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Show me the steps to solve steps 4 - 1 0 . I have attached the check figures which each step needs to equal those.
Show me the steps to solve steps I have attached the check figures which each step needs to equal those.
CHECK FIGURES:
Unadjusted Trial Balance Debit & Credit Totals $
Adjusted Trial Balance Debit & Credit Totals $
Net Income $
Retained Earnings $
Total Assets $
Total Liabilities $
Total Stockholders' Equity $
PostClosing Trial Balance Debit & Credit Totals $
Requirements:
Record all necessary journal entries for the transactions. Note: Not all transactions in
December require a journal entry. If no entry is required, you may choose to simply omit the
transaction, or you may choose to record the date of the transaction and write NO ENTRY" in the
space where the accounts & amounts would normally be written.
Post the journal entries to the TAccounts.
Prepare an Unadjusted Trial Balance as of December
Record the adjusting entries as of December Additional information necessary for
adjusting entries is below:
a The Note Payable on December has an interest rate of Interest and principle are
due in years. Note: assume a full month of interest for November, even though the loan
originated on November as opposed to November
b The prepaid insurance policy began on December
c Supplies on hand on December were $
d Of the singleuse presale tickets sold on November $ have been redeemed by
customers for theme park admissions in December.
e The season tickets sold on November are for theme park admissions from
December through December Note: Round your calculations to the
nearest whole dollar.
f The months of billboard advertisements began on December and will end on
May Note: Round your calculations to the nearest whole dollar.
g Accrued salaries of $ for the last two weeks in December will be paid in January.
Post the adjusting entries to the TAccounts. Note: You will be adding to the Taccounts you created
in Step
Prepare an Adjusted Trial Balance as of December
Prepare the income statement and statement of stockholders' equity for the year ended December
Prepare the classified balance sheet as of December
Record the closing entries as of December
Post the closing entries to the TAccounts. Note: You will be adding to the Taccounts you created in
Step and updated in Step
Prepare a PostClosing Trial Balance as of December The following transactions occurred during Walley World's first year of operations:
Nov Issued $ of common stock for cash.
Nov Paid $ to the property manager, Jim Halpert, for November Rent.
Nov Purchased $ of roller coaster equipment by signing a note, agreeing to repay principal
and interest in years. The equipment was purchased from Christopher Farleigh, who lives in a
van down by the river.
Nov Paid $ in advance for a oneyear general liability insurance policy from Ned Ryerson
Insurance Group.
Nov Hired theme park managers, Clark Griswold and Van Wilder, who will start working on
December Surprisingly, both managers passed their drug tests and background checks.
Nov Purchased $ of supplies from Dunder Mifflin Office Supply Store on account.
Nov Sold $ of singleuse presale tickets for cash to be used within one year of the theme
park's grand opening
Nov Paid $ to Frankenstein Electric Company for November utilities.
Nov Sold $ in annual season tickets for cash valid for unlimited access to the theme park
Dec Prepaid $ for billboard advertisements for months.
Dec Paid employee salaries totaling $ for the current month.
Dec Received a bill for $ from Frankenstein Electric Company for December utilities, which
will be paid on the due date, January
Dec Paid $ to the property manager, Jim Halpert, for December and January Rent.
Dec Received $ for onsite theme park admission sales in December.
Dec Paid cash dividends of $ to stockholders.
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