- X Non-Merchandising Transactions But Pay Jan. 2 Collected $3,700 on account. Paid the utilities and telephone bills from December. (On December 20, the company received bills for the telephone ($310) and utilities ($290). At that time the company recorded a Telephone Payable Jan. 15 liability and a Utilities Payable liability, respectively.) Paid the wages accrued in December. (Wages accrued in December Jan. 15 amounted to $1,150 and was recorded as a Wages Payable liability.) Jan. 18 Rented canoes and received cash, $2,100. Received bills for utilities ($320) and telephone ($250) which will be Jan. 20 paid later. Jan. 23 Paid various accounts payable, $1,400. Jan. 30 Paid employee, $1,200. el Print Done i Requirements $310) liability 1. Journalize and post the January transactions. Omit explanations. Use the ledger provided for posting. 2. Journalize and post the adjusting entries for the month of January. Omit explanations. Denote each adjustment as Adj. Compute each account balance, and denote the balance as Bal. In addition, Tree Top Company provides this data: A physical count of the inventory at the end of the month revealed the cost was $4,011. b. The company estimated sales retums will be $120 with a cost of $60. c. Office supplies used, $60. d. The Unearned Revenue has now been earned. e. Interest expense accrued on the notes payable, $30. f. Rent of one month has been used. (On December 1, the company prepaid $3,900 for three months' rent on the warehouse where the company stores the canoes. On December 31, the company recorded one month's worth of rent expense for the month of December in the amount of $1,300.) g. Monthy depreciation on the building amounts to $600. h. Monthy depreciation on the canoes amounts to $270. 3. Prepare the month ended January 31, 2025, single step income statement of Tree Top Company 4. Journalize and post the closing entries. Omit explanations. Denote each closing amount as Clo, and each balance as Bal. After posting all closing entries, prove the equality of debits and credits in the ledger by preparing a post-closing trial balance. 5. Compute the gross profit percentage for January for Tree Top Company. ges Pd 5. Print Done 0 Top Company a worrice based company that renta con forma on locale and rivero. Al the beginning of the new year, Tree Top hirt with a lopo printed on them. Treo Top Company has the perpetual entory system to account for the Inventory During any 202 cheangrencions, Midported the merchandising transactions to the content WETTERWOU preporu Yory View the oumal entries you prepared above. Cash Accounts Payable 2,980 Bal. Sales Revenue 5.255 Bal 8.837 Accounts Receivable 6,700 Untities Payable 290 Bal. Cance Rental Revenue 0 Bal Merchandise. Inventory 4.061 Telephone Payable 310 Bal Cost of Goods Sold 5.217 Bal Estimated Returns inventory Rent Expense Wages Payable 1.150 Bal Bal Office Supplies 400 Refunds Payable 0 Bal Wages Expense 0 Bal Utilities Expense Prepaid Rent 2.500 Interest Payable 30 Bal al Bal oose from any list or enter any number in the input dads and then continue to the question Tree Top Company service based company that renta care for me on beals and overs. At the beginning of the new year, Tree Tehirt with a logo printed on the Tree Top Company uses the perpetual Inventory system to account for the Inventory. During January marchandising from long, and posted the merchandising transacions to the lado con Prepaid Rent 2.600 Interest Payable 30 Bal. Ultes Expand Bal. Bel Land Unaarned Ravenue 300 Bal. Telephone Expensa Bal 65,000 Building 52.000 Notes Payable 9,600 Bat Supplies Expense Bal Bal Accumulated Depr.--Building 600 Bal Depreciation Expense Building Bal Canoes Depreciation Expenstances Walker, Capital 134,040 B Bal 12.900 Bal Income Summary Interest Expense Accumulated Dept...Canoes 340 lat Bal Bal Requirement 2. Journal and post the adjusting eines for the month of Januy Onit explanation Denchaustments A Comp Begin by jou in the adjusting entries for the moon orary Omit explanations and biterst matched. Elanation a) A physical count of the investety ale end of the month cevealed the cost was 54.015 Choose from any list or enter any nutriber in the outbildsid then continue to next question nega My lies the perpetual roniory system to account for the merchandlung transion, and ponded the merchandising tadion to the Indoor cca. Requirement 2 Journals and post the acting entries for the month of January. Omil plannina Denolo sche Bagin by Jumalling the adhunting entries for the month of January. Omitupione (Record debts first, then credt (a) A physical count of the Inventory at the end of the month revealed the cou wna 84,011. Date Account Debit Credit Jan 31 Adja (b) The company estimated sales returns will be $120 with a cost of $60. Begin by preparing the entry to joumalize the sales portion of the adjustment. Do not record the expense adjustment Accounts Debit Credit Date Jan. 31 Adj. (b) Now Joumalize the expense adjustment related to the estimated sales returns. Date Accounts Debit Cro Jan. 31 Adj. (b) (c) Office supplies used, $60. Debit Credit Date Accounts Jan 31 Adj. (c) (d) The Unearned Revenue has now been earned the name Revente balance was anitially recorded in Decemb Debit Credit Date Accounts Jan 31 Choose from any list or enter any number in the input fields and then continue to the next question (c) Office supplies used, $60. Date Accounts Debit Credit Jan. 31 Adj. (c) (d) The Uneared Revenue has now been earned. (The Unearned Revenue balance was initially recorded in Decem Date Accounts Debit Credit Jan. 31 Adj. (d) (e) Interest expense accrued on the notes payable, $30. Date Accounts Debit Credit Jan. 31 Adj. (0) (0) Rent of one month has been used. (On December 1, the company prepaid $3,900 for three months' rent on the ware Rent of one month has been used. (On December 1, the company prepaid $3,900 for three months' rent on the warehouse where the Date Accounts Debit Credit Jan. 31 Adj. (9) Monthy depreciation on the building amounts to $600. Date Accounts Debit Credit Jan 31 Adj. (9) (h) Monthy depreciation on the canoes amounts to $270. Date Accounts Debit Credit Jan 31 Adj, h) Enter the unadjusted balance of each account by selecting a "Bal" reference and entering the amount on first line and on the appropriate si "Ad(a)" as the appropriate posting reference to post to the accounts Compute the adjusted balance of each account, and donote the balar Ganh Accounts Payable Sales Revenue moet on the warehouse where the company recom On December 31, the company recorded one month ofrer per the month of December in the amount of 1,300) Cr Tree Top Company has service based company that renta cances for use on local fakes and rivers. At the beginning of the new year, Tree T-shirts with its logo printed on them. Tren Top Company uses the perpetual Inventory system to account for the inventory. During January marchandising transactions, and posted the merchandising transactions to the lado account on) Monthy depreciation on the canoes amounts to $270, Data Accounts Debit Credit Jan 31 Adith) Enter the unadjusted balance of each account by selecting a "Bal reference and entering the amount on first line and on the appropriate side "Adj. (ay" as the appropriate posting reference to post to the accounts Compute the adjusted balance of sich account and denote the balang Cash Accounts Payable Sales Revenue Accounts Receivable Us Payable Cance Rental Revenue Marchandise Inventory Telephone Payable Cost of Goods Sold Estimated Returns Inventory Wages Paysbile Rent Expense Ota Bupplies Refunds Paya Wages en Ouipe Tree Top Company is service brand compary that renta canone for use on local lakes and vers. At the beginning of the new year, Trao T T-hirt with a logo printed on them. True Top Company when the perpetual Inventory system to account for the Inventory. During January 2 merchandising the one and posted the merchandising tremmolons to the last accounta. Estimated Retums Inventory Wages Payable Rent Expense Office Supplies Refunds Payable Wages Expense Prepaid Rent Interest Payable Utilities Expense Land Unearned Revenue Telephone Expense Building Notes Payable Supplies Expense Accumulated Dept.-Building Depreciation Expense Building Concen Walker Capital Depreciation Expens Canoes Depreciation Expanse Building Canoes Walker, Capital Depreciation Expense Canoes Accumulated Depr.-Canoes Income Summary Interest Expense Requirement 3. Prepare the month ended January 31, 2025, single step income statement of Tree Top Company Tree Top Company Income Statement Month Ended January 31, 2025 Revenues: Total Revenues Expenses : - X Non-Merchandising Transactions But Pay Jan. 2 Collected $3,700 on account. Paid the utilities and telephone bills from December. (On December 20, the company received bills for the telephone ($310) and utilities ($290). At that time the company recorded a Telephone Payable Jan. 15 liability and a Utilities Payable liability, respectively.) Paid the wages accrued in December. (Wages accrued in December Jan. 15 amounted to $1,150 and was recorded as a Wages Payable liability.) Jan. 18 Rented canoes and received cash, $2,100. Received bills for utilities ($320) and telephone ($250) which will be Jan. 20 paid later. Jan. 23 Paid various accounts payable, $1,400. Jan. 30 Paid employee, $1,200. el Print Done i Requirements $310) liability 1. Journalize and post the January transactions. Omit explanations. Use the ledger provided for posting. 2. Journalize and post the adjusting entries for the month of January. Omit explanations. Denote each adjustment as Adj. Compute each account balance, and denote the balance as Bal. In addition, Tree Top Company provides this data: A physical count of the inventory at the end of the month revealed the cost was $4,011. b. The company estimated sales retums will be $120 with a cost of $60. c. Office supplies used, $60. d. The Unearned Revenue has now been earned. e. Interest expense accrued on the notes payable, $30. f. Rent of one month has been used. (On December 1, the company prepaid $3,900 for three months' rent on the warehouse where the company stores the canoes. On December 31, the company recorded one month's worth of rent expense for the month of December in the amount of $1,300.) g. Monthy depreciation on the building amounts to $600. h. Monthy depreciation on the canoes amounts to $270. 3. Prepare the month ended January 31, 2025, single step income statement of Tree Top Company 4. Journalize and post the closing entries. Omit explanations. Denote each closing amount as Clo, and each balance as Bal. After posting all closing entries, prove the equality of debits and credits in the ledger by preparing a post-closing trial balance. 5. Compute the gross profit percentage for January for Tree Top Company. ges Pd 5. Print Done 0 Top Company a worrice based company that renta con forma on locale and rivero. Al the beginning of the new year, Tree Top hirt with a lopo printed on them. Treo Top Company has the perpetual entory system to account for the Inventory During any 202 cheangrencions, Midported the merchandising transactions to the content WETTERWOU preporu Yory View the oumal entries you prepared above. Cash Accounts Payable 2,980 Bal. Sales Revenue 5.255 Bal 8.837 Accounts Receivable 6,700 Untities Payable 290 Bal. Cance Rental Revenue 0 Bal Merchandise. Inventory 4.061 Telephone Payable 310 Bal Cost of Goods Sold 5.217 Bal Estimated Returns inventory Rent Expense Wages Payable 1.150 Bal Bal Office Supplies 400 Refunds Payable 0 Bal Wages Expense 0 Bal Utilities Expense Prepaid Rent 2.500 Interest Payable 30 Bal al Bal oose from any list or enter any number in the input dads and then continue to the question Tree Top Company service based company that renta care for me on beals and overs. At the beginning of the new year, Tree Tehirt with a logo printed on the Tree Top Company uses the perpetual Inventory system to account for the Inventory. During January marchandising from long, and posted the merchandising transacions to the lado con Prepaid Rent 2.600 Interest Payable 30 Bal. Ultes Expand Bal. Bel Land Unaarned Ravenue 300 Bal. Telephone Expensa Bal 65,000 Building 52.000 Notes Payable 9,600 Bat Supplies Expense Bal Bal Accumulated Depr.--Building 600 Bal Depreciation Expense Building Bal Canoes Depreciation Expenstances Walker, Capital 134,040 B Bal 12.900 Bal Income Summary Interest Expense Accumulated Dept...Canoes 340 lat Bal Bal Requirement 2. Journal and post the adjusting eines for the month of Januy Onit explanation Denchaustments A Comp Begin by jou in the adjusting entries for the moon orary Omit explanations and biterst matched. Elanation a) A physical count of the investety ale end of the month cevealed the cost was 54.015 Choose from any list or enter any nutriber in the outbildsid then continue to next question nega My lies the perpetual roniory system to account for the merchandlung transion, and ponded the merchandising tadion to the Indoor cca. Requirement 2 Journals and post the acting entries for the month of January. Omil plannina Denolo sche Bagin by Jumalling the adhunting entries for the month of January. Omitupione (Record debts first, then credt (a) A physical count of the Inventory at the end of the month revealed the cou wna 84,011. Date Account Debit Credit Jan 31 Adja (b) The company estimated sales returns will be $120 with a cost of $60. Begin by preparing the entry to joumalize the sales portion of the adjustment. Do not record the expense adjustment Accounts Debit Credit Date Jan. 31 Adj. (b) Now Joumalize the expense adjustment related to the estimated sales returns. Date Accounts Debit Cro Jan. 31 Adj. (b) (c) Office supplies used, $60. Debit Credit Date Accounts Jan 31 Adj. (c) (d) The Unearned Revenue has now been earned the name Revente balance was anitially recorded in Decemb Debit Credit Date Accounts Jan 31 Choose from any list or enter any number in the input fields and then continue to the next question (c) Office supplies used, $60. Date Accounts Debit Credit Jan. 31 Adj. (c) (d) The Uneared Revenue has now been earned. (The Unearned Revenue balance was initially recorded in Decem Date Accounts Debit Credit Jan. 31 Adj. (d) (e) Interest expense accrued on the notes payable, $30. Date Accounts Debit Credit Jan. 31 Adj. (0) (0) Rent of one month has been used. (On December 1, the company prepaid $3,900 for three months' rent on the ware Rent of one month has been used. (On December 1, the company prepaid $3,900 for three months' rent on the warehouse where the Date Accounts Debit Credit Jan. 31 Adj. (9) Monthy depreciation on the building amounts to $600. Date Accounts Debit Credit Jan 31 Adj. (9) (h) Monthy depreciation on the canoes amounts to $270. Date Accounts Debit Credit Jan 31 Adj, h) Enter the unadjusted balance of each account by selecting a "Bal" reference and entering the amount on first line and on the appropriate si "Ad(a)" as the appropriate posting reference to post to the accounts Compute the adjusted balance of each account, and donote the balar Ganh Accounts Payable Sales Revenue moet on the warehouse where the company recom On December 31, the company recorded one month ofrer per the month of December in the amount of 1,300) Cr Tree Top Company has service based company that renta cances for use on local fakes and rivers. At the beginning of the new year, Tree T-shirts with its logo printed on them. Tren Top Company uses the perpetual Inventory system to account for the inventory. During January marchandising transactions, and posted the merchandising transactions to the lado account on) Monthy depreciation on the canoes amounts to $270, Data Accounts Debit Credit Jan 31 Adith) Enter the unadjusted balance of each account by selecting a "Bal reference and entering the amount on first line and on the appropriate side "Adj. (ay" as the appropriate posting reference to post to the accounts Compute the adjusted balance of sich account and denote the balang Cash Accounts Payable Sales Revenue Accounts Receivable Us Payable Cance Rental Revenue Marchandise Inventory Telephone Payable Cost of Goods Sold Estimated Returns Inventory Wages Paysbile Rent Expense Ota Bupplies Refunds Paya Wages en Ouipe Tree Top Company is service brand compary that renta canone for use on local lakes and vers. At the beginning of the new year, Trao T T-hirt with a logo printed on them. True Top Company when the perpetual Inventory system to account for the Inventory. During January 2 merchandising the one and posted the merchandising tremmolons to the last accounta. Estimated Retums Inventory Wages Payable Rent Expense Office Supplies Refunds Payable Wages Expense Prepaid Rent Interest Payable Utilities Expense Land Unearned Revenue Telephone Expense Building Notes Payable Supplies Expense Accumulated Dept.-Building Depreciation Expense Building Concen Walker Capital Depreciation Expens Canoes Depreciation Expanse Building Canoes Walker, Capital Depreciation Expense Canoes Accumulated Depr.-Canoes Income Summary Interest Expense Requirement 3. Prepare the month ended January 31, 2025, single step income statement of Tree Top Company Tree Top Company Income Statement Month Ended January 31, 2025 Revenues: Total Revenues Expenses