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I Just need the financial statements part!

 GLOBAL DESIGNERS INC
TRIAL BALANCE
AS AT 1/31/2016
UNADJUSTED
BAL (DR) BAL (CR)
CASH $ 375,000
ACCOUNTS RECEIVABLE $ 75,000
ACCRUED REVENUES $ -
MACHINERY $ 120,000
ACCUMULATED DEPRECIATION $ -
PREPAID RENT $ 12,000
ACCOUNTS PAYABLE $ 60,000
ACCRUED EXPENSES $ -
UNEARNED REVENUES $ 30,000
BANK LOAN $ 200,000
CAPITAL $ 208,000
REVENUES $ 390,000
PURCHASES $ 300,000
TELEPHONE $ 6,000
SALARIES EXPENSE $ -
DEPRECIATION EXPENSE $ -
RENT EXPENSE $ - $ -
TOTAL $ 888,000 $ 888,000
ADJUSTMENTS NEEDED:
1 PREPAID RENT INCLUDES JAN RENT OF $6,000 AND FEBRENT OF $6000
2 THE COMPANY EARNED $15,000 OF THE UNEARNED REVENUESIN JANUARY 2016
3 THE MACHINERY HAS USEFUL LIFE OF 60 MONTHS
4 THE COMPANY OWED $25,000 IN SALARIES AS AT1/31/2016
5 THE COMPANY SUPPLIED $30,000 OF GOODS TO MACYS BUTDID NOT BILL AS AT 1/31/2016
PLEASE PREPARE ADJUSTING JOURNAL ENTRIES, ADJUSTEDTRIAL BALANCE AND FINANCIAL STATEMENTS

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Tod Thiel
Tod ThielLv2
28 Sep 2019

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1. On the “AJE” worksheet, prepare the adjusting journal entriesin good form for the following items. Identify each entry by letterin Column B. Round all answers to the nearest dollar. You may omitexplanations. Leave a blank row between each journal entry. All theaccounts you need are given on the worksheet. Use only theseaccounts. Prepare journal entries and financial statements for theyear ended December 31, 2017. No adjusting entries have been madesince December 31, 2016. Do not use "Cash" account only onebalance sheet account and one income statementaccount.

d. Store supplies totaling $14,800 were purchased during theyear and were immediately expensed. A physical count of the storesupplies on hand December 31, 2017, indicates a balance of$2,100.

The entry im asking you to make IS the adjustingentry.

This is the only other information i have!

Grizzlies,Inc.
Worksheet
For the Year Ended December31, 2017
Unadjusted Adjusted
Trial Balance Adjustments Trial Balance Income Stmt Balance Sheet
Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 36,000
Accounts Receivable 277,000
Inventory 242,500
Prepaid Insurance 11,200
Prepaid Rent 3,000
Store Supplies -
Shop Supplies 7,500
Store Equipment 120,000
Accumulated Depreciation - StoreEquipment 13,200
Office Equipment 32,000
Accumulated Depreciation - OfficeEquipment 2,550
Accounts Payable 49,000
Salaries Payable
Interest Payable
Utilities Payable
Unearned Consulting Revenue 14,000
Unearned Rent Revenue 16,800
Note Payable 18,000
Common Stock 300,000
Retained Earnings 189,350
Dividends 12,800
Sales Revenue 1,576,150
Consulting Revenue
Rent Revenue
Interest Revenue
Cost of Goods Sold 975,000
Sales Salaries Expense 275,000
Office Salaries Expense 150,000
Miscellaneous Administrative Expense 5,650
Miscellaneous Selling Expense 13,900
Depreciation Expense - StoreEquipment
Depreciation Expense - OfficeEquipment
Store Supplies Expense 17,500
Shop Supplies Expense
Rent Expense
Insurance Expense
Interest Expense
Utilities Expense-Store
Utilities Expense-Office
2,179,050 2,179,050

Terrific Temps fills temporary employment positions for localbusinesses. Some businesses pay in
advance for services; others are billed after services have beenperformed. Advanced payments are
credited to an account entitled Unearned Fees. Adjusting entriesare performed on a monthly basis.
An unadjusted trial balance dated December 31, 2015, follows. (Bearin mind that adjusting entries
have already been made for the first 11 months of 2015, but not forDecember.)


TERRIFIC TEMPS
UNADJUSTED TRIAL BALANCE
DECEMBER 31, 2015
Cash $ 27,020
Accounts receivable 59,200
Unexpired insurance 900
Prepaid rent 3,000
Office supplies 600
Equipment 60,000
Accumulated depreciation: equipment $ 29,500
Accounts payable 4,180
Notes payable 12,000
Interest payable 320
Unearned fees 6,000
Income taxes payable 4,000
Unearned revenue 20,000
Retained earnings 49,000
Capital stock 25,000
Dividends 3,000
Feesearned 75,000
Travel expense 5,000
Insurance expense 2,980
Rentexpense 9,900
Office supplies expense 780
Utilities expense 4,800
Depreciation expense: equipment 5,500
Salaries expense 30,000
Interest expense 320
Income taxes expense 12,000
$ 225,000 $ 225,000

Other Data
1. Accrued butunrecorded fees earned as of December 31, 2015, amount to$1,500.
2. Records showthat $2,500 of cash receipts originally recorded as unearned feeshad been earned as of December 31.
3. The companypurchased a six-month insurance policy on September 1, 2015, for$1,800.
4. On December 1,2015, the company paid its rent through February 28, 2016.
5. Office supplieson hand at December 31 amount to $400.
6.

All equipment was purchased when the business first formed. Theestimated life of the equipment at that time was 10 years (or 120months).
7.

On August 1, 2015, the company borrowed $12,000 by signing asix-month, 8 percent note payable. The entire note, plus sixmonths' accrued interest, is due on February 1, 2016.
8. Accrued butunrecorded salaries at December 31 amount to $2,700.
9. Estimated incometaxes expense for the entire year totals $15,000. Taxesare due in the first quarter of 2016.

Instructions
a. For each of thenumbered paragraphs, prepare the necessary adjusting entry.(If no entry is required for a transaction/event, select"No journal entry required" in the first accountfield.)

Journal Entry Worksheet

Record the accrued but uncollected fees earned.

Record fees earned as of December 31st.

Record the December insurance expense.

Record the December rent expense.

Record the offices supplies used in December.

Record the December depreciation expense.

Record the interest accrued in December.

Record the salaries accrued in December.

Record the income taxes accrued in December.

Date GeneralJournal Debit Credit
Dec. 31

*Enter debits before credits

1. Fees earned
2. Travel expense
3. Insurance expense
4. Rent expense
5. Office supplies expense
6. Utilities expense
7. Depreciation expense: equipment
8. Interest expense
9. Salaries expense
10. Income taxes expense
. The unadjusted trial balance reportsdividends of $3,000. As of December 31, 2015, have these dividendsbeen paid?
Yes
No

Czar was authorized to issue 3,000,000 shares of $1 par Common Stock but has only issued 520,000 shares of common stock as of 12/31/2018. No new shares were issued during 2018.

1. On the “Adjusting Journal Entries” worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information. All information was provided to you as of 12/31/2018. (Round all numbers to the nearest dollar). Label journal entries a through t.

P- On 2,1, 2018, Czar rented a portion of one store to Pellston Inc. The contract was for 15 months and Czar required all of the cash up front. The rent is being earned equally each month. This is the only item in which rent is being earned by the company.

Q- Czar started to lease some new retail space in 2018 and added shelving and fixtures to this leased space. Based on your review of invoices, the previous accountant capitalized the cost of fixtures but did not capitalize the shipping and installation costs of $2,815. These costs were expensed and recorded as a miscellaneous selling expense. Czar has decided to use double declining balance (DDB) depreciation for this item and to take a full year of depreciation in the year of acquisition. The leasehold improvements have a useful life of 15 years with a salvage value of $12,000.

R- Czar uses the FIFO Inventory Method in valuing inventory. The inventory balance of $340,000 was based on a physical count at 12/31/2018. Based on your analysis, you have noted that $10,000 of marketing games that belonged to Pellston Inc. was included in the account. You also note that $5,600 of goods shipped to Czar f.o.b. destination were in transit on December 31, 2018 and included in the physical count.

Czar Incorporated
End of Period Worksheet
For the Year Ended December 31, 2018
Unadjusted Adjusted
Account Title Trial Balance Adjustments Trial Balance
DR CR DR CR DR CR
Cash 264,000 -
Accounts Receivable 555,984 -
Allowance for Doubtful Accounts - 13,600
Interest Receivable - -
Merchandise Inventory 340,000 -
Prepaid Insurance - -
LIFO Reserve - 25,600
Prepaid Advertising - -
Prepaid Rent 13,600 -
Office Supplies 4,800 -
Note Receivable 20,000
Available for Sale Securities 300,000 -
Office Building 3,000,000 -
Accumulated Depreciation - Office Building - 70,000
Storage Building 1,020,000 -
Accumulated Depreciation - Storage Building - -
Land 600,000 -
Leasehold Improvements 180,000 -
Accumulated Depreciation - Leasehold Improvements - -
Office Equipment 260,000 -
Accumulated Depreciation - Office Equipment - 52,000
Patent 120,000 -
Accounts Payable - 276,000
Sales Tax Payable - -
Salaries Payable - 113,600
Payroll Taxes Payable - 20,000
Interest Payable - -
Income Tax Payable - -
Unearned Rent Revenue - -
Loan Payable - First Trust - 520,000
Loan Payable - Coldwell Bank - 1,600,000
Common Stock - 520,000
Additional Paid in Capital - 1,599,000
Retained Earnings - 736,000
Accumulated Other Comprehensive Income - 20,000
Dividends 67,800 -
Sales - 3,622,560
Sales Returns and Allowances 33,800 -
Sales Discounts 15,400 -
Cost of Goods Sold 1,583,600 -
Sales Salaries Expense 349,120 -
Office Salaries Expense 219,200 -
Advertising Expense 12,800 -
Depreciation Expense - Office Building -
Depreciation Expense - Leasehold Improvements - -
Depreciation Expense - Office Equipment - -
Leasing Expense - Stores 105,600 -
Miscellaneous Selling Expense 18400 -
Research & Development Expense 12,000
Rent Expense - Storage Facility - -
Insurance Expense 12,000 -
Office Supplies Expense 28,000 -
Miscellaneous Administrative Expense 7,336 -
Rent Revenue - 60,000
Interest Revenue on Note Receivable - -
Dividend Revenue on AFS Securities - 20,000
Interest Expense - -
Bad Debt Expense 28,000 -
Amortization Expense - -
Income Tax Expense - -
Payroll Taxes Expense 96,920 -
Rebate Expense - -
Unrealized holding loss - -
Depreciation Expense-Storage Building - -
Loss on Impairment - -
Rebate Liability - -
Restricted Cash for Future Expansion - -
9,268,360 9,268,360

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