Question

View transaction list View journal entry worksheet Date Account Title Credit No 1 Debit 33 000 Feb 15 Cash Common Stock 33.000 2 May 20 Cash Accounts Receivable Service Revenue 48.000 43.000 91.000 Aug 31 36.000 Salaries Expense Cash 35.000 4 Oct 01 25.000 Prepaid Rent Cash 25.000 5 Nov 17 35.000 Supplies Accounts Payable 35.000 Dec 30 Dividends 3.300 Cash 3.300 7 Dec 31 5.300 Salaries Expense Salaris Payable 5.300 8 Dec 31 6.250 Rent Expense Prepaid Rent 6.250 9 Dec 31 38 000 Supplies Expense Supplies 38.000 10 Dec 31 6.300 Deferred Revenue Service Revenue 6.300 11 Dec 31 97.300 Service Revenue Retained Earnings 97300 12 Dec 31 35 550 Retained Earnings Salaries Expense Rent Expense Supplies Expense 41,300 6.250 38.000 13 Dec 31 3.300 Rotanad Lamings Dividends 3.300

Please help me fill out these remaining charts on this problem. I have no idea what to put

Answer 1

RED FLASH PHOTOGRAPHY Adjusted Trail Balance Dec 31,2021 Account Particulars Debit Credit Cash $ 41,700 Accounts Receivable $ 43,000 Supplies $ 6,300 Prepaid Rent $ 18,750 Land $ 73,000 Accounts Payable $ 35,000 Salaries Payable $ 5,300 Deferred Revenue $ Common Stock $ 96,000 Retained Earnings $ 38,000 Service Revenue $ 97,300 Supplies Expense $ 38,000 Salaries Expense $ 41,300 Rent Expense $ 6,250 Dividends $ 3,300 Total $ 271,600 $271,600 $ RED FLASH PHOTOGRAPHY Income Statement for year ended December 31,2021 Revenues: Service Revenue $ 97,300 Expenses: Supplies Expense $ 38,000 Salaries Expense $ 41,300 Rent Expense $ 6,250 Total Expenses $ 85,550 Net Income $ 11,750

RED FLASH PHOTOGRAPHY Statement of Stockholders' Equity For the months ended Dec 31,2021 Common Stock Retained Earnings Total SH Equity Balance at January 1 $ 63,000 $ 38,000 $ 101,000 Issue of Common shares $ 33,000 $ 33,000 Less: Net Income $ 11,750 $ 11,750 Less: Dividends $ 3,300 $ 3,300 Ending Balance $ 96,000 $ 46,450 $ 142,450 Assets Current Asset: Cash Accounts Receivable Supplies Prepaid Rent Total Current Asset 35,000 5,300 RED FLASH PHOTOGRAPHY Balance sheet As of January 31,2021 Liabilities and Current Liabilities: $ 41,700 Accounts Payable $ $ 43,000 Salaries Payable $ $ 6,300 $ 18,750 Total Current Liabilities $ $ 109,750 Total Liabiliities $ Stockholder's equity $ 73,000 Common Stock $ Retained Earnings $ Total Stockholders Equity $ $ 182,750 Total Liabilities and SHE $ 40,300 40,300 Long-term Assets: Land 96,000 46,450 142,450 182,750 Total Assets

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