On January 1, 2021, Red Flash Photography had the following balances: Cash, $24.000; Supplies, $9.200; Land, $72,000: Deferred Revenue, $6,200; Common Stock $62,000; and Retained Earnings, $37.000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $32,000. 2. May 20 Provide services to customers for cash, $47,000, and on account, $42,000. 3. August 31 Pay salaries to employees for work in 2021, $35,000. 4. October 1 Paid for one year's rent in advance, $24,000. 5. November 17 Purchase supplies on account, $34,000. 6. December 30 Pay dividends, $3,288. The following information is available on December 31, 2021: 1. Employees are owed an additional $5,200 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6,200 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed. Requirement General Journal General Ledger Trial Balance Income Statement Statement of 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. On January 1, 2021, Red Flash Photography had the following balances: Cash, $24,000; Supplies, $9.200; Land, $72,000: Deferred Revenue. $6,200; Common Stock $62,000; and Retained Earnings, $37000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of conmon stock, $32,000. 2. May 20 Provide services to custoners for cash, $47,000, and on account, $42,000. 3. August 31 Pay salaries to employees for work in 2021, $35,000. 1 Paid for one year's rent in advance, $24,000. 5. November 17 Purchase supplies on account, $34,000. 6. December 30 Pay dividends, $3,200. 4. October The following information is available on December 31, 2021: 1. Employees are owed an additional $5,200 in salaries. Three months of the rental space has expired. 3. Supplies of $6,200 remain on hand. All of the services associated with the beginning deferred revenue have been performed. General Journal General Ledger Requirement Trial Balance Income Statement Statement of SE Balance Sheet 1. Record each of the transactions listed above in the 'General Joumal' 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 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 in the first account field.) View transaction list Journal entry worksheet Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Unadjusted RED FLASH PHOTOGRAPHY Trial Balance December 30, 2021 Account Title Debit Credit Cash $ 24,000 9,200 72,000 Supplies Land Deferred Revenue Common Stock Retained Earnings Total 6,200 62,000 37,000 105,200 105,200 $ 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 Common Stock Retained Earnings Total Stockholders' Equity Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Choose the appropriate accounts to complete the company's balance sheet. 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 Balance Sheet As of December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Liabilities Total Current Assets Total Liabilitos Long-term Assets: Stockholder's Equity Total Stockholders' Equity Total Liabilities & Stockholders' Equity Total Assets