please help!!

[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. Cash Accounts Receivable Prepaid Rent Unexpired Insurance Office Supplies Rental Equipment Accumulated Depreciation: Rental Equipment Notes Payable Accounts Payable Interest Payable Salaries Payable Dividends Payable Unearned Rental Fees Income Taxes Payable Capital Stock Retained Earnings Dividends Income Summary Rental Fees Earned Salaries Expense Maintenance Expense Utilities Expense Rent Expense Office Supplies Expense Depreciation Expense Interest Expense Income Taxes Expense The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December, the corporation entered into the following transactions, Dec. 1 Issued to John and Patty Driver 29,000 shares of capital stock in exchange for a total of $290,000 cash. Dec. 1 Purchased for $249,600 all of the equipment formerly owned by Rent-It. Paid $131,000 cash and issued a 1-year note payable for $118,600. The note, plus al 12 months of accrued interest, are due November 30, Year 2. Dec. 1 Paid $11,700 to Shapiro Realty as three months' advance rent on the rental yard and office formerly occupied by Rent-It. 3 2 of 7 Dec. 4 Purchased office supplies on account from Modern Office Co., $2,000. Payment due in 30 days. These supplies are expected to last for several months; debit the Office Supplies asset account.) Dec. 8 Received $8,900 cash as advance payment on equipment rental from McNamer Construction Company. (Credit Unearned Rental Fees.) Dec. 12 Paid salaries for the first two weeks in December, 54,700. Dec. 15 Excluding the McNamer advance, equipment rental fees earned during the first 15 days of December amounted to $18,300, of which $13,000 was received in cash. Dec. 17 Purchased on account fron Earth Movers, Inc., $900 in parts needed to repair a rental tractor. (Debit an expense account.) Payment is due in 10 days. Dec. 23 collected $2,700 of the accounts receivable recorded on December 15. Dec. 26 Rented a backhoe to Mission Landscaping at a price of $300 per day, to be paid when the backhoe 15 returned. Mission Landscaping expects to keep the backhoe for about two or three weeks. Dec.26 Paid biweekly salaries, $4,700. Dec. 27 Paid the account payable to Earth Movers, Inc., 5900. Dec. 28 Declared a dividend of 10 cents per share, payable on January 15, Year 2. Dec. 29 Susquehanna Equipment Rentals was named, along with Mission Landscaping and Collier Construction, as a co-defendant in a $29,000 lawsurt filed on behalf of Kevin Davenport. Mission Landscaping had left the rented backhoe in a fenced construction site owned by Collier Construction. After working hours on December 26, Davenport had climbed the fence to play on parked construction equipment. While playing on the backhoe, he fell and broke his arm. The extent of the company's legal and financial responsibility for this accident, if any, cannot be determined at this tine. (Note: This event does not require a journal entry at this may require disclosure in notes accompanying the statements.) Dec. 29 Purchased a 12-month public liability insurance policy for $8,888. This policy protects the company against liability for injuries and property damage caused by its equipment. However, the policy goes into effect on January 1, Year 2, and affords no coverage for the injuries sustained by Kevin Davenport on December 26. Dec.31 Received a bill from Universal Utilities for the month of December, $610. Payment is due in 30 days. Dec.31 Equipment rental fees earned during the second half of December amounted to $20,200, of which $16,600 was received in cash. Dok ences Data for Adjusting Entries 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. d. Office supplies on hand at December 31 are estimated at $670. e. During December, the company earned $4,200 of the rental fees paid in advance by McNomer Construction Company on December 8 f. As of December 31, six days' rent on the backhoe rented to Mission Landscaping on December 26 has been earned. g. Salaries earned by employees since the last payroll date (December 26) amounted to $1,300 at month-end. h. It is estimated that the company is subiect to a combined foderal and state income tax rate of 40 nercent of income sive Problem Saved Help Save - wy on December 8. f. As of December 31, six days' rent on the 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 $1,300 at month-end. h. It is estimated that the company is subject to a combined federal and state income tax rate of 40 percent of Income before income taxes (total revenue minus all expenses other than income taxes). These taxes will be payable in Year 2 Comprehensive Problem 1 Part 2 Post the entries into the following ledger accounts. (Enter the transaction in chronological order for each of the Ledger accounts. Round your final answers to the nearest whole dollar.) Cash Accounts Receivable Debit Credit Date Debit Credit Balance Date Balance 290.000 131,000 11,700 8,900 4,700 Dec. 1 Dec. 1 Dec. 1 Dec. 8 Dec 12 Dec 15 Dec 23 Dec 26 Dec 27 Dec 29 13,000 2,700 290,000 159,000 147,300 156,200 151,500 164,500 167,200 162,500 161,600 152.720 169,320 4,700 900 8,880 Dec 31 16,600 Prepaid Rent Unexpired Insurance Prepaid Rent Debit Credit Unexpired Insurance Debit Credit Date Balance Date Balance Omice Supplies Debit Credit Rental Equipment Debit Credit Dato Balance Date Balance Accumulated Depreciation Rental Equipment Date Debit Credit Balance Notes Payable Debit Credit Date Balance Accounts Payable Debit Credit Interest Payable Debit Credit Date Balance Date Balance Salaries Pavable nivian Daukia Salarios Payable Debit Credit Dividends Payablo Dobit Credit Date Balance Date Balance Uneamed Rental Fees Debit Credit Income Taxes Payablo Debit Credit Date Balance Dato Balance es Capital Stock Debit Credit Retained Earnings Debit Credit Dato Balance Date Balance Dividends Debit Credit Income Summary Debit Credit Date Balance Date Balance Rental Fees Earned Debit Credit Salaries Expenso Debit Credit Date Balance Date Balance 12 Rental Fees Earned Debit Credit Salarios Expense Dobit Credit Date Balance Date Balance bu Maintenance Expense Debit Credit Utilities Expense Debit Credit Date Balance Date Balance Inces Rent Expense Debit Credit Data Office Supplies Expense Debit Credit Balance Date Balance Depreciation Expense Debit Credit Date Interest Expenso Dobit Credit Balance Date Balance Required information Rent Expense Debit Credit Office Supplies Expenso Dobit Credit Date Balance Date Balance Depreciation Expense Debit Credit Interest Expense Dobit Credit Date Balanco Dato Balance Income Taxes Expense Debit Credit Date Balance [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. Cash Accounts Receivable Prepaid Rent Unexpired Insurance Office Supplies Rental Equipment Accumulated Depreciation: Rental Equipment Notes Payable Accounts Payable Interest Payable Salaries Payable Dividends Payable Unearned Rental Fees Income Taxes Payable Capital Stock Retained Earnings Dividends Income Summary Rental Fees Earned Salaries Expense Maintenance Expense Utilities Expense Rent Expense Office Supplies Expense Depreciation Expense Interest Expense Income Taxes Expense The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December, the corporation entered into the following transactions, Dec. 1 Issued to John and Patty Driver 29,000 shares of capital stock in exchange for a total of $290,000 cash. Dec. 1 Purchased for $249,600 all of the equipment formerly owned by Rent-It. Paid $131,000 cash and issued a 1-year note payable for $118,600. The note, plus al 12 months of accrued interest, are due November 30, Year 2. Dec. 1 Paid $11,700 to Shapiro Realty as three months' advance rent on the rental yard and office formerly occupied by Rent-It. 3 2 of 7 Dec. 4 Purchased office supplies on account from Modern Office Co., $2,000. Payment due in 30 days. These supplies are expected to last for several months; debit the Office Supplies asset account.) Dec. 8 Received $8,900 cash as advance payment on equipment rental from McNamer Construction Company. (Credit Unearned Rental Fees.) Dec. 12 Paid salaries for the first two weeks in December, 54,700. Dec. 15 Excluding the McNamer advance, equipment rental fees earned during the first 15 days of December amounted to $18,300, of which $13,000 was received in cash. Dec. 17 Purchased on account fron Earth Movers, Inc., $900 in parts needed to repair a rental tractor. (Debit an expense account.) Payment is due in 10 days. Dec. 23 collected $2,700 of the accounts receivable recorded on December 15. Dec. 26 Rented a backhoe to Mission Landscaping at a price of $300 per day, to be paid when the backhoe 15 returned. Mission Landscaping expects to keep the backhoe for about two or three weeks. Dec.26 Paid biweekly salaries, $4,700. Dec. 27 Paid the account payable to Earth Movers, Inc., 5900. Dec. 28 Declared a dividend of 10 cents per share, payable on January 15, Year 2. Dec. 29 Susquehanna Equipment Rentals was named, along with Mission Landscaping and Collier Construction, as a co-defendant in a $29,000 lawsurt filed on behalf of Kevin Davenport. Mission Landscaping had left the rented backhoe in a fenced construction site owned by Collier Construction. After working hours on December 26, Davenport had climbed the fence to play on parked construction equipment. While playing on the backhoe, he fell and broke his arm. The extent of the company's legal and financial responsibility for this accident, if any, cannot be determined at this tine. (Note: This event does not require a journal entry at this may require disclosure in notes accompanying the statements.) Dec. 29 Purchased a 12-month public liability insurance policy for $8,888. This policy protects the company against liability for injuries and property damage caused by its equipment. However, the policy goes into effect on January 1, Year 2, and affords no coverage for the injuries sustained by Kevin Davenport on December 26. Dec.31 Received a bill from Universal Utilities for the month of December, $610. Payment is due in 30 days. Dec.31 Equipment rental fees earned during the second half of December amounted to $20,200, of which $16,600 was received in cash. Dok ences Data for Adjusting Entries 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. d. Office supplies on hand at December 31 are estimated at $670. e. During December, the company earned $4,200 of the rental fees paid in advance by McNomer Construction Company on December 8 f. As of December 31, six days' rent on the backhoe rented to Mission Landscaping on December 26 has been earned. g. Salaries earned by employees since the last payroll date (December 26) amounted to $1,300 at month-end. h. It is estimated that the company is subiect to a combined foderal and state income tax rate of 40 nercent of income sive Problem Saved Help Save - wy on December 8. f. As of December 31, six days' rent on the 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 $1,300 at month-end. h. It is estimated that the company is subject to a combined federal and state income tax rate of 40 percent of Income before income taxes (total revenue minus all expenses other than income taxes). These taxes will be payable in Year 2 Comprehensive Problem 1 Part 2 Post the entries into the following ledger accounts. (Enter the transaction in chronological order for each of the Ledger accounts. Round your final answers to the nearest whole dollar.) Cash Accounts Receivable Debit Credit Date Debit Credit Balance Date Balance 290.000 131,000 11,700 8,900 4,700 Dec. 1 Dec. 1 Dec. 1 Dec. 8 Dec 12 Dec 15 Dec 23 Dec 26 Dec 27 Dec 29 13,000 2,700 290,000 159,000 147,300 156,200 151,500 164,500 167,200 162,500 161,600 152.720 169,320 4,700 900 8,880 Dec 31 16,600 Prepaid Rent Unexpired Insurance Prepaid Rent Debit Credit Unexpired Insurance Debit Credit Date Balance Date Balance Omice Supplies Debit Credit Rental Equipment Debit Credit Dato Balance Date Balance Accumulated Depreciation Rental Equipment Date Debit Credit Balance Notes Payable Debit Credit Date Balance Accounts Payable Debit Credit Interest Payable Debit Credit Date Balance Date Balance Salaries Pavable nivian Daukia Salarios Payable Debit Credit Dividends Payablo Dobit Credit Date Balance Date Balance Uneamed Rental Fees Debit Credit Income Taxes Payablo Debit Credit Date Balance Dato Balance es Capital Stock Debit Credit Retained Earnings Debit Credit Dato Balance Date Balance Dividends Debit Credit Income Summary Debit Credit Date Balance Date Balance Rental Fees Earned Debit Credit Salaries Expenso Debit Credit Date Balance Date Balance 12 Rental Fees Earned Debit Credit Salarios Expense Dobit Credit Date Balance Date Balance bu Maintenance Expense Debit Credit Utilities Expense Debit Credit Date Balance Date Balance Inces Rent Expense Debit Credit Data Office Supplies Expense Debit Credit Balance Date Balance Depreciation Expense Debit Credit Date Interest Expenso Dobit Credit Balance Date Balance Required information Rent Expense Debit Credit Office Supplies Expenso Dobit Credit Date Balance Date Balance Depreciation Expense Debit Credit Interest Expense Dobit Credit Date Balanco Dato Balance Income Taxes Expense Debit Credit Date Balance