solve the second part for income step 8 through 11.

please solve from step 8 only.

This is the solution from step 1 through 7. Take this reference for solving step 8 through 11.

HE Step 8 Prepare the income Statement, Statement of Stockholder's Equity and Clasulied Balance Sheet on the Financial Statements tab for the month ended December 31, 20XX Provide the following amount from the Income Statement: (Be sure to enter all numbers as positive and no answer should be left blank.) 15 Service Revenue 16 Depreciation Expense 17 Salaries Expense 18 Supplies Expense 19 Rent Expense 20 Insurance Expense 21 Net Income Provide the following account balances from the Balance Sheet: (Be sure to enter all numbers as positive and no answer should be left blank.) 22 23 Current Assets Long-Term Assets Current Liabilities 24 20 21 Insurance Expense Net Income Provide the following account balances from the Balance Sheet: (Be sure to enter all numbers as positive and no answer should be left blank.) 22 Current Assets 23 Long-Term Assets 24 Current Liabilities 25 Long-Term Liabilites 26 Total Liabilities 27 Total Stockholder's Equity Provide the following account balance from the Statement of stockholders' Equity: (Be sure to enter all numbers as positive and no answer should be left blank.) 26 Dividends Record the closing entries on the General Joumar tab. Post all of the closing entries to the T-accounts on the T-Accounts" tab. Compute the balance for each T-account after all of the closing entries have been posted Prepare the post closing trial balance for the month ended December 31, 20XX on the Post-Closing Trial Balance tab 29 Provide the total of the debit column from the Post Closing Trial Balance Provide the balance of the Retained Earnings Taccount after closing entrion have been posted Step 9 Step 10 Step 11 30 Check Point 2. Total Assets $ 25,080 Step 1: Prepare foumal entries to record the December transactions in the General Journal Tob in the excel template file "Accounting Cycle Excel Template". Use the folowing accounts as appropriate: Cash Accounts Receivable Supplies Prepaid Insurance Equipment Land Accumulated Depreciation Accounts Payable Deferred Revenue Salaries Payable Notes Payable Common Stock Retained Earnings Dividends Service Ravenue Depreciation Expense Salaries Expense Supplies Expense Rent Expense Insurance Expense 1-Dec 1-Dec 1-Dec 5-Dec 15-Dec 16-Dec 17-Dec 22 Dec 23-Dec Issue common stock in exchange for cash of $7,000, Paid the premium in advance on a one-year insurance policy, 5960 Purchased Equipment for $3,600 cash Purchased office supplies from XYZ Company on account, $400 Provided services to customers for $7,800 cash Provided services to customer ABC Inc, on account, $6,100 Received $2,000 cash in advance from a customer for services to be provided in January Paid $220 to XYZ company for the Dec 5 purchase on account Received $2,700 cash from customer, ABC Inc. on account Paid the rent for the current month $1,100 Paid salaries to employees for work performed from December 1 through December 28, 54,200 Declared and paid dividends to stockholders $250 Purchased and by signing 3 year note payable for 38,000 25-Dec 28-Dec 29-Dec 30-Dec Step 2 Post all of the December transactions from the General Joumar" tab to the accounts under the Accounts tab in the excel template fle *Accounting Cycle Excel Templatexsx". Assume there are no beginning balances in any of the accounts Step 3: Step 4: Compute the balance for each T-account after all of the entries have been posted Prepare the unadjusted trial balance on the Unadjusted Trial Balance" tab. Provide the total of the credit column from the Unadjusted Trial Balance Record the December adjusting entries on the General Joumal tab. 31080 Step 5 31-Dec 31 Dec One month's insurance has expired $80 The remaining inventory of unused office supplies is $90. The estimated depreciation on equipment is 560, Salaries incurred from December 29 to December 31 but not yet paid of recorded total $450 31-Dec 31-Dec Step 6 Post all of the adjusting entries to the accounts on the Accounts tab Compute the balance for each Taccount after all of the adjusting entries have been posted Step 7 Prepare the adjusted trial balance on the "Adjusted Trial Balance" tab. $ 35,590 Check point Adjusted trial balance total debit credit Red of the adjusting Step 7 Prepare the adjusted trial balance on the 'Adjusted Tralalance ab Checkpoint Adjusted trial balance total debit/credit $ 31,590 Provide the following amounts from the Adjusted Trial Balance: (Be sure to enter all numbers as positive and no answer should be left blank) 2 Cash 9170 3 Accounts Receivable 3400 4 Supplies 90 5 Prepaid Insurance 880 6 Equipment 3600 7 Land 8000 B Accumulated Depreciation 60 3 Accounts Payable 180 10 Deferred Revenue 2000 Salaries Payable 450 12 Notes Payable 8000 13 Common Stock 14 Retained Earnings 0 Prepare the income Statement, Statement of Stockholders Equity and Classified Balance Sheet on the Financial Statements' tab for the month ended December 31, 20XX 7000 Step 8 12:04 Answer 1 of 1 Done Decem econdo Recorder w dhe Dec www. De Decan 1 drum 10 De 13 cos Dec 1 52.00 De the. 12:04 .nl Answer 1 of 1 Done De 100 2. De Dec 10 De D. he DS ht DO Ae Ca A 11 S IS an A Deterre Pole co Remem 3 Rent L. 1 1 A Date De econd Decapolis 12:04 Answer 1 of 1 Done Deep 5 . der 1 Design heart MTB Dhe Dee. DS Die BEST Set Boss S4300 DS 12:04 Answer 1 of 1 Done 4200 200 30 be Ders 30 LORES ces Dhe Aconte Car 1 Ale Dada we Tetesi | ser De w 1100 General Journal Dute Actors Title Decca Common Stock Record sunce of common stock 7,600 $ 7.300 Dec 1 Pepede 5 900 $ 960 Record payment of advance premium $ 1.600 Decement Cash Record purchase of equipment $ 1600 $ 400 $ 400 $ 7,600 $ 7.00 Dec supplies Accounts Payable record purchase of office supplies Dec scos Service Revenue Record service provided in a Dec-16 Accounts Receivable Service Revenue Mecord service provided on account Dec 17 Cash Deferred Revenue Mecord advances from customer 100 $ 100 $ 2.000 5 2000 $ $ 220 2.700 Dec 22 Accounts Payable Cash Record cash payment on account Dec 23 Cash Accounts Receivable Record cash collection on account Decent pense Cash Record cash paid for resten $ 2.700 $ 1.100 5 1.100 $ 4.200 Dec 25 salaries Expense Cash Record sales pard to employees 5 4.200 Decidende $ $ 250 ecord payment of cash dividend $ . Decond Notes Payable Record and purchased by signing note $ 3.000 Taccounts Able Dec 157.000 Dec 360 Dec 10 $ 100 Dec 233 2.200 Dec 17.00 Dec-1 S 2.000 Dec 17 5 2.000 Dec 235 230 Dec $ 2.0 Dec-25 1.100 Dec 200 Dec 250 Dec 0110 Dec-1 1.400 polles 100 Dec-os Deco 90 MEUS De 10 $100 Dec 2.200 T- Cash Deco $ 7.000 Decos 60 Dec 7.000 Dec- OS 1,000 Dec-12 2.000 Dec 221 220 Dec 235 2.200 Des 1.100 Dec $4.300 Deals 230 Dec 4,120 Dec 31 $ 1.400 Supplies Decas Deces 960 Dec 3150 q Decon 1000 Dec 30 SL.000 Dec 3.000 Deferred Arun Payable Dec-25220 Deces 400 Dec 12.000 Decals 100 Det $ 2.000 Parten C Deco 3.000 Dec 57.000 Dec 18 57.000 Dec 10 Divide Dec 233 290 Dec 23 300 Decas 100 Dec-115710 Dec 1511,000 Sales Dec 23200 et peu Dec 1.300 Dec 31 $ 4200 Dec 31 5 1.100 unalutra Trial alume December Account the Cash Accounts Receivable Supplies Prepaid Insurance Equipment Land Accounts Payable Deferred Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenge Salaries Expense Rent pense Total Debit Credit 5 3.10 $ LA $ 400 $ 960 1600 $ 8.000 5 20 $ 2,000 $ 8,000 $ 7 000 $ $ 250 $ 21.00 $ 4.200 $ 100 S 31.080 11.00 Adjusting Entries Debit Credit $ 30 $ 80 Adjusting Entries Date Accounts Title Dec-31 Insurance Expense Prepaid Insurance (Record one month insurance expired) Dec 31 Supplies Expense Supplies (Record supplies used during the month) $ 310 $ 310 $ Dec-31 Depreciation Expense Accumulated Depreciation (Record purchase of equipment) 60 $ 60 $ 450 Dec-31 Salaries Expense Salaries Payable (Record accrued salaries for the month) $ 450 Credit $ $ $ $ $ $ Debit 9,170 3,400 400 960 3,600 8,000 Unadjusted Trial Balance At December 31 Account Title Cash Accounts Receivable Supplies Prepaid Insurance Equipment Land Accounts Payable Deferred Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Totals $ $ $ $ 180 2,000 8,000 7,000 w $ 13,900 $ 250 $ 4,200 1.100 31,080$ us $ 31,080 Credit Adjusting Entries Date Accounts Title Dec-31 Insurance Expense Prepaid Insurance (Record one month insurance expired) Debit 80 $ $ 80 Posting of Adjusting entries to accounts Cath Amanece Dec 31 $9,170 Dec 1400 Dec 31 $ 9.1.70 Dec 31 $ 1.400 DRC-315400 De 13 310 Prepaid Dec-20900 Dec 30 S Dec 31 3 Dec 315 Equipment Dec 31 5 3.600 Dec 33 33.000 De 5.000 Dec 18.000 Amated Deprecat Dec 315 Decs Decals 100 Dec-15 60 Dec 15 10 Deferre Dec 1 s 2.000 Salatles Payale Dec 30 Dec 39 S 150 De 2.000 Dec 150 Notes Payable Decal $3,000 Como tode Dec 30 S 7.000 Dec 11 5,000 Dec 13 5 7,000 Betained Earning Dec 31 Dividende 250 Dec-395 Deos Dec 17 Service Dereciation Expe Dec.33 $13.500 Dec Dec-11 S 13.900 Dec 15 60 Salaries Expense Dec 31 5 4.200 Dec-21 5 450 Soppliestapen Dec 3310 Dec 0440 Dees 110 Best Expense Dec 31 3 1,300 Dec-335 Dec 31 1,100 Dec s Notes Payable Dec s 1.000 Coro Dec 7,000 Dec 2015 450 Des-33 $ 4,50 Dec- 110 Rent Depene Dec3 1.100 Dec 11 Dec-305 1.100 Dec-15 Notes Paule DRC-132.000 Commental Dec 10 3 7.000 Dec 31 58.000 Dec 1700 Bindamine Dec-15- Dec-32 $250 Dec 315 Dec 315 250 Servis Avenue Dec 30 $ 11,400 Depreciation Dec 31s 60 Dec-11.000 Dec 15 Salaries per Dec 31 $ 4,200 Deos 150 Supplies Expert Dec.31 $350 Dec-334,450 Dec-1530 Intense Rent Espen Dec 335 1.100 Dec Dec 15 1,100 Dec 13 Credit $ $ $ 5 $ $ Adjusted Trial Balance M December 11 Account Title Cash Accounts Receivable Supplies Prepaid insurance Equipment Land Accumulated Depreciation Accounts Payable Deferred Revenue Salaries Payable Notes Payable Common Stock Retained Earnings Dividende Service Revenue Depreciation Expense Salaries Expanse Supplies Expense Rent Expense Insurance Expense Totale 60 30 2.000 450 Det 9.10 3.400 NO 880 3.600 8.000 5 5 $ $ $ s 5 250 5 60 4650 330 1900 BO 11.15 3.000 7,000 S $ $ $ $ $ 5 19.00 Credit General Journal Date Accounts Title Dec-01 Cash Common Stock (Record issuance of common stock) Debit 7,000 $ $ 7,000 $ 960 Dec-01 Prepaid Insurance Cash (Record payment of advance premium) $ 960 $ 3,600 Dec-01 Equipment Cash (Record purchase of equipment) $ 3,600 $ $ 400 Dec-05 Supplies Accounts Payable (Record purchase of office supplies) $ $ 400 $ 7,800 Dec-15 Cash Service Revenue (Record service provided in cash) $ 7,800 $ 6,100 Dec-16 Accounts Receivable Service Revenue (Record service provided on account) $ 6,100 $ 2,000 Dec-17 Cash Deferred Revenue (Record advances from customer) $ 2,000 $ 2,000 Dec-17 Cash Deferred Revenue (Record advances from customer) $ 2,000 $ 220 Dec-22 Accounts Payable Cash (Record cash payment on account) $ 220 $ 2,700 Dec-23 Cash Accounts Receivable (Record cash collection on account) $ 2,700 $ 1,100 Dec-25 Rent Expense Cash (Record cash paid for rent exfense) $ 1,100 $ 4,200 Dec-28 Salaries Expense Cash (Record salaries paid to employees) $ 4,200 $ 250 Dec-29 Dividends Cash (Record payment of cash dividend) $ 250 $ 8,000 Dec-30 Land Notes Payable (Record land purchased by signing note) $ 8,000 T-accounts Cash Accounts Receivable Dec-01 $ 7,000 Dec-01 $ 960 Dec-16 $ 6,100 Dec-23 $ 2,700 Dec-15 $ 7,800 Dec-01 $ 3,600 Dec-17 $ 2,000 Dec-22 $ 220 Dec-23 $ 2,700 Dec-25 $ 1,100 Dec-28 $ 4,200 Dec-29 $ 250 Dec-31 $ 9,170 Dec-31 $ 3,400 Supplies 400 Dec-05 $ Prepaid Insurance Dec-01 S 960 Dec-31 $ 400 Dec-31 $ 960 Equipment Dec-01 $ 3,600 Land Dec-30 $ 8,000 Dec-31 $ 3,600 Dec-31 $ 8,000 Accounts Payable Dec-22 $ 220 Dec-05 $ Deferred Revenue Dec-17 $ 2,000 400 Dec-31 $ 180 Dec-31 $ 2,000 Notes Payable Dec-30 $ 8,000 Common Stock Dec-01 $ 7,000 Dec-31 $ 8,000 Dec-31 $ 7,000 Dividends Dec-29 $ 250 Service Revenue Dec-15 $ 7,800 Dec-16 $ 6,100 Dec-31 $ 250 Dec-31 $ 13,900 Salaries Expense Dec-28 $ 4,200 Rent Expense Dec-25 $ 1,100 Dec-31 $ 4,200 Dec-31 $ 1,100 Debit Credit 9,170 3,400 400 Unadjusted Trial Balance At December 31 Account Title Cash Accounts Receivable Supplies Prepaid Insurance Equipment Land Accounts Payable Deferred Revenue Notes Payable Common Stock $ $ $ $ $ $ 960 3,600 8,000 180 $ S 2.000 S 8,000 UCL JA -, UCU 1 Debit Credit 9,170 3,400 $ $ $ $ 400 960 $ $ 3,600 8,000 Unadjusted Trial Balance At December 31 Account Title Cash Accounts Receivable Supplies Prepaid Insurance Equipment Land Accounts Payable Deferred Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Totals $ $ $ $ $ $ 180 2,000 8,000 7,000 $ 250 13,900 $ $ 4,200 1,100 31,080$ $ $ 31,080 Debit Credit $ Adjusting Entries Date Accounts Title Dec-31 Insurance Expense Prepaid Insurance (Record one month insurance expired) $ 80 $ 80 $ 310 Dec-31 Supplies Expense Supplies (Record supplies used during the month) $ $ 310 $ $ 60 Dec-31 Depreciation Expense Accumulated Depreciation (Record purchase of equipment) $ 60 $ 450 Dec-31 Salaries Expense Salaries Payable (Record accrued salaries for the month) $ 450 Posting of Adjusting entries to T-accounts Cash Accounts Receivable Dec-31 $ 9,170 Dec-31 $ 3,400 Dec-31 $ 9,170 Dec-31 $ 3,400 Dec-31 $ Supplies 400 Dec-31 $ Prepaid Insurance Dec-31 $ 960 Dec-31 $ 310 80 Dec-31 $ 90 Dec-31 $ 880 Equipment Dec-31 $ 3,600 Land Dec-31 $ 8,000 Dec-31 $ 3,600 Dec-31 $ 8,000 Accumulated Depreciation Dec-31 $ Dec-31 $ Accounts Payable Dec-31 $ 180 60 Dec-31 $ 60 Dec-31 $ 180 Deferred Revenue Dec-31 $ 2,000 Salaries Payable Dec-31 S Dec-31 S 450 Dec-31 $ 2,000 Dec-31 $ 450 Notes Payable Dec-31 $ 8,000 Common Stock Dec-31 $ 7,000 Dec-31 $ 8,000 Dec-31 $ 7,000 Retained Earnings Dec-31 $ Dividends 250 Dec-31 $ Dec-31 $ Dec-31 $ 250 Service Revenue Dec-31 $ 13,900 Depreciation Expense Dec-31 $ 60 Dec-31 $ 13,900 Dec-31 $ 60 Salaries Expense Dec-31 $ 4,200 Dec-31 $ 450 Supplies Expense Dec-31 $ 310 Dec-31 $ 4,650 Dec-31 $ 310 Rent Expense Dec-31 $ 1,100 Insurance Expense Dec-31 s 80 Dec-31 $ 1,100 Dec-31 $ 80 Notes Payable Dec-31 $ 8,000 Common Stock Dec-31 $ 7,000 Dec-31 $ 8,000 Dec-31 $ 7,000 Dividends Retained Earnings Dec-31 $ Dec-31 $ 250 Dec-31 $ Dec-31 $ 250 Service Revenue Dec-31 $ 13,900 Depreciation Expense Dec-31 $ 60 Dec-31 $ 13,900 Dec-31 $ 60 Salaries Expense Dec-31 $ 4,200 Dec-31 S 450 Supplies Expense Dec 31 $ 310 Dec 31 $ 4,650 Dec 31 $ 310 Rent Expense Dec-31 $ 1,100 Insurance Expense Dec-31 $ 80 Dec 31 $ 1,100 Dec 31 $ 80 Credit $ $ Adjusted Trial Balance At December 31 Account Title Cash Accounts Receivable Supplies Prepaid Insurance Equipment Land Accumulated Depreciation Accounts Payable Deferred Revenue Salaries Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Depreciation Expense Salaries Expense Supplies Expense Rent Expense Insurance Expense Totals Debit $ 9,170 $ 3,400 $ 90 $ 880 $ 3,600 $ 8,000 $ $ $ $ $ $ $ $ 250 $ $ 60 $ 4,650 $ 310 $ 1,100 $ 80 $ 31,590 $ 60 180 2,000 450 8,000 7,000 $ 13,900 31,590