AutoSave OFF HES 5 = 1-12.01Student Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments Calibri (Body) v 10 ~ Ai = = = ab Wrap Text General HP/ AL --- :28 O 5 Paste B I U arA Merge & Center Insert $ % ) .00 .00 0 Delete Format Ideas Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Yes No E1 fix G H 1 J L . N O P Q R S T U A B Following are selected transactions or events of Amazon Company relating to its first month of operation. 1 1-May Amazon borrowed $100,000 via a note payable bearing interest at 1% per month. This note and all accrued interest is due at the end of July. . 2 10-May Purchased $25,000 of inventory, terms 2/10, 1/30. The purchase was initially recorded at the net amount. The obligation was not paid during May. 3 16-May The company adopted an employee health insurance plan. The total estimated cost is $100 per day. None of this cost was funded during May. 4 20-May Sold goods for $80,000 cash. Amazon offers a warranty on the goods, and anticipates that total warranty cost will be 2% of sales. 5 25-May One of Amazon's vehicles was involved in an accident. Amazon expects to be held responsible for an estimated $10,000 in damages. 6 31-May At month end, it was estimated that employees are owed for $13,000 in accrued wages. In addition, $400 was spent on warranty service work. 7 (a) Prepare any initial journal entries necessary to record the preceding transactions or events. 8 [b] Prepare month-end adjusting journal entries that are deemed appropriate related to the preceding transactions or events. (c) Prepare the current liability section of the company's balance sheet as of the end of the month. The only obligations are those related to the preceding transactions or events. 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Problem Worksheet(a) Worksheet(b) Worksheet(c) + Ready 6 P 100% AutoSave OFF HES 5 = 1-12.01Student Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments Calibri (Body) v 10 ~ AI = = = ab Wrap Text Number [47Or HP/ AL --- 5 Paste B I U av A. Merge & Center $ % ) .00 .00 0 Insert Delete Format Ideas Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Yes No E9 B DE F G H K L . N N O Q R S T U V W Y A 1 (a) 2 GENERAL JOURNAL 3 Date Accounts Debit Credit 4 1-May 5 10-May 16-May 6 7 8 20-May 25-May 31-May 9 10 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 30 31 32 33 34 35 36 37 38 Problem Worksheet(a) Worksheet(b) Worksheet(c) + Ready 6 P 99% AutoSave OFF BE SU 1-12.01Student Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments Calibri (Body) v 10 ~ AI = = = ab Wrap Text Number [47Or HP AL --- 5 Paste B I U av A. Merge & Center Insert $ % ) .00 .00 0 Delete Format Ideas Conditional Format Cell Formatting as Table Styles & Sort & Filter Find & Select Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Yes No F9 B DE F L M N O Q R S T V W Y A (b) ( 1 2 GENERAL JOURNAL 3 Date Accounts Debit Credit 4 1-May 5 10-May 16-May 6 7 20-May 8 25-May mat 31 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 30 31 32 33 34 35 36 37 38 Problem Worksheet(a) Worksheet(b) Worksheet(c) + Ready 6 P 100% AutoSave OFF HES 5 = 1-12.01Student Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments Calibri (Body) v 10 ~ Ai = = ab Wrap Text General [47Or HP/ AL 5 Paste B I U arA Insert Merge & Center $ % ) .00 .00 0 Delete Format Ideas Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Yes No Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? B1 fx (c) GHI J D E L M N 0 P R S T U V W Y Z (c) 3 Liabilities 4 Current liabilities 5 $ 6 7 8 9 10 11 12 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 Problem Worksheet(a) Worksheet(b) Worksheet(c) + Ready 6 100% AutoSave OFF HES 5 = 1-12.01Student Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments Calibri (Body) v 10 ~ Ai = = = ab Wrap Text General HP/ AL --- :28 O 5 Paste B I U arA Merge & Center Insert $ % ) .00 .00 0 Delete Format Ideas Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Yes No E1 fix G H 1 J L . N O P Q R S T U A B Following are selected transactions or events of Amazon Company relating to its first month of operation. 1 1-May Amazon borrowed $100,000 via a note payable bearing interest at 1% per month. This note and all accrued interest is due at the end of July. . 2 10-May Purchased $25,000 of inventory, terms 2/10, 1/30. The purchase was initially recorded at the net amount. The obligation was not paid during May. 3 16-May The company adopted an employee health insurance plan. The total estimated cost is $100 per day. None of this cost was funded during May. 4 20-May Sold goods for $80,000 cash. Amazon offers a warranty on the goods, and anticipates that total warranty cost will be 2% of sales. 5 25-May One of Amazon's vehicles was involved in an accident. Amazon expects to be held responsible for an estimated $10,000 in damages. 6 31-May At month end, it was estimated that employees are owed for $13,000 in accrued wages. In addition, $400 was spent on warranty service work. 7 (a) Prepare any initial journal entries necessary to record the preceding transactions or events. 8 [b] Prepare month-end adjusting journal entries that are deemed appropriate related to the preceding transactions or events. (c) Prepare the current liability section of the company's balance sheet as of the end of the month. The only obligations are those related to the preceding transactions or events. 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Problem Worksheet(a) Worksheet(b) Worksheet(c) + Ready 6 P 100% AutoSave OFF HES 5 = 1-12.01Student Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments Calibri (Body) v 10 ~ AI = = = ab Wrap Text Number [47Or HP/ AL --- 5 Paste B I U av A. Merge & Center $ % ) .00 .00 0 Insert Delete Format Ideas Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Yes No E9 B DE F G H K L . N N O Q R S T U V W Y A 1 (a) 2 GENERAL JOURNAL 3 Date Accounts Debit Credit 4 1-May 5 10-May 16-May 6 7 8 20-May 25-May 31-May 9 10 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 30 31 32 33 34 35 36 37 38 Problem Worksheet(a) Worksheet(b) Worksheet(c) + Ready 6 P 99% AutoSave OFF BE SU 1-12.01Student Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments Calibri (Body) v 10 ~ AI = = = ab Wrap Text Number [47Or HP AL --- 5 Paste B I U av A. Merge & Center Insert $ % ) .00 .00 0 Delete Format Ideas Conditional Format Cell Formatting as Table Styles & Sort & Filter Find & Select Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Yes No F9 B DE F L M N O Q R S T V W Y A (b) ( 1 2 GENERAL JOURNAL 3 Date Accounts Debit Credit 4 1-May 5 10-May 16-May 6 7 20-May 8 25-May mat 31 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 30 31 32 33 34 35 36 37 38 Problem Worksheet(a) Worksheet(b) Worksheet(c) + Ready 6 P 100% AutoSave OFF HES 5 = 1-12.01Student Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments Calibri (Body) v 10 ~ Ai = = ab Wrap Text General [47Or HP/ AL 5 Paste B I U arA Insert Merge & Center $ % ) .00 .00 0 Delete Format Ideas Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Yes No Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? B1 fx (c) GHI J D E L M N 0 P R S T U V W Y Z (c) 3 Liabilities 4 Current liabilities 5 $ 6 7 8 9 10 11 12 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 Problem Worksheet(a) Worksheet(b) Worksheet(c) + Ready 6 100%