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Please can you solve the before and after adjustment pre trial balance please ? Trial Balances On Dec 31, 2021, the end of its most

Please can you solve the before and after adjustment pre trial balance please ? image text in transcribed
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Trial Balances On Dec 31, 2021, the end of its most recent fiscal year, Very Big Corp. Of America's post-closing trial balance was as follows: The company underwent a major expansion in Jan. New staff was hired and more financing was obtained. Very Big Corp. Of America conducted the following transactions during lan 2022, and adjurts its accounts monthly. Jan 01 Purchased equipment, paying 55,240 cash and signing a 2-year note payable for $19,960. The equipment has a 4 -year useful life. The note has a 6% interest rate, with interest payable on the first day of each following month. Jan 02 Issued 21,000 shares of common stock for $52,500 cash. Jan 03 Paid $3,900 cash for a 12-month insurance policy effective Jan 01. Jan 10 Collected $1,350 cash on account from Alghersax. This client was billed in December when Very Big Corp. Of America performed the service. Jan 14 Paid $1,550 cash for a utility bill. This was related to December utiilies that were accrued at the end of December. Jan20 Performed services worth $23,200 on account and billed customers. Adjustment data: 1. Adjustment of prepaid insurance. 2. Equipment depreciation, 5545 per month. 3. Accrual of interest on note payable. 4. Estimated utilities expense for January, $1,950 (invoice will be received next month). 5. Income tax for January, 54,350 will be paid next month. Expense, Advertising Expense, Income Tax Expense, Interest Expense, Rent Expense, and Utilities Expense. - Instructions a. Journalize the January transactions (including adjusting entries). b. Enter the opening balances in the ledger accounts (Use T-accounts). c. Post to the ledger accounts. d. Prepare a trial balance at Jan 31, 2022. e. Journalize and post adjusting entries for the month ending Jan 31, 2022. f. Prepare an adjusted trial balance. g. Prepare an income statement and a retained earnings statement for January and a balance sheet at Jan 31, 2022. (Net income \$15,931, Total assets $125,090 )

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