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Please help me fill up these for good rating. Thank you very much! Also, these Northeast Welding experience the following events during 2015: 1 Paid

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Please help me fill up these for good rating. Thank you very much!

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Also, these

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Northeast Welding experience the following events during 2015: 1 Paid $1600 cash for the accrued salaries at the end of the previous year. 2 Perform services for cash, $2,100. 3 Borrowed $15,000 cash from the local bank by issuing a note. 4 Paid $12,500 cash to purchase land. 5 Paid $3,600 cash in advance for rent, for the period from February 1, 2015 to February 1, 2016. 6 Perform services for customers on account for $102,000. 7 Incurred operating expenses on account in the amount of $35,200. 8 Collected $82,500 in cash from accounts receivable. 9 Paid $32,000 cash as a partial payment on accounts payable. 10 Paid $28,000 cash for salaries expense. 11 Paid a $5,000 cash dividend to stockholders. Adjusting Entries 12 Recognized revenue for services performed in accordance with Event 4 in 2014. 13 Made the adjusting entry for the expired rent. (Hint: Part of the rent was paid in 2014, and the expense was $250 per month.) 14 Recorded accrued interest. Then note was issued on March 1, 2015, for a one-year term and had an interest rate of 9% (eee Event 3). 15 Record depreciation on equipment. Date 1 General Journal 2015 Debit 1,600 Account Salaries Payable Cash Credit Impact on Profit No Change 1,600 2 2,100 2,100 Increase Cash Service Revenue Cash Notes Payable 3 15,000 15,000 No Change 4 12,500 Land Cash No Change 12,500 5 Prepaid Rent Cash 3,600 3,600 No Change 6 Accounts Receivable Service Revenue 102,000 102,000 Increase 7 35,200 35,200 Decrease Operating Expense Accounts Payable Cash Accounts Receivable 8 82,500 82,500 No Change 9 Accounts Payable Cash 32,000 32,000 No Change 10 Salaries Expense Cash 28,000 28,000 Decrease 11 Dividends Cash 5,000 5,000 No Change T-Accounts 2015 Assets Post journal entries to T-accounts using the cross reference indicated in red. Cash Accounts Receivable Prepaid Expense Beg 6 8 Beg 5 13 Beg 1 2 3 4 5 8 9 10 End End End Equipment Accum Depreciation Land Beg Beg. 15 Beg 4 End End End Liabilities and Equity Accounts Payable Salaries Payable Unearned Revenue Beg Beg Beg 12 7 9 1 End End Interest Payable Notes Payable Common Stock Beg Beg 14 Beg 3 End End End Retained Earnings Dividends Beg Beg 11 End Revenues and Expenses Operating Expense Depreciation Expense Interest Expense Beg 7 Beg. 15 Beg 14 End End Salaries Expense Rent Expense Service Revenue Beg. 10 Beg 13 Beg 2 6 12 End End End NORTHEAST WELDING Financial Statements For the Year Ended December 31, 2015 Income Statement Revenue Expenses Operating Expense Depreciation Expense Salaries Expense Rent Expense Interest Expense Total Expenses Net Income Statement of Retained Earnings Beginning Retained Earnings Plus: Net Income Less: Dividends Ending Retained Earnings Balance Sheet Assets Cash Accounts Receivable Prepaid Rent Total Current Assets Equipment Less: Accumulated Depreciation Net Equipment Land Total Assets Liabilities Accounts Payable Interest Payable Notes Payable Total Liabilities Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Statement of Cash Flows Cash Flows from Operating Activities: Inflow from Customers Outflow for Expenses Net Cash Flows from Operating Expenses Cash Flows for Investing Activities: Outflow to Purchase Land Net Cash Flow from Investing Activities Cash Flows from Financing Activities: Inflow from Borrowed Funds Outflow for Dividends Net Cash Flow from Financing Activities Net Change in Cash Plus: Beginning Cash Balance Ending Cash Balance NORTHEAST WELDING Post Closing Trial Balance For the Period Ended 2015 Debit Credit Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Land Accounts Payable Salaries Payable Unearned Revenue Interest Payable Notes Payable Common stock Retained Earnings Totals

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