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plz solve all entries 14... plz do all parts Shayla Green owns Design Company. The trial balance of the firm for January 31, 2024, the
plz solve all entries 14...
plz do all parts
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. Show less 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 either 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 Fquity tab - The unadjusted or adjusted balances will appear for leach 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 - You may view either 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 point - Using the dropdowns, select the account titles of the accounts properly included statement. The dollar amounts (either adjusted or unadjusted) will autopopulate based on your selection. Journal entry worksheet Depreciation is computed using the straight-line method. The equipment has an estimated useful life of 10 years with no salvage value. Note: Enter debits before credits. 33% of available points - For transactions 14, review the unadjusted balance (found on the General Ledger or Trial Balar prepare the adjusting entry necessary to correctly report the revenue earned or expense incurred. After adjusting the accou the financial statements for accuracy. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Supplies were purchased on January 1,2024 ; inventory of supplies on January 31,2024 , is $3,200. Note: Enter debits before credits. a. Supplies were purchased on January 1, 2024; inventory of supplies on January 31, 2024, is $3,200. a. 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 no salvage value, 27% of available points - Using the dropdowns, select the account titles of the accounts properly included on the bala sheet. The dollar amounts (either adjusted or unadjusted) will autopopulate based on your selection. Journal entry worksheet Rent of $4,200 expired during the month. Note: Enter debits before credits. a. Supplies were purchased on lanuary 1, 2024; inventory of supplies on lanuary 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 usefut life of 10 years with no salvage value. No input required -The unadjusted or adjusted balances will appear for each account, based on your selection. The prepaid advertising contract was signed on January 1,2024 , and covers a four-month period. Note: Enter debits before credits. No input required-Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances. b. The prepold advertising contrast was sigoed on lamairy 1, 2024, and covers a four month period. c. Rent of $4,200 expirce during the nonth. value. Show loss a ( 26% of available points) The adjusting entry process is critical to the accuracy of financial statements. We know that every adjusting entry affects one income statement account, one balance sheet account, but never cash. 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. Net income before adjustments can be found on the income statement tab. (Hint: Seled unadjusted on the dropdown.) Show less aStep by Step Solution
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