ge O'Hura Company had the following information available at the end of 2020: Income Statement For the Year Ending on December 31, 2020 Sales COGS Expense Gross Profit $198,500 79,600 $118,900 Operating Expenses: Depreciation $11,600 Salaries 34,600 Insurance 18,900 Rent 24,700 Utilities 9.800 Total Operating Expenses Operating Income Other Revenues/Gains: Gain on Sale of Plant Assets 99,600 $19,300 1,800 Other Expenses/Losses: Interest Expense $1,600 Loss on Sale of Marketable Securities 4.700 (6.300) Income Before Taxes $14,800 Income Tax Expense 1.500 Net Income $13,300 Loss on Sale of Marketable Securities 4,700 (6,300) Income Before Taxes $14,800 Income Tax Expense 1,500 Net Income $13,300 The following additional information is also available: 1. Common stock with a par value of $10,000 was issued for $19,400 cash. 2. Plant assets costing $168,300 were purchased by paying $93,300 in cash and signing a $75,000 note payable for the balance. 3. Cash dividends of $27,500 were declared and paid. 4. Bonds payable with a face value of $80,000 were issued for $80,000 cash. 5. Marketable securities costing $16,700 were sold for $12,000 cash. 6. Plant assets costing $34,000 with accumulated depreciation of $29,800 were sold for $6,000 cash. 7. $15,500 of the long-term note payable was paid off. Instructions: In the General Journal and the 1st set of T-accounts for the indirect method: 1. Prepare general journal entries for the investing/financingon-cash transactions in the general journal. 2. Post the transactions to the T-accounts. 3. Complete the operating section using the indirect method. In the 2nd set of T-accounts for the direct method: 1. Using your completed general journal, post the journal entries to the T-accounts. 2. Complete the operating section using the direct method. Be sure to save your completed file. If you used the Excel file, you will upload your completed file in the next question. If you used the .pdf version and can save the three page in a single file, upload your saved file in the next question. If you used the .pdf version and cannot save the pages in a single file. there are 2 additional upload questions at the end of the exam for you to upload your 2 additional pages. Final Exam Workpapers Version A Account Titles General Journal Dr Cr INDIRECT: CASH Accounts Receivable Merchandise Inventory Beg 16,200 Beg 12,300 Beg 18,700 OPERATING End 9.400 End 17.600 Prepaid Insurance Marketable Securities Bec 6.200 Beg $1.600 End 11.900 End 34.900 Accum. Dxpr. 41,400 Bey 23.2001 End End INVESTING: FINANCING: Plant Assets Beg 122.800 End 257.100 Accounts Payable Salaries Payable 10,300 Beg 11,700 Beg 13.600 End 9,000 End Income Taxes Payable Long-Term Notes Payable 5,600 Heg 10.000 Best 12.500 Enl 69,500 End Bonds Payable 10 Cammes Stock Best 50.000 Beg 80.000 800000 End 60,000 End APIC Retained Earnings 25.000 Bey 73.80 Bey 34.400 Find 59.00 Enl DIRECT CASH Accounts Receitable Merchandise Inventors 14,854 DEC DIRECT: CASH Accounts Receivable Merchandise Inventory Beg 16,200 Beg 12,300 Beg 18,700 OPERATING: Cash Receipts From: Cash Payments For: End 9,400 End 17,600 Prepaid Insurance Marketable Securities Beg 6,200 Beg 51,600 End 11.900 End 34,900 Plant Assets Accum, Depr. Beg 122,800 41,400 Beg End 257,100 23.200 End Accounts Payable Salaries Payable 10.300 Beg 11,700 Beg INVESTING: 13.600 End 9.000 End Income Taxes Payable Long-Term Notes Payable 5,600 Beg 10,000 Beg 2.500 End 69,500 End FINANCING: Bonds Payable Common Stock Beg 50,000 Beg 80,000 80,000 End 60,000 End APIC Retained Earnings 25 Best 73,800 Beg End 20.900 34.400 End 59,600 End