AutoSave OFF ES : Week 4 Assignment (6) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri (Body) V 11 . AP = = X LO # Insert V > ab Wrap Text General ZE EM Ayu Oy 3 X Delete Paste B B I U v Av E E & Merge & Center LE % V ! ! > 0 Conditional Format Cell Formatting as Table Styles Format v V Sort & Filter Find & Select Analyze Data H40 4 x fx | A B C F H 1 L L M N P a R S U V w X Y Y Z . AB AC AD AE AF AG here are the current account balances (Part 1 transactions not included) for Sharon's Stones: Income Statement account Amount (dr/cr) Balance Sheet account Sale Sales Revenue 900 er Cash 5 Service Revenue 150 ch Accounts Receivable Cost of Goods Sold Expense 400 dr Inventory utiles Expense 220 dr Equipment Accounts Payable Bank Loan Sharon, Capital Sharon, Withdrawals Amount (dr/cr) 4,330 dr 450 dr 800 dr 3,000 d 1.200 er 2.250 5.000 300 d Make the necessary adjusting entries for the August month end. Also, make a list of updated income statement and balance sheet accounts and their dr/er balances) after these adjustments are done T Was SAMARENAXHAMARS******53969986 G G386888 T T T Dr/Cr Account name Account balance US or B/S 40 T 48 49 51 60 Part 1 Part 2 Part 3 Part 4 + Ready @ a + 70% AutoSave OFF ES : Week 4 Assignment (6) Home Insert Draw Page Layout Formulas Data Review View Tell me ADOLF HITLER Voice message (0:16) Calibri (Body) V 11 - = = V V X LO > ab Wrap Text General e verte Paste B I U A .00 5 Merge & Center & LE %) V Conditional Format Cell Formatting as Table Styles 1 Format Sort & Filter Find & Select Analyze Data H48 fx A B D E H . M N P R S T V w X Z AA AB AC AD AE AF AG 1 Make the necessary adjusting entries for September month end for Sharon's Stones. Also, make a list of updated Income statement and balance sheet accounts and their drar balances) after these adjustments are done. 2 3 4 5 6 7 8 8 Sasa NASASAARNARFOR******8860896885casa TTT TETET TETET TETET TETT Dr/Cr Account name Account balance US or B/S 58 59 50 Part 1 Part 2 Part 3 Part 4 + 2 Ready @ a + 70% AutoSave OFF BES 5 = Week 4 Assignment (6) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Calibri (Body) V 11 I = = V V ab Wrap Text > General ZE # Insert DX Delete 48- 0 DEM 3 v Paste B a. Av A I U === FE Merge & Center & .00 LE %> V Conditional Format Cell Formatting as Table Styles Format v Sort & Filter Find & Select Analyze Data B36 4 x fx A B D E F G H 1 L M N 0 P Q R s T U 1 IV) Make the necessary closing entries at the end of September (quarter-end) for Sharon's Stones. 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 Part 1 Part 2 Part 3 Part 4 + 2 Ready @ A + 100% AutoSave OFF ES : Week 4 Assignment (6) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri (Body) V 11 = = Ai V Insert V > X LO ab Wrap Text General Ayu Oy 5 5X Delete v DEM Paste B B I U A E .00 Merge & Center % ) 8 V Conditional Format Cell Formatting as Table Styles Format v v Sort & Filter Find & Select Analyze Data K35 4 x fx A B D E F G H 1 J K L M M N O P 0 R s T U 1 Here are the current account balances for Sharon's Stones: Income Statement account Sales Revenue Service Revenue Cost of Goods Sold Expense Utilities Expense Amount (dr/cr) 900 ch 150 cr 400 dr 220 dr Balance Sheet account Cash Accounts Receivable Inventory Equipment Accounts Payable Bank Loan Sharon, Capital Sharon, Withdrawals Amount (dr/cr) 4,330 dr 450 dr 800 dr 3,000 dr 1,200 er 2,250 cr 5,000 cr 300 dr 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 1) Make the necessary journal entries for the following transactions: a) b) c) d) e) f) Aug 31, 2024- Sharon recognizes that her equipment will last 3 years and have a salvage value of $100 at that point. She wishes to depreciate all capital assets on a monthly basis using the straight-line method. Sep 1, 2024- Sharon purchases a $6,000 vehicle financed through a car dealership loan (4% annual interest rate with interest payable every three months). The vehicle is expected to last 5 years with a salvage value of $1,000. Sep 3, 2024-Hugh pays off his remaining debt to Sharon. Sep 5, 2024-Sharon pays her supplier for the Aug 11" purchase. Sep 9, 2024-Sharon secures a $3,000 contract to produce ten jewellery pieces. The customer will provide the materials and pay at the end. Sep 13, 2024- Sharon makes a $950 cash sale. The goods had cost her $450. Sep 18, 2024-Sharon buys inventory for $800 on account. Sep 21, 2024-Sharon completes a $100 necklace repair on account. Sep 25, 2024-Sharon secures a $2,000 contract to produce seven jewellery pieces. The customer pays her up front. Sep 28, 2024-Sharon repays $750 of her bank loan. Sep 30, 2024-Sharon estimates she has completed two-thirds (66.7%) of the work on the Sep 9 contract and one-quarter (25%) of the work on the Sep 25 contract. h) i) i) k) 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Part 1 Part 2 Part 3 Part 4 + Ready @ A + 100% AutoSave OFF ES : Week 4 Assignment (6) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri (Body) V 11 . AP = = X LO # Insert V > ab Wrap Text General ZE EM Ayu Oy 3 X Delete Paste B B I U v Av E E & Merge & Center LE % V ! ! > 0 Conditional Format Cell Formatting as Table Styles Format v V Sort & Filter Find & Select Analyze Data H40 4 x fx | A B C F H 1 L L M N P a R S U V w X Y Y Z . AB AC AD AE AF AG here are the current account balances (Part 1 transactions not included) for Sharon's Stones: Income Statement account Amount (dr/cr) Balance Sheet account Sale Sales Revenue 900 er Cash 5 Service Revenue 150 ch Accounts Receivable Cost of Goods Sold Expense 400 dr Inventory utiles Expense 220 dr Equipment Accounts Payable Bank Loan Sharon, Capital Sharon, Withdrawals Amount (dr/cr) 4,330 dr 450 dr 800 dr 3,000 d 1.200 er 2.250 5.000 300 d Make the necessary adjusting entries for the August month end. Also, make a list of updated income statement and balance sheet accounts and their dr/er balances) after these adjustments are done T Was SAMARENAXHAMARS******53969986 G G386888 T T T Dr/Cr Account name Account balance US or B/S 40 T 48 49 51 60 Part 1 Part 2 Part 3 Part 4 + Ready @ a + 70% AutoSave OFF ES : Week 4 Assignment (6) Home Insert Draw Page Layout Formulas Data Review View Tell me ADOLF HITLER Voice message (0:16) Calibri (Body) V 11 - = = V V X LO > ab Wrap Text General e verte Paste B I U A .00 5 Merge & Center & LE %) V Conditional Format Cell Formatting as Table Styles 1 Format Sort & Filter Find & Select Analyze Data H48 fx A B D E H . M N P R S T V w X Z AA AB AC AD AE AF AG 1 Make the necessary adjusting entries for September month end for Sharon's Stones. Also, make a list of updated Income statement and balance sheet accounts and their drar balances) after these adjustments are done. 2 3 4 5 6 7 8 8 Sasa NASASAARNARFOR******8860896885casa TTT TETET TETET TETET TETT Dr/Cr Account name Account balance US or B/S 58 59 50 Part 1 Part 2 Part 3 Part 4 + 2 Ready @ a + 70% AutoSave OFF BES 5 = Week 4 Assignment (6) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Calibri (Body) V 11 I = = V V ab Wrap Text > General ZE # Insert DX Delete 48- 0 DEM 3 v Paste B a. Av A I U === FE Merge & Center & .00 LE %> V Conditional Format Cell Formatting as Table Styles Format v Sort & Filter Find & Select Analyze Data B36 4 x fx A B D E F G H 1 L M N 0 P Q R s T U 1 IV) Make the necessary closing entries at the end of September (quarter-end) for Sharon's Stones. 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 Part 1 Part 2 Part 3 Part 4 + 2 Ready @ A + 100% AutoSave OFF ES : Week 4 Assignment (6) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri (Body) V 11 = = Ai V Insert V > X LO ab Wrap Text General Ayu Oy 5 5X Delete v DEM Paste B B I U A E .00 Merge & Center % ) 8 V Conditional Format Cell Formatting as Table Styles Format v v Sort & Filter Find & Select Analyze Data K35 4 x fx A B D E F G H 1 J K L M M N O P 0 R s T U 1 Here are the current account balances for Sharon's Stones: Income Statement account Sales Revenue Service Revenue Cost of Goods Sold Expense Utilities Expense Amount (dr/cr) 900 ch 150 cr 400 dr 220 dr Balance Sheet account Cash Accounts Receivable Inventory Equipment Accounts Payable Bank Loan Sharon, Capital Sharon, Withdrawals Amount (dr/cr) 4,330 dr 450 dr 800 dr 3,000 dr 1,200 er 2,250 cr 5,000 cr 300 dr 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 1) Make the necessary journal entries for the following transactions: a) b) c) d) e) f) Aug 31, 2024- Sharon recognizes that her equipment will last 3 years and have a salvage value of $100 at that point. She wishes to depreciate all capital assets on a monthly basis using the straight-line method. Sep 1, 2024- Sharon purchases a $6,000 vehicle financed through a car dealership loan (4% annual interest rate with interest payable every three months). The vehicle is expected to last 5 years with a salvage value of $1,000. Sep 3, 2024-Hugh pays off his remaining debt to Sharon. Sep 5, 2024-Sharon pays her supplier for the Aug 11" purchase. Sep 9, 2024-Sharon secures a $3,000 contract to produce ten jewellery pieces. The customer will provide the materials and pay at the end. Sep 13, 2024- Sharon makes a $950 cash sale. The goods had cost her $450. Sep 18, 2024-Sharon buys inventory for $800 on account. Sep 21, 2024-Sharon completes a $100 necklace repair on account. Sep 25, 2024-Sharon secures a $2,000 contract to produce seven jewellery pieces. The customer pays her up front. Sep 28, 2024-Sharon repays $750 of her bank loan. Sep 30, 2024-Sharon estimates she has completed two-thirds (66.7%) of the work on the Sep 9 contract and one-quarter (25%) of the work on the Sep 25 contract. h) i) i) k) 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Part 1 Part 2 Part 3 Part 4 + Ready @ A + 100%