Analyze and journalize these transactions into general journal paper. First step of the accounting cycle. All values needed shown in the pictures below.
Sassy Shaterica's Shutters and Sheds Tra 1. October 1: Stockholder's invest $424,208 into the company in exchange for Sassy's Shaterica's Shutters and Sheds common stock. 2. October 1: Sassy Shaterica paid in advance for a 5-month insurance policy, which will begin today. She paid $3,345 cash for the policy. 8. October 1: Sassy Shaterica purchased some land and a building for a total of 5539,837 using $119.837 cash and then borrowing the rest from the bank. Based on the total purchase price of $539,837, the land was $95,657 and the building was the remainder. The loan from the bank will be paid off over the next 12 years ( 1/12 of the principal will be paid off at the end of each year). The loan carries an interest rate of 12.88%. Interest accrued will be paid off at the end of every year. The building has an expected life of 55 years and will be depreciated using the straight-line method. 82,200=57500=5575=8050= 4. October 6: Sassy Shaterica purchased cight SHED2GR8T-4U's, five IB1GASHD-4U's, fifty-five ISHUT1-2's, and eighty SHUT4U-2's from Harley \& Charley Davidson's Pit Palace. See Inventory Costing List for costs. The credit terms are 8/20,n90. Encentory (6) (C) 5. October 7; Sassy Shaterica paid FedEx $2,212 cash to ship the shutters and sheds she bought from Harley \& Charley Davidson's Pit Palace. 6. October 12: Sassy Shaterica purchased $1.976 worth of supplies from Roscoes R' Us paying cash. 7. October 13: Sassy Shaterica sold two 1BIGASHD-4U's (markup 95% ) (markup 140\%) to Madi's Massive Mansions. Use inventory Costing List for markups and costs. 8. October 14: Madi's Massive Mansions paid DHL $313 cash to ship the bikes she just bought. 9. October 16: Sassy Shaterica bought a Shutterer Machine for $55,536 using $5,536 cash and then borrowing the rest from the bank. The loan will be paid off over the next 4 years (1/4 of the principal will be paid at the end of each year). The loan carries an interest rate of 6 percent. Interest accrued will be paid off at the end of every year. The Shutterer Machine has an expected life of 8 years, salvage value of $1,200, and will be depreciated using the straight-line method. 10. October 18: Sassy Shaterica hires Patty P. Promo for promotional purposes. She estimates her salary to be $15 hhour. She will probably work 25 hours over the next month. 11. October 21: Sassy Shaterica's pay period ends and she now owes her employees $2,487 in salaries. These salaries will be paid on October 26th. 12. October 24: Sassy Shaterica paid off the balance due from Harley \& Charley Davidson's Pit Palace. 13. Oetober 26: Sassy Shaterica paid her employees the salaries owed. 14. November 1: Madi's Massive Mansions paid her balance off for the shutters and sheds she purchased. 15. November 5: Sassy Shaterica purchased more from Hariey \& Charicy Davidwon's Pit Palace. She purchased twelve SHED2GR8T-4U's, nine 1B1GASHD-4U's, forty-five ISHUM-2's, and twenty SHUT4U-2's. The credit terms are 425 EOM, n/5. 16. November 8: Harley \& Charley Davidson's Pit Palace paid UPS $2,091 cash to ship the shutters and sheds to Sassy Shaterica. 17. November 13: Sassy Shaterica sold sixty. ISHUT1-2's (markup 200\%), seventy-five SHUT4U-2's (markup 220\%), twelve SHED2GR8T-4U's (markup 350\%), and six 1B1GASHD-4U's (markup 300% ) to Willow's. Windows credit terms of 1/60,n/120. 18. November 14: Sassy Shaterica paid FedEx $3,333 to ship the shurters and sheds to Willow's Windows. 19. November 16: Sassy Shaterica bought a Shedding Machine for $22,383 using 54,383 cash and then borrowing the rest from the bank. The loan will be paid off over the next 3 years (1/3 of the principal will be paid at the end of each year). The loan carries an interest rate of 18 percent. Interest accrued will be paid off at the end of every year. The Shedding Machine has an expected life of 4.5 years, salvage value of $567, and will be depreciated using the straight-line method. 20. November 21: Sassy Shaterica's pay period ends and she now owes her employecs 52,501 in salaries. These salaries will be paid on November 26oi. 21. November 23: Sassy Shaterica returned one 1B1GASHD-4U's and three ISHUT1-2's to Harley \& Charley Davidson's Pit Palace. 22. November 26: Sassy Shaterica paid her employees the salaries owed. 23. November 30: Sassy Shaterica paid cash dividends of 52,345. 24. December 2: Willow's Windows returned two SHED2GR8T-4U's due to parts falling off. 25. December 5: Sassy Shaterica purchased twenty 1BIGASHD-4U's and twenty-two SHED2GR8T4U's from Jeremy's Joyful Junk \& More. The credit terms are 1/10 EOM, n 60 . 26. December 7: Sassy Shaterica paid FedEx \$3,000 to have the sheds shipped to her. 27. December 10: Sassy Shateriea paid a utilities bill in the amount of $3,247. 28. December 15: Sassy Shaterica sells sheds to Taco Terrier and Pits Campgrounds. They purchased twenty-four SHED2GR8T-4U's (markup 425\%) and eighteen 1B1GASHD-4U's (markup 375\%). Credit terms are 3/20,n/50. 29. December 19: Taco Terrier and Pirs Campgrounds paid FedFr $5,000 to ship the sheds they just bought. 30. December 21: Sassy Shaterica's pay period ends and she now owes her employees $2,555 in salaries. These salaries will be paid on December 26th. 31. December 24: Sassy Shaterica paid off the balance due from Harley \& Charley Davidson's Pit Palace. 32. December 26: Sassy Shaterica paid her employees the salaries owed. 33. December 30: Willow's Windows paid her balance off for the shutters and sheds she purchased. Inventory Costing List for Final Products* ModelNumberSHUT4U-2ISHUT1-2SHED2GR8T-4U1B1GASHD-4UProductDescriptionShatericasSmallShutterShatericasLargeShutterShatericasSmokinSuperShedShatericasBiggestShedEverFinalCost(inUS$)50.0075.002200.007500.00
