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Required information [The following information applies to the questions displayed below.] Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash $22,000 Accounts payable $15,000 Investments (short-term) Accounts receivable 4,000 3,000 Accrued liabilities payable 3,000 Notes payable (current) 20,000 Notes payable (noncurrent) 1,000 Common stock 7,000 Inventory 47,000 Notes receivable (long-term) 10,000 Equipment 80,000 Factory building 50,000 Additional paid-in capital 90,000 Retained earnings 5,000 31,000 Intangibles During the current year, the company had the following summarized activities: a. Purchased short-term investments for $10,000 cash.. b. Lent $5,000 to a supplier, who signed a two-year note. c. Purchased equipment that cost $18,000; paid $5,000 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 $85,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. e. Issued an additional 2,000 shares of $0.50 par value common stock for $11,000 cash. f. Borrowed $9,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $3,000 cash. h. Built an addition to the factory for $24,000; paid $8,000 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. Required: 1. & 2. Post the current year transactions to T-accounts for each of the accounts on the balance sheet. (Two items have been given in couples examples! 1 of 4 the cash 1-account as examples. Cash Beg. Bal. 22.000 (e) 11,000 (0) 9,000 1,000 12,000 Accounts Receivable 3,000 3,000 Notes Receivable (long-term) 1,000 5,000 6,000 Factory Building 90,000 24,000 (0) End. Bal. Beg. Bal End. Bal. Beg. Bal (b) End, Bal Beg. Bal. (h) 000 10,000 (a) 5,000 (b) 5,000 (c) 3,000 (9) 8,000 (h) *** Answer is not complete. Beg. Bal. End. Bal. Beg. Bal End. Bal. Beg. Bal End. Bal. Beg. Bal Investments (short-term) 3,000 3,000 S Inventory 20,000 20,000 Equipment 50,000 50,000 Intangibles 5,000 E www Required information Beg. Bal. (h) End. Bal. Beg. Bal, End. Bal. Beg. Bal. (b) End. Bal.. Beg. Bal. End. Bal. Beg. Bal. Factory Building 90,000 24,000 114,000 Accounts Payable 15,000 15,000 Notes payable (current) 7,000 7,000 Common Stock 10,000 11,000 21,000 Retained Earnings 31,000 (e) Beg. Bal. End. Bal. Beg. Bal. End. Bal. Beg. Bal. End. Bal. Beg. Bal. End. Bal. Intangibles 5,000 5,000 Accrued Liabilities Payable 4,000 4,000 Notes payable (noncurrent) 47,000 47,000 Additional Paid-in Capital 80,000 11,000 (e) 91,000 166 points End Bal Beg. Bal (b) End Bal Beg. Bal End. Bal Beg Bal. End. Bal 15.000 Notas payable (current) 7,000 7.000 Common Stock Retained Earnings 10,000 11,000 (e) 21,000 31,000 31,000 End. Bal. Beg. Bal. End Bal Beg Bal End Bal 4,000 Notes payable (noncurrent) 47.000 47,000 Additional Paid-in Capital 80,000 11,000 (0) 91,000 >