please help with the one i got wrong.
Question 1 of 1 - / 30 current Attempt in Progress Pharoah Company's balance sheet at December 31, 2021. is presented below. Pharoah Company Balance Sheet December 31, 2021 Cash $13,720 Accounts payable Accounts receivable 20,500 Common stock Allowance for doubtful accounts (780) Retained earnings Inventory 9.550 $42.990 $8,680 20,700 13,610 $42.990 During January 2022, the following transactions occurred. Pharoah uses the perpetual inventory method. Jan 1 3 8 11 15 Pharoah accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $4,800 account Pharoah wrote off as uncollectible the accounts of Walter Corporation ($500) and Drake Company (S300). Pharoah purchased $16,380 of inventory on account. Pharoah sold for $25.800 on account inventory that cost $16,470. Pharoah sold inventory that cost $670 to Jack Rice for $900. Rice charged this amount on his Visa First Bank card. The service fee charged Pharoah by First Bank is 3%. Pharoah collected $21,600 from customers on account Pharoah paid $17,600 on accounts payable, Pharoah received payment in full ($300) from Drake Company on the account written off on January 3 Pharoah purchased advertising supplies for $1,280 cash, Pharoah paid other operating expenses, $3,260. 17 21 24 27 31 Adjustment data: 1. 2. 3. Interest is recorded for the month on the note from January 1. Bad debts are expected to be 6% of the January 31, 2022, accounts receivable. A count of advertising supplies on January 31, 2022, reveals that $540 remains unused. The income tax rate is 30%. (Hint: Prepare the income statement up to Income before taxes and multiply by 30% to compute the amount: round to whole dollars.) 4. estion 1 of 1 $ $ 14353 $ $ 8790 Inventory 540 Supplies 32 Interest Receivable Notes Receivable 4800 Accounts Receivable 19100 Allowance for Doubtful Accounts 1146 Accounts Payable 7460 Income Taxes Payable 1391 Common Stock 20700 Retained Earnings 13610 Sales Revenue 26700 Interest Revenue 3 Costor Goods Sold 17140 Fee Expense 27 Other Operating Expenses 3260 Bad Debits Expos 866 20.54 / 30 stion 1 of 1 7460 Accounts Payable 1391 Income Taxes Payable 20700 Common Stock 13610 Retained Earnings 26700 Sales Revenue 30 Revenue Interest Revenue 32 Cost of Goods Sold 17140 Fee Expense 27 Other Operating Expenses 3260 Bad Debts Expense 866 Supplies Expense 740 Income Tax Expense 1391 Totals $ 71039 tA 71039 e Textbook and Media List of Accounts Income Statement For the Month Ending January 31, 2022 4 26700 Sales Revenues (17140) Cost of Goods Sold 9560 Gross Profit Operating Expenses $ 27 i Card fee expenses 3260 i Other Operating Expenses 866 Bad Debts Expense 740 Supplies Expenses 4893 i Income From Operations Income From Operations 4667 Income From Operations 384 Introvence Income Before Income Taxes 5051 Incone Tax Expen (1515) Net Income/(Loss) 3536 Your answer is partially correct. Prepare a retained earnings statement for the month ending January 31, 2022. (Round answe 1,250.) PHAROAH COMPANY Retained Earnings Statement January 31, 2022 Retained Earnings January 1 13610 Add 3 Net Income /(Loss) 3536 Retained Earnings, January 31 17146 eTextbook and Media List of Accounts Your answer is partially correct 80 Du F2 F3 F FO 2 FR # A & 2 $ 4 3 % 5 6 7 8 W ER 11 20.54/30 stion 1 of 1 Balance Sheet For the Month Ending January 31, 2022 Assets Current Assets Accounts Receivable Liabilities and Stockholders' Equity Current Limite Sincbolders City 30 3 288 D DO FR 7 % # 3 & S 4 5 6 7 00 9 9 0 E R T U 1 0 20.54/30 estion 1 of 1 $ Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Income Taxes Payable Stockholders' Equity LU
