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need adjusted trail balance, T accounts,adjusted journal entries, balance sheet, income sheet, closing entries Introduction & Information: Rogue Space Systems, Corporation (aka Rogue) is an
need adjusted trail balance, T accounts,adjusted journal entries, balance sheet, income sheet, closing entries
Introduction \& Information: Rogue Space Systems, Corporation (aka Rogue) is an orbital robotics company that designs satellite vehicles private and government contracts that produce revenue for the company, and expenses are focused on rest Below is a copy of the company's unadjusted trial balance for the current period. (NOTE: Information for thi calculated previously.) At the end of the period, Rogue has the following adjusting entries that the accountant needs to make. 1. Rogue completed partial work on a prepaid contract with NASA $50,000 for the services provided. 2. Office supplies were used during this period, with a total value o 3. The research and development team paid an invoice for new equ $54,500. The invoice was paid in cash. 4. Rogue issued payroll for salaries previously earned in the amoun $34,200. 5. Rogue made an adjustment to account for one month's worth of $4,800. 6. Rogue expensed rent for 1 month which was previously paid for The Chart of Accounts for Rogue includes the following account names, which should be used by the accoun Directions: Using the information you calculated on the Adjusted Trial balance for Rogue, Tab 4 Adj. Trial Bal, and the completed inancial Statements, create the closing entries that are required for Rogue. Reminder: The closing entry process is as follows: 1. Clear out revenue accounts by debiting revenue and crediting the income summary account 2. Clear out expense accounts by crediting all expense accounts used and debiting the income summary account 3. Close the income summary account to the retained earnings account based on a profit or a loss 4. Cheer that the accounting process for the period is complete! ournal Entry FormatStep by Step Solution
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