HELP PLEASE!

Jordan Manufacturing Company experienced the following accounting events during its first year of operation. With the exception of the adjusting entries for depreciation, assume that all transactions are cash transactions and that financial statement data are prepared in accordance with GAAP.

1. Acquired $52,000 cash by issuing common stock.
2. Paid $7,400 for the materials used to make its products, all of which were started and completed during the year.
3. Paid salaries of $4,000 to selling and administrative employees.
4. Paid wages of $6,600 to production workers.
5. Paid $5,500 for furniture used in selling and administrative offices. The furniture was acquired on January 1. It had a $1,100 estimated salvage value and a four-year useful life.
6. Paid $12,400 for manufacturing equipment. The equipment was acquired on January 1. It had a $1,300 estimated salvage value and a three-year useful life.
7. Sold inventory to customers for $25,700 that had cost $13,400 to make.

Required

Indicate how these events would affect the balance sheet and income statement by recording them in a horizontal financial statements model as indicated here. The first event is recorded as an example. (Enter any decreases to account balances with a minus sign. For changes on the Statement of Cash Flows, indicate whether the item is an operating activity (OA), investing activity (IA), financing activity (FA).)

Jordan Manufacturing Company experienced the following accounting events during its first year of operation. With the exception of the adjusting entries for depreciation, assume that all transactions are cash transactions and that financial statement data are prepared in accordance with GAAP. 1. Acquired $52,000 cash by issuing common stock. 2. Paid $7,400 for the materials used to make its products, all of which were started and completed during the year 3. Pald salaries of $4,000 to selling and administrative employees. 4. Paid wages of $6,600 to production workers, S. Paid $5.500 for furiture used in selling and administrative offices. The furniture was acquired on January 1, it had a $1,100 estimated salvage value and a four-year useful life. 6. Paid $12,400 for manufacturing equipment. The equipment was acquired on Januaryt. It had a $1.300 estimated salvage value and a three-year useful life. 7. Sold Inventory to customers for $25,700 that had cost $13,400 to make Required Indicate how these events would affect the balance sheet and income statement by recording them in a horizontal financial statements model as indicated here. The first event is recorded as an example. (Enter any decreases to account balances with a minus sign. For changes on the Statement of Cash Flows, Indicate whether the item is an operating activity (OA). Investing activity 11A), financing activity (FA) Answer is not complete. Balance Sheet Ansat Event No. Cash Flow Cash Inventory . UV Manut E UV Office Fur - Netine FA 74001 00 6.600+ 52.000 7400) (4.000) 16,600) - 15.500) 001 112.400) O. 25.700. O. Recome Statement Stockholders' Equity Common + Ret Ray. stock Ear Exp 52.000 00 00 OO- 001- 0. 14.0001 4,000 OO 00 DOI. 0 OO- 00 11.100) GO- 1,100 - 00 00- DO 11.300) DO- 00 25,700 25.700 - . (13.4001 13,000 - $2.000 . 3,000 25.700 18.500 O. 00 00 OO O. 12.400 15,000) O. OO- 0. O- 5.500 (1.1001 - DO 0 ale ale le 3 01 00. OO 52.000 (7,400) 14.000 14.000) 00 06.000) oe 18.500) (1.100) o (12,400) o 00 25.700 25700 113.400) 7.200 41.00 GO . - 113.40011 600 41.800 7.400 . 4.400