Question: hello, this is a multiple answer question that I need your help with. (a, b, c, d, e) part A part A continued part B












-75 !! Cullumber Corporation's trial balance at December 31, 2022 is presented below. All 2022 transactions have been recorded except for the items described below Debit Credit Cash $21,420 Accounts Receivable 42,840 Inventory 19,068 Land 54,600 Buildings 79,800 Equipment 33,600 Allowance for Doubtful Accounts $378 25,200 Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment 12,096 Accounts Payable 16,212 -0- Interest Payable Dividends Payable Unearned Rent Revenue -0- 6,720 42,000 -0- Bonds Payable (10%) Preferred Stock ($20 par) Paid-in Capital in Excess of Par-Preferred Stock Common Stock ($10 par) -0- 25,200 Paid-in Capital in Excess of Par-Common Stock 5,040 63,042 -0- -0- Retained Earnings Treasury Stock Cash Dividends Sales Revenue Rent Revenue Bad Debt Expense Interest Expense 478,800 -0- -0- -0- Cost of Goods Sold 336.000 -0- Depreciation Expense Other Operating Expenses Salaries and Wages Expense 32,760 54,600 Total *574.688 $674,688 Unrecorded transactions and adjustments: 1. On January 1, 2022, Cullumber issued 840 shares of $20 par, 6% preferred stock for $18,480. 2 On January 1, 2022, Cullumber also issued 840 shares of common stock for $19,320. 3. 4 Cullumber reacquired 252 shares of its common stock on July 1, 2022 for $49 per share. On December 31, 2022, Cullumber declared the annual cash dividend on the preferred stock and a $1.50 per share dividend on the outstanding common stock, all payable on January 15, 2023, Cullumber estimates that uncollectible accounts receivable at year-end are $4,284 The building is being depreciated using the straight-line method over 30 years. The salvage value is $4.200. 5. . 6. 6. 7. 8. The building is being depreciated using the straight-line method over 30 years. The salvage value is $4,200, The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,360. The unearned rent was collected on October 1, 2022. It was receipt of 4 months' rent in advance (October 1, 2022 through January 31, 2023) The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2022, has not been paid or recorded 9. (Ignore income taxes.) (a) Prepare journal entries for the transactions and adjustment listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. 7. 8. 9. 9. (b) Prepare an updated December 31, 2022, trial balance, reflecting the journal entries in part(a). CULLUMBER CORPORATION Adjusted Trial Balance Debit Credit $ (C) Prepare a multiple step income statement for the year ending December 31, 2022. (List other revenues before other expenses.) CULLUMBER CORPORATION Income Statement > $ (d) Prepare a retained earnings statement for the year ending December 31, 2022. (List items that increase retained earning first.) CULLUMBER CORPORATION Retained Earnings Statement > ini > Uables and Stockholders' Equity TI U 0
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