Need help with #4-#10

cios Homework - Accounting Cycle PROBLEM 1 The general ledger of Fast Track Racing at January 1, 2021, includes the following account balances Accounts Debits Credits Cash $2.790 Accounts Receivable 2,910 Supplies 1.120 Equipment 10,000 Accumulated depreciation Equipment 500 Accounts Payable 1.650 Deferred Revenue 320 Salaries & Wages Payable Notes Payable 1,000 Common Stock 10,000 Retained Earnings 3.000 Totals $16.820 $16.820 350 The following is a summary of the transactions for the month of January a. Paid $1,220 for salaries due employees, of which $870 is for January and the remainder was for December b. Received $1,800 cash from customers on account. c. Received $1,700 cash for services provided in January. d. Issue shares of common stock in exchange for $2,000 cash. e. Purchased equipment on account $3,600. f. Purchased supplies on account, $1,300. g. Paid on accounts payable, $2,500. h. Paid January rent of $480. i. Pay $200 cash dividends to stockholders. j. Performed services on account of $900 and billed customers. k. Received $750 from customers for future services. Required: 1. Set up the necessary T-accounts and enter the beginning balances from the trial balance. In addition to the accounts shown, the company also has accounts for Interest Payable, Dividends, Service Revenue, Salaries Expense, Rent Expense, Depreciation Expense, Interest Expense, and Supplies Expense. 2. Journalize each of the summary transactions listed above. 3. Post the transactions to the accounts. 4. Prepare an unadjusted trial balance. 5. Journalize adjusting entries. 1. Supplies remaining on hand at the end of the month equal $1,100. 2. Accrued salaries at month-end amounted to $480 3. Depreciation for the month was $250. 4. Services were performed that satisfied $500 of deferred revenue 5. Accrued interest on the notes payable at month-end amounted to $10. 6. Post adjusting entries (in red). 7. Prepare an adjusted trial balance. 8. Prepare an income statement, statement of retained earnings and a classified balance sheet for January 2021. 9. Record closing entries. 10. Prepare a post-closing trial balance