I need help with making sure I did the journal entries correctly. I would like to double check before turning it in. I provided thw background information as well.

Chart of Accounts Assets 1000 Cash 1100 Accounts Receivable 1250 Direct Materials Inventory 1260 Indirect Materials inventory 1270 Work in Process Inventory 1280 Finished Goods Inventory 1300 Office Supplies 1400 Prepaid Rent 1500 Factory Tools 1510 Accumulated Depreciation Factory Tools 1700 Building 1710 Accumulated Depreciation Building sat e 1900 Land CADO Liabilities 2000 Accounts Payable 2100 Utilities Payable 2300 Wages Payable 2400 Dividends Payable 2700 Notes Payable Stockholders' Equity 3000 Common Stock 3500 Retained Earnings 3600 Cash Dividends DOO Revenues 4000 Sales Revenue 2 Expenses 5000 Cost of Goods Sold 5500 Factory Overhead 6200 Office Supplies Expense 6300 Rent Expense 6500 Utilities Expense 6600 Wages Expense 6700 Depreciation Expense 6800 Interest Expense Bearkat Bicycles Balance Sheet December 31, 2020 Assets 37,453 18,100 2,000 450 1,100 Current assets: Cash Accounts receivable Direct Materials Inventory Indirect Materials Inventory Work in Process Finished Goods Office Supplies Total current assets Property, plant and equipment: Factory Tools Accumulated Depreciation Total property, plant, and equipment Total assets 65 $ 59,168 $ 10,125 (28) 10,047 $ 69,215 8,750 1,250 $ 10,000 $ 10,000 Liabilities Current liabilities: Accounts payable Wages payable Total current liabilities Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 50,000 9215 59,215 $ 69,215 January 2021 Transactions: 01 Per the lease agreement, which requires the first three months' rent be paid in billo advance, Bearkat Bicycles paid $6,600 to Sunset Run Properties to lease 1,000 square feet of retail space. 01 A 10-year note was issued to purchase an existing 3,900 square foot building on an acre of land for $105,000. The value of the land was only $50,000. The building has an estimated useful life of 20 years and a salvage value of $9,400. 02 Raw materials for production totaling $37,500 were purchased on account. Direct materials amounted to $34,400 and indirect materials amounted to $3,100. 04 The production department requisitioned materials for the jobs in the following amounts: Requisition No. Job Direct Indirect 20 14 $ 610 $ 15 21 15 $1,425 $ 15 22 -$2,400 $ 25 Bearkat Bicycles received $16,100 owed from a customer, The Huntsville Hotshots, and deposited this amount into the company's checking account. 05 Paid the accrued payroll from the last two weeks of December 2020. 10 Requisitioned more materials for jobs in progress in the following amounts: Requisition No. Job Direct Indirect 23 Blo 15 $1,860 le $ 19 24 16 $2,720 $ 21 25 17 $5,905 $ 25 TE 26 18 $1,420 $ 23 16 05 15 Invoice for $400 from Huntsville Water & Electric is received and due February 10th. The invoice includes the water and electricity used by Bearkat Bicycles. Assume 58% of the invoice reflects factory use and the other 42% reflects administrative activities. PENS 5 The company declares and pays a cash dividend of $.39 per share. 20 22 30 The first note payment of $4,238 is made to the First Bank of Huntsville, which Includes $3,938 in interest. Employees are paid monthly on the 5th of every month. Accrue the payroll for the entire month of January, which will be paid on February 5th. The payroll includes the sales and administrative staff that worked a total of 60 hours and earns $12.50 per hour, the part-time factory maintenance worker that worked a total of 50 hours and earns $10.00 per hour, the production supervisor earns $700 a week (assume an even four weeks was worked). 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 10 $10 Rate $10 14 15 16 17 $10 77 90 100 27 $10 2 18 $100 30 Apply factory overhead to all jobs (14, 15, 16, 17, & 18). Overhead is allocated based on direct labor costs. Budgeted overhead costs for the year were estimated to be $46,000. Bearkat estimates that direct labor costs will amount to $115,000 for the year. 30 Jobs 14, 15, and 16 were completed and transferred to the warehouse. 30 Sold all bikes from Job 14 and Job 15, and 6 bicycles from Job 16 on account. Ignore sales tax. 31 Job 17 was completed and transferred to the warehouse. Check figures: Cash $37,565 Want mon bono Indirect Materials 3,407 now bubbly Work in Process 1,798 Solomon Wages Payable 7,090 Factory Overhead 2,459 Unit cost for Job 16 708.89 vibes Background Information soibsizabyale 5598 In 2020, Sammy Bearkat opened a bicycle manufacturing business named Bearkat Bicycles. Sammy Bearkat, the sole stockholder, invested $50,000 for 10,000 shares of common stock in December. The company currently manufactures and sells racing bicycles for $2,350 to customers in Huntsville, Texas and its surrounding areas. His business has become so successful that Sammy can no longer build the bicycles out of his garage; thus, he has decided to expand his business. To meet demand, he has hired eight employees including a production supervisor, a salesperson, and an administrative assistant. The company has just signed a one-year lease with a local broker for downtown retail space. The company has one order (Job 14) that was started on December 15, 2020 for 3 racing bicycles that are still in process but will be completed in the next month. Bearkat Bicycles uses a manual accounting system and a chart of accounts has been provided. They've received four new orders for racing bicycles, which Bearkat will assign into four jobs as follows: W o Job 15: 6 racing bicycles ordered by Morris Masterpieces, Inc. o Job 16:9 racing bicycles ordered by the Amazing Aspen Cyclists. o Job 17: 10 racing bicycles ordered by Robinson Roadsters, Inc. o Job 18: 8 racing bicycles ordered by Barker's Bike Emporium. baliano samo di ni shida an 169nar o molt bono blas G95299291 oshta Isme 32020 do svi no xo do libros 215 2200 dolno Joni obbns ISOSE sunt sled led bascum 1550 E nivonds as to whom tot buns 200 to $200 to sluba s 130990 Sos Stivendo con ob bristo Chart of Accounts Assets 1000 Cash 1100 Accounts Receivable 1250 Direct Materials Inventory 1260 Indirect Materials inventory 1270 Work in Process Inventory 1280 Finished Goods Inventory 1300 Office Supplies 1400 Prepaid Rent 1500 Factory Tools 1510 Accumulated Depreciation Factory Tools 1700 Building 1710 Accumulated Depreciation Building sat e 1900 Land CADO Liabilities 2000 Accounts Payable 2100 Utilities Payable 2300 Wages Payable 2400 Dividends Payable 2700 Notes Payable Stockholders' Equity 3000 Common Stock 3500 Retained Earnings 3600 Cash Dividends DOO Revenues 4000 Sales Revenue 2 Expenses 5000 Cost of Goods Sold 5500 Factory Overhead 6200 Office Supplies Expense 6300 Rent Expense 6500 Utilities Expense 6600 Wages Expense 6700 Depreciation Expense 6800 Interest Expense Bearkat Bicycles Balance Sheet December 31, 2020 Assets 37,453 18,100 2,000 450 1,100 Current assets: Cash Accounts receivable Direct Materials Inventory Indirect Materials Inventory Work in Process Finished Goods Office Supplies Total current assets Property, plant and equipment: Factory Tools Accumulated Depreciation Total property, plant, and equipment Total assets 65 $ 59,168 $ 10,125 (28) 10,047 $ 69,215 8,750 1,250 $ 10,000 $ 10,000 Liabilities Current liabilities: Accounts payable Wages payable Total current liabilities Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 50,000 9215 59,215 $ 69,215 January 2021 Transactions: 01 Per the lease agreement, which requires the first three months' rent be paid in billo advance, Bearkat Bicycles paid $6,600 to Sunset Run Properties to lease 1,000 square feet of retail space. 01 A 10-year note was issued to purchase an existing 3,900 square foot building on an acre of land for $105,000. The value of the land was only $50,000. The building has an estimated useful life of 20 years and a salvage value of $9,400. 02 Raw materials for production totaling $37,500 were purchased on account. Direct materials amounted to $34,400 and indirect materials amounted to $3,100. 04 The production department requisitioned materials for the jobs in the following amounts: Requisition No. Job Direct Indirect 20 14 $ 610 $ 15 21 15 $1,425 $ 15 22 -$2,400 $ 25 Bearkat Bicycles received $16,100 owed from a customer, The Huntsville Hotshots, and deposited this amount into the company's checking account. 05 Paid the accrued payroll from the last two weeks of December 2020. 10 Requisitioned more materials for jobs in progress in the following amounts: Requisition No. Job Direct Indirect 23 Blo 15 $1,860 le $ 19 24 16 $2,720 $ 21 25 17 $5,905 $ 25 TE 26 18 $1,420 $ 23 16 05 15 Invoice for $400 from Huntsville Water & Electric is received and due February 10th. The invoice includes the water and electricity used by Bearkat Bicycles. Assume 58% of the invoice reflects factory use and the other 42% reflects administrative activities. PENS 5 The company declares and pays a cash dividend of $.39 per share. 20 22 30 The first note payment of $4,238 is made to the First Bank of Huntsville, which Includes $3,938 in interest. Employees are paid monthly on the 5th of every month. Accrue the payroll for the entire month of January, which will be paid on February 5th. The payroll includes the sales and administrative staff that worked a total of 60 hours and earns $12.50 per hour, the part-time factory maintenance worker that worked a total of 50 hours and earns $10.00 per hour, the production supervisor earns $700 a week (assume an even four weeks was worked). 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 10 $10 Rate $10 14 15 16 17 $10 77 90 100 27 $10 2 18 $100 30 Apply factory overhead to all jobs (14, 15, 16, 17, & 18). Overhead is allocated based on direct labor costs. Budgeted overhead costs for the year were estimated to be $46,000. Bearkat estimates that direct labor costs will amount to $115,000 for the year. 30 Jobs 14, 15, and 16 were completed and transferred to the warehouse. 30 Sold all bikes from Job 14 and Job 15, and 6 bicycles from Job 16 on account. Ignore sales tax. 31 Job 17 was completed and transferred to the warehouse. Check figures: Cash $37,565 Want mon bono Indirect Materials 3,407 now bubbly Work in Process 1,798 Solomon Wages Payable 7,090 Factory Overhead 2,459 Unit cost for Job 16 708.89 vibes Background Information soibsizabyale 5598 In 2020, Sammy Bearkat opened a bicycle manufacturing business named Bearkat Bicycles. Sammy Bearkat, the sole stockholder, invested $50,000 for 10,000 shares of common stock in December. The company currently manufactures and sells racing bicycles for $2,350 to customers in Huntsville, Texas and its surrounding areas. His business has become so successful that Sammy can no longer build the bicycles out of his garage; thus, he has decided to expand his business. To meet demand, he has hired eight employees including a production supervisor, a salesperson, and an administrative assistant. The company has just signed a one-year lease with a local broker for downtown retail space. The company has one order (Job 14) that was started on December 15, 2020 for 3 racing bicycles that are still in process but will be completed in the next month. Bearkat Bicycles uses a manual accounting system and a chart of accounts has been provided. They've received four new orders for racing bicycles, which Bearkat will assign into four jobs as follows: W o Job 15: 6 racing bicycles ordered by Morris Masterpieces, Inc. o Job 16:9 racing bicycles ordered by the Amazing Aspen Cyclists. o Job 17: 10 racing bicycles ordered by Robinson Roadsters, Inc. o Job 18: 8 racing bicycles ordered by Barker's Bike Emporium. baliano samo di ni shida an 169nar o molt bono blas G95299291 oshta Isme 32020 do svi no xo do libros 215 2200 dolno Joni obbns ISOSE sunt sled led bascum 1550 E nivonds as to whom tot buns 200 to $200 to sluba s 130990 Sos Stivendo con ob bristo