Hi the photos ive uploaded says all the question and information needed to solve the question. Thanksproblem one that is shown in the first picture is referring to the second photo ive uploaded in order to work on the question, hope this will make it easier for you to answer Assignment FiveThere is only one problem for this assignment: P4.5 on page 4-50; however, incorporate thefollowing modifications:• Ignore GST and income taxes.• Use $ instead of Euro.• Narrations in the journal are not required, but cross-referencing in both the journal andledger is required.• Add the following event for 1 July: borrowed $10,000 from the bank at a 6% annualinterest rate; the loan is due in 15 months, but the interest is payable quarterly. Forthis event, add the following accounts to the general ledger: No. 600 InterestExpense; No. 220 Interest Payable; and No. 230 Loan Payable.• A worksheet is not required, but a trial balance, an adjusted trial balance, and a post-closing trial balance are required.• For Instruction e., you also should consider if the loan discussed above requires anAJE, and if it does, include the AJE with the others required by Instruction e.Also for Instruction e., add the following event: The bank informs the business thatinterest revenue of $30 for July will be credited to the company's bank account on 1August. For this event, add the following accounts, if necessary, to the general ledger:No. 115 Interest Receivable and No. 410 Interest Revenue.• For Instruction d., prepare a Statement of Comprehensive Income and a Balance Sheetin the form and format required in this course. You do not have to prepare a separateStatement of Retained Earnings.• Prepare a residual analysis, including accounts debited and credited, to explain the AJErequired for the data contained in Instruction c. 5. (the employees' salaries data).Please submit the adjusting journals (problem 1(e) only) as your online submission. Complete all steps in accounting cycle.P4.5 (LO 1, 2, 4) Anya Clark opened Anya's Cleaning Service on July 1, 2020. During July, the follow-ing transactions were completed.July 1 Shareholders invested €20,000 cash in the business in exchange for ordinary shares.I Purchased used truck for €12,000, paying €4,000 cash and the balance on account.3 Purchased cleaning supplies for €2,100 on account.Paid €1,800 cash on a l-year insurance policy effective July 1.125Billed customers €4,500 for cleaning services.18 Paid €1,500 cash on amount owed on truck and €1,400 on amount owed on cleaning supplies.Paid €2,800 cash for employee salaries.Collected €3,400 cash from customers billed on July 12.252021Billed customers €6,000 for cleaning services.31Paid €350 for the monthly gasoline bill for the truck.31 Declared and paid a €5,600 cash dividend.The chart of accounts for Anya's Cleaning Service contains the following accounts: No. 101 Cash,No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No.158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and WagesPayable, No. 311 Share Capital-Ordinary, No. 320 Retained Earnings, No. 332 Dividends, No. 350Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense,No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense.Instructionsa. Journalize and post the July transactions. Use page J1 for the journal and the three-column form ofассоunt.b. Prepare a trial balance at July 31 on a worksheet.c. Enter the following adjustments on the worksheet and complete the worksheet.1. Unbilled and uncollected revenue for services performed at July 31 were €2,700.b. Trial balance €37,700c. Adjusted trial balance€41,9002. Depreciation on equipment for the month was €500.Comprehensive Accounting Cycle Review 4-513. One-twelfth of the insurance expired.4. An inventory count shows €600 of cleaning supplies on hand at July 31.5. Accrued but unpaid employee salaries were €1,000.d. Prepare the income statement and a retained earnings statement for July and a classified statementof financial position at July 31.d. Net income €6,900Total assets €34,300e. Journalize and post adjusting entries. Use page J2 for the journal.f. Journalize and post closing entries and complete the closing process. Use page J3 for the journal.g. Post-closing trial balance€34,800g. Prepare a post-closing trial balance at July 31.

Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

n needed to solve the question. Thanks problem one that is shown in the first picture is referring to the second photo ive uploaded in order to work on the question, hope this will make it easier for you to answer

n needed to solve the question. Thanks problem one that is shown in the first picture is referring to the second photo ive uploaded in order to work on the question, hope this will make it easier for you to answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Hello i have attached two pictures. They are both used together to answer the question. The first picture is the information to use too answer the question. The second attachment is the for the answer. I hope it is understandable and whoever answer this can please explain how they got the answers. I need the help. I have marked a yellow x on what i have done already. I DO NOT NEED HELP WITH WHAT IS CROSSED IN YELLOW (PARTS 1-3) I NEED PARTS 4-6. THIS IS IS IS THE ANSWER TO PARTS 1-3 Analysis and Calculation: 1) Gold Medal Athletic Co., Sales Budget: For the month ended March: Product Sales Volume Sale Price per unit Sales, $ Batting helmet 1,200 units $40 $ 48,000 Football helmet 6,500 units $160 $1,040,000 Total revenue from sales $ 1,088,000 2) Production Budget: Batting Football Helmet Helmet Expected units to be sold 1,200 6,500 Add: desired Ending inventory 50 220 Total 1,250 6,720 Less: Beginning estimated inventory 40 240 Total…
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