Accounting Equation Inventory Tracking Budget Template Income Statement Balance Sheet Events Beginning Balances as of Dec 31, Year 1/Jan 1, Year 2 Paid a $44,000 cash dividend previously declared for stockholders Paid wages payable accrued in previous month Acquired $450,000 by signing a note payable with a local bank Sold 15,000 shares of $10 par Common Stock for $220,000 Sold 4,000 shares of $40 par, 3% cumulative preferred stock for $240,000 Purchased a truck and piece of Equipment for $138,000. The truck has a market value of 63,000 and the equipmest has a market value of 77,000 Purchased 45,000 Units of Inventory on Account for $8.15 per unit Sold 65,000 units at $44.50 on Account-Revenue COGS on sale of 65,000 units on Account (from previous event Collect $1,570,000 on Account Paid $540.250 of Accounts Payable 12 Purchased 70,000 Units of leventory on Account for $8.50 per uni Sold 75,000 units at $44.50 on Account Record COGS for Sales of 75,000 units on Account B Collect $2,474,500 on Account Paid $438 500 of Accounts Payable Collect $1,735,000 on Account Paid $383,150 of Accounts Payable Purchased 175,000 Units of Inventory on Account for $8.75 per unit Paid Advertising and Marketing Expenses of $103,000 Paid Operating Expenses of $475,708 Paid Wages of $1,435,000 23 Record Wages Payable of $415,000 Interest on Note Payable Principle on Note Payable 2 Year 1 Depreciation on Truck Year 1 Depreciation on Equipment Year 2 Depreciation on Building Common Stock Dividend Declaration Preferred Stock Dividend Declaration Balance at December 31, Yr 2 Total & Equity Cash 1,757,000 Acct Rec 17,500 Invento 348.00 1.757,000 17,500