Assignment Details Using the data provided, perform the steps below to complete the final project. FILL OUT THE CLOSING ENTRIES CHART USING THE INFORMATION PROVIDED USE THE GRAPH ATTACHED On December 1, 2019, SoccerBox Inc. started operations. The following transactions occurred during December 2019. NOTE: There are no beginning balances-this is a new company. Dec 1 Randol Espy invested $80,000 cash in the company for common stock. 2 SoccerBox purchased soccer equipment for $20,000 cash. 2 SoccerBox rented an old warehouse for $30,000 cash for the first year's (December 2019-November 2020) rent. 3 SoccerBox purchased $500 of office supplies with cash. 10 SoccerBox paid $12,000 cash for an annual insurance policy. 14 SoccerBox paid $4,000 cash for the first payroll earned by its employees. 24 SoccerBox received $85,000 cash from soccer fees paid by parents for a private youth soccer lesson. 28 SoccerBox paid $4,000 cash for 2 weeks' salaries earned by its employees. 29 SoccerBox paid $200 cash for minor repairs to its soccer equipment. 30 SoccerBox paid $150 cash for this month's telephone bill. 30 Dividends of $1,000 cash were paid by SoccerBox to its current shareholders.

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Comprehensive review of the entire accounting cycle, Chapters 1-5 0 (175 min) Check Figure Net Income $5,388.44 P5-2C. From the following transactions as well as additional data, please complete the entire accounting cycle for Mike's Plumbing of Prince Albert. (Use a chart of accounts similar to the one in Problem P5-1A on page 228.) 2022 May 1 To open the business, Mike Quinlan invested $10,000 cash and $7,400 worth of plumbing equipment. 1 Paid rent for four months in advance, $1,980. 3 Purchased office equipment on account from MacKenzie Co., $3,800. 7 Bought plumbing supplies, $1,645. 8 Collected $3,600 for plumbing services provided. 9 Mike paid his home utility bill with a company cheque, $122. Billed Western Construction Co. for plumbing fees earned but not to be received until later, $9,600. 10 14 21 28 Advertising bill was received from ABCD Radio Co. but is not to be paid until next month, $420. Received cheque from Western Construction Co. in partial payment of transaction…

Oriole Company had the following assets and liabilities on the dates indicated. December 31 Total Assets 2021 2022 2023 Net income $496,000 $556,000 $686,000 Oriole began business on January 1, 2021, with an investment of $98,000. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2021, assuming Oriole's drawings were $15,000 for the year. Net loss for 2021 Net income Total Liabilities (b) 2022, assuming Oriole made an additional investment of $50,000 and had no drawings in 2022. for 2022 $209,000 $259,000 $359,000 for 2023 $ (c) 2023, assuming Oriole made an additional investment of $23,000 and had drawings of $27,000 in 2023. $ $

On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances:   Accounts Debit Credit Cash $23,800   Accounts Receivable 5,200   Supplies 3,100   Land 50,000   Accounts Payable   $3,200 Common Stock   65,000 Retained Earnings   13,900 Totals $82,100 $82,100   During January 2024, the following transactions occur:   January 2 Purchase rental space for one year in advance, $6,000 ($500/month). January 9 Purchase additional supplies on account, $3,500. January 13 Provide services to customers on account, $25,500. January 17 Receive cash in advance from customers for services to be provided in the future, $3,700. January 20 Pay cash for salaries, $11,500. January 22 Receive cash on accounts receivable, $24,100. January 29 Pay cash on accounts payable, $4,000.   The following information is available on January 31.   Rent for the month of January has expired. Supplies remaining at the end of January total…

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