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Date Transaction a. 1-Jul Purchased $100,000 of additional machinery with cash. b. 24-Jul Issued a secondary offering: Sold an additional 10,000 shares of common, $20

Date

Transaction

a.

1-Jul

Purchased $100,000 of additional machinery with cash.

b.

24-Jul

Issued a secondary offering: Sold an additional 10,000 shares of common, $20 par, stock for $25 per share.

c.

15-Aug

Paid $5,000 cash for electrical maintenance

d.

16-Sep

Received $24,000 cash in unearned revenue that will be completed in 3 bi-monthly installments.

e.

1-Oct

Prepaid $1,200 in future equipment maintenance that will occur in 6-monthly installments.

f.

1-Oct

Borrows $100,000 at 6% annual rate.

h.

1-Nov

Incurs $200 of equipment maintance for the month.

i.

16-Nov

Earns $8,000 in revenues. Completes $8,000 of services owed to customers who prepaid on 16 Sep.

j.

1-Dec

Incurs $200 of euipment maintance for the month.

k.

15-Dec

Declared and paid $85,000 in dividends declared on 30 Oct.

l.

31-Dec

Paid entire loan balance from 1 Oct.

End of year adjustments:

m.

31-Dec

Supplies balance is $4,000 (these are supplies needed for operations, not for the production of a good).

n.

31-Dec

Wages earned, but not yet paid, $30,000

o.

31-Dec

Federal Corporate Income Tax Expense, $50,000

p

31-Dec

Depreciation that has occurred on depreciable assets (land, equipment, machinery and other assets) is $40,000

Need help creating General Journal, T-Accounts, and Income Statement and Statement of Equity on excel.

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