I need the transaction worksheet completed. I have done it but can not get it to balance this is for problem 10-16 but it uses 10-15 for the transactions and exhibit 10-7 as the worksheet or similar worksheet to use.
ookstore totaled $110.000. and the cost of the books sold was $58,000. ARCH has not ARCH expects that of the $12,000 not collected 13. December 31. Depreciation on ARCH's building Record these transactions and any other required December 31. Book sill oodsing' collected $12,000 of the sales. The balance owed for the inventor was paid. 7 unde in to date, it will collect $10,000. for the year is $40,000. d 963 adjusting entries by showing their impact on the fundamental equation of accounting or journal entries. 10-16. ARCH began the year with the following balances (shown in alphabetical order) in their accounts: 3 $ 27.000 26,000 10.000 Accounts Payable Accounts Receivable, Net Cash Inventory Net Assets with Donor Restrictions Net Assets without Donor Restrictions 25,000 130,000 302,000 Notes Payable 270,000 Pledges Receivable 350,000 Property, Plant, and Equipment, Net 350,000 Wages Payable 32,000 100,000 Record this information and the transactions from Problem 10-15 in a worksheet similar to 30,0 Exhibit 10-7. EXHIBIT TO.7 Transaction Worksheet LAGITIES AND STARTS ASSETS More with Account Hece Intory Intrance SIRGO 10 100 330.000 000 1240.000 57.000 1.000 3.000 3.000 100 2.000 10000 3000 T2 con 3 Trans Tactions action 3.000 OP 12.000 (12.000 1.000 14.000 w Tacob foco EX Diction 40,000 Traction Transaction to 10.000 0.000 w3.000 W Ex Dolce Doo 100 Dansaction 11 27.000 1.000 Transacbon 12 10.000 Deprecation 118.000 Transaction 13 SHOP ST 13 OOK Ending Balance IS EXHIBIT appears in ing point to as the indir a cash flow of the change sheet, Exhib that as the fi increase in The cash flor The Cash F donor restrict place; it is a ve detailed accou revenue and In practice general expens accounts to be labor expense, sions about hos The order of app The prepare mary of reven Echibit 10 5 10. tses prepaid insurance 11. uses supplies. 12. uses a capital asset. 13. receives cash in advance of providing goods services to a client. 14. provides goods and services to a client in exchange for a cash payment that was made in advance. 15. employs workers who earn wages. 16. pays employee wages that have been earned. 17. deems a portion of a pledge is uncollectible. 18. pays interest on a loan. 10-15. The American Research Council for Humanities (ARCH) had the following financial events during the book collected owed for - ARCH to date, 13. Decemt for the Record adjusting fundament 963 entries. 10-16. ARCH beg (shown in Account Account Cash Invento Net Ass Net Ass the current year: 1. Aanuary 12. Received a $300,000 payment from a pledge made last year. 2. February 4. Placed an order for new cubicle partitions with 5-year useful lives, for $15.000 ARCH uses straight-line depreciation. Payment was not yet made, and the partitions have not yet been delivered. 3.March 1. Paid out a $50,000 grant to the Governmental Archeological Research Committee for History. This was a new grant made in the current fiscal year. 4. May 29. Paid a $5.000 deposit for the partitions ordered on February 4. 5. June 12. Collected $80,000 in new donations 6. September 1. Bought $60,000 of books ARCH has sponsored in the past to sell in its online bookstore. It paid half now, and still owes the other half, to be paid at the end of the year. Notes Pledge Proper Wages 23 761 86 Re from F Exhib October 15. The partitions ordered on February 4 8. November 10. Borrowed $75.000 from its bank W s punog CHAT 10-1 add 15 to equil debt Results Sub 8 to Aut Rec add CH has budgeted to sell the books for $100.000 total hether 1 arrived, and ARCH paid for the balance owed 2 on a note payable. 9. December 5. Repaid $25.000 on the note payable and also $3,000 in interest expenses. 10. December 28. Paid its employees $75.000 of wages in cash for the year, $70.000 of which was for the current year and $5.000 of which was for the outstanding balance owed. Employees earned $90,000 in wages for the year: December 31. Book sales from the internet bookstore totaled $110,000, and the cost of the books sold was $58,000. ARCH has not collected $12,000 of the sales. The balance owed for the inventory was paid. 12. ARCH expects that of the $12,000 not collected to date, it will collect $10,000. 13. December 31. Depreciation on ARCH's building for the year is $40,000. o 163 Record these transactions and any other required adjusting entries by showing their impact on the fundamental equation of accounting or journal entries. 10-16. ARCH began the year with the following balances (shown in alphabetical order) in their accounts: Accounts Payable $ 27,000 ookstore totaled $110.000. and the cost of the books sold was $58,000. ARCH has not ARCH expects that of the $12,000 not collected 13. December 31. Depreciation on ARCH's building Record these transactions and any other required December 31. Book sill oodsing' collected $12,000 of the sales. The balance owed for the inventor was paid. 7 unde in to date, it will collect $10,000. for the year is $40,000. d 963 adjusting entries by showing their impact on the fundamental equation of accounting or journal entries. 10-16. ARCH began the year with the following balances (shown in alphabetical order) in their accounts: 3 $ 27.000 26,000 10.000 Accounts Payable Accounts Receivable, Net Cash Inventory Net Assets with Donor Restrictions Net Assets without Donor Restrictions 25,000 130,000 302,000 Notes Payable 270,000 Pledges Receivable 350,000 Property, Plant, and Equipment, Net 350,000 Wages Payable 32,000 100,000 Record this information and the transactions from Problem 10-15 in a worksheet similar to 30,0 Exhibit 10-7. EXHIBIT TO.7 Transaction Worksheet LAGITIES AND STARTS ASSETS More with Account Hece Intory Intrance SIRGO 10 100 330.000 000 1240.000 57.000 1.000 3.000 3.000 100 2.000 10000 3000 T2 con 3 Trans Tactions action 3.000 OP 12.000 (12.000 1.000 14.000 w Tacob foco EX Diction 40,000 Traction Transaction to 10.000 0.000 w3.000 W Ex Dolce Doo 100 Dansaction 11 27.000 1.000 Transacbon 12 10.000 Deprecation 118.000 Transaction 13 SHOP ST 13 OOK Ending Balance IS EXHIBIT appears in ing point to as the indir a cash flow of the change sheet, Exhib that as the fi increase in The cash flor The Cash F donor restrict place; it is a ve detailed accou revenue and In practice general expens accounts to be labor expense, sions about hos The order of app The prepare mary of reven Echibit 10 5 10. tses prepaid insurance 11. uses supplies. 12. uses a capital asset. 13. receives cash in advance of providing goods services to a client. 14. provides goods and services to a client in exchange for a cash payment that was made in advance. 15. employs workers who earn wages. 16. pays employee wages that have been earned. 17. deems a portion of a pledge is uncollectible. 18. pays interest on a loan. 10-15. The American Research Council for Humanities (ARCH) had the following financial events during the book collected owed for - ARCH to date, 13. Decemt for the Record adjusting fundament 963 entries. 10-16. ARCH beg (shown in Account Account Cash Invento Net Ass Net Ass the current year: 1. Aanuary 12. Received a $300,000 payment from a pledge made last year. 2. February 4. Placed an order for new cubicle partitions with 5-year useful lives, for $15.000 ARCH uses straight-line depreciation. Payment was not yet made, and the partitions have not yet been delivered. 3.March 1. Paid out a $50,000 grant to the Governmental Archeological Research Committee for History. This was a new grant made in the current fiscal year. 4. May 29. Paid a $5.000 deposit for the partitions ordered on February 4. 5. June 12. Collected $80,000 in new donations 6. September 1. Bought $60,000 of books ARCH has sponsored in the past to sell in its online bookstore. It paid half now, and still owes the other half, to be paid at the end of the year. Notes Pledge Proper Wages 23 761 86 Re from F Exhib October 15. The partitions ordered on February 4 8. November 10. Borrowed $75.000 from its bank W s punog CHAT 10-1 add 15 to equil debt Results Sub 8 to Aut Rec add CH has budgeted to sell the books for $100.000 total hether 1 arrived, and ARCH paid for the balance owed 2 on a note payable. 9. December 5. Repaid $25.000 on the note payable and also $3,000 in interest expenses. 10. December 28. Paid its employees $75.000 of wages in cash for the year, $70.000 of which was for the current year and $5.000 of which was for the outstanding balance owed. Employees earned $90,000 in wages for the year: December 31. Book sales from the internet bookstore totaled $110,000, and the cost of the books sold was $58,000. ARCH has not collected $12,000 of the sales. The balance owed for the inventory was paid. 12. ARCH expects that of the $12,000 not collected to date, it will collect $10,000. 13. December 31. Depreciation on ARCH's building for the year is $40,000. o 163 Record these transactions and any other required adjusting entries by showing their impact on the fundamental equation of accounting or journal entries. 10-16. ARCH began the year with the following balances (shown in alphabetical order) in their accounts: Accounts Payable $ 27,000
