College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1 $ 8,300 1,960 400 600 730 110 1.380 300 Cash Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Rent Expense Salaries and Wages Expense Depreciation Expense Income Tax Expense office Expenses 5,600 3,000 13, 110 7,300 1,100 1,800 110 0 1,200 The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 1,000 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.40. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method. During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below. a. Purchased 400 coasters on account from the regular supplier on 12/1 at a unit cost of $0.42, with terms of 1/60. b. Purchased 900 coasters on account from the regular supplier on 12/2 at a unit cost of $0.45, with terms of n/60. c. Sold 1,800 coasters on account on 12/3 at a unit price of $1.00. Pallarta tonn fram muietamare An An An 1914 5 KEY.pdf Naci ook Pro equirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis repare the journal entries to record the transactions (a) through (n). Review the accounts as show alance tabs. (If no entry is required for a transaction/event, select "No journal entry required" in View transaction list Journal entry worksheet 3 5 6 7 8 B.... 15 Sold 1,800 coasters on account on 12/3 at a unit price of $1. Record the transaction. Note: Enter debits before credits. Date Debit Credit General Journal Accounts Receivable Dec 03 Record entry Clear entry View general journal BOB KEY.pdf MacBook Pro ework Saved Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries to record the transactions (a) through (n). Review the accounts as show Balance tabs. (If no entry is required for a transaction/event, select "No journal entry required" in View transaction list Journal entry worksheet Record the cost of goods sold. Note: Enter debits before credits. Date Debit Credit Dec 03 General Journal Cost of Goods Sold Inventory Record entry Clear entry View general journal 9 KEY.pdf MacBook Pro Journal entry worksheet B. KEY.pdf MacBook Pro Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries to record the transactions (a) through (n). Review the accounts as she Balance tabs. (If no entry is required for a transaction/event, select "No journal entry required" in View transaction list Journal entry worksheet 1 5 6 7 8 9 10 HER 15 The company estimates that the equipment depreciates at a rate of $9 per month. One month of depreciation needs to be recorded. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal A KEY.pdf MacBook Pro al entry worksheet ation.co TopHat Roar Portal ACCT 2010 PAL Leader Website Kronos C Chegg Canvas Zoom b Bill Highway Fa Homework Saved WEITERER Journal TUURI Requirement Trial Balance Balance Sheet Ledger Statement Analysis Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. However, you will need to enter the amount of the Equipment (Net of accumulated depreciation), Common stock and Retained earnings as of December 31. Unadjusted COLLEGE COASTERS Balance Sheet As of December 31 0 0 0 0 0 0 O O O $ 0
