Question: Please help it's long but its multiple problems in one Required information [The following information applies to the questions displayed below. ] Crimson Tide Music

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Please help it's long but its multiple problems in one










Required information [The following information applies to the questions displayed below. ] Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unanjiustedtrial balance as of December 31. 2021, appears below. December 31 is the company's scal year-end. Accounts Debits credits Cash $ 44,300 Accounts Receivable 12,900 Interest Receivable 0 Supplies 5,400 Prepaid Rent 10,600 Land 112,000 Notes Receivable 54,000 Accounts Payable $ 12,800 Salaries Payable 0 Deferred Revenue 7,000 Utilities Payable 0 Common Stock 157,200 Retained Earnings 24,800 Service Revenue 76,200 Interest Revenue 0 Salaries Expense 33,000 Rent Expense 0 Supplies Expense 0 Utilities Expense 5,800 Totals $278,000 $278,000 In addition, the company had the following year-end adjusting entries. Debits Credits Salaries Expense 3,300 Salaries Payable 3,800 Interest Receivable 2,500 Interest Revenue 2,500 Supplies Expense 3,000 Supplies 3,000 Deferred Revenue 5,000 Service Revenue 5,000 Rent Expense 7,100 Prepaid Rent 7,100 Utilities Expense 1,900 Utilities Payable 1,900 1., 2. & 6. Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts. Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. Supplies Interest Receivable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. Prepaid Rent Land Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Notes Receivable Accounts Payable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Salaries Payable Utilities Payable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Deferred Revenue Common Stock Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0\f3. Prepare an adjusted trial balance. Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals 4. Prepare an income statement, statement of stockholders' equity, and classified balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. In me Stmt of Statcgment Stockholders Balance Sheet Equity Prepare an income statement for the year ended December 31, 2021. Revenues: Total Revenues Expenses: Total Expenses Stmt of Stockholders Equity > 4. Prepare an income statement, statement of stockholders' equity, and classified balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. Income Stmt of Statement Stockholders Balance Sheet Equity Prepare a statement of shareholders' equity for the year ended December 31, 2021. Assume that no common stock is issued during the year. CRIMSON TIDE MUSIC ACADEMY Statement of Stockholders' Equity For the Year Ended December 31, 2021 Retained Total Common Stock Earnings Stockholders' Equity Balance at January 1 Balance at December 31 4. Prepare an income statement, statement of stockholders' equity, and classified balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. Income Stmt of Statement Stockholders Balance Sheet Equity Prepare a classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) CRIMSON TIDE MUSIC ACADEMY Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Assets 0 Total Current Liabilities 0 Long-term Assets: Stockholder's Equity 0 Total Stockholders' Equity Total Assets $ 0 Total Liabilities and Stockholders' Equity $ 0 5. Record closing entries. Be sure to post these entries to the T-accounts at Part 1 of this problem. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account eld.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. December 31. Record entry Clear entry View general journal 5. Record closing entries. Be sure to post these entries to the T-accounts at Part 1 of this problem. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet
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