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Cash $50000\mathrm{.}00$

Baking Supplies $165250\mathrm{.}00$

Merchandise Inventory $25750\mathrm{.}00$

Prepaid Rent $7500\mathrm{.}00$

Prepaid Insurance $2400\mathrm{.}00$

Baking Equipment $26000\mathrm{.}00$

Accumlated Depreication $3000\mathrm{.}00$

Leasehold Depreciation $10000\mathrm{.}00$

Accumulated Amortization $2000\mathrm{.}00$

Trademark $2300\mathrm{.}00$

Office Supplies $1600\mathrm{.}00$

Accounts Receivable $30000\mathrm{.}00$

Notes Payable $10000\mathrm{.}00$

Interest Payable

Accounts Payable $26496\mathrm{.}00$

Wages Payable

Loans Payable $21000\mathrm{.}00$

Common Stock $25000\mathrm{.}00$

Dividends $20000\mathrm{.}00$

Bakery Sales $335675\mathrm{.}00$

Merchandise Sales $35200\mathrm{.}00$

Baking Cost of Golds Sold

Rent Expense $90000\mathrm{.}00$

Interest Expense

Insurance Expense

Depreciation Expense

Amortization Expense

Misc. Expense $2780\mathrm{.}00$

Office Supplies Expense

Business License Expense $375\mathrm{.}00$

Advertising Expense $5200\mathrm{.}00$

Wages Expense

Telephone Expense $3456\mathrm{.}00$

Merchandise COGS $15760\mathrm{.}00$

Total: $458371\mathrm{.}00458371\mathrm{.}00$ complete this following worksheet using all of the information provided, Adjusting Journal Entries

For Year Ending $12/31/2023$

Date Accounts Debit Credit

$31-$Dec Depreciation Expense $2,642\mathrm{.}86$

Accumulated depreciation $2,642\mathrm{.}86$

$31-$Dec Amortization Expense $2,000\mathrm{.}00$

Accumulated Amortization $2,000\mathrm{.}00$

$31-$Dec Interest Expense $2,175\mathrm{.}00$

Interest Payable $2,175\mathrm{.}00$

$31-$Dec Insurance Expense $2,200\mathrm{.}00$

Prepaid Insurance $2,200\mathrm{.}00$

$31-$Dec Baking Cost of Goods Sold $137,400\mathrm{.}00$

Baking Supplies $137,400\mathrm{.}00$

$31-$Dec Office Supplies Expense $1,350\mathrm{.}00$

Office Supplies $1,350\mathrm{.}00$

$31-$Dec Wages Expense $22,800\mathrm{.}00$

Wages Payable $22,800\mathrm{.}00$ Closing Entries

For Year Ending $12/31/2023$

Date Accounts Debit Credit

$31-$Dec Bakery Sales

Merchandise Sales

Income Summary

$31-$Dec Income Summary

Baking Cost of Goods Sold

Rent Expense

Interest Expense

Insurance Expense

Depreciation Expense

Amortization Expense

Misc. Expense

Office Supplies Expense

Business License Expense

Advertising Expense

Wages Expense

Telephone Expense

Cost of Goods Sold$-$ Merch.

$31-$Dec Income Summary

Retained Earnings

$--$Income Statement

For Year Ending $12/31/2023$

Bakery Sales

Merchandise Sales

Total Revenues $-$

Cost of Goods Sold

Baking Cost of Goods Sold $-$

Gross Profit $-$

Operating Expenses:

Rent Expense

Interest Expense

Insurance Expense

Depreciation Expense

Amortization Expense

Office Supplies Expense

Business License Expense

Advertising Expense

Wages Expense

Telephone Expense

Misc. Expense

Total Operating Expenses: $-$

Net Income $-$ Statement of Retained Earnings

For Year Ending $12/31/2023$

Beginning Balance: $-$

plus Net Income $-$

less Dividends:

Ending Balance: $-$ Balance Sheet

As of December $31,2023$

Assets Liabilities and Owners' Equity

Current Assets: Current Liabilities:

Cash Accounts Payable

Baking Supplies Wages Payable

Merchandise Inventory Interest Payable

Prepaid Rent Total Current Liabilities $-$

Prepaid Insurance

Office Supplies Long Term Liabilities:

Accounts Receivable Notes Payable

Total Current Assets $-$ Loans Payable

Total Long Term Liabilities: $-$

Total Liabilities: $-$

Long Term$/$Fixed Assets:

Baking Equipment Common Stock

Accumulated Depreciation Retained Earnings $-$

$-$

Leasehold Improvements Total Equity $-$

Accumulated Amortization $-$

Trademark

Total Assets: $-$ Total Liabilities & Equity $-$ Post$-$Closing Trial Balance

December $31,2023$

Cash

Baking Supplies

Merchandise Inventory

Prepaid Rent

Prepaid Insurance

Baking Equipment

Accumulated Depreciation

Leasehold Improvements

Accumulated Amortization

Trademark

Office Supplies

Accounts Receivable

Notes Payable

Interest Payable

Accounts Payable

Wages Payable

Loans Payable

Common Stock

Retained Earnings

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