These are all connected for one thing. I believe I did the journal entries right, but the ledger and trail balance seem to be wrong. For the ledger, the highlighted yellow is what I calculated for the final ending balance for the account. I added all the numbers to each account from the beginning journal entries. 1. Journal Entries:

2. Ledger:

3. Trail Balance:

4. Find the Adjusting entries:

5. Create an Adjusted trial Balance

3/21/2021 Collected $1,358,034,000 in rent revenue. 3/23/2021 Paid $2,564,647,000 in dividends. 3/24/2021 Purchased new equipment for $5,500,037,000. Paid in cash. 3/28/2021 Property manager stole $2,037,051,000 of company funds. 3/30/2021 Paid $509,263,000 utility bill. Journal Entries date accounts 3/21/2021 Cash accounts receivable debit credit 1,358,034,000 1,358,034,00 3/23/2021 Dividends Cash 2,564,647,000 2,564,647,00 5,500,037,000 3/24/2021 Equipment Cash 5,500,037,00 3/28/2021 No Journal Entry 3/30/2021 Utilities Expense Cash 509,263,000 509,263,00 Cash Land Equipment $6,078,559,199 $38,092,847,529 Accumulated Depreciation ######### $1,792,604,590 $6,790,168,900 $4,997,564,310 $12,222,304,020 $4,074,101,340 $16,296,405,360 $509,262,668 $1,045,686,010 $4,481,511,474 $5,500,037,000 $39,111,373,055 $3,259,281,072 $1,823,567,760 $509,262,668 Accounts Receivable ### ### $271,606,756 $814,820,268 $2,172,854,048 $380,249,458 $2,444,460,804 $3,259,281,072 $1,140,748,375 $1,086,427,024 $325,928,107 $162,964,054 $1,358,034,000 $814,820,0481 $325,928,107 $7,294,271,039 $509,262,668 $10,780,072,146 $509,262,668 $3,647,135,520 $509,262,668 $2,431,423,680 $509,262,668 $3,055,576,005 $509,262,668 $16,103,564,554 $8,694,132,246 Loan Payable ######### Taxes Payable ######### $10,780,072,146 $8,983,393,455 $2,716,067,560 Notes Payable ######### $48,907,956,964 $48,907,956,964 Accounts Payable ######### $1,045,686,010 $2,091,372,020 $5,228,430,050 $23,005,092,220 $16,103,564,554 $8,694,132,246 $4,481,511,480 ########## ########### $509,262,668 $814,820,268 Interest Payable $2,037,050,670 $509,262,668 $1,018,525,335 $0 $0 $4,254,991,440 $509,262,668 $6,686,415,119 Common stock ## Additional Paid-In capital #### Retained Earnings #### $509,262,668 $4,862,847,359 Dividends $0 ########## $2,564,647,000 $2,564,647,000 $509,262,662 $1,527,788,003 $7,902,126,959 $2,546,313,337 $5,470,703,279 $3,666,691,206 $5,500,036,809 $3,951,063,480 $9,725,694,719 Advertising Expense $0 $1,527,788,003 $3,055,576,005 $2,037,050,670 $1,018,525,335 $2,546,313,337 $10,185,253,350 Sales Force Salaries Expense $0 $3,666,691,206 $5,500,036,809 $3,055,576,005 $12,222,304,020 Depreciation Expense $0 $6,790,168,900 $6,790,168,900 $3,055,576,005 $162,964,054 $6,083,991,334 Net Revenue $0 $1,358,033,780 $2,716,067,560 $6,790,168,900 $14,938,371,580 $3,395,084,450 $679,016,890 $4,074,101,340 $20,302,605,011 $10,864,270,240 $339,508,445 $475,311,823 $1,969,148,981 $67,901,689,000 $1.996,309,657 $719,757,903 $1,358,034,000 $2,564,647,000 $5,500,037,000 $2,037,051,000 $5,591,976,180 Property Tax Expense $0 $o Interest Expense $o $1,996,309,657 $719,757,903 $2,716,067,560 Income Tax Expense $o $8,983,393,455 $8,983,393,455 Gain on Sale of Equipment $o ########### ########### Utilities Expense $o $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,662 $509,262,662 ########## Other Losses $o So credit Rosewood Trial Balance For Year Ended March 31, 2021 account debit cash $5,591,976,180 accounts recievable $814,820,048 land $16,296,405,360 equipment $39,111,373,055 accumulated depreciation accounts payable taxes payable notes payable dividends $2,564,647,000 net revenue advertising expense $10,185,253,350 salaries expense $12,222,304,020 depreciation expense $6,790,168,900 utilities expense $6,620,414,672 interest expense $2,716,067,560 income tax expense $8,983,393,455 gain on sale of equipment $4,997,564,310 $4,481,511,480 $2,716,067,560 $48,907,956,964 $67,901,689,000 $3,395,084,450 Total $111,896,823,600 $132,399,873,764 Adjusting Entry Information No depreciation has been recorded on the company's Land or new PPE. Rosewood's accounting staff believes that the Land has a useful life of 30 years with a $7,333,382,412 salvage value. They also believe that the new PPE has a remaining useful life of 18 years with a $1,142,785,426 salvage value. When calculating depreciation, keep in mind that Rosewood does not use partial year depreciation. They record a full year of depreciation, regardless of when an asset was purchased. HINT: New PPE is the amount added this year, and is shown as the debit below the beginning balance of the Equipment account! Rosewood recorded and paid interest on all of their outstanding notes 2 months ago. Payments are due on the notes every 6 months, and the interest rate on both notes is 4-5% (they were issued by the same bank with the same terms, just 2 years apart). Unlike the federal government, the state where Rosewood does business charges property taxes instead of an income tax. These taxes are charged on an assessed market value assigned by the government for tax purposes; the assessed value does not match what Rosewood actually paid for the assets. In fact, the assessed value comes out to 51% of the book value (historical costs - accumulated deprecation, if any) of the company's land owned at the end of the fiscal year. The property tax rate for 2021 is 5%. The taxes will be paid when they are due on May 1, 2021. 3/21/2021 Collected $1,358,034,000 in rent revenue. 3/23/2021 Paid $2,564,647,000 in dividends. 3/24/2021 Purchased new equipment for $5,500,037,000. Paid in cash. 3/28/2021 Property manager stole $2,037,051,000 of company funds. 3/30/2021 Paid $509,263,000 utility bill. Journal Entries date accounts 3/21/2021 Cash accounts receivable debit credit 1,358,034,000 1,358,034,00 3/23/2021 Dividends Cash 2,564,647,000 2,564,647,00 5,500,037,000 3/24/2021 Equipment Cash 5,500,037,00 3/28/2021 No Journal Entry 3/30/2021 Utilities Expense Cash 509,263,000 509,263,00 Cash Land Equipment $6,078,559,199 $38,092,847,529 Accumulated Depreciation ######### $1,792,604,590 $6,790,168,900 $4,997,564,310 $12,222,304,020 $4,074,101,340 $16,296,405,360 $509,262,668 $1,045,686,010 $4,481,511,474 $5,500,037,000 $39,111,373,055 $3,259,281,072 $1,823,567,760 $509,262,668 Accounts Receivable ### ### $271,606,756 $814,820,268 $2,172,854,048 $380,249,458 $2,444,460,804 $3,259,281,072 $1,140,748,375 $1,086,427,024 $325,928,107 $162,964,054 $1,358,034,000 $814,820,0481 $325,928,107 $7,294,271,039 $509,262,668 $10,780,072,146 $509,262,668 $3,647,135,520 $509,262,668 $2,431,423,680 $509,262,668 $3,055,576,005 $509,262,668 $16,103,564,554 $8,694,132,246 Loan Payable ######### Taxes Payable ######### $10,780,072,146 $8,983,393,455 $2,716,067,560 Notes Payable ######### $48,907,956,964 $48,907,956,964 Accounts Payable ######### $1,045,686,010 $2,091,372,020 $5,228,430,050 $23,005,092,220 $16,103,564,554 $8,694,132,246 $4,481,511,480 ########## ########### $509,262,668 $814,820,268 Interest Payable $2,037,050,670 $509,262,668 $1,018,525,335 $0 $0 $4,254,991,440 $509,262,668 $6,686,415,119 Common stock ## Additional Paid-In capital #### Retained Earnings #### $509,262,668 $4,862,847,359 Dividends $0 ########## $2,564,647,000 $2,564,647,000 $509,262,662 $1,527,788,003 $7,902,126,959 $2,546,313,337 $5,470,703,279 $3,666,691,206 $5,500,036,809 $3,951,063,480 $9,725,694,719 Advertising Expense $0 $1,527,788,003 $3,055,576,005 $2,037,050,670 $1,018,525,335 $2,546,313,337 $10,185,253,350 Sales Force Salaries Expense $0 $3,666,691,206 $5,500,036,809 $3,055,576,005 $12,222,304,020 Depreciation Expense $0 $6,790,168,900 $6,790,168,900 $3,055,576,005 $162,964,054 $6,083,991,334 Net Revenue $0 $1,358,033,780 $2,716,067,560 $6,790,168,900 $14,938,371,580 $3,395,084,450 $679,016,890 $4,074,101,340 $20,302,605,011 $10,864,270,240 $339,508,445 $475,311,823 $1,969,148,981 $67,901,689,000 $1.996,309,657 $719,757,903 $1,358,034,000 $2,564,647,000 $5,500,037,000 $2,037,051,000 $5,591,976,180 Property Tax Expense $0 $o Interest Expense $o $1,996,309,657 $719,757,903 $2,716,067,560 Income Tax Expense $o $8,983,393,455 $8,983,393,455 Gain on Sale of Equipment $o ########### ########### Utilities Expense $o $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,668 $509,262,662 $509,262,662 ########## Other Losses $o So credit Rosewood Trial Balance For Year Ended March 31, 2021 account debit cash $5,591,976,180 accounts recievable $814,820,048 land $16,296,405,360 equipment $39,111,373,055 accumulated depreciation accounts payable taxes payable notes payable dividends $2,564,647,000 net revenue advertising expense $10,185,253,350 salaries expense $12,222,304,020 depreciation expense $6,790,168,900 utilities expense $6,620,414,672 interest expense $2,716,067,560 income tax expense $8,983,393,455 gain on sale of equipment $4,997,564,310 $4,481,511,480 $2,716,067,560 $48,907,956,964 $67,901,689,000 $3,395,084,450 Total $111,896,823,600 $132,399,873,764 Adjusting Entry Information No depreciation has been recorded on the company's Land or new PPE. Rosewood's accounting staff believes that the Land has a useful life of 30 years with a $7,333,382,412 salvage value. They also believe that the new PPE has a remaining useful life of 18 years with a $1,142,785,426 salvage value. When calculating depreciation, keep in mind that Rosewood does not use partial year depreciation. They record a full year of depreciation, regardless of when an asset was purchased. HINT: New PPE is the amount added this year, and is shown as the debit below the beginning balance of the Equipment account! Rosewood recorded and paid interest on all of their outstanding notes 2 months ago. Payments are due on the notes every 6 months, and the interest rate on both notes is 4-5% (they were issued by the same bank with the same terms, just 2 years apart). Unlike the federal government, the state where Rosewood does business charges property taxes instead of an income tax. These taxes are charged on an assessed market value assigned by the government for tax purposes; the assessed value does not match what Rosewood actually paid for the assets. In fact, the assessed value comes out to 51% of the book value (historical costs - accumulated deprecation, if any) of the company's land owned at the end of the fiscal year. The property tax rate for 2021 is 5%. The taxes will be paid when they are due on May 1, 2021