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fiasKO [112]
3 years ago
12

On January 1, 2021, Red Flash Photography had the following balances: Cash, $17,000; Supplies, $8,500; Land, $65,000; Deferred R

evenue, $5,500; Common Stock $55,000; and Retained Earnings, $30,000. During 2021, the company had the following transactions:
1. February 15 Issue additional shares of common stock, $25,000.
2. May 20 Provide services to customers for cash, $40,000, and on account, $35,000.
3. August 31 Pay salaries to employees for work in 2021, $28,000.
4. October 1 Purchase rental space for one year, $17,000.
5. November 17 Purchase supplies on account, $27,000.
6. December 30 Pay dividends, $2,500.
The following information is available on December 31, 2021:
Employees are owed an additional $4,500 in salaries.
Three months of the rental space has expired.
Supplies of $5,500 remain on hand.
All of the services associated with the beginning deferred revenue have been performed.
required:
1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.
2. Record the adjusting entries in the 'General Journal' tab.
3. Review the adjusted 'Trial Balance' as of December 31, 2021.
4. Prepare an income statement for the year ended December 31, 2021, in the 'Income Statement' tab.
5. Prepare the statement of Stockholder's Equity for the year ended December 31, 2021, in the 'Income Statement' tab.
6. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab.
7. Record the closing entries in the 'General Journal' tab.
Business
1 answer:
Sophie [7]3 years ago
7 0

Answer:

izts 16 56 to the 8th semester of October and November watching the dirt

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a. How much gross income does Duc have from the contract in the current year?

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3 years ago
a system has two processes and three identical resources. each process needs a maximum of two resources. is deadlock possible? e
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A system has two processes and three identical resources. each process needs a maximum of two resources.---<u> Deadlock is not possible</u>.

<h3>What's deadlock explain?</h3>

A deadlock is a situation in which two computer programs participating the same resource are effectively precluding each other from penetrating the resource, performing in both programs ending to serve. The foremost computer operating systems ran only one program at a time.

<h3>What happens in deadlock?</h3>

Deadlock is a situation where a set of processes are blocked because each process is holding a resource and staying for another resource acquired by some other process

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