Question: help with my previous homework! i got it wrong Homework Journal transactions, adjusting entries, ledger accounts, adjusted trial balance, statement of preparation On December 31,

Homework Journal transactions, adjusting entries, ledger accounts, adjusted trial balance, statement of preparation On December 31, 2021, the account balance of Coffee Prince Inc, was as follows. During December, the following summary transactions were completed. Dec 02 Purchased supplies on account $17,500. Dec 05 Received \$52,500 cash for services performed in December Dec 07 Paid $10,000 for salaries due employees, of which $4,800 is for October salaries. Dec 10 Purchased equipment on account $6,750. provided Adjustment data consist of: 1. Unearned service revenue $4,000 is recognized for services performed. 2. Accrued salaries payable $6,400. 3. Supplies on hand $6,000. 4. Depreciation for the month is $750. Required: a). Journalize the December transactions. b). Journalize the adjusting entries on December 31,2021. c). Post to ledger accounts using the three-column form of account. (Use JI for posting references. Use the following additional accounts: No. 400 Service Revenue, No. 631 Supplies Expense, No. 711 Depreciation Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.) d). Prepared an adjusted trial balance. e). Prepare an Income Statement and a Retained Eamings Statement for December and a Statement of Financial Position on December 31, 2021. Homework Journal transactions, adjusting entries, ledger accounts, adjusted trial balance, statement of preparation On December 31, 2021, the account balance of Coffee Prince Inc, was as follows. During December, the following summary transactions were completed. Dec 02 Purchased supplies on account $17,500. Dec 05 Received \$52,500 cash for services performed in December Dec 07 Paid $10,000 for salaries due employees, of which $4,800 is for October salaries. Dec 10 Purchased equipment on account $6,750. provided Adjustment data consist of: 1. Unearned service revenue $4,000 is recognized for services performed. 2. Accrued salaries payable $6,400. 3. Supplies on hand $6,000. 4. Depreciation for the month is $750. Required: a). Journalize the December transactions. b). Journalize the adjusting entries on December 31,2021. c). Post to ledger accounts using the three-column form of account. (Use JI for posting references. Use the following additional accounts: No. 400 Service Revenue, No. 631 Supplies Expense, No. 711 Depreciation Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.) d). Prepared an adjusted trial balance. e). Prepare an Income Statement and a Retained Eamings Statement for December and a Statement of Financial Position on December 31, 2021
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
