pls do journal, income statement, statement of stockholders equity, and balance sheet. thank you
[The following information applies to the questions displayed below.] One Product Corporation (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of operations, were: 21,380 8,280 1,015 12, 240 1,860 40,600 3,960 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Sales Tax Payable FICA Payable withheld Income Taxes Payable Salaries and Wages Payable Unemployment Tax Payable Deferred Revenue Interest Payable Notes Payable (long-term) Common Stock Additional Paid-In Capital, Common Retained Earnings Treasury Stock 500 600 500 1,600 300 4,500 524 23,300 17,000 19,831 14,730 4,000 The following information is relevant to the first month of operations in the following year: OPC sells its inventory at $150 per unit, plus sales tax of 6 percent OPC's January 1 inventory balance consists of 180 units at a total cost of $12,240. OPC's policy is to use the FIFO method, recorded using a perpetual inventory system The $1,860 in Prepaid Rent relates to a payment made in December for January rent this year. The equipment was purchased on July 1 of last year. It has a residual value of $1,000 and an expected life of five years. It is being depreciated using the straight-line method. Employee wages are $4.000 per month. Employees are paid on the 16th for the first half of the month and on the first day of the following month for the second half of each month. Withholdings each pay period include $250 of income taxes and $150 of FICA taxes. These withholdings and the employer's matching contribution are paid monthly on the second day of the following month. In addition, unemployment taxes of $50 are accrued each pay period, and will be paid on March 31. . Deferred Revenue is for 30 units ordered and paid for in advance by two customers in late December. One order of 25 units is to be filled in January, and the other will be filled in February Notes Payable arises from a three-year, 9 percent bank loan received on October 1 last year. The par value on the common stock is $2 per share. Treasury Stock arises from the reacquisition of 500 shares at a cost of $8 per share. January Transactions a. On 101. OPC paid employees salaries and wages that were previously accrued on December 31. b. A truck is purchased on 1/02 for $8,000 cash. It is estimated this vehicle will be used for 50,000 miles, after which it will have no residual value. c. Payroll withholdings and employer contributions for December are remitted on 1/03. d. OPC declares a $0,50 cash dividend on each share of common stock on 104 to be paid on 1/10. e. A $1,015 customer account is written off as uncollectible on 1/05 1 On 1/06, recorded sales of 175 units of inventory on account. Sales tax is charged but not yet collected or remitted to the state. 9. Sales taxes of $500 that had been collected and recorded in December are paid to the state on 1/07 h. On 1/08, OPC issued 300 shares of treasury stock for $2,400. Collections from customers on account totaling $17,821, are recorded on 1/09. JOn 1/10 OPC distributes the $0.50 cash dividend declared on January 4. The company's stock price is currently $5 per share, * OPC purchases on account and receives 70 units of inventory on 111 for $4,200. The equipment purchased last year for $40,600 is sold on 1/15 for $41,200 cash. Record depreciation for the first half of January prior to recording the equipment disposal. m. Payroll for January 1-15 is recorded and paid on 1/16. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes. n. Having sold the equipment, OPC pays off the note payable in full on 1/17. The amount paid is $23,920, which includes Interest accrued in December and an additional $96 interest through January 17, o On 1/27, OPC records sales of 30 units of inventory on account Sales tax is charged but not yet collected or remitted. p. A portion of the advance order from December (25 units) is delivered on 1/29. No sales tax is collected on this transaction because the customer is a U.S. governmental organization that is exempt from sales tax. q. To obtain funds for purchasing new equipment, OPC issued bonds on 1/30 with a total face value of $103,000, stated interest rate of 5 percent, annual compounding, and six-year maturity date. OPC received $93.181 from the bond issuance, which implies a market interest rate of 7 percent. On 1/31 OPC recorre units.nf.production depreciation on the vehicle truck which was driven 2000 miles this month General Journal General Ledger Trial Balance Requirement Statem Stockh Equ Income Statement Choose the appropriate accounts to be reported on the income statement. Sele then populate the balances in those accounts from the trial balance. Adjusted ONE PRODUCT CORPORATION Income Statement For the Month Ended January 31 Revenues Sales Revenue 26,250 $ 0 Gross Profit $ 26,250 0 0 0 Expenses Rent Expense Bad Debt Expense Depreciation Expense Salaries and Wages Expense Payroll Tax Expense Loss(Gain) on Disposal Income from Operations 0 0 $ 26,250 0 Income before Income Tax Expense 26,250 Net Income $ 26,250 Statement of General General Income Requirement Trial Balance Stockholders Balance Sheet Analy Journal Ledger Statement Equity The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Yo determine and enter the beginning and ending balances. Adjusted ONE PRODUCT CORPORATION Statement of Stockholders' Equity For the Month Ended January 31 Additional Paid Common Stock In Capital Common Retained Earinings Treasury Stock $ 14,730 Beginning Stock Issuances Net Income Dividends Ending 26,250 (4,000) 36,980 Statement of General General Income Requirement Trial Balance Stockholders Balance Sheet Journal Ledger Statement Equity Use the dropdowns to select the accounts properly included on the classified balance sheet. The unad post-closing balances will appear for each account, based on your selection. Adjusted ONE PRODUCT CORPORATION Balance Sheet At January 31 Assets 27 Current Assets 0 0 0 0 0 0 0 $ 0 0 0 0 [The following information applies to the questions displayed below.] One Product Corporation (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of operations, were: 21,380 8,280 1,015 12, 240 1,860 40,600 3,960 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Sales Tax Payable FICA Payable withheld Income Taxes Payable Salaries and Wages Payable Unemployment Tax Payable Deferred Revenue Interest Payable Notes Payable (long-term) Common Stock Additional Paid-In Capital, Common Retained Earnings Treasury Stock 500 600 500 1,600 300 4,500 524 23,300 17,000 19,831 14,730 4,000 The following information is relevant to the first month of operations in the following year: OPC sells its inventory at $150 per unit, plus sales tax of 6 percent OPC's January 1 inventory balance consists of 180 units at a total cost of $12,240. OPC's policy is to use the FIFO method, recorded using a perpetual inventory system The $1,860 in Prepaid Rent relates to a payment made in December for January rent this year. The equipment was purchased on July 1 of last year. It has a residual value of $1,000 and an expected life of five years. It is being depreciated using the straight-line method. Employee wages are $4.000 per month. Employees are paid on the 16th for the first half of the month and on the first day of the following month for the second half of each month. Withholdings each pay period include $250 of income taxes and $150 of FICA taxes. These withholdings and the employer's matching contribution are paid monthly on the second day of the following month. In addition, unemployment taxes of $50 are accrued each pay period, and will be paid on March 31. . Deferred Revenue is for 30 units ordered and paid for in advance by two customers in late December. One order of 25 units is to be filled in January, and the other will be filled in February Notes Payable arises from a three-year, 9 percent bank loan received on October 1 last year. The par value on the common stock is $2 per share. Treasury Stock arises from the reacquisition of 500 shares at a cost of $8 per share. January Transactions a. On 101. OPC paid employees salaries and wages that were previously accrued on December 31. b. A truck is purchased on 1/02 for $8,000 cash. It is estimated this vehicle will be used for 50,000 miles, after which it will have no residual value. c. Payroll withholdings and employer contributions for December are remitted on 1/03. d. OPC declares a $0,50 cash dividend on each share of common stock on 104 to be paid on 1/10. e. A $1,015 customer account is written off as uncollectible on 1/05 1 On 1/06, recorded sales of 175 units of inventory on account. Sales tax is charged but not yet collected or remitted to the state. 9. Sales taxes of $500 that had been collected and recorded in December are paid to the state on 1/07 h. On 1/08, OPC issued 300 shares of treasury stock for $2,400. Collections from customers on account totaling $17,821, are recorded on 1/09. JOn 1/10 OPC distributes the $0.50 cash dividend declared on January 4. The company's stock price is currently $5 per share, * OPC purchases on account and receives 70 units of inventory on 111 for $4,200. The equipment purchased last year for $40,600 is sold on 1/15 for $41,200 cash. Record depreciation for the first half of January prior to recording the equipment disposal. m. Payroll for January 1-15 is recorded and paid on 1/16. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes. n. Having sold the equipment, OPC pays off the note payable in full on 1/17. The amount paid is $23,920, which includes Interest accrued in December and an additional $96 interest through January 17, o On 1/27, OPC records sales of 30 units of inventory on account Sales tax is charged but not yet collected or remitted. p. A portion of the advance order from December (25 units) is delivered on 1/29. No sales tax is collected on this transaction because the customer is a U.S. governmental organization that is exempt from sales tax. q. To obtain funds for purchasing new equipment, OPC issued bonds on 1/30 with a total face value of $103,000, stated interest rate of 5 percent, annual compounding, and six-year maturity date. OPC received $93.181 from the bond issuance, which implies a market interest rate of 7 percent. On 1/31 OPC recorre units.nf.production depreciation on the vehicle truck which was driven 2000 miles this month General Journal General Ledger Trial Balance Requirement Statem Stockh Equ Income Statement Choose the appropriate accounts to be reported on the income statement. Sele then populate the balances in those accounts from the trial balance. Adjusted ONE PRODUCT CORPORATION Income Statement For the Month Ended January 31 Revenues Sales Revenue 26,250 $ 0 Gross Profit $ 26,250 0 0 0 Expenses Rent Expense Bad Debt Expense Depreciation Expense Salaries and Wages Expense Payroll Tax Expense Loss(Gain) on Disposal Income from Operations 0 0 $ 26,250 0 Income before Income Tax Expense 26,250 Net Income $ 26,250 Statement of General General Income Requirement Trial Balance Stockholders Balance Sheet Analy Journal Ledger Statement Equity The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Yo determine and enter the beginning and ending balances. Adjusted ONE PRODUCT CORPORATION Statement of Stockholders' Equity For the Month Ended January 31 Additional Paid Common Stock In Capital Common Retained Earinings Treasury Stock $ 14,730 Beginning Stock Issuances Net Income Dividends Ending 26,250 (4,000) 36,980 Statement of General General Income Requirement Trial Balance Stockholders Balance Sheet Journal Ledger Statement Equity Use the dropdowns to select the accounts properly included on the classified balance sheet. The unad post-closing balances will appear for each account, based on your selection. Adjusted ONE PRODUCT CORPORATION Balance Sheet At January 31 Assets 27 Current Assets 0 0 0 0 0 0 0 $ 0 0 0 0