On January 1, 2021, Red Flash Photography had the following balances: Cash, $26,000; Supplies $9.400; Land $74,000; Deferred Revenue, $6,400; Common Stock $64,000; and Retained Earnings. $39,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shores of common stock, $34,000. 2. May 20 Provide services to customers for cash, $49,000, and on account, $44,000. 3. August 31 Pay salaries to employees for work in 2021, $37.000. 4. October 1 Purchase rental space for one year, $26,000. 5. November 17 Purchase supplies on account, $36,000. 6. December 30 Pay dividends, $3,400. The following information is available on December 31, 2021 1. Employees are owed an additional $5,400 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6.400 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed. General General Income Requirement Statement of Journal Ledger Trial Balance Statement SE Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal tab. 3. Review the adjusted Trial Balance as of December 31, 2021. 4. Prepare an income statement for the year ended December 31, 2021, in the 'Income Statement tab, 5. Prepare the statement of Stockholder's Equity for the year ended December 31, 2021, in the 'Income Statement' tab. 6. Prepare a classified balance sheet as of December 31, 2021 in the Balance Sheet' tab. 7. Record the closing entries in the 'General Journal tab. Requirement General Journal > Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No journal entry required in the first account field.) View transaction fist Journal entry worksheet Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted RED FLASH PHOTOGRAPHY Income Statement For the year ended December 31, 2021 Revenues: Total Revenue Expenses: Total Expenses Requirement General Journal General Ledger Trial Balance Income Statement Statement of Balance Sheet SE Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the balance indicated. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection Unadjusted Dates: Jan 01 to: Dec 30 RED FLASH PHOTOGRAPHY Statement of Stockholders' Equity For the Period Ended December 31, 2021 Total Common Retained Stock Stockholders' Earnings Equity
