Question: i need help on this one question number 2 Required: 1) Make the end-of-period adjustments entries. (13 Marks) 2) Prepare the balance sheet for Naomi's

Required: 1) Make the end-of-period adjustments entries. (13 Marks) 2) Prepare the balance sheet for Naomi's Frames as at Dee 31, 2022. Assuming the net profit for the year after adjustments is $38,250. (13 Marks) 3) What would be the effect on the financial statements at Dec 31, 2022, if the adjusting entry for the heating bill were not recorded at the end of the year? (4 Marks) B- Errors can be classified into those that do and those that do not affect the trial balance. Errors that do not affect the trial balance means that it still balances. Errors that affect the trial balance result in a discrepancy that prevents it balancing. State Four errors of each type (10 Marks) Question 2 (30 Marks) A- AAA electronies Company reports the following information pertaining to its 2022 operations Kequirea: Prepare a manufacturing account for AAA Company for 2022. (10 Marks) B- Rolland Enterprises makes product R1 and has estimated costs for the second half of year 2023 as follows: Required 1. Use high-low method to compute the variable and fixed elements of Rolland's total costs. 2. Estimate the total cost of making 2,600 units, assuming total fixed costs and variable cost per unit do not change. (10 C- Hamad Park sells tickets at $60 per person as a one-day entrance fee. Variable costs are 40% of ticket price, and fixed costs are $226,800 per month. Required: 1. Compute the number of tickets Hamad Park must sell to break even. 2. Compute the sales revenue Hamad Park needs to break even. 3. What will be the effect on net income if the Hamad Park sold tickets less than its breakeven? Explain. 4- How many tickets Hamad Park must sell to achieve a target profit of $180,000 5- If Hamad Park expects to sell 7,000 tickets, what will be its contribution margin and its net operating income? (10 Marks)
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