20 DENTI 1. 2. 3. Cash 4. 567 A/R Supplies Land Equipment Acc Depr A/P Required:...

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20 DENTI 1. 2. 3. Cash 4. 567 A/R Supplies Land Equipment Acc Depr A/P Required: Salaries Payable Common Shares R.E. Revenue Salaries Exp Co.AAA Inc. Opening Trial Balance As at January 1, 2022 Depr. Exp Supplies Exp. Totals 6 10 24 20 Transactions and events during 2022 ( amounts in thousands of dollars) for Co.AAA: a. Purchased equipment on April 7, paid cash $18. b. Purchased supplies on credit on May 22, in the value of $36. c. Paid $26 cash on June 3, for the supplies purchased previously. d. Recognized revenues of $320 on November 12, including $80 on account and the remaining collected in cash. e. Recorded salary expense on December 7, $170 paid in cash. f. Issued additional common shares on July 14, for $46. Data for adjusting entries as of December 31, 2022: g. Salaries, earned by employees, but not yet paid nor recorded by Co.AAA, $24. h. Depreciation for the year on the equipment, $10. i. Supplies on hand as of December 31: $20. 120 . 180 12 10 142 16 180 Prepare the journal entries from a to i. Post the journal entries to their corresponding T-accounts. Prepare the Adjusted Trial Balance for the year end, which ends on December 31. Prepare the year-end Income Statement, Statement of Retained Earnings, and the Balance Sheet. Prepare all closing journal entries. Post the closing journal entries to their corresponding T-accounts. Prepare the Closing Trial Balance. 20 DENTI 1. 2. 3. Cash 4. 567 A/R Supplies Land Equipment Acc Depr A/P Required: Salaries Payable Common Shares R.E. Revenue Salaries Exp Co.AAA Inc. Opening Trial Balance As at January 1, 2022 Depr. Exp Supplies Exp. Totals 6 10 24 20 Transactions and events during 2022 ( amounts in thousands of dollars) for Co.AAA: a. Purchased equipment on April 7, paid cash $18. b. Purchased supplies on credit on May 22, in the value of $36. c. Paid $26 cash on June 3, for the supplies purchased previously. d. Recognized revenues of $320 on November 12, including $80 on account and the remaining collected in cash. e. Recorded salary expense on December 7, $170 paid in cash. f. Issued additional common shares on July 14, for $46. Data for adjusting entries as of December 31, 2022: g. Salaries, earned by employees, but not yet paid nor recorded by Co.AAA, $24. h. Depreciation for the year on the equipment, $10. i. Supplies on hand as of December 31: $20. 120 . 180 12 10 142 16 180 Prepare the journal entries from a to i. Post the journal entries to their corresponding T-accounts. Prepare the Adjusted Trial Balance for the year end, which ends on December 31. Prepare the year-end Income Statement, Statement of Retained Earnings, and the Balance Sheet. Prepare all closing journal entries. Post the closing journal entries to their corresponding T-accounts. Prepare the Closing Trial Balance.

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Heres a breakdown of the required tasks 1 Prepare the journal ... View the full answer