Question: it's the second time posting it please help me answer correctly. I need it asap, please. thank you Shirt Shack Ltd. is a retail store

it's the second time posting it please help me answer correctly. I need it asap, please. thank you

it's the second time posting it please help me answer correctly. Ineed it asap, please. thank you Shirt Shack Ltd. is a retailstore operating in a downtown shopping mall. On 1 January 208, itreported the following: During 208, the company reported the following: a. Cash

Shirt Shack Ltd. is a retail store operating in a downtown shopping mall. On 1 January 208, it reported the following: During 208, the company reported the following: a. Cash paid to employees (salaries and commissions), $63,200. Cash paid to suppliers' for payment of accounts payable, $84,800 (Note payables to all suppliers are for inventory purchases.) b. Cash collected on customer accounts receivable accounts, $207,200. c. On 31 December 208, a physical inventory count revealed that inventory was $39,600. The company uses the periodic inventory system. d. At 31 December 208, customers owed Shirt Shack $33,000, and the company owed its suppliers for inventory purchases $13,200. Of the accounts receivable, aging analysis indicated that $3,800 was expected to be uncollectible. No accounts were written off in 208. e. Cash paid to landlord, $18,000 ( $1,500 per month for 12 months). Shirt Shack is required to pay monthly rent and, at year-end, make an additional payment to bring the total rent expense up to 10% of sales. This payment will be made in January 209. f. Cash paid for miscellaneous operating expenses, $7,600. g. Cash paid in dividends, $16,100; in interest, $1,650. No interest is owing at 31 December 208. h. Shirt Shack owed employees $660 in wages and $2,600 in commissions at year-end. i. The leasehold improvements were acquired on 1 January 20X7. They had an expected life of 10 years and were installed in leased premises that had a five-year lease on 1 January 207. Required: 1-a. Prepare journal entries for all transactions. (Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 12 Record the amortization on leasehold improvements. Note: O journal entry has been entered -b. Prepare journal entries needed adjustments. (Do not round your intermediate calculations. If no entry is required for a ransaction/event, select "No journal entry required" in the first account field.) 2. Prepare an SCI for the year ended 31 December 20X8. Ignore income tax. (Do not round your intermediate calculations.)

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