post closing

Required Information [The following information applies to the questions displayed below) Colton Enterprises experienced the following events for Year 1, the first year of operation: 1. Acquired $48.000 cash from the issue of common stock. 2. Pald $13,300 cash in advance for rent. The payment was for the period April 1. Year 1. to March 31, Year 2 3. Performed services for customers on account for $98.000 4. Incurred operating expenses on account of $41,500. 5. Collected $75,000 cash from accounts receivable 6. Paid $34.000 cash for salary expense. 7. Pald $33,200 cash as a partial payment on accounts payable. Adjusting Entries 8. Made the adjusting entry for the expired rent. (See Event 2) 9. Recorded $5,000 of accrued salaries at the end of Year 1. inces Events for Year 2 1. Paid $5,000 cash for the salaries accrued at the end of the prior accounting period. 2. Performed services for cash of $47.000, 3. Purchased $4.100 of supplies on account 4. Pald $14.400 cash lo advance for rent. The payment was for one year beginning April 1. Year 2 5. Performed services for customers on account for $114,000 6. Incurred operating expenses on account of $54,500 7. Collected $102,000 cash from accounts receivable. 8. Paid $52,000 cash as a partial payment on accounts payable 9. Pald $32.800 cash for salary expense 10. Pald a $10,000 cash dividend to stockholders Adjusting Entries 11. Made the adjusting entry for the expired rent. (Hint Part of the rent was pald In Year 1.) 12. Recorded supplies expense. A physical count showed that $550 of supplies were still on hand. b. Post the Year 1 events to T-accounts Accounts Receivable 13 > G #ezto.mheducation.com/ext/map/index.html?con=con external browser & launchurl=http%253A%252F%252Fne Oster The Homework 12 Part Required information The following information applies to the questions played below) Colton Esses experienced the following events for Year the first you of operation 10 Acquired $48.000 Cath from the of common stock 2 Paid $3.300 cash in advance for rent. The payment was for the pened Apr Yeart to March 3, Year 2 2. Performed services for cuttomers on account for $98.000 4. Incurred operating expenses on account of $41500 5.Collected $75.000 cash from accounts receivable 6. Pad $34.000 cash for wy expense z Pad $33,200 cash as a partial payment on accounts payable Austing Entries 8. Made the agusting entry for the preront (See Evert 21 9. Recorded $6.000 of accruedes at the end of Events for Year 2 1. Paid $5.000 cash for the salaries accrued at the end of the prior accounting period 2. Performed services for cash of $42.000 3. Purchased $4500 of supplies on account 4. Paid $14,400 cash in advance for rent. The payment was for one year beginning April 1. Year 2 5. Performed services for customers on account for $114.000 6. Incurred operating expenses on account of $54.500 2. Collected $102.000 cash from accounts receivable 8. Paid $52.000 cash as a por payment on accounts payable 9. Pad $32.800 cash for salary expense 10. Paid a $10,000 cash vided to sociades Adjusting Contes 11. Made the story for the expired font Hint part of the rented War 12. Recorded supples expense. A physical court showed $550 of supplies were si on hand . Prepare a post.closing a balance for December 31 COLTONENTERPRISE Pou Cong Tande Type here to search O Required Information [The following information applies to the questions displayed below) Colton Enterprises experienced the following events for Year 1, the first year of operation: 1. Acquired $48.000 cash from the issue of common stock. 2. Pald $13,300 cash in advance for rent. The payment was for the period April 1. Year 1. to March 31, Year 2 3. Performed services for customers on account for $98.000 4. Incurred operating expenses on account of $41,500. 5. Collected $75,000 cash from accounts receivable 6. Paid $34.000 cash for salary expense. 7. Pald $33,200 cash as a partial payment on accounts payable. Adjusting Entries 8. Made the adjusting entry for the expired rent. (See Event 2) 9. Recorded $5,000 of accrued salaries at the end of Year 1. inces Events for Year 2 1. Paid $5,000 cash for the salaries accrued at the end of the prior accounting period. 2. Performed services for cash of $47.000, 3. Purchased $4.100 of supplies on account 4. Pald $14.400 cash lo advance for rent. The payment was for one year beginning April 1. Year 2 5. Performed services for customers on account for $114,000 6. Incurred operating expenses on account of $54,500 7. Collected $102,000 cash from accounts receivable. 8. Paid $52,000 cash as a partial payment on accounts payable 9. Pald $32.800 cash for salary expense 10. Pald a $10,000 cash dividend to stockholders Adjusting Entries 11. Made the adjusting entry for the expired rent. (Hint Part of the rent was pald In Year 1.) 12. Recorded supplies expense. A physical count showed that $550 of supplies were still on hand. b. Post the Year 1 events to T-accounts Accounts Receivable 13 > G #ezto.mheducation.com/ext/map/index.html?con=con external browser & launchurl=http%253A%252F%252Fne Oster The Homework 12 Part Required information The following information applies to the questions played below) Colton Esses experienced the following events for Year the first you of operation 10 Acquired $48.000 Cath from the of common stock 2 Paid $3.300 cash in advance for rent. The payment was for the pened Apr Yeart to March 3, Year 2 2. Performed services for cuttomers on account for $98.000 4. Incurred operating expenses on account of $41500 5.Collected $75.000 cash from accounts receivable 6. Pad $34.000 cash for wy expense z Pad $33,200 cash as a partial payment on accounts payable Austing Entries 8. Made the agusting entry for the preront (See Evert 21 9. Recorded $6.000 of accruedes at the end of Events for Year 2 1. Paid $5.000 cash for the salaries accrued at the end of the prior accounting period 2. Performed services for cash of $42.000 3. Purchased $4500 of supplies on account 4. Paid $14,400 cash in advance for rent. The payment was for one year beginning April 1. Year 2 5. Performed services for customers on account for $114.000 6. Incurred operating expenses on account of $54.500 2. Collected $102.000 cash from accounts receivable 8. Paid $52.000 cash as a por payment on accounts payable 9. Pad $32.800 cash for salary expense 10. Paid a $10,000 cash vided to sociades Adjusting Contes 11. Made the story for the expired font Hint part of the rented War 12. Recorded supples expense. A physical court showed $550 of supplies were si on hand . Prepare a post.closing a balance for December 31 COLTONENTERPRISE Pou Cong Tande Type here to search O