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Required: 1. a 2. Post the T-accounts for each of the accounts on the balance sheet and enter the balances at the end of 2014 as becinnina balances for 2015. Two items have \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Accounts Payable } \\ \hline Beg Bal & 13,000 \\ \hline & \\ \hline & \\ \hline End Bal & 13,000 \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline Bog Bat & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \hline Bep Bal & & \multicolumn{3}{|c|}{ Long-Tarm Notes Payable } \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline End Bal & & 40,000 \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Retained Earnings } \\ \hline Ben Pot & & 13400 \\ \hline & & \\ \hline & & \\ \hline End bal & o. & 43,400 \\ \hline \end{tabular} Cougar Plastles Company has been operating for three years. At December 31, 2014, the acrountina records reflected the following: a. Purchased short-term investments for $8,100 cash. th lent $5,300 to a supplier who signed a two-year note. c. Purchased equipment that cost $20,000; paid \$4,400 cash and signed a one-year note for the balance. d. Hired a new president at the end of the year. The contract was for $90,000 per year plus options to purchase company stock at a set price based on company performance. e. Issued an additional 1,800 shares of $0.50 par value common stock for $11,000 cash. f. Borrowed $19,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $1,600 cash. h. Built an addition to the factory for $27,000; paid $8.100 in cash and signed a threeyearnote for the balance. 1. Returned defective equipment to the manufacturer, recelving a cash refund of $3,800. Required: 1. a 2. Post the T-accounts for each of the accounts on the balance sheet and enter the balances at the end of 2014 as becinnina balances for 2015. Two items have \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Accounts Payable } \\ \hline Beg Bal & 13,000 \\ \hline & \\ \hline & \\ \hline End Bal & 13,000 \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline Bog Bat & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \hline Bep Bal & & \multicolumn{3}{|c|}{ Long-Tarm Notes Payable } \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline End Bal & & 40,000 \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Retained Earnings } \\ \hline Ben Pot & & 13400 \\ \hline & & \\ \hline & & \\ \hline End bal & o. & 43,400 \\ \hline \end{tabular} Cougar Plastles Company has been operating for three years. At December 31, 2014, the acrountina records reflected the following: a. Purchased short-term investments for $8,100 cash. th lent $5,300 to a supplier who signed a two-year note. c. Purchased equipment that cost $20,000; paid \$4,400 cash and signed a one-year note for the balance. d. Hired a new president at the end of the year. The contract was for $90,000 per year plus options to purchase company stock at a set price based on company performance. e. Issued an additional 1,800 shares of $0.50 par value common stock for $11,000 cash. f. Borrowed $19,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $1,600 cash. h. Built an addition to the factory for $27,000; paid $8.100 in cash and signed a threeyearnote for the balance. 1. Returned defective equipment to the manufacturer, recelving a cash refund of $3,800
