1. Purchased $75,000 worth of shares

2. Jan 1st Prepaid rent for 12 months costing $24,000.

3. Feb 1st Received $36,000 cash for services to be performed over the next 12 months.

4. Mar 1st purchased $45,000 of inventory on account with terms of 2/15 n30

5. The goods were shipped FOB shipping point for $1,800.

6. On March 1st Snow Co. received a loan for $18,000 with a 5% interest rate, payable at the term of the loan. The loan was for 12 months.

7. March 10th, Snow Co. paid for the inventory purchased on Mar 1st.

8. Purchased a piece of equipment to help with manufacturing for $16,000. The salvage value is $2,200 and the useful life is 4 years.

9. Snow Co patented their technology for $30,000. This was paid in cash. The patent has a useful life of 15 years.

10. Snow Co sold merchandise for $57,500.

11. The merchandise sold in event 10, had a cost of $37,750.

12. The shipping terms from the event in #10, were FOB destination for $1,500.

13. On Oct 1st, Snow Co. issued a note receivable to Ball Co. for $15,000 with an interest rate of 5% due in 12 months. Interest is received at the term of the loan.

14. Snow Co. sold an existing piece of equipment for $5,000 and the asset was originally purchased for $25,000 and had accumulated depreciation of $22,000.

AJEs (Dec. 31)

1. Rent ADJ

2. Revenue ADJ

3. Equipment ADJ

4. Patent ADJ

5. Loan ADJ

6. Note Receivable ADJ