Calibri - 18 - A- Copy Normal - Conditional Format - X Al A B C D E Name Instructions: post the 10 transactions listed below in the accounts. Use the total amount of the accounts to complete the income Statement and balance Sheet the numbers above each Taccount represents the transaction number that utilizes that account Income Statement 1.2.2.5.6.7 Account Receivable Prepaid Insurance Cost of Goods Sold Accounts Payable Balance Sheet Liabilities Total abilities wage pense Kandarin LG View POF Caliber wa Text Normal Patte $ . 11 C onfort Neutral font Al ex rho ABC D 0 0 Net Income Balance Sheet Wares Payable Sales Revenue Cost of Goods Sold Liabilities Accounts Payable Bank Loan Wages Payable Accounts Receivable S1,900 $1,100 Total Liabilities S1,500 arance Expense Ware tense Depreciation Exp -$300 Total Assets SLOS Owners Equity Paid in Capital Retained Earnings $2,100 Total OE $67.100 Totallia & OE 34 Transactions You invest $65.000 in your company Company borrows $30.000 from bank Company purchased $1,000 of furniture paid cash Company purchased $15.000 of inventory on account Solid $5000 of inventory for $3000. ($5,500 cash and $1,500 on account) Bought year of insurance for $1200 paid cash Paid S000 cash to accounts payable for inventory Record ad ustment office furniture depreciated of $300 Record adjustment of one month of insurance used $100 Record adjustment of $1500 for wages incurred learned but not yet paid 39 40 6 7 4) 10 LG View POP Calibri Wrap Ten Cat $ . 11 C at Fort Neutral Patte romat P Clipboard Al A U font exrs C D B OPO Net Income 52.109 Balance Sheet Wares Payable Salesflevere Cost of Goods Sold Liabilities Accounts Payable Bank Loan Wages Payable $1,500 Accounts Receivable Inventory $1,100 Total Liabilities S500 Depreciation Exp Wage Expense $1,500 $100 Total Assets $105.00 Owners Equity Paid in Capital Retained Earnings 2.100 Total $67.100 Totallib & OE Sos. 34 1 Transactions You invest $65.000 in your company Company borrows $30.000 from bank Company purchased $15,000 of furniture paid cash Company purchased $15.000 of inventory on account Sold $5000 of inventory for $3000. ($5,500 cash and $1,500 on account) Bought year of insurance for $1200 paid cash Paid $8000 cash to accounts payable for inventory (14) Record ad ustment office furniture depreciated of $300 Record adjustment of one month of insurance used $100 Record adjustment of $1500 for wages incurred learned but not yet paid 39 40 6 7 42 4) 9 10 LG