BUS$4074-$ In$-$class Personal Assignment #$1-$ Worth $25\%$ of Overall Grade

Shiloh's Hair Envy opened on January $1,2024.$ Below is the Chart of Accounts $/$ Trial Balance as of February $1,2024$ for the company,

Chart of Accounts $/$ Trial Balance as of Feb $1,2024$

$\backslash$table$[[101,\backslash$table$[[$Accounts $/$ Trial Balance as of Feb $1,2024]],CR,,,$DR$,],[$Bank Account,DR$,,,],[102,$Accounts Receivable $(\frac{A}{R},,,,],[103,$Inventory,$-,,301,\backslash$table$[[$Capital $/$ Equity$],[$Investments$]],,250],[104,$Prepaid Rent,$2\mathrm{.}000,,302,$Withdrawals,,$],[105,$PP&E $\{$fe$8$c$210$b$4-1$f$04-42$dd$-$bb$90-7$ba$5$c$3$cec$903\}$

$\backslash$table$[[$PP$]],-,,401,,,],[106,$Accumulated Depreciation $-$ PP&F$,-,,501,$Cost of Sales $($COS$),-,],[201,$Accounts Payable $($A$/$P$),-,,502,$Rent Expense,$-,],[202,$Wages Payable,,,$503,$Utilities Expense,$-,],[203,$Bank Loan,,$1,750,504,$Wages Expense,$-,],[,,,,505,$Depreciation Expense,$-,]]$

During the month of February, the following transactions occurred:

a$)$ Shiloh got a bank loan for $$30,000$ in cash.

b$)$ Purchased $$15,000$ of inventory on credit.

c$)$ Wages paid to the employees was $$3,950-$ $$1,750$ for Jan and $$2,200$ for Feb. The $$1,750$ for January's wages was recognized in January, but not paid $($Wages Payable$).$

d$)$ Revenue for the month was $$50,000.$ Of the revenue, $$15,000$ was received in cash and $$35,000$ was paid for on account $($credit$).$ The inventory that was sold was valued at $$12,000.$

e$)$ Shiloh paid its inventory supplier $$9,000$ of the outstanding balance.

Required $-$ Worth $10$ marks:

a$)$ Using the noted Chart of Accounts, prepare the JOURNAL ENTRIES for each transaction that you want to recognize for the month of February.

b$)$ Post the journal entries to the account ledgers $($T$-$ACCOUNTS$).$

c$)$ Prepare the February's UNADJUSTED TRIAL BALANCE for Shiloh's Hair Envy,

Below are five difference companies $($Company A$,$ Company B$,$ etc.$).$ For each company a portion of their account balances are lists.

Required: Fill in the missing data for each Company $($marked with a $\text{'}?\text{'})$ for the period. Hint: The Accounting Equation. Worth $5$ marks

$\backslash$table$[[,$Assets,Liabilities,Investments,Withdrawals,Revenues,Expenses$],[$Company A$,?,2,385,1,871,1,854,4,904,4,568],[$Company B$,11,379,6,200,?,14,914,5,088,5,172],[$Company C$,51,915,74,637,53,654,61,965,56,318,?],[$Company D$,165,571,?,100,911,170,835,126,160,126,954],[$Company E$,783,448,809,621,624,040,1,469,878,?,950,572]]$