12-1 The Shark Corp Received $ 220.000 from SJ Sharkie in exchange for 5,000 shares of Common Stock. 12-2 The Shark Corp Borrowed $45,000 from Wells Fargo Bank and signed a Note. 12-3 The Shark Corp purchased office Furniture for $120,000(5 year life), on account from lKEA. 12-4 Shark Corp purchased computer Equipment for $ 60,000(5 year life), on account from Office Depot 12-5 The Shark Crop paid $ 18,000 with Check #101 for Corporate Insurance for the next 12 months.(Dec-Feb) 12-10 The Shark Corp paid $20,000 with Check#102 for December Rent. 12-11 The Shark Corp provided a mascot Seminar for the NIKE Corp and Billed Nike $120,000 on account. 12-15 The Shark Corp received the December Utility Bill from PGE in the amount of $5,000 to be paid in Jan. 12-16 The Shark Corp received the December Telephone Bill from SBC for $6,000 to be paid Later. 12-17 The Shark Corp received a $70,000 Check from Nike Corp on account for services previously provided. 12-20 The Shark Corp paid $10,000 with check #103 to Mark's Marketing for Professional Fees Expense. 12-25 The Shark Corp paid $44,000 with Check #104 for December Salary expenses. 12-27 The Shark Corp received a $25,000 Check from Buick Corp for services to be provided in January. 12-28 The Shark Corp Paid $120,000 with Check#105 to IKEA Corp for the Office Furniture purchased above. 12-29 The Shark Corp Paid $6,000 with Check #106 to SBC on account for the Telephone Bill. 12-30 The Shark Corp Paid $12,000 with Check#107 to Mr. SJ Sharkie for Dividends to the owner 12.30 The Shark Corp paid $3,000 with check #108 to WF Bank on the note, $1,000 was for Interest Expense. 12-31 The Shark Corp recorded one Month of Insurance expense from the Prepaid Insurance account. 12-31 The Shark Corp recorded one Month of Depreciation Expense on the Furniture and the Computer Equip 12-31 The Shark Corp recorded Income Tax Payable and Income Tax Expense for December, which is 40% of Net Income. (Taxes to be discussed in class) 12-1 The Shark Corp Received $ 220.000 from SJ Sharkie in exchange for 5,000 shares of Common Stock. 12-2 The Shark Corp Borrowed $45,000 from Wells Fargo Bank and signed a Note. 12-3 The Shark Corp purchased office Furniture for $120,000(5 year life), on account from lKEA. 12-4 Shark Corp purchased computer Equipment for $ 60,000(5 year life), on account from Office Depot 12-5 The Shark Crop paid $ 18,000 with Check #101 for Corporate Insurance for the next 12 months.(Dec-Feb) 12-10 The Shark Corp paid $20,000 with Check#102 for December Rent. 12-11 The Shark Corp provided a mascot Seminar for the NIKE Corp and Billed Nike $120,000 on account. 12-15 The Shark Corp received the December Utility Bill from PGE in the amount of $5,000 to be paid in Jan. 12-16 The Shark Corp received the December Telephone Bill from SBC for $6,000 to be paid Later. 12-17 The Shark Corp received a $70,000 Check from Nike Corp on account for services previously provided. 12-20 The Shark Corp paid $10,000 with check #103 to Mark's Marketing for Professional Fees Expense. 12-25 The Shark Corp paid $44,000 with Check #104 for December Salary expenses. 12-27 The Shark Corp received a $25,000 Check from Buick Corp for services to be provided in January. 12-28 The Shark Corp Paid $120,000 with Check#105 to IKEA Corp for the Office Furniture purchased above. 12-29 The Shark Corp Paid $6,000 with Check #106 to SBC on account for the Telephone Bill. 12-30 The Shark Corp Paid $12,000 with Check#107 to Mr. SJ Sharkie for Dividends to the owner 12.30 The Shark Corp paid $3,000 with check #108 to WF Bank on the note, $1,000 was for Interest Expense. 12-31 The Shark Corp recorded one Month of Insurance expense from the Prepaid Insurance account. 12-31 The Shark Corp recorded one Month of Depreciation Expense on the Furniture and the Computer Equip 12-31 The Shark Corp recorded Income Tax Payable and Income Tax Expense for December, which is 40% of Net Income. (Taxes to be discussed in class)