ivanhoe Corporations trial balance at December 31, 2022, is presented below. All 2022 transactions have been recorded except for the items described below.

Debit

Credit

Cash

$27,540

Accounts Receivable

55,080

Inventory

24,516

Land

70,200

Buildings

102,600

Equipment

43,200

Allowance for Doubtful Accounts

$486

Accumulated DepreciationBuildings

32,400

Accumulated DepreciationEquipment

15,552

Accounts Payable

20,844

Interest Payable

0

Dividends Payable

0

Unearned Rent Revenue

8,640

Bonds Payable (10%)

54,000

Preferred Stock ($20 par)

0

Paid-in Capital in Excess of ParPreferred Stock

0

Common Stock ($10 par)

32,400

Paid-in Capital in Excess of ParCommon Stock

6,840

Retained Earnings

81,054

Treasury Stock

0

Cash Dividends

0

Sales Revenue

615,600

Rent Revenue

0

Bad Debt Expense

0

Interest Expense

0

Cost of Goods Sold

432,000

Depreciation Expense

0

Other Operating Expenses

42,120

Salaries and Wages Expense

70,200

Total

$867,456

$867,456

Unrecorded transactions and adjustments:

1. On January 1, 2022, Ivanhoe issued 1,080 shares of $20 par, 6% preferred stock for $23,760..
2. On January 1, 2022, Ivanhoe also issued 1,080 shares of common stock for $24,840..
3. Ivanhoe reacquired 324 shares of its common stock on July 1, 2022, for $49 per share.
4. On December 31, 2022, Ivanhoe declared the annual cash dividend on the preferred stock and a $1.50 per share dividend on the outstanding common stock, all payable on January 15, 2023.
5. Ivanhoe estimates that uncollectible accounts receivable at year-end are $5,508.
6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,400.
7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $4,320.
8. The unearned rent was collected on October 1, 2022. It was receipt of 4 months rent in advance (October 1, 2022 through January 31, 2023).
9. The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2022, has not been paid or recorded.

(Ignore income taxes.) I am stuck on B,C,D and E.

A.) Prepare journal entries for the transactions and adjustment listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

B.) Prepare an updated December 31, 2022, trial balance, reflecting the journal entries in part(a).

C.)Prepare a multiple-step income statement for the year ending December 31, 2022. (List other revenues before other expenses.)

D.) Prepare a retained earnings statement for the year ending December 31, 2022. (List items that increase retained earning first.)

E.) Prepare a classified balance sheet as of December 31, 2022. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment. Enter account name only and do not provide descriptive information.)

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