Chapter 2 Graded Homework Assignment saved Saved Help Save & Exit Submit 10 Check my work 4 Required information (The following information applies to the questions displayed below. Part 2 of 3 Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: 20 points Skipped Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $ 27,000 Accounts payable 3,000 Accrued liabilities payable 4,400 Notes payable (current) 34,000 Notes payable (noncurrent) 2,500 Common stock 52,000 Additional paid-in capital 104,000 Retained earnings 3,200 $19,000 2,900 6,300 42,000 10,600 95,400 53,900 eBook Print During the current year, the company had the following summarized activities: References a. Purchased short-term investments for $9,000 cash. b. Lent $5,700 to a supplier who signed a two-year note. c. Purchased equipment that cost $22,000; paid $5,900 cash and signed a one-year note for the balance. d. Hired a new president at the end of the year. The contract was for $88,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. e. Issued an additional 2,900 shares of $0.50 par value common stock for $16,000 cash. f. Borrowed $14,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $1,700 cash. h. Built an addition to the factory for $23,000; paid $8,600 in cash and signed a three-year note for the balance. i. Returned defective equipment to the manufacturer, receiving a cash refund of $2,000. 20 points 4. Prepare a trial balance at December 31 of the current year. Skipped JAGUAR PLASTICS COMPANY Trial Balance At December 31 Debit Credit eBook Account Titles Cash Print References Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles Accounts payable Accrued liabilities payable Notes payable (current) Notes payable (noncurrent) Common stock Additional paid-in capital Retained earnings Totals 0 0