Hello,

Need assistance recording each of the events for 2013 in T-accounts and determining the ending balances. Using the information below I'm unable able to input the correct values and have them balance out on the Trial Balance table.

During the year 2013, Johnson Company had the following summarized activities: For each recording (posting), include the identifying letter (a through i).

a.) Purchased short-term investments for $10,000 cash.

b.) Lent $8,000 to a supplier who signed a three-year note.

c.) Purchased equipment that cost $28,000; paid $4,000 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 $110,000 per year plus options to purchase company stock at a set price based on company performance.

e.) Issued an additional 1,000 shares of capital stock for $12,000 cash.

f.) Borrowed $20,000 cash from a local bank, payable in three months.

g.) Purchased a patent (an intangible asset) for $4,000 cash.

h.) Built an addition to the factory for $45,000; paid $10,000 in cash and signed a three-year note for the balance.

i.) Returned defective equipment to the manufacturer, receiving a cash refund of $1,000.

Investments (S-T) Debit Johnson Company Trial Balance Contributed Capital Intangibles Debit $3,000 Credit $90,000 $12,000 (e) $102,000 Credit Debit Credit 31-Dec-1:3 Credit Debit $14,000 $6,000 Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles Accounts payable Accrued liabilities payable Notes payable (short-term) Long-term notes payable Contributed capital Retained earnings $7,000 Notes Receivable (L-T) Notes Payable (L-T) Debit Factory Building Debit Debit Credit Credit Credit $9,000 0 $135,000 Cash Equipment Debit Credit Notes Payable (S-T) Debit Debit Credit $9,000 Credit $1,000 (i) $51,000 0 Totals 6,000 - -$51,000 $6,000 Check total shold be $281,000 Accounts Payable Credit Accounts Receivable Debit Debit Credit $13,000 Liabilities Payable Credit Inventory Debit Debit Credit $22,000