question is on last photo at bottom but i just need the jorunal, adusting, and closing entries. a bonus if you can provide tje balances as well!!

Viezuchter Company, April 1 - December 31 (Assume all purchases are made in cash unless otherwise stated) April 1" The company sold some outdated equipment. The old equipment had a historical cost of $10,000, accumulated depreciation of $500 and was sold for $9,300 cash. Viezuchter replaced the sold equipment with a $30,000 new machine and made repairs to some preexisting equipment for $10,000 to keep the equipment at full capacity. The new equipment has a useful life of 3 years and no estimated salvage. Kris and William reached a mutual decision to discontinue its flagging restorations segment of business, holding it for sale but continuing their restoration operations until the division was sold. In addition, they determined there was ample demand to begin merchandising available engine parts. Viezuchter paid off all of its existing accounts payable and purchased another $150,000 of supplies n credit, deciding that its increasing business warranted a bulk order. Viezuchter paid its employees the $1,000 owed from the prior quarter. The company paid its estimated taxes from the first quarter. Viezuchter established a prepaid contract with a local shipping company, agreeing to repairs its trucks over a period of one year for $150,000; cash was paid by the shipping company on April 1- the contract entitles the customer to unlimited repairs over the period. William suggests the company recognize revenue ratably over the year. William invested $75,000 in debt securities and $40,000 in equity securities. William suggested Viezuchter Co. hold $50,000 of the debt securities as held to maturity and the remaining $25,000 debt securities as available for sale (all debt securities had a maturity of 20 years and were issued at par, both issues have a 3% stated rate payable 3/31 of each year). The equity securities were all classified as trading securities. William correctly suggests the following journal entry for these securities: Trading Securities - Equity Securities 160,000 States) Trading Securities - Equity Securities Available for Sale Securities - Debt Securities Held-to-Maturity Securities - Debt Securities Cash 160,000 100,000 200,000 460,000 Merchandising purchase and sales log Viezuchter uses the specific identification method to assign the cost of merchandise sold. All'inventory purchases are made on credit and all sales are made in cash. Viezuchter uses the perpetual system of recording inventory transactions, recording cost of goods sold with each sale on the day the sale is made. Date 4/1 Transaction Purchase Sale Purchase Sale Sale Purchase Sale 6/20 Sale price N/A $31.000 N/A $45,000 $30,000 N/A $72,000 Cost $30,000 $22,000 $41.000 $27,000 $20,000 $50,000 $42,500 10/1 11/5 April 2" - December 31" (for simplicity date all transactions as of 12/31) United State April 2" - December 31" (for simplicity date all transactions as of 12/31) The company's invoices indicated the following repairs and restorations: Repairs to diesel engines $1,300,000 Restoring cars $32,500 70% of these services were paid in cash and 30% through customers paying on credit. $125,000 of supplies were used in rendering these services. Viezuchter paid its outstanding supply and inventory credit contracts for garage supplies leaving a $15,000 balance to be paid in 2020. Utilities expenses incurred during these months amounted to $85,000 and were paid on 12/31. Viezuchter collected $350,000 of its credit sales. Viezuchter paid its employees $300,000 for their services during 2019 and promised a $10,000 bonus based on commissions and service quotas met during the year that would be paid on January 1, 2020. Kris withdrew $120,000 at the end of the year. After some finagling by William, Viezuchter Co. faces an effective tax rate of 18%. William informed Kris that the company would need to estimate the potential defaults resulting from Viezuchter's credit sales and assessed the bad debt at $2,700 at year end. Additional notes for advanced transactions Investment accounting - recording fluctuations in value The available-for-sale securities had an unrealized net loss of $2,000 in value and the trading securities had an unrealized net gain of $4,500 in value, while its held-to-maturity securities had an unrealized net gain of $1,000. William advises these are adjusting entries that must be made in addition to the other adjustments. He also notes that the appropriate accounting treatment for unrealized gains and losses for trading and available-for-sale securities uses an adjunct account "Security Fair Value Adjustment" to mark the investments to their market value on the balance sheet. These adjusting journal entries are recorded as follows: 13121 rid laenunilable for sale 12/31 Unrealized loss - available-for-sale securities $2,000 Security Fair Value Adjustment - available-for-sale securities 2,000 Security Fair Value Adjustment - trading securities $4,500 Unrealized gain-trading securities 4,500 Finally, he counsels that the unrealized gains from the held-to-maturity securities are not recorded until sold but reminds you that 3% annual interest should be accrued on all debt securities whether they are classified as available-for-sale or held-to-maturity. Investment accounting -- closing unrealized gains and losses While unrealized gains on trading securities impact net income and flow through retained earnings, the unrealized losses recorded on available-for-sale securities bypass net income and are recorded as other comprehensive income. Consequently, these are not closed to retained earnings but to accumulated other comprehensive income as follows: 12/31 Accumulated Other Comprehensive Income Deferred Tax Asset Unrealized Holding Loss on Available for Sale $1,640 360 2,000 12/31 Accumulated Other Comprehensive Income Deferred Tax Asset Unrealized Holding Loss on Available for Sale $1,640 360 2,000 William notes that we must account for the impact that selling at a loss would have on our future income taxes. If we sold the securities at a $2,000 loss position, this would result ini tax savings of $360; hence, the deferred tax asset is recorded. Discontinued segment - restorations segment William knew the discontinued restoration division would require separate footnote presentation and prepared the following balance of assets and liabilities that pertained to that division: Cash Accounts receivable Garage supplies Equipment Accumulated depreciation Accounts payable Net value Book value $ 16,000 $ 2,000 $ 6,750 $ 15,000 $ (3,000) $ 6,750 $ 30,000 Fair value $ 16,000 $ 2,000 $ 6,750 $ 5,000 - $ $ 6,750 23,000 William also attributed 10% of all operating expenses to the discontinued division and suggested the following journal entry to recognize impairment of the discontinued division as suggested by the table above: 12/31 Impairment Loss $7,000 Accumulated Depreciation Equipment 3,000 Equipment 10,000 Assignment #2 Part 1: Prepare journal entries, adjusting entries and closing entries for the period 4/1 - 12/31 as well as the corresponding unadjusted, adjusted and post-closing trial balances as of 12/31. English (United States Viezuchter Company, April 1 - December 31 (Assume all purchases are made in cash unless otherwise stated) April 1" The company sold some outdated equipment. The old equipment had a historical cost of $10,000, accumulated depreciation of $500 and was sold for $9,300 cash. Viezuchter replaced the sold equipment with a $30,000 new machine and made repairs to some preexisting equipment for $10,000 to keep the equipment at full capacity. The new equipment has a useful life of 3 years and no estimated salvage. Kris and William reached a mutual decision to discontinue its flagging restorations segment of business, holding it for sale but continuing their restoration operations until the division was sold. In addition, they determined there was ample demand to begin merchandising available engine parts. Viezuchter paid off all of its existing accounts payable and purchased another $150,000 of supplies n credit, deciding that its increasing business warranted a bulk order. Viezuchter paid its employees the $1,000 owed from the prior quarter. The company paid its estimated taxes from the first quarter. Viezuchter established a prepaid contract with a local shipping company, agreeing to repairs its trucks over a period of one year for $150,000; cash was paid by the shipping company on April 1- the contract entitles the customer to unlimited repairs over the period. William suggests the company recognize revenue ratably over the year. William invested $75,000 in debt securities and $40,000 in equity securities. William suggested Viezuchter Co. hold $50,000 of the debt securities as held to maturity and the remaining $25,000 debt securities as available for sale (all debt securities had a maturity of 20 years and were issued at par, both issues have a 3% stated rate payable 3/31 of each year). The equity securities were all classified as trading securities. William correctly suggests the following journal entry for these securities: Trading Securities - Equity Securities 160,000 States) Trading Securities - Equity Securities Available for Sale Securities - Debt Securities Held-to-Maturity Securities - Debt Securities Cash 160,000 100,000 200,000 460,000 Merchandising purchase and sales log Viezuchter uses the specific identification method to assign the cost of merchandise sold. All'inventory purchases are made on credit and all sales are made in cash. Viezuchter uses the perpetual system of recording inventory transactions, recording cost of goods sold with each sale on the day the sale is made. Date 4/1 Transaction Purchase Sale Purchase Sale Sale Purchase Sale 6/20 Sale price N/A $31.000 N/A $45,000 $30,000 N/A $72,000 Cost $30,000 $22,000 $41.000 $27,000 $20,000 $50,000 $42,500 10/1 11/5 April 2" - December 31" (for simplicity date all transactions as of 12/31) United State April 2" - December 31" (for simplicity date all transactions as of 12/31) The company's invoices indicated the following repairs and restorations: Repairs to diesel engines $1,300,000 Restoring cars $32,500 70% of these services were paid in cash and 30% through customers paying on credit. $125,000 of supplies were used in rendering these services. Viezuchter paid its outstanding supply and inventory credit contracts for garage supplies leaving a $15,000 balance to be paid in 2020. Utilities expenses incurred during these months amounted to $85,000 and were paid on 12/31. Viezuchter collected $350,000 of its credit sales. Viezuchter paid its employees $300,000 for their services during 2019 and promised a $10,000 bonus based on commissions and service quotas met during the year that would be paid on January 1, 2020. Kris withdrew $120,000 at the end of the year. After some finagling by William, Viezuchter Co. faces an effective tax rate of 18%. William informed Kris that the company would need to estimate the potential defaults resulting from Viezuchter's credit sales and assessed the bad debt at $2,700 at year end. Additional notes for advanced transactions Investment accounting - recording fluctuations in value The available-for-sale securities had an unrealized net loss of $2,000 in value and the trading securities had an unrealized net gain of $4,500 in value, while its held-to-maturity securities had an unrealized net gain of $1,000. William advises these are adjusting entries that must be made in addition to the other adjustments. He also notes that the appropriate accounting treatment for unrealized gains and losses for trading and available-for-sale securities uses an adjunct account "Security Fair Value Adjustment" to mark the investments to their market value on the balance sheet. These adjusting journal entries are recorded as follows: 13121 rid laenunilable for sale 12/31 Unrealized loss - available-for-sale securities $2,000 Security Fair Value Adjustment - available-for-sale securities 2,000 Security Fair Value Adjustment - trading securities $4,500 Unrealized gain-trading securities 4,500 Finally, he counsels that the unrealized gains from the held-to-maturity securities are not recorded until sold but reminds you that 3% annual interest should be accrued on all debt securities whether they are classified as available-for-sale or held-to-maturity. Investment accounting -- closing unrealized gains and losses While unrealized gains on trading securities impact net income and flow through retained earnings, the unrealized losses recorded on available-for-sale securities bypass net income and are recorded as other comprehensive income. Consequently, these are not closed to retained earnings but to accumulated other comprehensive income as follows: 12/31 Accumulated Other Comprehensive Income Deferred Tax Asset Unrealized Holding Loss on Available for Sale $1,640 360 2,000 12/31 Accumulated Other Comprehensive Income Deferred Tax Asset Unrealized Holding Loss on Available for Sale $1,640 360 2,000 William notes that we must account for the impact that selling at a loss would have on our future income taxes. If we sold the securities at a $2,000 loss position, this would result ini tax savings of $360; hence, the deferred tax asset is recorded. Discontinued segment - restorations segment William knew the discontinued restoration division would require separate footnote presentation and prepared the following balance of assets and liabilities that pertained to that division: Cash Accounts receivable Garage supplies Equipment Accumulated depreciation Accounts payable Net value Book value $ 16,000 $ 2,000 $ 6,750 $ 15,000 $ (3,000) $ 6,750 $ 30,000 Fair value $ 16,000 $ 2,000 $ 6,750 $ 5,000 - $ $ 6,750 23,000 William also attributed 10% of all operating expenses to the discontinued division and suggested the following journal entry to recognize impairment of the discontinued division as suggested by the table above: 12/31 Impairment Loss $7,000 Accumulated Depreciation Equipment 3,000 Equipment 10,000 Assignment #2 Part 1: Prepare journal entries, adjusting entries and closing entries for the period 4/1 - 12/31 as well as the corresponding unadjusted, adjusted and post-closing trial balances as of 12/31. English (United States