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I've already attempted each of these on a seprate sheet of paper and just want to double check my work is correct. thank you! QUESTION

I've already attempted each of these on a seprate sheet of paper and just want to double check my work is correct. thank you! image text in transcribed
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QUESTION #1 The December 31, 2018 adjusted trial balance for the Samsung Corporation is presented below. Account Title Debits Credits Cash 21,000 Accounts receivable 300,000 Allowance for uncollectible accounts 20,000 Prepaid rent expense 10,000 Inventory 50,000 Equipment 600,000 Accumulated depreciation - equip 250,000 Accounts payable 40,000 Note payable (due in six months) 60,000 Salaries payable 8,000 Interest payable 2,000 Capital stock 400,000 Retained earings 100,000 Sales revenue 800,000 Cost of goods sold 480,000 Salaries expense 120,000 Rent expense 30,000 Depreciation expense 60,000 Interest expense 4,000 Bad debt expense 5.000 Totals 1.680.000 1.680.000 Required: Prepare the financial statements and necessary closing entries at December 31, 2018. Income Statement Month Ended Revenue: Expenses: Total expenses Net income Statement of Retained Earnings Add: Less: Retained earnings, December 31, 2018 Balance Sheet December 31, 2010 Assets Liabilities Total liabilities Stockholders' Equity Total assets Total liabilities and stockholders CLOSING ENTRIES Joumal Entries Date Accounts Debit Credit

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