with expl, as soon as possible plz

i need u to make the journal entries (t account) for this transcation

ABC Store LTD Unadjusted Trial Balance 31 December 2019 Debit 100.000 Account $ Crede Cash 55.000 Accounts Receivable 75.000 Allowance for Doubtful Accounts 5.000 Prepaid Insurance 36.000 Merchandise Inventory 100.000 Equipment 40.000 Accumulated Depreciation Equpment 8.000 Building 300.000 Accumulated Depreciation Building 30,000 Land Mortgage Payabile 200,000 Accounts Payable 110.000 Common Stock 415.000 Retained Emings (As of 1 Jan 2019) 140,000 Sales 450.000 Sales Returns and Allowances 25.000 Sales Discounts 5.000 Cost of Goods Sold 120.000 Salary & Wage Expense 60.000 Uy Expense 30.000 Supplies Expense 12.000 $ 1.358.000 5 1,358,000 Tota Transactions 1. ABC Stores LTD purchased merchandise on count from lar 540.00020 130 2. ABC Stores LTD sold marchandise on account $30.00 110.30 The cost of the merchandise sold was $20.000 3. ABC Stores LTD received collection in full court. from customers bieden 4. ABC Store LTD paid the supplier in court of $30,000 on transaction 2 5. Aging schedule for ABC Stores is presented below N. NE T DLL TO 000 TOO 110.000 For A Dec 31, 2019, unadjusted balance in Allowance for Doubs Accounts ondet 5,000 6. The equipment has no salvage value and a set of 10 years. The buildings seife of 10 years with no salvage value. Both the equipment and building we purchased on January 1, 2016. There has been no adjustment to account for depreciation for the current year of 2019. ABC Store LTD appliecinin balance method for the equipment and straightine method for the building 7. ABC Stores LTD issued an $200.000,6%. 6 year mortgage note on December 31, 2015 with equal payments. Journalise the first installment payment comedor December 31, 2010 8. Prepaid insurance at your policy starting December 1, 2019. Rent of $30.000 were unrecorded and unpaid of 31 December, 2012 10. Corporate tax rate a 20%. Calculate corporate to provision expense Required: a) Open ledger accounts and journace the transactions (50% Prepare adjusted trance and multiple-step income statement for the period ended December 31, 2018. (10 6) Prepare a classified statement of financial position as of December 31, 2018 (ON ABC Stores LTD Unadjusted Trial Balance 31 December 2019 $ Credit Debit $ 55,000 75,000 5,000 36,000 100,000 40,000 300,000 8,000 30,000 500,000 Account Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Merchandise Inventory Equipment Accumulated Depreciation-Equipment Building Accumulated Depreciation - Building Land Mortgage Payable Accounts Payable Common Stock Retained Eamings (As of 1 Jan 2019) Sales Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salary & Wage Expense Utility Expense Supplies Expense Total 200,000 110,000 415,000 140,000 450,000 25,000 5,000 120,000 60,000 30.000 12,000 $ 1,358,000 $ 1,358,000 Transactions 1. ABC Stores LTD purchased merchandise on account from supplier D $40,000, terms 2/10, n/30 2. ABC Stores LTD sold merchandise on account $30,000, terms 1/10, n/30. The cost of the merchandise sold was $20,000. 3. ABC Stores LTD received collections in full, less discounts, from customers billed on sales of $30,000 on transaction 2. 4. ABC Stores LTD paid the supplier D in full, less discount. 5. Aging schedule for ABC Stores is presented below. Number of Days Past Due Not Yet Customer Total DUD 1-30 31-60 61-00 Over 90 X 50.000 10.000 10,000 25.000 5.000 Y 15,000 5.000 5.000 5.000 Z 10,000 10,000 Total 75,000 15,000 15,000 5,000 25,000 15,000 Estimated Percentage uncollectible 48 BS 10% 12% 60% Total Estimated Bad Debts 2 12 2 2 2 At Dec. 31, 2019, unadjusted balance in Allowance for Doubtful Accounts is a credit of $5,000 merchandise sold was 3. ABC Stores LTD received collections in full, less discounts, from customers billed on sales of $30,000 on transaction 2. 4. ABC Stores LTD paid the supplier D in full, less discount 5. Aging schedule for ABC Stores is presented below. Number of Days Pets Not Yet Customer D 1010 X 50 000 1000010.000 25.000 Y 15.000 5.000 5.000 5.000 10.000 90.000 Total 75,000 15,000 15,000 5.000 25,000 15.000 Estimated Percentage uncoche 10 Total Estimated Bad Debes At Dec. 31, 2019, unadjusted balance in Allowance for Doubtful Accounts is a credit of $5,000 6. The equipment has no salvage value and a useful life of 10 years. The building has a useful life of 10 years with no salvage value. Both the equipment and building were purchased on January 1, 2018. There has been no adjustment to account for depreciation for the current year of 2019. ABC Stores LTD applies declining-balance method for the equipment and straight-line method for the building. 7. ABC Stores LTD issued an $200,000, 6%, 6-year mortgage note on December 31, 2018 with equal annual payments. Journalize the first installment payment occurred on December 31, 2019 8. Prepaid insurance is a 1-year policy starting December 1, 2019. 9. Rent of $30,000 were unrecorded and unpaid as of 31 December, 2019. 10. Corporate tax rate is 20% Calculate corporate tax provision on expense. Required: a) Open ledger accounts and journalize the transactions. (50%) b) Prepare adjusted trial balance and multiple-step income statement for the period ended December 31, 2019. (10%) c) Prepare a classified statement of financial position as of December 31, 2019. (10%) List of accounts to be used Cash, Accounts Receivable, Allowance for Doubtful Accounts, Prepaid Insurance, Merchandise Inventory. Equipment, Accumulated Depreciation Equipment Building Accumulated Depreciation - Building, Land, Mortgage Payable, Accounts Payable, Accrued Expense, Corporate Tax Payable. Common Stock. Retained Earnings, Sales, Sales Returns and Allowances, Sales Discounts. Cost of Goods Solid Salary & Wage Expense. Utility Expense, Supplies Expense, Bad Debt Expense. Depreciation Expense, Interest Expense. Insurance Expense, Rent Expense. Corporate Tax Expense ABC Store LTD Unadjusted Trial Balance 31 December 2019 Debit 100.000 Account $ Crede Cash 55.000 Accounts Receivable 75.000 Allowance for Doubtful Accounts 5.000 Prepaid Insurance 36.000 Merchandise Inventory 100.000 Equipment 40.000 Accumulated Depreciation Equpment 8.000 Building 300.000 Accumulated Depreciation Building 30,000 Land Mortgage Payabile 200,000 Accounts Payable 110.000 Common Stock 415.000 Retained Emings (As of 1 Jan 2019) 140,000 Sales 450.000 Sales Returns and Allowances 25.000 Sales Discounts 5.000 Cost of Goods Sold 120.000 Salary & Wage Expense 60.000 Uy Expense 30.000 Supplies Expense 12.000 $ 1.358.000 5 1,358,000 Tota Transactions 1. ABC Stores LTD purchased merchandise on count from lar 540.00020 130 2. ABC Stores LTD sold marchandise on account $30.00 110.30 The cost of the merchandise sold was $20.000 3. ABC Stores LTD received collection in full court. from customers bieden 4. ABC Store LTD paid the supplier in court of $30,000 on transaction 2 5. Aging schedule for ABC Stores is presented below N. NE T DLL TO 000 TOO 110.000 For A Dec 31, 2019, unadjusted balance in Allowance for Doubs Accounts ondet 5,000 6. The equipment has no salvage value and a set of 10 years. The buildings seife of 10 years with no salvage value. Both the equipment and building we purchased on January 1, 2016. There has been no adjustment to account for depreciation for the current year of 2019. ABC Store LTD appliecinin balance method for the equipment and straightine method for the building 7. ABC Stores LTD issued an $200.000,6%. 6 year mortgage note on December 31, 2015 with equal payments. Journalise the first installment payment comedor December 31, 2010 8. Prepaid insurance at your policy starting December 1, 2019. Rent of $30.000 were unrecorded and unpaid of 31 December, 2012 10. Corporate tax rate a 20%. Calculate corporate to provision expense Required: a) Open ledger accounts and journace the transactions (50% Prepare adjusted trance and multiple-step income statement for the period ended December 31, 2018. (10 6) Prepare a classified statement of financial position as of December 31, 2018 (ON ABC Stores LTD Unadjusted Trial Balance 31 December 2019 $ Credit Debit $ 55,000 75,000 5,000 36,000 100,000 40,000 300,000 8,000 30,000 500,000 Account Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Merchandise Inventory Equipment Accumulated Depreciation-Equipment Building Accumulated Depreciation - Building Land Mortgage Payable Accounts Payable Common Stock Retained Eamings (As of 1 Jan 2019) Sales Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salary & Wage Expense Utility Expense Supplies Expense Total 200,000 110,000 415,000 140,000 450,000 25,000 5,000 120,000 60,000 30.000 12,000 $ 1,358,000 $ 1,358,000 Transactions 1. ABC Stores LTD purchased merchandise on account from supplier D $40,000, terms 2/10, n/30 2. ABC Stores LTD sold merchandise on account $30,000, terms 1/10, n/30. The cost of the merchandise sold was $20,000. 3. ABC Stores LTD received collections in full, less discounts, from customers billed on sales of $30,000 on transaction 2. 4. ABC Stores LTD paid the supplier D in full, less discount. 5. Aging schedule for ABC Stores is presented below. Number of Days Past Due Not Yet Customer Total DUD 1-30 31-60 61-00 Over 90 X 50.000 10.000 10,000 25.000 5.000 Y 15,000 5.000 5.000 5.000 Z 10,000 10,000 Total 75,000 15,000 15,000 5,000 25,000 15,000 Estimated Percentage uncollectible 48 BS 10% 12% 60% Total Estimated Bad Debts 2 12 2 2 2 At Dec. 31, 2019, unadjusted balance in Allowance for Doubtful Accounts is a credit of $5,000 merchandise sold was 3. ABC Stores LTD received collections in full, less discounts, from customers billed on sales of $30,000 on transaction 2. 4. ABC Stores LTD paid the supplier D in full, less discount 5. Aging schedule for ABC Stores is presented below. Number of Days Pets Not Yet Customer D 1010 X 50 000 1000010.000 25.000 Y 15.000 5.000 5.000 5.000 10.000 90.000 Total 75,000 15,000 15,000 5.000 25,000 15.000 Estimated Percentage uncoche 10 Total Estimated Bad Debes At Dec. 31, 2019, unadjusted balance in Allowance for Doubtful Accounts is a credit of $5,000 6. The equipment has no salvage value and a useful life of 10 years. The building has a useful life of 10 years with no salvage value. Both the equipment and building were purchased on January 1, 2018. There has been no adjustment to account for depreciation for the current year of 2019. ABC Stores LTD applies declining-balance method for the equipment and straight-line method for the building. 7. ABC Stores LTD issued an $200,000, 6%, 6-year mortgage note on December 31, 2018 with equal annual payments. Journalize the first installment payment occurred on December 31, 2019 8. Prepaid insurance is a 1-year policy starting December 1, 2019. 9. Rent of $30,000 were unrecorded and unpaid as of 31 December, 2019. 10. Corporate tax rate is 20% Calculate corporate tax provision on expense. Required: a) Open ledger accounts and journalize the transactions. (50%) b) Prepare adjusted trial balance and multiple-step income statement for the period ended December 31, 2019. (10%) c) Prepare a classified statement of financial position as of December 31, 2019. (10%) List of accounts to be used Cash, Accounts Receivable, Allowance for Doubtful Accounts, Prepaid Insurance, Merchandise Inventory. Equipment, Accumulated Depreciation Equipment Building Accumulated Depreciation - Building, Land, Mortgage Payable, Accounts Payable, Accrued Expense, Corporate Tax Payable. Common Stock. Retained Earnings, Sales, Sales Returns and Allowances, Sales Discounts. Cost of Goods Solid Salary & Wage Expense. Utility Expense, Supplies Expense, Bad Debt Expense. Depreciation Expense, Interest Expense. Insurance Expense, Rent Expense. Corporate Tax Expense