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please answer all subpart asap! Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of
please answer all subpart asap!
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 30,300 11,500 0 4,000 9,200 98,000 40,000 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals $ 10,700 0 6,300 0 125,000 22,700 62,200 0 29,500 0 0 4,400 $226,900 $226,900 In addition, the company had the following year-end adjusting entries. Credits Debits 3,100 3,100 1,800 1,800 2,300 a. Salaries Expense Salaries Payable b. Interest Receivable Interest Revenue c. Supplies Expense Supplies d. Deferred Revenue Service Revenue e. Rent Expense Prepaid Rent f. Utilities Expense Utilities Payable 2,300 4,300 4,300 6,400 6,400 1,200 1,200 Required: 1., 2. & 6. Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts. Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Supplies Interest Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Prepaid Rent Land Beg. Bal. Beg. Bal. End. Bal. End. Bal. Notes Receivable Accounts Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Salaries Payable Utilities Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Deferred Revenue Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Interest Revenue Salaries Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Rent Expense Supplies Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Utilities Expense Beg. Bal. End. Bal. 3. Prepare an adjusted trial balance. CRIMSON TIDE MUSIC ACADEMY Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals $ 0 0 4. Prepare an income statement, statement of stockholders' equity, and classified balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. Stmt of Income Stockholders Balance Sheet Statement Equity Prepare an income statement for the year ended December 31, 2021. CRIMSON TIDE MUSIC ACADEMY Income Statement For the Year Ended December 31, 2021 Revenues: Total Revenues $ 0 Expenses: Total Expenses 0Step by Step Solution
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