can you fill out the Journal Entry ( the first row is an example how to fill it out)

	Journal Entry Summary
	DCC	Cash	A/R	Parts	Finished Goods	A/P	LTD	CS	RE	Paid-in-Surplus
		$11,300	$1,000	$600	$6,000	$500	$8,000	$4,000	$1,400	$5,000
Total Assets		$0				Total Liabilities&Equity			$0

The balance sheet of DCC Corp., as of the end of Quarter 2, is provided below.

Assets

Liab. & Owners Equity

Cash

$11,300

Accounts payable

$500

A/R

$1,000

Inventory

Long-term debt

$8,000

parts

$600

Common Stock

$4,000

finished goods

$6,000

($2 par value)

Paid-in-surplus

$5,000

Retained Earnings

$1,400

Total Assets

$18,900

Liab. & Owners Equity

$18,900

During Quarter 3:

DCC purchased $3000 worth of parts, $1400 with cash, the remainder to be paid in Quarter 4.

Sold 6 computers, each for $750.

4 were sold for cash, 2 were sold on credit with payment to be received in Quarter 4.

The gross margin was 36%

Annual interest rate on LTD was 3.2%. Interest is paid and expensed quarterly.

SG&A expenses = $600 was paid in Quarter 3

The tax rate is 35% and Quarter 3 taxes will be paid in Quarter 4

The dividend payout ratio (dividends/Net Income) is 30% (paid immediately)

200 new shares of common stock were issued and sold for $1200 in Quarter 3

Purchased the warehouse DCC is located in for $20,000 cash on the first day of Quarter 3

$12,000 long-term debt was issued on the first day of the quarter

The warehouse will be depreciated over 20 years. Depreciation is expensed quarterly. (Hint: Depreciated with straight line, i.e., every period the same amount. There are 20*4=80 periods, since quarterly for 20 years).

Income Statement
	Quarter 3
Sales	$4,500
COGS	$1,620
SG&A	$600
Dep Exp	$250
Operating Profit	$2,030
Interest Expense	$64
Income Before Tax	$1,966
Provision For Tax	($327)
Net Income	$1,639
Dividends	($182)
Retained Earnings	$1,457

Balance Sheet
Asset		Quarter 2	Quarter 3
Cash		$11,300	$11,300
Account Receivable		$1,000	$1,000
Inventory
	Parts	$600	$600
	Finish Goods	$6,000	$6,000
Total Current Asset		$18,900	$18,900
Warehouse		$0	$20,000
Total Assets		$18,900	$38,900

Liabilities & Equity
		Quarter 2	Quarter 3
Account payable		$500	$500
Tax Payable		$0	$0
Long term debt		$8,000	$20,000
Total Liability		$8,500	$20,500
Common Stock		$4,000	$4,000
Retained Earnings		$1,400	$9,400
Paid-in-Surpus		$5,000	$5,000
Total Liabilities & Equity		$18,900	$38,900

Statement of Cash Flow
	Quarter 3
Net Income	$1,639
Increase in Parts	$0
Decreased Finished Goods	$0
Depreciation	$250
Increase in receivable	$0
Increase in payable	$0
Increase in tax payable	$327
Cash flow from operations	$2,216
Purchase warehouse	($20,000)
Cash flow from investing	($20,000)
Sale of bonds	$0
Issuing Common Stock	$1,200
Cash dividends	($182)
Cash flow from financing	$1,018
Cash flow from operations	$2,216
Cash flow from investing	($20,000)
Cash flow from financing	$1,018
Total Cash Flow	($16,776)
Beginning Cash	$11,300
Total Cash Flow	($16,776)
End	($5,466)

That is everything in the excel