need help filling out the worksheet and income statement ive already done the journal t accounts bs and statement of re need
On New 30 2018, D Company has the following account balance Debit Credit $3,090 Accounts Receivable 9.900 Allowance for Doubtful Accounts $100 Inventory 17.750 Supplies 1.400 9.000 Huildings and Equipment 42.000 Accumulated Depreciation 4,200 Accounts Payable 10,700 Common Stock, no par (2,000 shares) 20.000 Retained Earnings (1/1/2019) 42.400 Dividends 2.000 Sales Revenue 69.700 Cost of Goods Sold 36,860 Salaries Expense 12,500 Advertising Expense 8.100 Other Expenses 4,500 During the month of December, Davis entered into the following transactions Date Transaction Dec 4 Made cash sales of $3,000; the cost of the inventory sold was $1.800. 7 Purchased $2,400 of inventory on credit. Collected $900 of accounts receivable. 18 Sold land for $7,800; the land originally cost $5,000. 20 Made credit sales of $4.000; the cost of the inventory sold was $2,400 21 Returned $360 of defective inventory to supplier for credit to the Davis Company's account 27 Purchased $1,250 of inventory for cash. Paid $1.100 of accounts payable. 31 Purchased land at a cost of $6,000; made a $1.000 down payment and signed a 12%. 2-ycar note for the balance. Required: Prepare general journal entries to record the preceding transactions Date 2. 3. Transaction Past to general ledger T-accounts. Prepare a year-end trial balance on a worksheet and complete the worksheet using the following information: a. accrued salaries at year-end total $1,200: b. for simplicity, the building and equipment are being depreciated using the straight-line method over an estimated life of 20 years with no residual value: c. supplies on hand at the end of the year total $630; d. bad debts expense for the year totals $830: e the income tax rate is 30%: income taxes are payable in the first quarter of 2020 4. Prepare the company's financial statements for 2019. Prepare the 2019 (a) adjusting and (b) closing entries in the general journal. 5. Table 1 Tial Balance Ads IS 1.0 Adis Cred CR D Cra Trial Bence Account Dab Cash 190 Aects recev BODO Ahow to doubt 4800 116040 5,000 20 OCO 7 - 100 1600 ano 2800 Inventory 16840 Supplies 1400 Land 10000 Buleting and equip 42000 Accum Dep Aoots payable Notes Payable Common Stick R.L. 1/1/19 Dividende 2000 Sales Rev Gain on sale of land COGS lol Salanin Exp 12500 AN EAP 100 Other Exp CISCO Total 12740 Salaries payable TP HC Supplies Dp Bod debt Exp TIL Income Tax Exp Income Taxon paywale 1200 13 100 %100 4500 lio 840 1200 2100 110 B100 4900 4900 25 Net Income Retnined Earnings 12/31/10 2781 10a30 79 9270 Income BA ITAL m Dec Ghet A Cash And men ng and At Der Acta peal Notes Pa Coen R 1/1/19 Dis Gaine land Other Balules payatails Dep op med det m fr t Income tas Net Income Metamed Lens 12/8/10 2
