this is one question!!!!

C46 Recording Posting Transactions and Adjustments, and Preparing Trial Balances and Financial Statements-Requires Calculating Depreciation and Interest (Chapters 2, 3, and 4 LO 23. 33, 42 44 Fast Deliveries. Ine. (FDH), was ormani red in December last year and had tinked activity last year. The resulting balance sheet at the beginning of the current year is provided below FAST DELIVERIES, INC. Balance Sheetal January 1 Awes Cash Liabilities $10.900 Accounts Payable 800 Stock Equity $ 500 Accounts Receivable Supplies 400 Common Stock 11.000 Retained Earnings 600 Total Assets 512.100 Total Liabilities and Stockholders' Equity SI 2.100 2 2 2 3 2 4 2 5 Two employees burve been hived, at a monthly salary of 52.700 each. The following transactions occurred during January of the current feat. For your reference, the chapter to which each event relates is indicated in the first come Ch Juma 2 1 $5.700 is paid for 12 months insurance starting Jay. (Records anset.) 54.200 is paid for 12 months of rent beginning January (Record is an asset) FDI borrows $30.000 cash from First State Bank at 6 percent annual interest this note in payable in two years A delivery van is purchased using cath. Inchiding tax, the total cost was $24.000 Stockholders contribute $5,000 of additional cash to FDI for its common stock 2 6 Additional supplies costing $1.000 are purchased a secount and received. 7 5600 of accounts receivable arising from last year's December sales are collected 2 5400 of accounts payable from December of last year we paid 3 Performed services for customers on account Sent invoices totaling 510.400 57.600 of services are performed for customers who paid immediately in cash 3 10 $7.600 of service we performed for customers who paid imediately in cash 16 $2.200 of tees are paid for the first full of the month 3 20 FDt receives $2.500 cash from a customer for an advance order for services to be provided later in January and in February 25 S4.500 las collected from customers on account (hee January 9 transaction) 2 3 1 10 2 4 4 4 4 4 a Janary Additional information et desting entries: 4 Bla. A$1.200 bill arrives for January unity services. Pement is due February 15 316. Supplies on hand on January 31 we counted and determined to have com 5350 Ble. As of January 31, FDI had completed 60 percent of the deliveries for the customer who paid in advance on laay 20 310. Accrue one month of interest on the bank loan Yenty interest is determined by multiplying the amount borrowed by the annual interest rate expressed as 0.06). For comience calculate January interest as one twelfth of the annual interest Ble. Assume the van will be used for four years after which it will have the tach year, fourth of the van's benefits will be used up, which implies anual depreciation equal to one fourth of the man's total cost Record depreciation for the mouth of January equal to one of the depreciation expense 31. Salaries earned by employees for the period from January 16-1 me 5L100 per employee and will be paid on February 3. 31. Mjus the prepaid et couts for rent and instance) as teeted. Required: L. Record journal entries for the transactions that occurred from day 1-25 2. If you are completing this problem aty, set up Taccounts using the beginning balances shown in the January 1 balance sheet post the transactions from requirement and prepare an asterial balance at Jl. 1 you are completing this problem in Connect using the peneral lediger tool, this requirement will be completed for you. 3. Using the given information record all adjusting journal entries seeded at ay 3L more income 4. If you are completing this problem many post the adjusting journal entries from rent into accounts and prepare an adjusted trial balance. If you are completing this problem in Connecting the general ledges tool this regaitement will be completed for you 5. Prepare an income statement and statement of retained earnings for the oth ended January 31, and prepare a classified balance sheet at January 31 4 1. Record journal entries for the transactions that counted from onary - 25 Jan. 1) 2) 3) 5) 7) 8) 9) 10) 16) 20) 25) 2. If you are completing this problem manually, set up Tacconets using the beginning balances shown in the January 1 balance sheet post the transactions from requirement and prepare an adjusted trial balance Day Cash Accounts Receivable Supplies Prepaid Insurance Beg. 10,900 Beg. 800 Beg. 400 Beg Prepaid Rent Beg, 0 Vehicle 0 Acc. Depreciation 0 Beg Beg Accounts Payable 500 Beg Deferred Revenue o Beg Notes Payable (long-term) 0 Beg Interest Payable 0 Beg Salaries and Wages Payable O Beg Common Stock 11,000 Beg Retained Earnings 600 Beg Service Revenue Salaries and Wages Expense Beg 0 Utilities Expense Beg. 0 Supplies Expense O Beg Beg 0 Interest Expense Beg Insurance Expense Beg 0 Rent Expense Beg 0 Depreciation Expense Beg 0 Credit FAST DELIVERIES, INC. Unadjusted Trial Balance January 31 Account Titles Debit Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Vehicle Accumulated Depreciation Accounts Payable Deferred Revenue Notes Payable (long-term) Salaries and Wages Payable Interest Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Interest Expense Totals 3. Using the given information reced all adjusting journal entries needed at Jay J1. sore income taxes Jan. 31a) 31b) 310) 31d) 310) 311) 319) 4. If you are completing this problem manually. post the adjusting ooriat entries from requirement into accounts and prepare an djusted trial balance Cash Accounts Receivable Supplies Prepaid Insurance Bal. 26,600 Bal. 6.100 Bal. 1,400 Bal. 5,700 Adj Adj. Prepaid Rent Bal. 4,200 Vehicle Bal. 24.000 Acc. Depreciation 0 Beg Adi Adi- Accounts Payable 1,100 Bal. Deferred Revenue 3,500 Bal Notes Payable (long-term) 30.000 Bal Interest Payable 0 Beg Adi Adj. Adi Salaries and Wages Payable O Beg Common Stock (SE) 17.000 Bal. Retained Earnings (SE) 600 Bal. Adj. Service Revenue (R) 18,000 Bal. Salaries and Wages Expense (E) Bal. 2,200 Utilities Expense (E) Beg 0 Supplies Expense (E) 0 Beg Adj. Adj Adj. Adj. Interest Expense (E) Beg 0 Insurance Expense (E) Beg 0 Rent Expense (E) 0 Beg Depn. Expense (E) Beg 0 Adj Adj Adj. Adj. Credit FAST DELIVERIES, INC. Adjusted Trial Balance January 31 Account Titles Debit Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Vehicle Accumulated Depreciation Accounts Payable Deferred Revenue Salaries and Wages Payable Interest Payable Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Utilities Expense Supplies Expense Depreciation Expense Insurance Expense Rent Expense Interest Expense Totals 5. Prepare an income statement and statement of retained earnings for the month ended January 31, and prepare a classified balance sheet at January 31