Part 2: Pos ons for the month of December from the General Journal to the Genera Ledger art 3: Complete a Trial Balance as of December 31, 2019 Part 4: Record the ad justing entries for Cougar Trike Bikes for the month of December in the General Journal. Transaction Date Description Record the year-end adjusting entry for the note payable It was estimated that the warranty costs for the sale to Johnson Adj. 1 12/31 Bikes on 12/7 would total $300 for parts and labor in 2020 At the end of December, $6,000 of supplies remain on hand It is estimated that 8% of the accounts receivable would be Adj. 2 Adj. 3 12/31 Adj. 4 12/31 uncollectible. Salaries for the second half of December are $1,200, but they Adj. 5 12/31 will not be paid until January 3rd Due to Business Start up tax credit no income tax was owed at Adj 6 no entry 12/31 the end of 2019 the adjusting entries for the month of December from the General Journal to dger. The General Leger is located at the end of the document templates (start on Part 5: Post all he General Le page 12). Remember to reference each journal entry and ending balance Part 6: Complete an Adjusted Trial Balance as of December 31, 2019 * Remembe balance if it was not changed by an adjusting journal entry. * Part 7: Complete a MULTI-STEP Income Statement fo Part 8: Complete a Statement of Retained Earnings for the month ended December 31,2019 Part 9: Prepare a CLASSIFIED Balance Sheet as of December 31, 2019 Part 10: Record the closing entries for the year-ending December 31, 2019 Part 11: Post all the year-end closing entries from the General Journal to the General Ledger. Part 12: Prepare a Post-Closing Trial Balance r a balance in an account on the trial balance will carry over to the adjusted trial r the month ended December 31, 2019 General Journal Part 1 Ref # Date Account 12/1 arch andise In venfory Credit Debit 1 30,00 0 Alcunts Pavable nUca fary 12/1 /o lash 10,000 13,500 410 12/1 as b 10,000 4 , Soo Accaonts Payabie 12/6 Aunts payable cnhandise auntory 00o 12/7 Cost of Goods Sold 5,000 morthan dise In veate zy 29,000 1212 Aounts Payabl cent heeved lash 26 General Journal Part 1 Continued Credit Debit Ref # Date Account (ash Atcua Prevei 10 lost or good Sold 2/20(as Sa les Diseauny 12/25 Cas Sdles 12 (ost of goods solo 12/25 12/27 13 12/30 14 Part 3 Trial Balance on page 7 Part 2 T-accounts start on page 12 General Journal - Adjusting Entries Part 4 Ref#| Date |Account Credit Debit 12/31 A 1 12/31 A 2 12/31 12/31 A. 4 12/31 A. 5 Part 3 Cougar Trike Bikes Trial Balance December 31,2019 Credit Debit Account 153,500 153,50 Total Part 6 Cougar Trike Bikes Adjusted Trial Balance December 31,2019 Account Credit Debit 155,630 155,630 Total Part 7 Cougar Trike Bikes Multi-Step Income Statement For the Year Ended December 31, 2019 Revenue Gross Profit Expenses Total Operating Expenses Operating Income Income Before Income Taxes 0 Income Tax Expense Net Income Part 8 Cougar Trike Bikes Statement of Retained Earnings December 31, 2019 Beginning Balance, January 1, 2019 Net Income Less: Dividend Ending Balance, December 31, 2019 Part 9 Cougar Trike Bikes Balance Sheet December 31, 2019 Assets Liabilities Total Current Assets Total Current Liabilities Long Term Assets: Total Liabilities (no long-term assets) Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Total Assets Stockholders' Equity$ 92,804 General Journal-Closing Entries Part 10 Ref # Date |Account Credit Debit 12/31 C.I 78,884 Retained Earnings 12/31 Retained Earnings 59,730 C.2 12/31 Retained Earnings 0 No entry 0 Dividends Part 12 Cougar Trike Bikes Post-Closing Trial Balance December 31, 2019 Credit Account Debit Cash Accounts Receivable Less: Allowance for uncollectible accounts Merchandise Inventory Supplies Accounts Payable Notes Payable Salaries Payable Deferred Revenue Warranty Lability Interest Payable Safety Contingency Loss Liability Common Stock Retained Earnings Total 93,884 Page 11 General Ledger Parts 2,5,11 Posting Ref BB- Balance as of December l, 2019 TB Trial Balance (ending balance) otal ATB Adjusted Trial Balance (ending balance) CB- Closing Trial Balance (ending balance) Post Journal references in left column for debits and right column for credits in each account Ref # Ref # Cash Accounts Receivable Ref # 50,600 15,000 TB/ATB Allowance for Uncollectible Accounts Ref # TB/ATB Ref # 41,854 2,000 Ref# | Merchandise Inventory Ref# TB 10,000 ATB Ref # Notes Payable Ref f TB/ATB TB/ATB Ref # Supplies Ref # Deferred (Unearned) Revenue 4,000 Ref # Ref # TB/ATB ATB Ref # Interest Payable Ref# ATB Ref # Accounts Payable Ref # Safety Contingency Liability 25 2,000 Ref# Ref# TB/ATB TB/ATB |Ref# Ref#1 warranty Liability ATB Ref# Salaries Payable Ref # Ref# Safety Contingency loss Ref TB/ATB CB 1,200 TB Ref # Supplies Expense Ref# ATB CB ATB Ref # Sales Revenue Ref# 68,500 Ref # Salaries Expense Ref# 12,100 BB/TB TB/ATB ATB 0 CB CB Ref# Sales Discounts | Ref# 0 | Ref# Ref # ATB CB Interest Expense TB/ATB CB Bad Debt Expense Ref ATB CB Ref# Ref # Sales Returns Ref# 0 0 TB/ ATB CB 0 Ref# ATB CB Warranty Expense Ref # Cost of Goods Sold 32,000 Common Stock Ref # Ref# 50,000BB/TB/ATB TB/ATB Ref# Retained Earnings Ref # CB 0 BB/TB/ATB CB Page 13