i really need the help! its due very soon ! i will definitely give a thumb up !

Need to do the journal Entries and Financial Statements

$1.90 for scoop of ice cream

$ 2.05 for Novelties.

can ignore the jounal entires requiring the data in August! thann you so much !

ARCTIC BLAST MONTH 2 TRANSACTIONS Group name Team 1 Please round all amounts to the nearest dollar. You must pay the rent for the second month of operations Sept. 1 #2-1 2,500 Sept. 1 You pay for all of the advertising for the second month of 510 Sept Paid the amounts due for the inventory received on Aug. 22 in transaction #20 You receive the discount. Record sales and cost of sales for the first two days of September Scoops of ice cream Remember that the purchases have been recorded using the Sept. 2 Units sold 802 102 net of discount method. Sept. 3 You receive the fifth shipment of product to be sold Total Total 2,356 299 706.8 149.5 Ice cream The discount for payment within 10 days is still available. Sept. 5 #2-6 Paid the amounts due for the inventory received on Aug.26 i transaction #23. You receive the discount. Sept. 5 #2-7 You pay all of the payroll taxes that were recorded in the August 26 payroll entry Sept. 6 #2-8 The Board of Directors declares a dividend equal to 10% of August's net income. If you had a loss in August, no entry is required. The dividend will be paid on Sept. 16 Sept. 7 You receive the ublity bill for August. You pay the bill immediately The amount of the bill is approximately the same as last month's accrual but is slightly more. It is Record sales and cost of sales for the second week of September Scoops of Remember that the purchases have been recorded using the 216 Sept. 9 #2-10 Units sold 2,105 266 ice cream net of discount method. Sept. 10 #2-11 You receive the sixth shipment of product to be sold cost 2.105 266 631.5 133 Ice creanm The discount for payment within 10 days is stll available. Sept. 13 #2-12 Paid the amounts due for the inventory received on Sept. 3 in transaction #2-5. You receive the discount. Sept. 15 #2-13 The amount due to Restaurant Supply Co.of is now due. You make the payment 69.400 Sept. 15 #2-14 The amount due to Supplies R Us should be paid today Refer to the August 16 transaction (#1-17) to determine this amount. Sept. 16 #2-15 The dividend declared in transaction #2-8 is paid Sept. 16 #2-16 Record sales and cost of sales for the third week of September Units sold 2,206 279 Scoops of ice cream Novelties Remember that the purchases have been recorded using the net of discount method Sept. 17 #2-17 You receive the seventh shipment of product to be sold Total units Total cost Ice cream Novelties 2,206 279 661.8 139.5 The discount for payment within 10 days is still available Sept. 20 #2-18 Paid the amounts due for the inventory received on Sept. 10 in transaction #2-11. You receive the discount. Sept. 21 #2-19 You receive the telephone bill for the period Aug. 16-Sept. 15 Some of this bill was accrued at the end of August. The total amount of the bill is 134 You pay it immediately Sept. 23 #2-20 Record sales and cost of sales for the fourth week of September Units sold Scoops of ice cream Novelties Remember that the purchases have been recorded using the net of discount method 2,406 305 Sept. 24 #2-21 You receive the eighth shipment of product to be Total Ice cream Novelties 2.406 305 721.8 52.5 The discount for payment within 10 days is still available. Sept. 25 #2-22 You purchase more office supplies on account from Supplies R Us. The amount of the charge is This amount is due in 30 days 39 Sept, 27 #2-23 Paid the amounts due for the inventory received on Sept 17 in transaction #2-17. You receve the discount. Record sales and cost of sales for the last week of September Scoops of Remember that the purchases have been recorded using the Sept. 30 #2-24 Units sold 2,507 317 ice cream net of discount method. Sept. 30 You pay the employees their wages and the manager hisher #2-25 salary for the second month of opearations. The total amount of wages and salaries is 8,158 The emplayer is required to withhold the following from the employees paychecks: Federal income tax 10% State income tax 5% Social Security tax 6.2%% Medicare 1.45% The employer's payroll taxes are Social Security tax Medicare 1 45% FUTA 08% SUTA 2.8% 6.2% Accrue payroll taxes for payment in October. You are paying the employees for five full weeks, including the days accrued from August This is the end of the second month of operating activity, However, you will also need to prepare adjusting entries for the end of September, Below is some information that will help you prepare adjusting entries. Adjust 1You need to expense one month of the franchise fee. The franchise fee has a #2-26 two year ife. Adjust 2 #2-27 Arctic Blast has not yet been billed for ublities (electricity, water,etc.) for September. You need to accrue the estimated expense of 201 Adjust. 3 #2-28 The value of the office supplies on hand at the end of the month is 206.Record the amount used during September Adjust 4 #2-29 Arctic Blast must accrue the telephone bill for the second half of September It is estimated to be 69 Adj, 5 to7 #2-30 to #2-32 There are three other adjusting entries that need to be made based on the information provided in the August transactions. Record these adjustments as needed. This should complete all of the entries for your September financial period Post all joumal entries and adjusting journal entries to accounts. Even though only two months have been completed, close the temporary accounts and prepare a set of interim financial statements for September. Follow the directions of your instructor regarding what statements you should prepare. You should perform some financial statement analyss and change your selling prices and your advertising choices acoordingly