please solve all of these problems as soon as possible. ? | |4e.. ler ! | | Aria

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please solve all of these problems as soon as possible.

? | |4e.. ler ! | | Arial , lur .2.2L- %-1 :Elle ·®. % , ral Tab 1 The Groomed Gorilla Salon, Inc The Groomed Gornia salon, Inc was formed January 1,2017. The current date is December 31, 2018 The company has just completed its' second year of operations Instructions ou have been hired by the company to record transactions and prepare financial statements for the year ended December 31, 2018 Eollow the 12 steps in the Accounting Cycle (see below), using the tabs in this Excel workbook. Complete the Excel workbook template 1 Analyze and re cord transactions in journal (Journal Entries) (See Tab 3&4) Post journal entries trom journal to ledger (book of accounts), and calculate new balance for each account in the ledger. (See Tab 7) 3 Prepare an Unadjusted Trial Balance (isting of account balances in debit and credit columns, total debits must equal total credits) (See Tab 8) Post adjusting journal entries from journal to ledger (book of accounts), and calcuiate new balance for each account in the ledger. (See Tab 7) 5 6 Prepare an Adjusted Trial Balance (listing of account balances in debit and credit columns, total debits must equal total credits). (See Tab 8) 9) Prepare the Statement of Retained Earnings (See Tab 10) 8 9 Prepare the Balance Sheet using balances from the Adjusted Trial Balance (for Retained Earnings, use the balance calculated on the Statement of Retained Eamings). (See Tab 11) for the amount of their debit balance, credit Retained Earnings for the amount of Net income ) (See Tab 6) 11 Post closing entries from jounal to ledger and calculate new balances. All revenue and expense accounts should now be zero and the retained earnings account will be increased by the amount of net income. (See Tab 7) 12 Prepare a Post-Closing Trial Balance (isting of account balances in debit and credit columns, total debits must ual total credits) (See Tab 8) by RJ Casev Tab 1. Instructions Tab 2. Chart of Accounts Tab 3 Transactions 1 Tab 4 JE Template |Tab 5

Explanation / Answer

1. In the books of The Groomed Gorilla Salon Inc.:

2. Cash:

Supplies:

Accounts Payable:

Unearned Revenue:

3.

4. Adjusting Entries :

Transaction / Event Account Name Debit Credit $ $ 1. Cash 610,000 Service Revenue 610,000 2. Cash 10,000 Unearned Revenue 10,000 3. Supplies 243,000 Accounts Payable 243,000 4. Accounts Payable 236,000 Cash 236,000 5. Wages Expense 326,000 Cash 326,000 6. Rent Expense 25,200 Cash 25,200 7. Utilities Expense 12,300 Cash 12,300

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