Please solve this one urgent
Asaignemen is - Value 5x On Decenter 1, 2021, Ueorge and Myra atarted a couporation caled Cuper metal tquipment. The haw. corporation began eperations imvidiately as they were able to purchase assets frem a hecal compary called The Rental Flaoe that weat out of buiness. The newly ootned beriness, Cager Rental Eeabment. uses the follonine aocounts fer ther epersions: Caper Rentye Tequpment performs adusting estries monthly Cloure entries are performed annuuly on December M4", Ouring Decomber, the compeny enteres the following tranactiont - Decenter 1 baved 20,000 shaves of centreuted casital in exclunge for 5100,000cah. - December t. Furchased al of the equipmens fomerly owned by The Rental Place for isuopoo. Paid 5140,000 canh and vigned a two veue note puyable for the balance. - December t - Rad $12,000 for three monets fent. The rental periged begies December 1 and ends february 28. - Cecember st Parchased office replies on acosont for 51.000, Frymest is due in 30 dyrs. - Pecenber 8*. Recelved 58000 casb an as asvance pirment cn equipment rental fram loe Macbenald for their cmituruction compamp. - Cecember 1222. Faid Salaries for the frat two wreks in December nociling 3S, 200. were 515000 of which $17,000 was received in cash and the remainder in an accesnts iecevable. - December 172. Punchased $600 in parte needed to repair equipment (maintenance eapenoe]. Furchaned the parti on account. - Cecember 232. Collecsed 52,000 of the acrounei eeceivable recordes on December 15. - Cecember 26*- Pald biweebly satarias 55,200 - Decenter 27". Paid Scco towards an accounts popable balance - Ceoenber 252. Gechred a didend of to cents per ihure, payable on lasuar 15, 2002. - Decenter 29" Purchused a 12-month insirance policy tar 59.100: Ther paid cach for the policy and it tegins furwany 1. 2082 and endi Pecember i1, 2022. - December zy. Aeceived a vility bil for 5700 for the mionth of Oecember. Payment in due in 35 davs: of whith, $15,600 was collected in canh. Faye 2 of 3 Addibional Data Froinded: - Tee advance paymen of rent on December 1 " covered i period af 3 monehs (December is Febrearyl - Pe iental equloment purchaied is beirs depreciated on a straight-line bawa over 12 yeart. - affice meplieis on hand on December 31 total sioo. - Curine beceenber, the congary cursed \$3, 700 of the rental feris gaid by doe Mucbenald on Cecember y y2 : - Selaries eamed by the employees trom December 26" be December 31" cotalled 51,400. This wil not be pad until me enat pay dey laruary ?".. Requirements: 3. Preaare joumal entries for the Decwiber branuetions. Deseriptient are not required. You de not need be prepure adfunting entries in requirement 1. 2. Uping the addional data previded, prepare the required adiusting isurnal entries for December 31", 3. Prepare at income Matement for the year ended December 31", 202.. 4. Prepare a vatiment of retained earnings for the year ended December it ", 2021. Asaignemen is - Value 5x On Decenter 1, 2021, Ueorge and Myra atarted a couporation caled Cuper metal tquipment. The haw. corporation began eperations imvidiately as they were able to purchase assets frem a hecal compary called The Rental Flaoe that weat out of buiness. The newly ootned beriness, Cager Rental Eeabment. uses the follonine aocounts fer ther epersions: Caper Rentye Tequpment performs adusting estries monthly Cloure entries are performed annuuly on December M4", Ouring Decomber, the compeny enteres the following tranactiont - Decenter 1 baved 20,000 shaves of centreuted casital in exclunge for 5100,000cah. - December t. Furchased al of the equipmens fomerly owned by The Rental Place for isuopoo. Paid 5140,000 canh and vigned a two veue note puyable for the balance. - December t - Rad $12,000 for three monets fent. The rental periged begies December 1 and ends february 28. - Cecember st Parchased office replies on acosont for 51.000, Frymest is due in 30 dyrs. - Pecenber 8*. Recelved 58000 casb an as asvance pirment cn equipment rental fram loe Macbenald for their cmituruction compamp. - Cecember 1222. Faid Salaries for the frat two wreks in December nociling 3S, 200. were 515000 of which $17,000 was received in cash and the remainder in an accesnts iecevable. - December 172. Punchased $600 in parte needed to repair equipment (maintenance eapenoe]. Furchaned the parti on account. - Cecember 232. Collecsed 52,000 of the acrounei eeceivable recordes on December 15. - Cecember 26*- Pald biweebly satarias 55,200 - Decenter 27". Paid Scco towards an accounts popable balance - Ceoenber 252. Gechred a didend of to cents per ihure, payable on lasuar 15, 2002. - Decenter 29" Purchused a 12-month insirance policy tar 59.100: Ther paid cach for the policy and it tegins furwany 1. 2082 and endi Pecember i1, 2022. - December zy. Aeceived a vility bil for 5700 for the mionth of Oecember. Payment in due in 35 davs: of whith, $15,600 was collected in canh. Faye 2 of 3 Addibional Data Froinded: - Tee advance paymen of rent on December 1 " covered i period af 3 monehs (December is Febrearyl - Pe iental equloment purchaied is beirs depreciated on a straight-line bawa over 12 yeart. - affice meplieis on hand on December 31 total sioo. - Curine beceenber, the congary cursed \$3, 700 of the rental feris gaid by doe Mucbenald on Cecember y y2 : - Selaries eamed by the employees trom December 26" be December 31" cotalled 51,400. This wil not be pad until me enat pay dey laruary ?".. Requirements: 3. Preaare joumal entries for the Decwiber branuetions. Deseriptient are not required. You de not need be prepure adfunting entries in requirement 1. 2. Uping the addional data previded, prepare the required adiusting isurnal entries for December 31", 3. Prepare at income Matement for the year ended December 31", 202.. 4. Prepare a vatiment of retained earnings for the year ended December it ", 2021
