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Oriole SA$$s statement of financial position at December $31,2024,$ is presented as follows.

ORIOLE SA

Statement of Financial Position

December $31,2024$

Land $42,800$ Share capital$$ordinary $(1$ par$)56,000$

Buildings $132,000$ Retained earnings $145,300$

Accumulated depreciation$$buildings $(22,800)$ Accounts payable $25,300$

Supplies $4,600226,600$

Accounts receivable $45,900$

Allowance for doubtful accounts $(1,600)$

Cash $25,700$

$226,600$

During $2025,$ the following transactions occurred.

$1.$ On January $1,2025,$ Oriole issued $1,50020$ par, $6\%$ preference shares for $33,500.$

$2.$ On January $1,2025,$ Oriole also issued $8001$ par value ordinary shares for $7,300.$

$3.$ Oriole performed services for $276,000$ on account.

Question $1$ of $711\mathrm{.}93/15$

$($a$)$

$5.$ Oriole collected $267,900$ from customers on account.

$6.$ Oriole bought $27,900$ of supplies on account.

$7.$ Oriole paid $32,100$ on accounts payable.

$8.$ Oriole reacquired $400$ ordinary shares on June $1,2025,$ for $8$ per share.

$9.$ Paid other operating expenses of $188,900.$

$10.$ On December $31,2025,$ Oriole declared the annual preference share dividend and a $0\mathrm{.}50$ per share dividend on the

outstanding ordinary shares, all payable on January $15,2026.$

$11.$ An account receivable of $1,200$ which originated in $2024$ is written off as uncollectible.

Adjustment data:

$1.$ A count of supplies indicates that $5,900$ of supplies remain unused at year$-$end.

$2.$ Recorded revenue recognized from item $4$ above.

$3.$ The allowance for doubtful accounts should have a balance of $3,800$ at year$-$end.

$4.$ Depreciation is recorded on the building on a straight$-$line basis based on a $30-$year life and a residual value of $10,500.$

Your Answer Correct Answer $($Used$)$

$$ Your answer is partially correct.

Prepare journal entries for the transactions listed above and adjusting entries. $($Credit account titles are automatically indented when

the amount is entered. Do not indent manually. If no entry isrequired,select $"$No Entry" for the account titles and enter $0$ for the amounts.

Question $1$ of $711\mathrm{.}93/15$

No$.$ Account Titles and Explanation Debit Credit

$1.$ Cash

Share Capital$-$Preference

Share Premium$-$Preference

$2.$ Cash

Share Capital$-$Ordinary

Share Premium$-$Ordinary

$3.$ Accounts Receivable

Service Revenue

$4.$ Cash

Unearned Service Revenue

$5.$ Cash

Accounts Receivable

$6.$ Supplies

Accounts Payable

$7.$ Accounts Payable

Cash

$33,500$

$30,000$

$3,500$

$7,300$

$800$

$6,500$

$276,000$

$276,000$

$36,000$

$36,000$

$267,900$

$267,900$

$27,900$

$27,900$

$32,100$

$32,100$

Question $1$ of $711\mathrm{.}93/15$

Cash

$9.$ Other Operating Expenses

Cash

$10.$ Share Capital$-$Ordinary

Dividends Payable

$11.$ Allowance for Doubtful Accounts

Accounts Receivable

Adjusting entries

$1.$ Supplies Expense

Supplies

$2.$ Unearned Service Revenue

Service Revenue

$3.$ Bad Debt Expense

Allowance for Doubtful Accounts

$4.$ Depreciation Expense

Accumulated Depreciation$-$Buildings

$5.$ Debt Investments

$3,200$

$188,900$

$188,900$

$1,800$

$1,800$

$1,200$

$1,200$

$26,600$

$26,600$

$27,000$

$27,000$

$3,400$

$3,400$

$4,050$

$4,050$

$4,050$

Question $1$ of $711\mathrm{.}93/15$

$($b$)$

eTextbook and Media

Solution Assistance Used

List of Accounts Assistance Used

Attempts: $3$ of $3$ used

Your Answer Correct Answer

$$ Your answer is partially correct.

Prepare an adjusted trial balance at December $31,2025.$

ORIOLE SA

Adjusted Trial Balance

December $31,2025$

Debit Credit

Land $$

Buildings

Accumulated Depreciation$-$Buildings

$42,800$

$132,000$

$26,850$

Question $1$ of $711\mathrm{.}93/15$

Accounts Receivable

Allowance for Doubtful Accounts

Cash

Share Capital$-$Ordinary

Share Capital$-$Preference

Share Premium$-$Ordinary

Share Premium$-$Preference

Retained Earnings

Accounts Payable

Treasury Shares

Unearned Service Revenue

Dividends Payable

Service Revenue

Other Operating Expenses

Supplies Expense

Bad Debt Expense

$52,800$

$3,800$

$145,200$

$56,800$

$30,000$

$6,500$

$3,500$

$145,300$

$21,100$

$3,200$

$9,000$

$2,200$

$303,000$

$188,900$

$26,600$

$3,400$

Question $1$ of $711\mathrm{.}93/15$

$($c$1)$

Ordinary Share Dividends Distributable

Share Capital$-$Ordinary

Income Tax Expense

Total $$

eTextbook and Media

Solution Assistance Used

List of Accounts Assistance Used

Attempts: $3$ of $3$ used

$$ Your answer is correct.

Prepare an income statement. The income tax rate is $30\%.($Hint: Prepare the income statement up to income before taxes and

multiply by $30\%$ compute the amount of taxes.$)$

ORIOLE SA

Income Statement

For the Year Ending December $31,2025$

Service Revenue $$

$400$

$400$

$24,015$

$629,665843,150$

$303,000$

Question $1$ of $711\mathrm{.}93/15$

$($c$2)$

Other Operating Expenses $$

Bad Debt Expense

Depreciation Expense

Supplies Expense

Total Operating Expenses

Income Before Income Taxes

Income Tax Expense

Net Income $/($Loss$)$

eTextbook and Media

List of Accounts

Attempts: $2$ of $3$ used

$$ Your answer is correct.

Prepare a retained earnings statement for the year ending December $31,2025.($List itemsthat increase retained earnings first.$)$

$188,9$