Question: Please help with the full question (year 2) Required information [The following information applies to the questions displayed below.] The following transactions apply to Walnut

Please help with the full question (year 2)

Required information

[The following information applies to the questions displayed below.] The following transactions apply to Walnut Enterprises for Year 1, its first year of operations:

  1. Received $43,000 cash from the issue of a short-term note with a 4 percent interest rate and a one-year maturity. The note was made on April 1, Year 1.
  2. Received $121,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 8 percent.
  3. Paid $70,500 cash for other operating expenses during the year.
  4. Paid the sales tax due on $101,000 of the service revenue for the year. Sales tax on the balance of the revenue is not due until Year 2.
  5. Recognized the accrued interest at December 31, Year 1.

The following transactions apply to Walnut Enterprises for Year 2:

  1. Paid the balance of the sales tax due for Year 1.
  2. Received $146,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 8 percent.
  3. Repaid the principal of the note and applicable interest on April 1, Year 2.
  4. Paid $83,500 of other operating expenses during the year.
  5. Paid the sales tax due on $121,000 of the service revenue. The sales tax on the balance of the revenue is not due until Year 3.

(For all requirements, round your intermediate and final answers to the nearest whole dollar amount.)

f-1. Record the Year 2 transactions in general journal form. f-2. Post the Year 2 transactions to T-accounts. f-3. Prepare an income statement for Year 2. f-4. Prepare a statement of changes in stockholders equity for Year 2. f-5. Prepare a balance sheet for Year 2. f-6. Prepare a statement of cash flows for Year 2. f-7. Prepare closing entries for Year 2. f-8. Post the Year 2 closing entries to T-accounts. f-9. Prepare a post-closing trial balance for Year 2.

Please help with the full question (year 2) Required information [The followinginformation applies to the questions displayed below.] The following transactions apply toWalnut Enterprises for Year 1, its first year of operations: Received $43,000cash from the issue of a short-term note with a 4 percentinterest rate and a one-year maturity. The note was made on April1, Year 1. Received $121,000 cash plus applicable sales tax from performingservices. The services are subject to a sales tax rate of 8percent. Paid $70,500 cash for other operating expenses during the year. Paidthe sales tax due on $101,000 of the service revenue for the

Post the Year 2 transactions and closing entries to T-accounts. Prepare a statement of changes in stockholders' equity for Yea Prepare an income statement for Year 2. Journal entry worksheet Record the closing entry for service revenue. Note: Enter debits before credits. Drenare a atatement of rach flowa for Year? (Fnter rach nutflowa and a Journal entry worksheet Record the closing entry for expenses. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Record the Year 2 transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry requi in the first account field.) Complete this question by entering your answers in the tabs below. Prepare a post-closing trial balance for Year 2. Prepare a balance sheet for Year 2

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