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PLEASE HELP ME !!!!!!!! just gve me the exact answer for this question in the exact format please help me !!!! my assigment is due

PLEASE HELP ME !!!!!!!! just gve me the exact answer for this question in the exact format please help me !!!! my assigment is due tmr help please thank you image text in transcribed
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Required information [The following information applies to the questions displayed below.] On December 1, Year 1, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and taking over the location of Rent-It, an equipment rental company that was going out of business. The newly formed company uses the following accounts. The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December of its first year of operations, the corporation entered into the following transactions. Dec. 1 Issued to John and Patty Oriver 24,000 new shares in exchange for a total of $240,000 cash. Dec. 1 Purchased for $259,200 all of the equipent fornerly owned by Rent-It. Paid $140,000 cash and issued a 1 -year note payable for $119,200. The note, plus al1 12 months of accrued interest, are due llovenbor 30 , Year 2 . Dec. 1 Paid $16,800 to Shapiro Realty as three month' advance rent on the rental yard and office formerly occupied by Rent-1t. Dec. 4 Purchased office supplies on account from Modern office Co., \$1, 400. Payment due in 30 days. (These supplies are expected to last for several months; debit the office supplies asset account.) Dec. \& Received $8,300 cash as advance payent on equipeent rental from Mchaser Construction Company. (Credit Unearned Rental Fees.) Dec. 12 Paid salaries of $5,100 for the first two weeks in Deceober. Dec. 15 Excluding the MeNamer advance, equipent rentol fees earned during the first 15 days of Decenber aeounted to $18,400, of which $12,600 was received in cash. Dec.17 Purchased on account from Earth Movers, Inc., $900 in parts needed to perfore basic naintenance on a renta1 tractor. Payment is due in 1e days. Dec.23 Collected $2,800 of the accounts recetvable recorded on Decewber 15. Dec. 26 Mented a backhoe to Mission Landscapine at a price of $260 por day, to be paid when the backhoe is returned. Mission tandscaping expects to keep the backhoe for about two or three veeks. Dec.26 Paid biweekly salaries, \$5, 109. Dec.27 Paid the account payable to Earth Movers, IAc., $900. Dee.28 Declared a dividend of 10 cents per share, payable on January 15, Year 2. Dee. 29 Susquehanna Equipent Hentals was named, along with Mission Landscaping and Collier Construction, as a co. defendent in a 530,000 lawsuit filed on behalf of Kevin Davenport. Mission Landscaping had left the rented backhoe in a fenced construction site ouned by Collier Construction. After workine hours on Decenber 26 , Davenport had rlimbed the fence to play on parked construction equipeent. While playing on the backhoe, he fell and broke his are. The extent of the coepany's lesal and financial responsibility for this accilent, if any, cannet be detereined at this tiei. (Notet This event does not require a journal entry at this ties, but may require disclosure in notes accoppanying the statesents.) Dec.29 Purchased a 12-month public liability insurance policy for $9,120. This policy protects the coepany ogainst liability for injuries and property dasege caused by its equipeas. However, the policy goes into effect on January 1, Year 2, and affords no coverafe for the injuries sustained by Kevin Oavenport on Deceaber 26. Dec.32 llecelved a bill froe Universal Utilities for the nonth of Deceeber, \$6lo, Payment is due in 38 days. Dec. 31 Equipent pental fees earned during the second half of Deccemer amounted to $20,000, of which $15,600 uas received in cash. Doto for Adjusting Entries in Year 1 a. The advance payment of rent on December 1 covered a period of three months. b. The annual interest rate on the note payable to Rent-it is 6 percent. c. The rental equipment is being depreciated by the straight-line method over a period of eight years. Any salvage value at the end of tits useful life is expected to be negligible and immaterial. d. Office supplies on hand at December 31 are estimated at $610. e. During December, the company earned $4,300 of the rental fees paid in advance by McNamer Construction Company on December 8 1. As of December 31, six days' rent on trie backhoe rented to Mission Landscaping on December 26 has been earned. 9. Salaries earned by employees since the last payroll date (December 26) amounted to $1,900 at month-end. h. It is estimated that the company is subject to an income tax rate of 30 percent of profit before income taxes (fotal revenue minus all expenses other than income taxes). These taxes will be payable in Year 2. Prepare an after-closing trial balance as of December 31. (Round your final onswers to the nearest whole dollor.) SUSQUEHANNA EQUIPMENT RENTALS After-Closing Trial Balance December 31, Year 1 \begin{tabular}{|l|l|l|l|} \hline \end{tabular}

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