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0 CP2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3 LO 2-4, LO
0 CP2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3 LO 2-4, LO 2-5] [The following inflormation applies to the questions displayed below] Peflomance Plastics Company PPC, has been operating for three years. The beginning account balances are: 54,250 9,159 51,258 5,758 6,008 95,098 184,008 43,500 39,098 190,060 150,090 168,900 During the year, the company had the following summarized activities: a. Purchased equipment that cost $26,850; paid $7,850 cash and signed a two-year note for the balance. b. lissued an adoisional 2400 shares of common stock for $24,000 cash. c 8onowed 578,500 cash from a local bank, payable June 30 , in two years. d. Purchased supplies for
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