Economic Activities and Accounting Information (2) OverPriced Jeans, Inc, is a merchandising company, which specialiass in toand mame overpriced jeans. The company buys jeans from various clothing manufucturers ancead the world and sells the jeans to various spocialty stores at the marked-up prices. - On Ficbruary 1, the company paid \$4.000 cash froen its Bis Busk accoet for Febrary warchouse rent. - On February 4 , the company sold jeans, which cost the conpany 510,900 when acquired, for 556,900 to a castomer. The customer paid exh, drposited in Big Rank. - On February 7. the company took $13,000 cash from its Lirlle Ba+k account and paid enpioyees for wages they have earsed. - On February 15, the company sold jeans for 578,900 to a causener, abo promised bo pay in the future. These jeans cost the compaty $14,000 when acenitod. - On Feteuary 18, the compatry sold jeas for $100,000 to a customer, whe paid $30,000 and promived to pay the rest in the future. And these jains cost the company $21,000., - On Febcuary 22, the company acquired additional jeans and puil 517,000 cash from its Big Ba-k account. - On Febrary 27, the company paid ins employeen' wagas of 523 , 000 finte ist Little Bank acconnt. - On February 28, Big Hank charged the compary $525 for lose atatal of February. The company flarend to pay in June. - On Pobruary 28. Litile Batk chaped the compuny $300 for loas iatariz of Februiry. The company planned is pay i= March. Riequirements: 1. Usiag the rxtended accountiog equicen, analyne above bus teni teatcactints 2. Propure joenal entries and T-acciunts for above tranactices. 3. Prepare ise company"'s lecome saiement. And afiver. For the mod of Fatray, bow 4. Frapare the compuny's bulance weet. And atswer By end of Fehrory whe was the ameune of Overfriced Jeam" wert Liability? And is ownen' thaity? Economic Activities and Accounting Information (2) OverPriced Jeans, Inc, is a merchandising company, which specialiass in toand mame overpriced jeans. The company buys jeans from various clothing manufucturers ancead the world and sells the jeans to various spocialty stores at the marked-up prices. - On Ficbruary 1, the company paid \$4.000 cash froen its Bis Busk accoet for Febrary warchouse rent. - On February 4 , the company sold jeans, which cost the conpany 510,900 when acquired, for 556,900 to a castomer. The customer paid exh, drposited in Big Rank. - On February 7. the company took $13,000 cash from its Lirlle Ba+k account and paid enpioyees for wages they have earsed. - On February 15, the company sold jeans for 578,900 to a causener, abo promised bo pay in the future. These jeans cost the compaty $14,000 when acenitod. - On Feteuary 18, the compatry sold jeas for $100,000 to a customer, whe paid $30,000 and promived to pay the rest in the future. And these jains cost the company $21,000., - On Febcuary 22, the company acquired additional jeans and puil 517,000 cash from its Big Ba-k account. - On Febrary 27, the company paid ins employeen' wagas of 523 , 000 finte ist Little Bank acconnt. - On February 28, Big Hank charged the compary $525 for lose atatal of February. The company flarend to pay in June. - On Pobruary 28. Litile Batk chaped the compuny $300 for loas iatariz of Februiry. The company planned is pay i= March. Riequirements: 1. Usiag the rxtended accountiog equicen, analyne above bus teni teatcactints 2. Propure joenal entries and T-acciunts for above tranactices. 3. Prepare ise company"'s lecome saiement. And afiver. For the mod of Fatray, bow 4. Frapare the compuny's bulance weet. And atswer By end of Fehrory whe was the ameune of Overfriced Jeam" wert Liability? And is ownen' thaity
