please help!
beginning balance:
cash 12,410
account receive 2380
supplies 153
prepaid rent 680
inevntory 0
land 3400
account payable 0
salaries payable 884
unearned revenue 765
common stock 6800
retained earning 10,574
The rest are 0
) a) Jan 6, 2020-Cycle Path paid the salaries payable from 2019, b) Jan. 14, 2020 - The company acquired an additional $42,500 cash from the issue of common stock. c) Jan. 17, 2020 - The company paid $765 cash for supplies to be used by the business. d) Jan 21, 2020-Cycle Path purchased 35 bicycles and related gear for later sale at a cost of $16,142. The bicycles and related gear were purchased on account with the terms 1/10, 1/30 e) Jan. 29, 2020-Cycle Path decided to pay $4,200 of its accounts payable balance from event (d) before the discount period expired, so Cycle Path first applied the discount to the $4,200 amount so it could reduce its accounts payable balance (note: the actual payment is described in event (f) below). After applying this discount, Cycle Path's inventory cost was $460 for each item. Jan. 29, 2020-Cycle Path paid cash to settle parts of its accounts payable balance as described in event (e). e) Feb. 12, 2020 - The company sold 24 bicycles and related gear for a total price of $15,300. Sales of $11,050 were on account, while $4,250 were cash sales. Record revenue. h) Feb. 12, 2020 - The cost to Cycle Path of each product sold in event (e) was $460. D. Feb. 17, 2020 - The company paid the workers a total of $7,140 in salaries. ) Feb. 28, 2020 - The company provided $30,600 of bicycle rental and repair services. The services were billed to the customers. k) Mar. 1, 2020-Cycle Path rented a business van paying $4,080 in advance for a one year rental. 0) Mar. 3, 2020 - Paid cash to settle additional accounts payable in the amount of $3,213. The payment was made after the discount period expired, m) Mar 11, 2020-Collected $32,300 of accounts receivable, n Apr. 9, 2020-Cycle Path performed $11,900 worth of bicycle rental and repair services for a local college: $10,200 was on account and $1,700 was for cash. .) May 1, 2020-Paid $6,120 for one year's rent on office space in advance. p) May 8, 2020-Cycle Path purchased, and paid cash, for 8 bicycles and related gear for later sale at a cost of $474 each 9) May 17, 2020 - The company paid accounts payable of $1,224, but not within the discount period (the company uses the gross method). Jun. 1, 2020-Cycle Path rented a larger building paid $5,610 for 12 months rent in advance. s) Jun 5, 2020-Cycle Path purchased, and paid cash, for 12 bicycles and related gear for later sale at a cost of $480 each t) Jun 12, 2020-Cycle Path purchased 15 bicycles and related gear for later sale at a cost of $486 each. The purchase was on account, t) Jun. 12, 2020-Cycle Path purchased 15 bicycles and related gear for later sale at a cost of $486 each. The purchase was on account. u) Jun. 23, 2020 - The company sold 32 bicycles and related gear for a total price of $23,800. Sales of $17,000 were on account, while $6,800 were cash sales. Record revenue. v) Jun 23, 2020 - Record the cost of goods sold related to the sale from event (u) using the perpetual FIFO method. w) Jul. 1, 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for $935 with a cost of $480. Record the revenue part of the event. x) Jul. 1, 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for $935 with a cost of $480. Record the cost part of the event. Y) Jul. 15, 2020-Paid employees a total of $9,350 cash for salaries employees earned during the current period. z) Aug. 24, 2020 - Provided $27,200 of bicycle rental and repair services during the year. The services were billed to the customers. aa) Sep. 30, 2020 - Recognized $680 of service revenue earned during the first nine months of the year; it had been collected in the prior year. bb) Oct. 1, 2020 - Sold additional bicycle rental and repair services worth $340 for one year's service, starting immediately. The customers paid cash for the full amount. cc) Nov. 13, 2020 - Collected $43,350 of accounts receivable. dd) Nov. 20, 2020 - Paid an additional $4,675 to settle some accounts payable; the payment was made after the discount period expired. ee) Dec 27, 2020 - Paid $2,380 of advertising expense during the year. ff) Dec. 28, 2020-Paid $3,553 of utilities expense for the year. ce) Dec 28, 2020 - Paid $10,600 of other operating expense for the year. hh) Dec. 29, 2020 - Paid a dividend of $10,200 to the shareholders. ii) Dec. 31, 2020 - There was $537 of supplies on hand at the end of the year. ji) Dec. 31, 2020 - Recognized the expired rent from the prior year, van (event (k)], office space (event (o)), and the building (event r) for the year. ekk) Dec 31, 2020 - Recognized revenue for the current year earned from event (bb), D) Dec 31, 2020 - Accrued salaries at December 31 were $1,020. 1 bant How ACOB Prepald Receb Supplies rent Land Service revenue Product Account Salaries Uneame payable payable Revenue D 765 134 Dividend Common Retained S Weck eaming declared 6.800 10,574 O Equity Supplies Swres Rent Advent Other UND ng expense expense expense expense operating expense expenses 0 0 O 12.410 2.380 153 680 0 3,400 0 al Opr d) M 14 19 n al M w dd) N N D be an De De De 12510114 3.5531 23.00 59,211 22,789 537 3.058 7184 10 110 1,020 340 49.100 10.574 10.2001 70465 38.165.25.65 Not following conceSUOf when all your respect should the "Endin above Sum 11.526 153 680 0 765 6,800 10.574 at Opr How An 0 Cycle Path, Inc. Adjusted Trial Balance as of December 31, 2020 Debit Credit Account Cash Accounts receivable Supplies Prepaid rent Inventory Land Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Dividends declared Service revenue Product sales Cost of goods sold Supplies expense Salaries expense Rent expense Utilities expense Advertising expense Other operating expenses TOTALS Cycle Path, Inc. Income Statement For the Year Ended December 31, 2020 Service revenue Product sales, net Cost of Goods Gross Margin Supplies expense Salaries expense Rent expense Utilities expense Advertising expense Other operating expenses Net Income Cycle Path, Inc. Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2020 Beginning common stock Plus: Common stock issued Ending Common Stock Beginning retained earnings Plus: Net Income Less: Dividends Ending Retained Earnings TOTAL STOCKHOLDERS' EQUITY Cycle Path, Inc. Balance Sheet As of December 31, 2020 Cash Accounts receivable Supplies Prepaid rent Inventory Land TOTAL ASSETS Accounts payable Salaries payable Unearned revenue Subtotal Liabilities Retained earnings Common stock Subtotal Equity TOTAL LIABILITIES & EQUITY Cycle Path, Inc. Statement of Cash Flows For the Year Ended December 31, 2020 Cash flows from operating activities Cash receipts from customers Cash payments for expenses Net cash flow from operating activities Net cash flow from investing activities Cash flows from financing activities Cash receipts from stock issued Cash payments for dividends Net cash flow from financing activities Net increase in cash Plus: beginning cash balance Ending Cash Balance
