This is one question with parts.. please provide complete details for this.. i need this urgently.. please double check your solution otherwise i will dislike your solution and report .

Question 1: (80 marks) The Goody Shop Ltd.'s unadjusted trial balance accounts and amounts (prior to recording any adjusting journal entries) appears as follows, in alphabetical order, on December 31, 2020, the end of its fiscal year: Dr Cr Accounts payable $26,000 Accounts receivable $130,000 Accumulated depreciation - Building $10,400 Administrative expenses $96,000 Allowance for doubtful accounts $1,200 Ask Accountant $350,000 Building $280,000 Cash $58,000 Common shares $20,000 Cost of goods sold (COGS) $550,000 Dividend income $200 Dividends $1,500 Equipment $75,000 Freight out $11,000 Freight payable $9,500 Goodwill $65,000 GST payable $5,000 Insurance expense $700 Interest expense $900 Interest income S500 Inventory $29,000 Investment in Bonds - TGS Ltd $10,445 Investment in RNG Ltd. $21,000 $80,000 Note payable $20,000 Property tax expense $5,500 Rent expense $6,000 Retained earnings $153,745 Salaries and benefits $100,000 Sales $940,000 Sales discounts $19,000 Telephone expense $2,500 Uncarned revenue $9,000 Utilities expense $4,000 Total S1,545,545 S1,545,545 Land Question 1, continued Additional notes: 1. The Land and Building was purchased January 1, 2019. The building had been estimated to have a useful life of 25 years and a residual value of $20,000. The company uses straight-line depreciation for the Building. 2. At January 1, 2020 there were 100,000 common shares outstanding with a total value of $20,000. 3. During the year cash dividends of $1,500 were paid. 4. The Equipment was purchased on April 1, 2020 and is estimated to have a useful life of six years and a residual value of $5,000. The company uses double diminishing balance depreciation method for the Equipment. 5. Ignore any income tax expense. 6. Please round all final amounts to a whole number. 7. Please add additional accounts as necessary. Required (parts a, b, c & d): a) Prepare any adjusting journal entries required from the items noted above and below to finalize the trial balance for The Goody Shop Ltd.'s for the December 31, 2020 year end. If there is no entry required state "no entry and if there is an entry required show any calculations and the journal entry. If you need additional space please use a separate piece of paper noting the transaction number. The following transactions occurred during the year: 1. On June 30th, 2020 the company sold its land and building. The proceeds on the sale was $398,000 cash. The bookkeeper didn't know how to record this, so he recorded it as Debit Cash $398,000, Credit Ask Accountant" $398,000. Scanned with CamScanner Cash $398,000, Credit "Ask Accountant" $398,000, Scanned with CamScanner Question 1. continued 2. On May 31", 2020 the company purchased a new piece of land and building in exchange for a $425,000, 20 year, 5% bank loan. The loan calls for annual payments of 521,250 plus interest. The fair market value (FMV), as assessed by a property inspector, was $500,000 in total with S350,000 assigned to the land and S150,000 assigned to the building. The building is estimated to have a useful life of 30 years and a residual value of $25,000. The company uses straight-tine depreciation for the Building. The bookkeeper didn't record anything for this transaction as the first bank loan payment plus interest isn't due until May 31, 2021 3. On August 19, 2020 the company reacquired and retired 40,000 common shares for $1.20 per share. The bookkeeper didn't know how to record this, so he recorded it as Debit Ask Accountant" $48,000. Credit Cash $48,000. Scanned with CamScanner Ouestion 1. continued 4 On November 14, 2020 the company declared a 5% stock dividend to common shareholders. The stock's market price was $1.40. November 15 was the date of record and November 30" was the date of payment. On November 15 the stock's market price was $1.45 and on November 30th the stock's market price was $1.55. The bookkeeper didn't record anything for this transaction. 5. On December 1, 2020 the company purchased a truck an account" from Bob's Auto and Insurance Co. Eight Corporation estimated the truck to have a useful life of 10 years and no residual value and plans to use the double diminishing balance depreciation method. The cost of the truck (a total of $71,880) included $65,000 for the truck, $2,000 to have the company logo painted on the truck, S100 for the annual license plate sticker, SS00 for a delivery fee (as they needed the truck delivered to their Fort McMurray location), S900 for the insurance for the first six (6) months of operation and GST of $3,380. Note: all these amounts are to be paid to the same company (Bob's Auto & Insurance Co.). The terms for payment are net 40. The truck was delivered on December 1st and was immediately put to use. The bookkeeper didn't record any journal entries for this transaction as it won't be paid until January 9th, 2021. Scanned with CamScanner Question 1, continued 6 The Goody Shop uses a perpetual inventory system. A physical inventory count determined that inventory on December 31, 2020 was $26,000. Question I continued 6. The Goody Shop uses a perpetual inventory system. A physical inventory count determined that inventory on December 31, 2020 was $26,000 7. The company reviewed the inventory for obsolesce and determined that the LCNRV of inventory was $24,000 on December 31, 2020. 8. It was determined that a customer owing S4,000 has gone bankrupt and will not be paying their outstanding accounts receivable balance 9. After noting #8, the credit manager reviewed the outstanding accounts receivable at December 31, 2020 and estimated that $12,000 of its year end accounts receivable balance would become uncollectible, 10. The company last paid its full-time salaried employees on Friday, December 18th and the next payroll will be paid on January 1", 2021. Employees eam 54,000 a week for a five- day (Monday to Friday) work week. Employees will have worked for nine (9) days before the year end that they have not been paid by year end. Scanned with CamScanner Question 1. continued 11. The note payable is due to be paid in full on January 1, 2022. It has an interest rate of 9% Interest is paid in cash semi-annually (January 1 and July 1). The interest was last paid on July 1, 2020 12. The Investment in RNG Ltd. is a held for trading investment (FVTPL) that had a fair value of $20,300 at December 31, 2020. 13. The Investment in Bonds - TGS Lid. is a $10,000 bond, paying annual interest of 5% that is due December 31, 2025 and is accounted for using the amortized cost method. The hond was purchased when the market interest rates 4%. Interest was last received on December 31, 2020. 14. The goodwill arose from the purchase of a company a number of years ago. The goodwill was tested for impairment at December 31, 2020 and it was determined it was valued at $79,000