Prove the equality of debita and credits in the lodger by preparing a post-closing triel balance. If a permanent True Top Company Pont-Cloning Trial Balance January 31, 2025 Balance Account Title Debit Credit Total Requirement 5. Compute the gross profit percentage for January for Tree Top Company. (Round the grous Gross profit Choose from any list or enter any number in the input fields and then continue to the next question Requirements ne ($310) e. 1. Joumalize and post the January transactions. Omit explanations. Use the ledger provided for posting. 2 Journalize and post the adjusting entries for the month of January. Omit explanations. Denote each adjustment as Ady, Compute each account balance, and denote the balance as Bal. In addition, Tree Top Company provides this data: a A physical count of the inventory at the end of the month revealed the cost was $4,011. b. The company estimated sales retums will be $120 with a cost of $60. Oflice supplies used, $60. d. The Unearned Revenue has now been eamed. Interest expense accrued on the notes payable, $30. 1. Rent of one month has been used. (On December 1, the company prepaid $3,900 for three months' rent on the warehouse where the company stores the canoes. On December 31, the company recorded one month's worth of rent expense for the month of December in the amount of $1,300.) Monthy depreciation on the building amounts to $600. h. Monthy depreciation on the canoes amounts to $270. 3. Prepare the month ended January 31, 2025, single step income statement of Tree Top Company Journalize and post the closing entries. Omit explanations. Denote each closing amount as Clo, and each balance as Bal. After posting al closing entries, prove the equality of debits and credits in the ledger by preparing a post-closing trial baance. 5. Compute the gross profit percentage for January for Tree Top Company Pages P Print Done for this transaction) 0 Non-Merchandising Transactions and un Payable Jan. 2 Collected $3,700 on account. Paid the utilities and telephone bils from December. (On December 20, the company received bills for the telephone ($310) and utilities ($290). At that time the company recorded a Telephone Payable Jan. 15 liability and a Utilities Payable liability, respectively.) Paid the wages accrued in December. (Wages accrued in December Jan. 15 amounted to $1,150 and was recorded as a Wages Payable liability.) Jan. 18 Rented canoes and received cash, $2,100. Received bills for utilities ($320) and telephone ($250) which will be Jan. 20 paid later. Jan. 23 Paid various accounts payable, $1,400. Jan. 30 Paid employee, $1.200. able Print Done Requirement 1. Journalize and post the January transactions. Omit explanations. Use the ledger provided for Begin by Journalizing the non-merchandising January transactions. Omit explanations. (Record debits first, the Jan. 2: Colected $3,700 on account. Date Accounts Debit Credit Jan 2 Cash Accounts Receivable 3700 3700 Jan. 15: Pald the utilities and telephone bills from December. (On December 20, the company received bills for the Date Accounts Debit Credit Jan 15 Telephone Payable 3101 Utilities Payable 2901 Cash 600 Jan. 15. Paid the wages accrued in December (Wages scored in December amounted to $1,150 and was recorde Date Accounts Debit Credit Jan. 15 Wages Payable 1150 Cash 1150 Jan. 18. Rented canoes and received cash $2,100 Date Accounts Jan 18 Debit Credit Canoe Rental Revenue 21001 2100 Recewed bills for tiles 15320) and telephone (5290) which will be paid later. (Prepare a single compound jour Dale Accounts Debit Credit 20 pense 320 Teh Paya 250 Choose from any list or emberi Tree Top Company baservice based company that ronto cances for use on local lakes and vora. At the beginning of T-shirts with its logo printed on thom. Treo Top Company uses the perpetual Inventory system to account for the invento merchandising tranendon, and posted the merchandising transactions to the loder account. Date Account Dabit Credit Lan. 15 1150 Wages Payable Cash 1150 Jan. 18: Rented canoes and received cash, $2,100, Date Accounts Debit Credit Jan 18 2100 Cash Canoe Rental Revenue 2100 Jan. 20. Received bills for utilities ($320) and telephone ($250) which will be paid later. (Prepare a single compound joue Date Accounts Debit Credit Jan. 20 Ulities Expense 320 Telephone Payable 250 dan. 23. Pald various accounts payable, $1.400. Date Accounts Debit Credit Jan 23 14001 Accounts Payable Cash 1400 Jan. 30: Paid employee. $1 200 Date Accounts Debit Credit 30 Wagen Expense 1300 12001 The opening balances of each account that were determined alter recording the January merchandising transactions a date that feel the best po 10 aderas you prepared the malene bove. Foram