Home Insert Page Layout Formulas Data Review View Help Acrobat Search == 11 AA O.A Wrap Text Merge & Center - Mere Center General $ . % S . % . Number Insert Delete Format Garamond BIU. Fone . X + Conditional Format as Cell Formatting Table Styles Styles board 26 for G H Portal Project NCT 30 Maules Computer Depot is a major computer stoce chain with locations scrow North America, Europe and Africa. The company is preparing to report on business actions that occurred in its first year of operations Download the Excel spreadsheet for Computer Depot in the module folder. The spreadsheet includes the following tabs LUG Common stock is issued in exchange for cash in the mount of 30 000 February The company purchases and pay for 300 units of computer replacement parts at a price of $25 per it 700 0 March The company pays eash for one year i n ce policy in the mount of 10,752 March 31st Rent on a retail space for 12 months is paid in the amount of .................. 10.512 pillut Diagnostic tools and testing equipment with a useful life of 2 years in puuhased for cash in the amount of ... 23,460 April 10th PC using supplies purchased on account in the amount or... 4.250 May 15th The company purchases and pay for another out of computer replacement parts at a price of $5 per unit 11.00 Mayo PC repair services are performed on account in the most of...... 10,538 Janels The company pay for advertisements to be us for the next 12 months in the amount of 1,540 June 30th The company issues a 5-year notes pable with their bank for $100.000 and interest an al wie of Interest is due on June Jodh each year and the principal will be paid in full at the end of the year period 100.000 Software installation de grade was e performed on count the amount of 10,799 Jay 31st 120 ms of computer replacement parts are sold fox 575 per with teams 2/10, /30. The sale is coded sine the grous method is the most of free note e for con low m os) ... 9,000 120 35 Harde seplacemences we provided on the most of 980 Apoth The company receive full payment from the customer for the Jallot sale ..... September 15th Vins sem esse performed as the most of 695 September Customer p e cived forces pously provided in the amount of 150 October 13th 136 m s of computer replacement parts se sold for 575 per it with teams 2/10, 1/30. The sale in secoded the gross method in the amount of 10300136 38 October 29th The compareceres para for half of the October 13th sale 5.100 Facts Journal General Ledger Trial Balance IS SEBS CF Ratios M26 X for B C D E F G H The company receives payment for half of the October 13th sale. Equipment onginally purchased on April 1st for $3,000 is sold for $1,500 cash A bookkeeper is used to help the company with daily accounting taxes and annual tax preparation The bookkeeper is paid $4,500 for the previous month's services 28 October 29th 29 November 1st 30 November 15th 31 December 15th 5,100 4,500 2,550 Additional information: 4. PC tuning supplies on hand at the end of the month are as follows: b. The year-end balance reported at the end of the year for the Allowance for Doubtful Accounts is estimated as 2.5% of outstanding receivables at the end of the year c. The Company uses perpetual inventory system and accounts for costs using the Last-In Fust Out cost flow assumption On December 31st, a count of ending inventory reveals that there are 344 units of computer replacement parts on hand. d. All revenue is recorded in the "Sales Revenue account and reported set of cash discounts on the income statement e. The effective interest method is used to amortize bond premiums and discounts f. Adjustments are made at the end of the year for prepaid insurance, cent, advertising, depreciation, and interest expense & The bookkeeper is paid a salary of $4,500 on the 15th of every month. h. The company declared dividends of $700 for the year Anime selling expenses include advertising and supplies expense. All other expenses, other than depreciation and interest expense, are considered general & administrative PARTA Prepare journal entries for each transaction listed above (with descriptions) Post journal entries to the general ledger accounts Prepare an adjusted trial balance. Prepare all necessary adjusting journal entries with descriptions) and post to the general ledger Prepare an adjusted trial balance on December 31st. Prepare clotmg entries, post to the general ledger, and carefowad balances to my Ist of the best rent Facts Journal General Ledger Trial Balance IS SE BS CF Ratios Hohne Insert Page Layout Formulas Data Review View Help Acrobat O Search Garamond - 11-AA BIU.B .A. == LB . 2 Wrap Text Merge & Center. General $ % 1 * 12 888 ard , Font Conditional Format as Cell Formatting Table Styles - Styles Alignment Number X fr B C D E F h. The company declared dividends of $700 for the year 1. Assume selling expenses include advertising and supplies expense. All other expenses, other than depreciation and interest expense, are considered general & administrative JKLMN OUIRED PART A Prepare journal entries for each transaction listed above (with descriptions) Post journal entries to the general ledger accounts Prepare an unadjusted trial balance. Prepare all necessary adjusting journal entries (with descriptions) and post to the general ledger. Prepare an adjusted trial balance on December 31st Prepare closing entries, post to the general ledger, and carryforward balances to January 1st of the next year Prepare the following financial statements on December 31st ignore income taxes): Income Statement (multi-step, see Example 52 in textbook) b. Statement of Stockholders' Equity c. Balance Sheet (classified) d. Statement of Cash Flows (indirect method) Include a ratio analysis of your company and include the industry averages. Refer to Yahoo Finance or a comparable financial site to locate industry averages for your com Liquidity, Solvency, and Profitability, and provide an explanation on what it means to the company (See Chapter 3 in the textbook, pages 128 - 13 and Chapter in the Rename the excel file L aw PartlePrict Option and submit you completed project online Home Insert Page Layout Formulas Data Review View Help Acrobat Search == 11 AA O.A Wrap Text Merge & Center - Mere Center General $ . % S . % . Number Insert Delete Format Garamond BIU. Fone . X + Conditional Format as Cell Formatting Table Styles Styles board 26 for G H Portal Project NCT 30 Maules Computer Depot is a major computer stoce chain with locations scrow North America, Europe and Africa. The company is preparing to report on business actions that occurred in its first year of operations Download the Excel spreadsheet for Computer Depot in the module folder. The spreadsheet includes the following tabs LUG Common stock is issued in exchange for cash in the mount of 30 000 February The company purchases and pay for 300 units of computer replacement parts at a price of $25 per it 700 0 March The company pays eash for one year i n ce policy in the mount of 10,752 March 31st Rent on a retail space for 12 months is paid in the amount of .................. 10.512 pillut Diagnostic tools and testing equipment with a useful life of 2 years in puuhased for cash in the amount of ... 23,460 April 10th PC using supplies purchased on account in the amount or... 4.250 May 15th The company purchases and pay for another out of computer replacement parts at a price of $5 per unit 11.00 Mayo PC repair services are performed on account in the most of...... 10,538 Janels The company pay for advertisements to be us for the next 12 months in the amount of 1,540 June 30th The company issues a 5-year notes pable with their bank for $100.000 and interest an al wie of Interest is due on June Jodh each year and the principal will be paid in full at the end of the year period 100.000 Software installation de grade was e performed on count the amount of 10,799 Jay 31st 120 ms of computer replacement parts are sold fox 575 per with teams 2/10, /30. The sale is coded sine the grous method is the most of free note e for con low m os) ... 9,000 120 35 Harde seplacemences we provided on the most of 980 Apoth The company receive full payment from the customer for the Jallot sale ..... September 15th Vins sem esse performed as the most of 695 September Customer p e cived forces pously provided in the amount of 150 October 13th 136 m s of computer replacement parts se sold for 575 per it with teams 2/10, 1/30. The sale in secoded the gross method in the amount of 10300136 38 October 29th The compareceres para for half of the October 13th sale 5.100 Facts Journal General Ledger Trial Balance IS SEBS CF Ratios M26 X for B C D E F G H The company receives payment for half of the October 13th sale. Equipment onginally purchased on April 1st for $3,000 is sold for $1,500 cash A bookkeeper is used to help the company with daily accounting taxes and annual tax preparation The bookkeeper is paid $4,500 for the previous month's services 28 October 29th 29 November 1st 30 November 15th 31 December 15th 5,100 4,500 2,550 Additional information: 4. PC tuning supplies on hand at the end of the month are as follows: b. The year-end balance reported at the end of the year for the Allowance for Doubtful Accounts is estimated as 2.5% of outstanding receivables at the end of the year c. The Company uses perpetual inventory system and accounts for costs using the Last-In Fust Out cost flow assumption On December 31st, a count of ending inventory reveals that there are 344 units of computer replacement parts on hand. d. All revenue is recorded in the "Sales Revenue account and reported set of cash discounts on the income statement e. The effective interest method is used to amortize bond premiums and discounts f. Adjustments are made at the end of the year for prepaid insurance, cent, advertising, depreciation, and interest expense & The bookkeeper is paid a salary of $4,500 on the 15th of every month. h. The company declared dividends of $700 for the year Anime selling expenses include advertising and supplies expense. All other expenses, other than depreciation and interest expense, are considered general & administrative PARTA Prepare journal entries for each transaction listed above (with descriptions) Post journal entries to the general ledger accounts Prepare an adjusted trial balance. Prepare all necessary adjusting journal entries with descriptions) and post to the general ledger Prepare an adjusted trial balance on December 31st. Prepare clotmg entries, post to the general ledger, and carefowad balances to my Ist of the best rent Facts Journal General Ledger Trial Balance IS SE BS CF Ratios Hohne Insert Page Layout Formulas Data Review View Help Acrobat O Search Garamond - 11-AA BIU.B .A. == LB . 2 Wrap Text Merge & Center. General $ % 1 * 12 888 ard , Font Conditional Format as Cell Formatting Table Styles - Styles Alignment Number X fr B C D E F h. The company declared dividends of $700 for the year 1. Assume selling expenses include advertising and supplies expense. All other expenses, other than depreciation and interest expense, are considered general & administrative JKLMN OUIRED PART A Prepare journal entries for each transaction listed above (with descriptions) Post journal entries to the general ledger accounts Prepare an unadjusted trial balance. Prepare all necessary adjusting journal entries (with descriptions) and post to the general ledger. Prepare an adjusted trial balance on December 31st Prepare closing entries, post to the general ledger, and carryforward balances to January 1st of the next year Prepare the following financial statements on December 31st ignore income taxes): Income Statement (multi-step, see Example 52 in textbook) b. Statement of Stockholders' Equity c. Balance Sheet (classified) d. Statement of Cash Flows (indirect method) Include a ratio analysis of your company and include the industry averages. Refer to Yahoo Finance or a comparable financial site to locate industry averages for your com Liquidity, Solvency, and Profitability, and provide an explanation on what it means to the company (See Chapter 3 in the textbook, pages 128 - 13 and Chapter in the Rename the excel file L aw PartlePrict Option and submit you completed project online
