i need help making journal entries for this

January 2016 Transactions:

01 A 5-year, 5% note was issued to purchase an existing 4,000 square foot building on an acre of land for $105,000 and machinery for factory operations for $20,000. The value of the land was $65,000. The building has an estimated useful life of 20 years and a salvage value of $25,000. The machinery has an estimated useful life of 10 years and a salvage value of $5,000.

01 The company purchased equipment for the retail store for $3,500 with cash. The sales equipment has a useful life of 7 years, with a salvage value of $500.

02 Four new orders for racing bicycles were received, which Bearkat will assign into four jobs as follows:

Job 15: 4 racing bicycles ordered by Brewers Bike Emporium.

Job 16: 5 racing bicycles ordered by the Robinson Roadsters Corporation.

Job 17: 9 racing bicycles ordered by Greens Cyclists.

Job 18: 10 racing bicycles ordered by Millers Masterpieces Inc.

03 Per the lease agreement, which requires the first three months rent be paid in advance, Bearkat Bicycles paid $6,000 to Sunset Run Properties to lease 1,000 square feet of retail space with a check.

03 To fill the orders received, raw materials were purchased for $20,000. Direct materials amounted to $15,000 and indirect materials amounted to $5,000.

04 Materials were requisitioned into production. Below is a summary of the requisition forms:

Requisition No. Job Direct Indirect

123 14 $ 700 $ 275

124 16 $2,500 $ 500

125 17 $3,250 $ 800

05 Paid the accrued payroll from the last two weeks of December 2015.

08 $42 worth of store/office supplies were purchased on account at Office Warehouse.

10 Paid the dividends declared in December with a check.

15 Payroll for the first two weeks of January was paid. The payroll includes the salesperson that worked at total of 80 hours and earns $13.00 per hour, a janitor that only cleans the factory and worked 20 hours and earns $8.50 per hour, and the production supervisor who earns $1,100 a week. Ignore all related payroll taxes. In addition, the following hours were incurred by assembly line workers based on the production time cards for each job:

Job Hours Rate

14 15 $10.00

15 100 $10.00

16 85 $10.00

17 125 $10.00

16 Additional materials needed and requisitioned into production are as follows:

Requisition No. Job Direct Indirect

126 16 $2,500 $ 320

127 18 $3,050 $ 225

16 Apply factory overhead to jobs 14, 15, 16, and 17. Overhead is allocated based on direct labor costs. Budgeted overhead costs for the year were estimated to be $33,000 Bearkat estimates that direct labor costs will amount to $15,000 for the year.

16 Jobs 14, 16, and 17 were completed and transferred to the warehouse.

18 More materials were needed and $9,000 of direct materials were purchased on account.

19 Requisitioned materials for jobs in the following amounts:

Requisition No. Job Direct Indirect

128 15 $2,400 $ 700

129 18 $8,900 $ 1,100

20 Bearkat Bicycles received several items in the mail on this day including a check for $8,000 from Phils Peddlers, a customer on account, and an invoice from the utility company. The invoice, #HE012302016a, was in the amount of $1,650 and is due on January 25^th. The invoice was for the water and electricity used by Bearkat Bicycles in January. The check was deposited into the companys checking account and the invoices were entered into the accounting system into accounts payable. For the utility bill, 70% of the invoice reflects factory use and the other 30% reflects administrative activities.

22 Sold all six bikes from Job 14 to Wukich Warriors for cash. Ignore sales tax.

25 Paid the utility bill with a check.

26 Sold 3 bicycles from Job 16 and all bicycles from Job 17 on account.

29 Payroll for the second two weeks of January consists of the salesperson that worked at total of 80 hours and earns $13.00 per hour, the janitor that only cleaned the factory and worked 28 hours and earns $8.00 per hour, and the production supervisor who now earns $1,100 a week. The payroll will be paid on February 1^st. Ignore all related payroll taxes. In addition, the following hours were incurred by assembly line workers based on the production time cards for each job:

Job Hours Rate

15 90 $10.00

18 150 $10.00

29 Apply factory overhead to jobs on Jobs 15 and 18.

30 Job 15 was completed and transferred to the warehouse.

30 A check for $42 is written to Office Warehouse for previous purchases on account.

31 The first note payment of $6,604 is made to the First Bank of Huntsville, which includes $6,250 in interest.

31 The company declares a cash dividend of $0.30 per share. The dividend will be paid next month.

Assets
Current assets:
Cash						$ 32,366
Accounts receivable						18,944
Direct materials Inventory						3,000
Indirect materials Inventory						2,415
WIP Inventory						5,226
Store Supplies						26
Total current assets								61,977
Property, plant, and equipment:
Factory Tools					$ 10,125
Accumulated depreciation - Tools					(78)	10,047
Total property, plant, and equipment								10,047
Total assets								$ 72,024
Liabilities
Current liabilities:
Accounts payable						$ 2,900
Dividends payable						1,000
Wages payable						1,874
Total current liabilities								5,774
Total liabilities								5,774
Stockholders' Equity
Common stock						50,000
Retained earnings						16,250
Total stockholders' equity								66,250
Total liabilities and stockholders' equity								$ 72,024
Bearkat Bicycles Statement of Cash Flows For the month ended December 31, 2015
Cash flows from operating activities:
Net income						$ 16,450
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation					$ 78
Changes in current operating assets and liabilities:
Increase in accounts receivable					(18,944)
Increase in inventories					(10,667)
Increase in accounts payable					2,900
Increase in wages payable					1,874
Increase in Other payable					800
Net cash used from operating activities								$ (7,509)
Cash flows used for investing activities:
Purchased tools						(10,125)
Net cash used from investing activities								(10,125)
Cash flows from financing activities:
Issued stock						50,000
Net cash provided by financing activities								50,000
Net increase in cash								32,366
Cash at the beginning of the year								-
Cash at the end of the year								$ 32,366