es The December 31, 2024, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Account Title Cash Accounts receivable. Prepaid rent Inventory Office equipment Accumulated depreciation Accounts payable Notes payable (due in six months) Salaries payable Interest payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals Debits $ 33,400 320,000 12,000 48,000 580,000 438,000 109,500 36,000 58,000 3,600 4,600 $ 1,643,100 Credits $ 242,000 68,000 54,000 7,300 1,800 400,000 140,000 730,000 $ 1,643,100 Required: 1-a. Prepare an income statement for the year ended December 31, 2024. 1-b. Prepare a classified balance sheet as of December 31, 2024. 2. Prepare the necessary closing entries on December 31, 2024. www

es The December 31, 2024, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Account Title Cash Accounts receivable. Prepaid rent Inventory Office equipment Accumulated depreciation Accounts payable Notes payable (due in six months) Salaries payable Interest payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals Debits $ 33,400 320,000 12,000 48,000 580,000 438,000 109,500 36,000 58,000 3,600 4,600 $ 1,643,100 Credits $ 242,000 68,000 54,000 7,300 1,800 400,000 140,000 730,000 $ 1,643,100 Required: 1-a. Prepare an income statement for the year ended December 31, 2024. 1-b. Prepare a classified balance sheet as of December 31, 2024. 2. Prepare the necessary closing entries on December 31, 2024. www

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 13PB: Following is the adjusted trial balance data for Garage Parts Unlimited as of December 31, 2019. A....

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