FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Please fill out remanding yellow cells that have nothing in them, not the ones that have numbers in already, thank you
P Search (At O
Nathan Jackson
O Autosave O
M2 P.Saved
OComments
A Share
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Insert Draw Page Layout Formulas Data Review
View Help
File
E Autosum-
X Cut
D Copy
-11-A A
Wrap Test
General
Calibri
Analye Jasperactive
for Office
Sort& Find &
Conditional Format as Cell
Insert Delete Format
BIU -O A
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$- % > 4
O Clear
Fiter Select
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Formatting Table Styles
Data
fomat Painter
Number
Styles
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Editng
Analysis
CO Leaming
Clutoed
Font
Aigment
Unda
122
Xv Interest Expense
F
G
H
D
1 M2 Project
WVU MIX Username: com
Assets
Liabilities
Shareholders' Equity
Do you intend to major in one of the College of Business and Economic's majors?
Yes
Account
Amount
Account
Amount
Account
Amount
83.536 Cash
5.500 Inventory
132,000 Equipment
(1.100) Accumulated Depreciation
33,000 inventory
$ 111.000 Stock
2,406 Retained Earnings
Balance Sheet at April 30
S 106.000 Notes Payable
530 Interest Pavable
Amounts in US $
During May, its second month of business, Karry no Key, Inc
5/1
5/1
Total
33,000
3,300
Per Unit
33,000 Accounts Payable
Purchased 300 karaoke machines on account
Paid for six months of insurance in advance; coverage that begins May 1
$
110 00 S
3,300 Prepaid Insurance
(3,300) Cash
10
12
During
Sold 320 karaoke machines on account
13
Record the sale
154.00
49,280 Accounts Receivable
49.280 Sales Revenue
May
(35,200) Cost of Goods Sold
(35,200) Inventory
44,352 Cash
(44.352) Accounts Receivable
(19800) Cash
(1.080) Cash
(550) Prepaid Insurance
(1,100) Accumulated Depreciation
14
Record the cost of the sale
110.00
15
During
Collected cash from customers from sales made on account
44.352
16
May
17
(19.800) Accounts Payable
Paid for inventory purchased on account
Declared and paid cash dividend to its shareholders
Adjusted for insurance used during the month
Adjusted for depreciation on equigment (hirt refer to P1 for estimated life of equiement)
Adjusted for wages owed that will be paid in the first week of lune
Adusted for interest owed on the 6%, 3-month bank loan; interest and principal due on June 30
19.800
5/31
5/31
(1,080) Dividends
(550) Insurance Expense
(1,100) Depreciation Expense
(1,484) Wages Expense
(530interest Expense
122.742
18
1,080
19
9
A1
20
A2
1484 Wages Payable
530 Interest Payable
21
A3
1,484
22
A4
530
23
Column Tetals
244,486
121.744
24
25
26
27
Chart of Accounts
Accounts Payable
Accounts Receivable
Accumulated Depreciation
26
29
Cash
Cost of Goods Sold
Depreciation Expense
Dividends
30
31
32
Instructions Journal Statements
Neady
mby tig
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2/2/2022
BANG LOUFS
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Transcribed Image Text:P Search (At O Nathan Jackson O Autosave O M2 P.Saved OComments A Share Home Insert Draw Page Layout Formulas Data Review View Help File E Autosum- X Cut D Copy -11-A A Wrap Test General Calibri Analye Jasperactive for Office Sort& Find & Conditional Format as Cell Insert Delete Format BIU -O A E=D E Merge a Center $- % > 4 O Clear Fiter Select Parte Formatting Table Styles Data fomat Painter Number Styles Cels Editng Analysis CO Leaming Clutoed Font Aigment Unda 122 Xv Interest Expense F G H D 1 M2 Project WVU MIX Username: com Assets Liabilities Shareholders' Equity Do you intend to major in one of the College of Business and Economic's majors? Yes Account Amount Account Amount Account Amount 83.536 Cash 5.500 Inventory 132,000 Equipment (1.100) Accumulated Depreciation 33,000 inventory $ 111.000 Stock 2,406 Retained Earnings Balance Sheet at April 30 S 106.000 Notes Payable 530 Interest Pavable Amounts in US $ During May, its second month of business, Karry no Key, Inc 5/1 5/1 Total 33,000 3,300 Per Unit 33,000 Accounts Payable Purchased 300 karaoke machines on account Paid for six months of insurance in advance; coverage that begins May 1 $ 110 00 S 3,300 Prepaid Insurance (3,300) Cash 10 12 During Sold 320 karaoke machines on account 13 Record the sale 154.00 49,280 Accounts Receivable 49.280 Sales Revenue May (35,200) Cost of Goods Sold (35,200) Inventory 44,352 Cash (44.352) Accounts Receivable (19800) Cash (1.080) Cash (550) Prepaid Insurance (1,100) Accumulated Depreciation 14 Record the cost of the sale 110.00 15 During Collected cash from customers from sales made on account 44.352 16 May 17 (19.800) Accounts Payable Paid for inventory purchased on account Declared and paid cash dividend to its shareholders Adjusted for insurance used during the month Adjusted for depreciation on equigment (hirt refer to P1 for estimated life of equiement) Adjusted for wages owed that will be paid in the first week of lune Adusted for interest owed on the 6%, 3-month bank loan; interest and principal due on June 30 19.800 5/31 5/31 (1,080) Dividends (550) Insurance Expense (1,100) Depreciation Expense (1,484) Wages Expense (530interest Expense 122.742 18 1,080 19 9 A1 20 A2 1484 Wages Payable 530 Interest Payable 21 A3 1,484 22 A4 530 23 Column Tetals 244,486 121.744 24 25 26 27 Chart of Accounts Accounts Payable Accounts Receivable Accumulated Depreciation 26 29 Cash Cost of Goods Sold Depreciation Expense Dividends 30 31 32 Instructions Journal Statements Neady mby tig |田 国可 100% • d D 16 PM 2/2/2022 BANG LOUFS delete Tome end 96 backspAce ock Q E U 7. home A D F G K enter prt sc C B N M t shift 1. end alt ctri
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