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need help The general ledger of the Karlin Company, a consulting company, at January 1,2024, contained the following account balances The following is a summary
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The general ledger of the Karlin Company, a consulting company, at January 1,2024, contained the following account balances The following is a summary of the transactions for the year: a. Provided services, $114,000, of which $34,200 was on occount and the balance was recelved in cosh. b. Collected on accounts recelvoble, $23,800 c. Issued shares of common stock in exchange for $11,000 in cash. d. Paid solarles, $41,500 (of which $7,500 wos for solaries poyable at the end of the prior year). e. Poid miscellaneous expense for various items, $22.400 f. Purchosed equipment for $13,000 in cosh. 9. Paid \$2750 in cash dividends to shareholders. Additional information: h. Accrued solories at year-end amounted to $830. 1 Depreciation for the year on the equipment is $2,100 h. Accrued salaries at year-end amounted to $830 1. Depreciation for the year on the equipment is $2,100. Required: 1t to 3. Prepare a general journal entry for eoch of the summary transactions listed. Record beginning balances in the T-accounts (on the T-accounts tab). Post the journal entries to the T-accounts. 4. Using the T-occount balances, prepare an unadjusted trial balance. 5. Prepare odjusting journal entries using the additional information provided. Post to the T-accounts (on the T-accounts tab). 6. Using the adjusted T-account balances, prepare an adjusted trial balance. 7.a. Prepare an income statement for 2024 7.b. Prepare a balance sheet as of December 31, 2024 8. Prepare closing entries, and then post to the T-accounts (on the T-accounts tab). 9. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Post the transactions, adjusting and closing entries into the appropriate T-accounts. Note: Enter the letter of the transaction in the column next to the amount Step by Step Solution
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