Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz do all entries ignore the previous question i need answer for this question i attached all the requirements 57% of available points - For

image text in transcribed

plz do all entries

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

ignore the previous question i need answer for this question i attached all the requirements

57% of available points - For transactions 13, review the unadjusted balance and prepare the adjusting entry necessary report the revenue earned or the expense incurred. After adjusting the accounts, review the financial statements for accurac Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Shayla Green owns Design Company. The trial balance of the firm for January 31,2024 , the first month of operations, is included on the trial balance tab. End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 2024; inventory of supplies on January 31,2024 , is $3,200. b. The prepaid advertising contract was signed on January 1,2024 , and covers a four-month period. c. Rent of $4,200 expired during the month. d. Depreciation is computed using the straight-line method. The equipment has an estimated useful life of 10 years with no salvage value. 33% of available points - General Journal tab - For transactions 1-4, review the unadjusted balance (See the general ledger tab) and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the financial statements for accuracy. No input required-General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the dropdown button to view the unadjusted or adjusted balances. No input required - Trial Balance tab - You may view elther the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. 14% of available points - Income Statement tab - Use the dropdowns to select the accounts to be displayed (Unadjusted or Adjusted). The balances will appear for each account, based on your selection. No input required-Statement of Owner's Equity tab - The unadjusted or adjusted balances will appear for each account, based on your selection. 27% of available points - Balance Sheet tab - Use the dropdowns to select the accounts to be displayed (Unadjusted or Adjusted). The balances will appear for each account, based on your selection. 26% of available points - Impact on Income tab-For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. No input required-Each joumal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances. No input required -The unadjusted or adjusted balances will appear for each account, based on your "Adjusted" of "Unadjusted", you will sees the impace of your adjustrmento. was dethed to the Rropent sover account. saventory of sippties at the end of lune showed that ifeins costitio 90,275 were on hand and no salvage value. The firm will use the straight-line method of depreciation. No imput required - Every adjusting entry affects both the income statement and the balanee sheet. By setecting "Adjusted" or "Unadjusted", you will see the impact of your adjustments. No input required - You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box selow. Your choice will determine the reported values on the financial statement tabs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Define demand. What are the three basic elements in the definition?

Answered: 1 week ago

Question

1. Define mass and mediated communication

Answered: 1 week ago