with t account create trial balance, income statement with multi step format, statement of changes equity and balance sheet and statement of statement of cash flows

all Equity Corman Stock SODOO BAI. 8 860 10000 50000 1 350000 50000 Retained Farmings 10000 401140 10000 Service Revenue 700000 Acc able 350000 70000 -- Uncollectible accou ............ 21000 350000 Allowance for doubt accounts 21000 21000 Depreciation 21000 3B 836 (836) 836 RES Equipment 8880 121,000 ALLOWANCE FOR DOUBTFULL UNCOLLECTABLE ACCOUNT Use the following information to answer the questions that follow. Sonte questions require additional computations. After doing the computation be sure to make the required entry ACC 211, Inc. is a company that resells pencils for accounting students. Beginning balances are as follows: Cash 10,000.00 Retained earnings 10,000.00 ACC 211 General Journal, 2015 Account title 4. ACC 211 bought equipment for $6,000 on Jannary Ist. The furniture had a 4% discount. Freight cost amounted to $1,600. ACC 211 had to hire a specialist to adjust the equipment before use. He paid the specialist $1,500. Insurance expense for the equipment was $500 annually. The equipment has a useful life of 10 years with salvage value of $500. The straight-line method was used as the method of depreciation. All of these expenses were paid in cash. AS 1. Acquired $50,000 from the issue of common stock Type AS/AF/AU/CE CASH COMMON STOCK 50000 50000 Type AS/AE/AU/CE 5a. Record in general journal format the acquisition of the furniture 5a. T EQUIP CASH 2. ACC 211 won a big contract with the state to service all pencils in the department. They are required to come in each morning to sharpen each worker's pencil. The state ppid ACC 211 $350,000 cash for work completed during the year and promised to pay the balance of $350,000 in the coming year Record in general journal format the depreciation expense for the first year using straight 5b. DEPRECIATION EQUIP Type AS/AE/AU/CE CASH RECEIVABLES SERVICE REVENUE AS 350.000 350,000 100.000 Sc. Record in general journal format, any expenses not capitalized Type AS/AE/AU/CE INSURANCE EXPENSES ACCOUNT CASH 500 3. ACC 211 has noticed its accounts receivable balance is growing more than desired and some collection problems exist. It appears that uncollectible expense is approximately 3 percent of total credit sales. ACC 211 has decided that it will starting this year, adopt the allowance method of accounting for uncollectible accounts. ACC 211 uses an adjusting entry to recognize the uncollectible account expense on its credit sales to date. CE Type AS/AE/AU/CE