in March 1, 2015, the first business day of the month and you have just been hired as the accountant for Stake Technology Inc, which operates with month accounting periods For simplicity.gore all sales tax considerations and assume that take Technology Insels one product. All of the company's accounting work has been completed through the end of February 2015 Stok Technology Ine'e yent and is March 31 The post-closing alphabetized trial balance at February 20, 2015 follow Sake Technology See the Accounts Receivable Subledger below for details Pow Closing Trial Balance regarding customer balances February 21, 2015 See the Atounts Payable Suteger below for details Dion Credi regarding creditor balance Accounts receivable 156,000 There are an unlimited number of the authored with Accounts payabia 30.000 sharested and outstanding as at February 20, 2016 454.000 This is a 10% note due February 15, 2010 with interest Accumulated depreciation store spent 44.610 collectible on the 15th of each month. Refer to the collection Allowance for dous account 21.524 schedule below for the note details Values in schedule have Cash 1029.113.50 boon rounded for convenience Common shares 31 600 See the Merchandise Inventory Subledger below for details of Interest receive 350 50 inventory holdings The balance in Prepard Insurance represents payment for 4 Merchandise inventory 1,620,000 months starting March 1, 2015 Notes roosivable B0.000 "See the Property Plant and Equipment Subadger below for Prepaid insurance 11.500 detailed information Related earnings 2.302.483 Store egonent 72.000 Units payable 5.000 Total 2.eea 517 2.869.547 You have determined that Stake Technology Inc. uses the moving weighted average coat flow assumption under a perpetual system to account for merchandise entory and that the terms of all credit sales are 2/10, 1/30. Merchandise sols for $207 per unit. The following source documents are from March Office Name 11 Deposit slo March 12) 1865 Der Of Mamat Recept 1564 Invoke 47 Once Moro 10 Inter Once Moma to 3 Ime 6516 DCM3 ce 6548 Doce 114 Dario No 12 Dapat si Mar 15) Wiwice Momo Interno Momo 20 voce 1838 inter Orice Memo Weronie Moro 17 Dorte M 21 Invoice 1441 interfice Men 14 Degou part 2 For all parts of the Case Study, round all cakulations to two decimal pieces unless otherwise specified a) Journalisting Prepare journal entries based on an analysis of the preceding source documents and post-closing trial balance as well as the tables and subledges below. Note that some source documents may not require an entry Use the gross method for recording purchases Enter an appropriate description when entering the transactions in the ouma. Dates must be entered in the forma ddim (ie, January 15 would be 16/Jan) General Joumal Account Explanation Page Guy F Debit Credit General Journal Account Explanation Page GUE F Debt Credit Date Date +- HE HE All b) Posting Posting from the general journal into the subledgers is required. Posting in the general ledger is not required. The subledgers used in this case study are Accounts Receivable ARX Accounts Payable (AP), Merchandise Inventory (M), and Property Plant and Equipment (PPE) The subledgers can be found below. Transactions affecting the subledgers must be posted by using the subledge abbreviations AR AP MI, and PPE In the follo column For transactions that do not affect one of those subledger, leave the color blank. The posting reference to be used in the Subledgers will be the abbreviation for the general journal (GJ1 GJ2 as appropriate) Merchandise Inventory Subledger (Aoct. #110) (Note: Recalculate the Balance in inventory's Ang Costunt her each anktionAll com unit calculations should be rounded to two decimal places Purchases Transportation Cost of Goods Sold (Purchase Ram Discount) (Rotuma to Inventory Balance in invertory Dale PR Units Costunit Totals Units Costunt Total Units AvyCostunt Tot February 28 BFWD 10,000 00 1,520,000 10.000 00 1 520.000 March March March 13 March 18 March 20 March 22 Mwch 20 Stave Technology inc Ponied Enging Colection Proto Accounts Receivate Sublodge February 15, 2015 80.000 Au 10603, Northstar Corp Art Wicot Catalina March 15, 2015 2029 1.32 66778.636 Dale De Debit Cred Balance Date Dese Debe Credit Balance April 18, 2015 2020 1.374 655 77,264 Nay | 20 || 2020 135 644 75,879 June 15, 2015 2.020 1.07 632 74.462 July 15, 2015 2.024 1,400 621 73.074 August 14, 2015 2.000 1,420 609 71,654 September 16, 2015 2.029 1,432 007 70.222 October 15, 2015 Aoct. 10611. Zcom Inc 2.020 1,444 585 68,770 Date Desc F Debit Credit Balance November 15, 2015 2.000 1,456 573 67,322 1/Mar Terms 2/10, IVO BFWD 150,000 156.000 December 15, 2015 2.029 1,450 561 56.854 January 15, 2016 2.029 1,480 549 54.374 February 15, 2016 2029 1.493 536 62 tas March 15, 2016 2.029 1.505 524 61.376 Update Acct 10611: Zoom Inc. Date Desc F Debit Credit Balance /Mar Terms 2/10, 1/30 BFWD 150.600 156,600 October 15, 2015 November 15, 2015 December 15, 2015 January 15, 2016 February 15, 2015 March 15, 2016 2020 2.029 2,029 2,029 2.020 2,029 1.444 1,456 1,468 1.480 1,493 1,505 585 60,77 573 67322 561 65854 549 04.374 536 62.881 524 61.370 Stake Technology Inc Accounts Payable Subledger Act, 20105: Holden Corp Acct. 20108: Barton Corporation Date Desc F Debit Credit Balance Date Dese Debit Credit Balance 1/ Mar Terms 2/10,n30 BFWD 464.000 464,000 December 15, 2018 January 15, 2010 February 15, 2019 2.029 2009 2020 97392 1979 SO 400 1,996 33 2012 2012 17 80,000 17,392 Act, 120106. ABC Inc Date Desc. F Debit Cred Balance Acct. 20109, Bentley in Date Des F Debt Credit Balance Property, Plant and Equipment Subledger Cost Information Depreciation Desc F Purch Date Depr Method Cost Residual Life Accum. Dopra, Dept. Exp. March, Acoum. Depr. B February 28, 2015, 2015 March 31, 2015 Store Equipment BFWD Apr 9, 2013 Double Declining 72,000 13.000 5 44,640 Office Furniture Mar 12, 2015 Select One) 7 Notes 1. Calculated to the nearest whole month for partial periods 2 For Double-Declining-Balance, depreciation is calculated for the fiscal year and then dided by the number of months wedding Ro Roll Shawl in March 1, 2015, the first business day of the month and you have just been hired as the accountant for Stake Technology Inc, which operates with month accounting periods For simplicity.gore all sales tax considerations and assume that take Technology Insels one product. All of the company's accounting work has been completed through the end of February 2015 Stok Technology Ine'e yent and is March 31 The post-closing alphabetized trial balance at February 20, 2015 follow Sake Technology See the Accounts Receivable Subledger below for details Pow Closing Trial Balance regarding customer balances February 21, 2015 See the Atounts Payable Suteger below for details Dion Credi regarding creditor balance Accounts receivable 156,000 There are an unlimited number of the authored with Accounts payabia 30.000 sharested and outstanding as at February 20, 2016 454.000 This is a 10% note due February 15, 2010 with interest Accumulated depreciation store spent 44.610 collectible on the 15th of each month. Refer to the collection Allowance for dous account 21.524 schedule below for the note details Values in schedule have Cash 1029.113.50 boon rounded for convenience Common shares 31 600 See the Merchandise Inventory Subledger below for details of Interest receive 350 50 inventory holdings The balance in Prepard Insurance represents payment for 4 Merchandise inventory 1,620,000 months starting March 1, 2015 Notes roosivable B0.000 "See the Property Plant and Equipment Subadger below for Prepaid insurance 11.500 detailed information Related earnings 2.302.483 Store egonent 72.000 Units payable 5.000 Total 2.eea 517 2.869.547 You have determined that Stake Technology Inc. uses the moving weighted average coat flow assumption under a perpetual system to account for merchandise entory and that the terms of all credit sales are 2/10, 1/30. Merchandise sols for $207 per unit. The following source documents are from March Office Name 11 Deposit slo March 12) 1865 Der Of Mamat Recept 1564 Invoke 47 Once Moro 10 Inter Once Moma to 3 Ime 6516 DCM3 ce 6548 Doce 114 Dario No 12 Dapat si Mar 15) Wiwice Momo Interno Momo 20 voce 1838 inter Orice Memo Weronie Moro 17 Dorte M 21 Invoice 1441 interfice Men 14 Degou part 2 For all parts of the Case Study, round all cakulations to two decimal pieces unless otherwise specified a) Journalisting Prepare journal entries based on an analysis of the preceding source documents and post-closing trial balance as well as the tables and subledges below. Note that some source documents may not require an entry Use the gross method for recording purchases Enter an appropriate description when entering the transactions in the ouma. Dates must be entered in the forma ddim (ie, January 15 would be 16/Jan) General Joumal Account Explanation Page Guy F Debit Credit General Journal Account Explanation Page GUE F Debt Credit Date Date +- HE HE All b) Posting Posting from the general journal into the subledgers is required. Posting in the general ledger is not required. The subledgers used in this case study are Accounts Receivable ARX Accounts Payable (AP), Merchandise Inventory (M), and Property Plant and Equipment (PPE) The subledgers can be found below. Transactions affecting the subledgers must be posted by using the subledge abbreviations AR AP MI, and PPE In the follo column For transactions that do not affect one of those subledger, leave the color blank. The posting reference to be used in the Subledgers will be the abbreviation for the general journal (GJ1 GJ2 as appropriate) Merchandise Inventory Subledger (Aoct. #110) (Note: Recalculate the Balance in inventory's Ang Costunt her each anktionAll com unit calculations should be rounded to two decimal places Purchases Transportation Cost of Goods Sold (Purchase Ram Discount) (Rotuma to Inventory Balance in invertory Dale PR Units Costunit Totals Units Costunt Total Units AvyCostunt Tot February 28 BFWD 10,000 00 1,520,000 10.000 00 1 520.000 March March March 13 March 18 March 20 March 22 Mwch 20 Stave Technology inc Ponied Enging Colection Proto Accounts Receivate Sublodge February 15, 2015 80.000 Au 10603, Northstar Corp Art Wicot Catalina March 15, 2015 2029 1.32 66778.636 Dale De Debit Cred Balance Date Dese Debe Credit Balance April 18, 2015 2020 1.374 655 77,264 Nay | 20 || 2020 135 644 75,879 June 15, 2015 2.020 1.07 632 74.462 July 15, 2015 2.024 1,400 621 73.074 August 14, 2015 2.000 1,420 609 71,654 September 16, 2015 2.029 1,432 007 70.222 October 15, 2015 Aoct. 10611. Zcom Inc 2.020 1,444 585 68,770 Date Desc F Debit Credit Balance November 15, 2015 2.000 1,456 573 67,322 1/Mar Terms 2/10, IVO BFWD 150,000 156.000 December 15, 2015 2.029 1,450 561 56.854 January 15, 2016 2.029 1,480 549 54.374 February 15, 2016 2029 1.493 536 62 tas March 15, 2016 2.029 1.505 524 61.376 Update Acct 10611: Zoom Inc. Date Desc F Debit Credit Balance /Mar Terms 2/10, 1/30 BFWD 150.600 156,600 October 15, 2015 November 15, 2015 December 15, 2015 January 15, 2016 February 15, 2015 March 15, 2016 2020 2.029 2,029 2,029 2.020 2,029 1.444 1,456 1,468 1.480 1,493 1,505 585 60,77 573 67322 561 65854 549 04.374 536 62.881 524 61.370 Stake Technology Inc Accounts Payable Subledger Act, 20105: Holden Corp Acct. 20108: Barton Corporation Date Desc F Debit Credit Balance Date Dese Debit Credit Balance 1/ Mar Terms 2/10,n30 BFWD 464.000 464,000 December 15, 2018 January 15, 2010 February 15, 2019 2.029 2009 2020 97392 1979 SO 400 1,996 33 2012 2012 17 80,000 17,392 Act, 120106. ABC Inc Date Desc. F Debit Cred Balance Acct. 20109, Bentley in Date Des F Debt Credit Balance Property, Plant and Equipment Subledger Cost Information Depreciation Desc F Purch Date Depr Method Cost Residual Life Accum. Dopra, Dept. Exp. March, Acoum. Depr. B February 28, 2015, 2015 March 31, 2015 Store Equipment BFWD Apr 9, 2013 Double Declining 72,000 13.000 5 44,640 Office Furniture Mar 12, 2015 Select One) 7 Notes 1. Calculated to the nearest whole month for partial periods 2 For Double-Declining-Balance, depreciation is calculated for the fiscal year and then dided by the number of months wedding Ro Roll Shawl