need a QT sheet and a income statement

i need a QT sheet and income statement

East Coast Recycling Ltd. (ECRL) East Coast Recycling Ltd. (ECRL) is a Newfoundland -based company specializing in the collection and reprocessing of glass and plastic drinking containers. The company also has a retail component, selling composting and reeycling products. ECRL was founded in 2018 and has positioned itself as a leading company in its field. The company's year end is January 31 Please ignore all taxes (income and sales tax) in preparing your answer ECRL had the following account balances at December 31, 2020: Cink Shamed RS 000 Aceasts Receivable 101.000 Cum In my 1:35.000 Rp14 pes 12.00 Saleem 100 225.00 Color Good Solid Accumulated Depeccatum Warcs trupene 11,000 Aceh 0 Anti Espone Dividend Dared 5,00 Resepte Diverselle ECRL had these transactions during January 2021, the last month of ECRL's fiscal year: 1. C. pwwtime for sing 100 1 financing the balance manas payable at the needs 12 mertebesten the said the first day of every month Monte BCRL determined the track will have all life of fire you and area of 570.00 1 BCR, paid for policy on them for the petrol Jay December 21,2001 The cryp, in credit, in 13.000 12 Newfounded by News Recycling mati ECRL Terbury L. 01. IL. 23. In het NUCL 540 the few's fees the Made 378 of which we les case. The cost to ECRL 551.500 31 Rosed by mpc during the 50.000 wid 31 Ovde sex white by the board recorded in the 31 5.000 euro 2001 ECRL also needed to record adjusting entries dated January 31. for the following They contingut The cated to see you The wyreinted to the deprecies new di The easy for pencinte all the equipame foshe year in the cent of lel Texty to the thelle The 512,700 of the camera beddeghe Required: Using the Q-T approach discussed in class, prepare the following: Q-T sheet showing how the above transactions are recorded Income statement Statement of financial position - A brief commentary one paragraph) on ECRL'S performance sition at the end East Coast Recycling Ltd. (ECRL) is a Newfoundland -based company specializing in the collection and reprocessing of glass and plastic drinking containers. The company also has a retail component, selling composting and recycling products. ECRL was founded in 2018 and has positioned itself as a leading company in its field. The company's year end is January 31. Please ignore all taxes (income and sales tax) in preparing your answer ECRL had the following account balances at December 31, 2020: Cash $9,000 Uneamed Revenge SN1.000 Accounts Receivable 100.000 Common Shares 85.000 Inventory 135.000 Retained Earnings 131,000 Supplies 12.000 Sales Revenge 983.000 Equipment 235.000 Cost of Goods Sold 530,000 Accumulated Depreciation Equipment 10.000 Wages Expense 131.000 Accounts Payable 79.000 Advertising Expense 30.000 Dividends Declared R900 Rent Expense 33.000 Dividends Payable 3.900 ECRL had these transactions during January 2021, the last month of ECRL's fiscal year: Jan ECRL purchased a new collection track for $306,000, paying S106,000 cash and 1 financing the balance using a sete payable at 99 per annum. The note payable is due in 12 months, but interest on the note must be paid on the first day of every month. Management of ECRL has determined that the truck will have a useful life of five years and a residual value of S70.200 1 ECRL paid $2.880 for an insurance policy on the new track for the period January 1 10 December 31, 2021 5 The company purchased on credit, inventory at a cost of $13,000 12 Newfoundland University (NU).ce of ECRL'argest customers, signed a new glass recycling contract with ECRL The contract runs from February 1, 2021. to January 31. 2022. In accordance with the terms of the contact, NU paid ECRL 54.600, representing the first month fos under the contract 18 Mode $75.690 in sales of compost is, of which one-third was on account and the balance was cash. The cost to ECRL of the bin soll was $51.500 31 Recorded wapes canned by employees during the month of 552,000, of which $26.000 wered 31 ECRI paid dividends in the amount of $8.900, which had been declared by the board and recorded in the accounts in December 2020 31 Paid $3,000 rent for the month of January 2021 ECRL also needed to record adjusting entries dated January 31, for the following: (a) The entry to recognize that supplies conting 32.000 remained on hand at the end of the (b) The entry related to its insurance expense for the policy on the new truck. (c) The entry related to the depreciation of new track (d) The entry for depreciation of the equipment for the year in the amount of $59.500 (e) The entry related to the interest on the sole puyable The entry to recognise that $12.700 of the uncared revenge had been earned during the month of January East Coast Recycling Ltd. (ECRL) East Coast Recycling Ltd. (ECRL) is a Newfoundland -based company specializing in the collection and reprocessing of glass and plastic drinking containers. The company also has a retail component, selling composting and reeycling products. ECRL was founded in 2018 and has positioned itself as a leading company in its field. The company's year end is January 31 Please ignore all taxes (income and sales tax) in preparing your answer ECRL had the following account balances at December 31, 2020: Cink Shamed RS 000 Aceasts Receivable 101.000 Cum In my 1:35.000 Rp14 pes 12.00 Saleem 100 225.00 Color Good Solid Accumulated Depeccatum Warcs trupene 11,000 Aceh 0 Anti Espone Dividend Dared 5,00 Resepte Diverselle ECRL had these transactions during January 2021, the last month of ECRL's fiscal year: 1. C. pwwtime for sing 100 1 financing the balance manas payable at the needs 12 mertebesten the said the first day of every month Monte BCRL determined the track will have all life of fire you and area of 570.00 1 BCR, paid for policy on them for the petrol Jay December 21,2001 The cryp, in credit, in 13.000 12 Newfounded by News Recycling mati ECRL Terbury L. 01. IL. 23. In het NUCL 540 the few's fees the Made 378 of which we les case. The cost to ECRL 551.500 31 Rosed by mpc during the 50.000 wid 31 Ovde sex white by the board recorded in the 31 5.000 euro 2001 ECRL also needed to record adjusting entries dated January 31. for the following They contingut The cated to see you The wyreinted to the deprecies new di The easy for pencinte all the equipame foshe year in the cent of lel Texty to the thelle The 512,700 of the camera beddeghe Required: Using the Q-T approach discussed in class, prepare the following: Q-T sheet showing how the above transactions are recorded Income statement Statement of financial position - A brief commentary one paragraph) on ECRL'S performance sition at the end East Coast Recycling Ltd. (ECRL) is a Newfoundland -based company specializing in the collection and reprocessing of glass and plastic drinking containers. The company also has a retail component, selling composting and recycling products. ECRL was founded in 2018 and has positioned itself as a leading company in its field. The company's year end is January 31. Please ignore all taxes (income and sales tax) in preparing your answer ECRL had the following account balances at December 31, 2020: Cash $9,000 Uneamed Revenge SN1.000 Accounts Receivable 100.000 Common Shares 85.000 Inventory 135.000 Retained Earnings 131,000 Supplies 12.000 Sales Revenge 983.000 Equipment 235.000 Cost of Goods Sold 530,000 Accumulated Depreciation Equipment 10.000 Wages Expense 131.000 Accounts Payable 79.000 Advertising Expense 30.000 Dividends Declared R900 Rent Expense 33.000 Dividends Payable 3.900 ECRL had these transactions during January 2021, the last month of ECRL's fiscal year: Jan ECRL purchased a new collection track for $306,000, paying S106,000 cash and 1 financing the balance using a sete payable at 99 per annum. The note payable is due in 12 months, but interest on the note must be paid on the first day of every month. Management of ECRL has determined that the truck will have a useful life of five years and a residual value of S70.200 1 ECRL paid $2.880 for an insurance policy on the new track for the period January 1 10 December 31, 2021 5 The company purchased on credit, inventory at a cost of $13,000 12 Newfoundland University (NU).ce of ECRL'argest customers, signed a new glass recycling contract with ECRL The contract runs from February 1, 2021. to January 31. 2022. In accordance with the terms of the contact, NU paid ECRL 54.600, representing the first month fos under the contract 18 Mode $75.690 in sales of compost is, of which one-third was on account and the balance was cash. The cost to ECRL of the bin soll was $51.500 31 Recorded wapes canned by employees during the month of 552,000, of which $26.000 wered 31 ECRI paid dividends in the amount of $8.900, which had been declared by the board and recorded in the accounts in December 2020 31 Paid $3,000 rent for the month of January 2021 ECRL also needed to record adjusting entries dated January 31, for the following: (a) The entry to recognize that supplies conting 32.000 remained on hand at the end of the (b) The entry related to its insurance expense for the policy on the new truck. (c) The entry related to the depreciation of new track (d) The entry for depreciation of the equipment for the year in the amount of $59.500 (e) The entry related to the interest on the sole puyable The entry to recognise that $12.700 of the uncared revenge had been earned during the month of January