GL0404 - Based on Problem 4-6A LO P4

The unadjusted trial balance for Stam Consulting as December 31 is provided on the trial balance tab.

Information for adjustments is as follows:

1. As of December 31, employees had earned $1,300 of unpaid and unrecorded salaries. The next payday is January 4, at which time $1,625 of salaries will be paid.
2. The cost of supplies still available at December 31 is $1,600.
3. The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31 is $1,075. The next interest payment, at an amount of $1,290, is due on January 15.
4. Analysis of the unearned member fees account shows $2,600 remaining unearned at December 31.
5. In addition to the member fees included in the revenue account balance, the company has earned another $12,300 in unrecorded fees that will be collected on January 31. The company is also expected to collect $13,000 on that same day for new fees earned in January.
6. Depreciation expense for the year is $23,000.

please help with:

• General Journal
• Income statement
• st. owners equity
• balance sheet
• post-closing

Account Title

Cash debit 156,920

Supplies debit 8,000

Equipment debit 115,000

Accumulated depreciation - Equipment credit 46,000

Unearned member fees credit 19,500

Long-term notes payable credit 86,000

J. Stam, Capital credit 114,000

J. Stam, Withdrawals debit 24,000

Member fees earned credit 58,000

Salaries expense debit 17,000

Interest expense debit 2,580

Total debit 323,500 and credit 323,500