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Question: i need help with income statement statement of retained...

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On December 1, Abington Campus Photography issued 10,000 shares of common stock to Ronnie Redd in exchange for $42,000 cash. Note: Enter debits before credits. Date Account Title Debit Credit Dec 01 Cash 42,000 Common stock 42,000

On December 1, Abington Campus Photography purchased photography equipment for $11,160 cash. Note: Enter debits before credits. Date Account Title Debit Credit Dec 01Photography equipment Cash 11,160 11,160

On December 1, Abington Campus Photography prepaid $2,500 for the first 2 months rent for their photography studio. The companys policy is to initially record prepaid expenses and unearned revenues in balance sheet accounts. Note: Enter debits before credits. Date Account Title Debit Credit Dec 01 Prepaid rent 2,500 Cash 2,500

On December 4, Abington Campus Photography received a $3,200 deposit (partial payment) from Kim Jong and Vince Molinari for their June wedding. The companys policy is to initially record prepaid expenses and unearned revenues in balance sheet accounts Note: Enter debits before credits. Date Account Title Debit Credit Dec 04 Cash 3,200 Photography revenue 3200

On December 9, Abington Campus Photography received $2,880 cash for full payment in advance from Edward Taylor for a late December photo shoot. te: Enter debits before credits. Date Account Title Debit Credit Dec 09 Cash 2,880 Unearned revenue 2,880

On December 12, Abington Campus Photography purchased $1,960 of photography supplies on account. ote: Enter debits before credits. Date Account Title Debit Credit 1,960 Dec 12Photography supplies Accounts payable

December 15, Abington Campus Photography performed photography rvices for a local church and billed the client $12,800. Enter debits before credits Date Account Title Debit Credit ec 15 Accounts receivable 12.800 Cash 12,800

December 18, Abington Campus Photography received its electric bill in the amount of $1,960. Payment is due on January 18. n tilities) : Enter debits before credits. Date Dec 18Utilities expense Account Title Debit Credit 1,960 1,9 Utilities payable

On December 28, Abington Campus Photography paid $800 on account. Note: Enter debits before credits. Date Account Title Debit Credit Dec 28 Accounts payable 800 Cash 800 Record entry

ssistants salary for December. e: Enter debits before credits. Date Account Title Debit Credi Dec 30 Salaries expense 1,200 Cash 1,2

n December 30, Abington Campus Photography paid a $1,500 cash dividend. : Enter debits before credits. Date Dec 30 Dividends Account Title Debit Credit 1,500 Cash 1500

8 10 19 Information for adjusting entries: The photography equipment purchased on December 1 has an estimated useful of of 3 years and no residual value. Prepare the adjusting entry to record depreciation for the month of December. Note: Enter debits before credits. Date Account Title Debit Credit Dec 31Depreciation expense Photography equipment 3,720 Accumulated depreciation - Photography equipment 3,720

Prepare the adjusting entry required for rent expired during December Note: Enter debits before credits. Date Account Title Debit Credit Dec 31 Prepaid rent 2,500 Cash 250

Prepare the adjusting entry to record revenue earned from the photo shoot for Edward Taylor. Taylor paid $2,880 in advance on December 9, and the service was completed late in December Note: Enter debits before credits. Date Account Title Debit Credit Dec 31 Unearned revenue 2,880 Cash 2 880

Apliysical count of phoborapty suplies indcaethat $3 of aupoies se o hand as of December 31. Prepare the required adjusting entry, if any. Note: Enter debits before credits. Date Account Title Debit Credit Dec 31Photography supplies 1,570 Cash

te: Enter debits before credits Date Account Title Debit Dec 31 Unearned revenue 18 880 Income summary

Prepare the entry to close the expense account(s) to Income summary Note: Enter debits before credits. Date Account Title Debit Credit Dec 31 Income summary 4,730 Utilities expense Salaries expense Photography supplies expense 1,960 1200 1,570

Prepare the entry to close income summary. ote: Enter debits before credits. Date Account Title Debit Credit Dec 31 Income summary 14,150 Retained earnings 14 150

Prepare the entry to Close te TOEnOs aocounu Note: Enter debits before credits. Date Account Title Debit Credit 1.500 Dec 31Retained earnings Cash

Account Title Debit 9,670 12,800 5,000 3.530 11,160 Cash Accounts receivable Prepaid rent Photography supplies Photography equipment Accumulated depreciation Photography equipment Accounts payable Utilities payable Unearned revenue Common stock Retained earnings Dividends Photography revenue Depreciation expense - Photography equipment Photography supplies expense Total 18,880 1,500 3,720 66,260 S

Income Statement For the month ended December 31, 2018 Revenues Unearned revenue (18,880) $ (18,880) 1,960 Utilities payable Salaries expense Photography supplies expense (1,570) 390 Total expenses

Post-closing Abington Campus Photography Statement of Retained Earnings For the month ended December 31 2018 Retained earnings, December 1, 2018 Add Net income ess Dividends Retained earnings, December 31, 2018 (1,500) $(1,500)

As of December 31, 2018 Liabilities Accounts payable Utilities payable 1,160 1,960 $ 3,120 otal liabilities Assets

I need help with income statement , statement of retained earnings, and balance sheet.. please and thank you

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