A$-$In the first section, you are asked to record General Journal Entries and post them to your Ledger Accounts and at the end of the term you need to record ADJUSTING ENTRIES as well $(40$ points$).$ THERE ARE GOING TO BE $4$ GENERAL JOURNAL ENTRIES and ADJUSTING ENTRIES IN YOUR EXAM $(35$ TOTAL POINTS$)$ AND POSTING THEM TO LEDGER ACCOUNT IS $5$ POINTS.

B$-$In the second section, you will be given an Adjusted Trial Balance. You are going to prepare an Income Statement $(20$ pts$),$ Balance Sheet $(20$ pts$),$ and Closing Entries $(20$ pts$)$ using the given Adjusted Trial Balance $($TOTAL $60$ points$).$

A$-$Fides Company is a retailer that sells textile. The company's May $2024$ transactions are below.

Record the General Journal Entriees $(35$ pts as a total$).$ IN THE EXAM, THERE WILL BE $4$ JOURNAL ENTRIES

Record the Ledger Accounts $(pts).$

You are going to be asked to make $2$ different ADJUSTING ENTRIES $($expenses$,$ unearned revenues, VATs$)$

B$-$You are provided with the Adjusted Trial Balance of Fides Company as of December $31,20$XX $($total $60$ pts$).$

Prepare an Income Statement for XYZ Company for the year ended December $31,20$XX $(20$ pts$).$

Prepare a Balance Sheet for XYZ Company as of December $31,20$XX $(20$ pts$).$

Make closing entries to close the revenue, expense, and dividend accounts to Retained Earnings $(20$ pts$).$

Adjusted Trial Balance $-$ Fides Company

$\backslash$table$[[$Account Name,Balance$],[$Cash$,400\mathrm{.}000],[$Account Receivables,$30\mathrm{.}000],[$Office Supplies,$45\mathrm{.}000],[$Office Equipment,$15\mathrm{.}000],[$Building$,40\mathrm{.}000],[$Vehicle$,300\mathrm{.}000],[$Account Payable,$100\mathrm{.}000],[$Note Payable,$50\mathrm{.}000],[$Common Stock,$500\mathrm{.}000],[$Retained Earnings,$20\mathrm{.}000],[$Sales Revenue,$700\mathrm{.}000],[$Cost of Goods Sold,$400\mathrm{.}000],[$Salaries Expense,$50\mathrm{.}000],[$Rent Expense,$20\mathrm{.}000],[$Supplies Expense,$10\mathrm{.}000],[$Advertising Expense,$30\mathrm{.}000],[$Insurance Expense,$30\mathrm{.}000]]$