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im so confused please help A19 : X fix Purchued 500 thares of treasury atock for 515 per share. A (3) During the first month
im so confused please help
A19 : X fix Purchued 500 thares of treasury atock for 515 per share. A (3) During the first month of operations, the following transactions were completed by ABC Corporabor Dee 1 Issued 25,000 shares of $1 par common stock for cash of $20 per share. ABC Company pays cash for Land and a bulding to be used in operations. The isnd Deo 3 cost $50,000 and the bulding coot $150,000. Dec 4. Aurchased $10,000 of store fictures on aceeunt. Puichased merchandie inveritory from XYZ Compary for $125.000, terme Neom. 11 Dee 5 FCB destration. AIC wold 350,000 of merchandise on acoount, 210, n30, FOB shipping point. The 13 Dec 6 cost do merchandise sold was $20.000 is Dec 9 Pald advering conts of $15,000 to promote new buepiness 16 Puechased merchandise invertary from QRS Company lar $160,000, terms N39. 17 Dec 10 FOe dentination. 10 10 Dec 11 Purchased 600 shares of treasury thock for $15 per thave. 21 Dec 12 ABC's Bowid of Drectors doclared a $30,000 cash dividend. 22. Dec 13 Paid 5300 for verion. Dec 16. Received payment for marchandise soid on Dec 6th. \begin{tabular}{|c|c|c} & A & B \\ \hline 27 & Dec 16 & Received payment for merchandise sold on Dec. 6 th. \\ 28 & & ABC sold $75,000 of merchandise on account, 2/10,n/30, FOB shipping point. The \\ \hline 29 & Dec 23 & Cost of \end{tabular} 30Dec23costofmerchandisesoldwas$35,000. 31 Dec 24 Sold 300 shares of treasury stock for $20 per share. \begin{tabular}{l|l|l} 32 & & Paid balance owed to XYZ Company for purchases on Dec 5. \end{tabular} 34 35 At the end of December, the following adjustment data were assembled. 36 After a physical count of inventory, it was determined that $169,500 of inventory exists 3738aatDecember31. 39b Based on an analysis of ARR, ABC Company anticipates 3% of AR to be uncollectible. 40 Buildings are depreciated using the straight line method with no salvage value for 30 41 c years. Round to the nearest dollar. 42 Store Fixtures are depreciated using the straight-line method with no salvage value 43 d for 5 years. Round to the nearest dollar. 44 45 Directions: 467 Journalize the routine transactions above on the Journal-December tab. 48 Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). Store Fixtures are depreciated using the straight-line method with no salvage value 44 for 5 years. Round to the nearest dollar. Directions: 46 47.1 Journalize the routine transactions above on the Journal-December tab. 48 Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). Use the Adjusted Trial Balance provided to prepare financial statments for ABC Corporation. You are only responsible for preparing the Income Statement, Statement of Retained Earnings, and classified Balance Sheet. These should be 513 completed on the Financial Statements tab. 52 You should complete your final project in this Excel workbook using the following tabs: JournalDecember and Financial Statements. You may use another spreadsheet program as long as 53. Excel can open the filo. ABC Corporation is a retail company that begins operations on December 1,20xx, which is incorporated in the state of NC. The ABC Corporation is authorized to issue 100,000 shares of $1 par common stock. The company uses a perpetual inventory system. The following is a chart of accounts for ABC Cornoration C a now hucinoce all haninninm halama...... in Financial Statements ABC Corporation A19 : X fix Purchued 500 thares of treasury atock for 515 per share. A (3) During the first month of operations, the following transactions were completed by ABC Corporabor Dee 1 Issued 25,000 shares of $1 par common stock for cash of $20 per share. ABC Company pays cash for Land and a bulding to be used in operations. The isnd Deo 3 cost $50,000 and the bulding coot $150,000. Dec 4. Aurchased $10,000 of store fictures on aceeunt. Puichased merchandie inveritory from XYZ Compary for $125.000, terme Neom. 11 Dee 5 FCB destration. AIC wold 350,000 of merchandise on acoount, 210, n30, FOB shipping point. The 13 Dec 6 cost do merchandise sold was $20.000 is Dec 9 Pald advering conts of $15,000 to promote new buepiness 16 Puechased merchandise invertary from QRS Company lar $160,000, terms N39. 17 Dec 10 FOe dentination. 10 10 Dec 11 Purchased 600 shares of treasury thock for $15 per thave. 21 Dec 12 ABC's Bowid of Drectors doclared a $30,000 cash dividend. 22. Dec 13 Paid 5300 for verion. Dec 16. Received payment for marchandise soid on Dec 6th. \begin{tabular}{|c|c|c} & A & B \\ \hline 27 & Dec 16 & Received payment for merchandise sold on Dec. 6 th. \\ 28 & & ABC sold $75,000 of merchandise on account, 2/10,n/30, FOB shipping point. The \\ \hline 29 & Dec 23 & Cost of \end{tabular} 30Dec23costofmerchandisesoldwas$35,000. 31 Dec 24 Sold 300 shares of treasury stock for $20 per share. \begin{tabular}{l|l|l} 32 & & Paid balance owed to XYZ Company for purchases on Dec 5. \end{tabular} 34 35 At the end of December, the following adjustment data were assembled. 36 After a physical count of inventory, it was determined that $169,500 of inventory exists 3738aatDecember31. 39b Based on an analysis of ARR, ABC Company anticipates 3% of AR to be uncollectible. 40 Buildings are depreciated using the straight line method with no salvage value for 30 41 c years. Round to the nearest dollar. 42 Store Fixtures are depreciated using the straight-line method with no salvage value 43 d for 5 years. Round to the nearest dollar. 44 45 Directions: 467 Journalize the routine transactions above on the Journal-December tab. 48 Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). Store Fixtures are depreciated using the straight-line method with no salvage value 44 for 5 years. Round to the nearest dollar. Directions: 46 47.1 Journalize the routine transactions above on the Journal-December tab. 48 Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). Use the Adjusted Trial Balance provided to prepare financial statments for ABC Corporation. You are only responsible for preparing the Income Statement, Statement of Retained Earnings, and classified Balance Sheet. These should be 513 completed on the Financial Statements tab. 52 You should complete your final project in this Excel workbook using the following tabs: JournalDecember and Financial Statements. You may use another spreadsheet program as long as 53. Excel can open the filo. ABC Corporation is a retail company that begins operations on December 1,20xx, which is incorporated in the state of NC. The ABC Corporation is authorized to issue 100,000 shares of $1 par common stock. The company uses a perpetual inventory system. The following is a chart of accounts for ABC Cornoration C a now hucinoce all haninninm halama...... in Financial Statements ABC Corporation Step by Step Solution
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