Instructions Beg TB Events Grid Inventory J-E Following are the events for Cycle Path during 2020 Jan 6, 2020. Cycle Path paid the salaries payable from 2019. b) Jan 14, 2020 - The company acquired an additional S42,500 cash from the issue of common stock. Jan 17, 2020 - The company paid $765 cash for supplies to be used by the business Jan 21, 2020-Cycle Path purchased 35 bicycles and related gear for later sale at a cost of $16.142. The bicycles and related gear were purchased on account with the terms 1/10,n30. Jan 29,2020 - Cycle Path decided to pay $4.200 of its accounts payable balance from event (d) before the discount period expired, so Cycle Path first applied the discount to the 54,200 amount so it could reduce its accounts payable balance (note: the actual payment is described in event below). After applying this discount, Cycle Path's inventory cost was $460 for each item. Jan 29,2020 - Cycle Path paid cash to settle parts of its accounts payable balance as described in event (c). Feb. 12. 2020 - The company sold 24 bicycles and related gear for a total price of $15,300. Sales of S11,050 were on account, while $4.250 were cash sales. Record revenue. Feb. 12. 2020 - The cost to Cycle Path of cach product sold in event (g) was $460 Feb. 17. 2030. The company paid the workers a total of S7,140 in salaries Feb. 28, 2020 - The company provided $30,600 of bicycle rental and repair services. The services were billed to the customers Mar 1, 2020 - Cycle Path rented a business van, paying 54.00 in advance for a one year rental 1) Mar 3, 2020 - Paid cash to settle additional accounts payable in the amount of $3.213. The payment was made after the discount period expired. m) Mar 11, 2020 - Collected $32.300 of accounts receivable. Apr. 9. 2020 - Cycle Path performed S11,900 worth of bicycle rental and repair services for a local college: $10.200 was on account and 51.700 was for cash. May 1, 2020 - Paid S6,120 for one year's rent on office space in advance. p) May 2020 - Cycle Path purchased, and paid cash for 8 bicycles and related gear for later sale at a cost of $474 cach. May 17, 2020 - The company paid accounts payable of $1.224, but not within the discount period (the company uses the gross method) Jun 1, 2020-Cycle Path rented a larger building, paid $5,610 for 12 months' rent in advance. Jun. 5.2020-Cycle Path purchased, and paid cash, for 12 bicycles and related gear for later sale at a cost of S480 cach D) Jun. 12. 2020 - Cycle Path purchased 15 bicycles and related gear for later sale at a cost of S486cach The purchase was on account Jun 23, 2020 - The company sold 32 bicycles and related gear for a total price of $23.800. Sales of $17.000 were on account, while 56,800 were cash sales. Record revenue ) Jun 23, 2020 - Record the cost of goods sold related to the sale from eventu) using the perpetual FIFO method 2) w) Jul. 1. 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for $935 with a cost of $450. Record the revenue part of the event Jul 1, 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for $935 with a cost of $450. Record the cost part of the event. y) Jul 15, 2020 - Paid employees a total of 59,350 cash for salaries employees carned during the current period Aug 24, 2020 - Provided S27,200 of bicycle rental and repair services during the year. The services were billed to the customers a) Sep 30, 2020 - Recognized $680 of service revenue carned during the first nine months of the year, it had been collected in the prior year b) Oct. 1. 2020 - Sold additional bicycle rental and repair services worth $340 for one year's service, starting immediately. The customers paid cash for the full amount cc) Nov. 13.2020 - Collected S43.350 of accounts receivable. &1) Nov 20, 2020 - Paid an additional S4,675 to settle some accounts payable the payment was made after the discount period expired. cc) Dec 27, 2020 - Paid $2,380 of advertising expense during the year | Dec. 28, 2020 - Paid 3,553 of utilities expense for the year RE) Dec 28, 2020 - Paid S10,600 of other operating expense for the year hh) Dec 29, 2020 - Paid a dividend of S10.200 to the shareholders. Dec 31, 2020 - There was $537 of supplies on hand at the end of the year, 11) Dec 31, 2020 - Recognized the expired rent from the prior ycar, van event (k)], office space (event (o)), and the building (event)] for the year. A) Dec 31, 2020 - Recognized revenue for the current year earned from event (bb). II) Dec 31, 2020 - Accrued salaries at December 31 were $1,020 Instructions Beg TB Events Grid Inventory J-Es Value Balance Below it worksheet to analyze the cost of inventory and the cost of gpods sold. Rememer, Cycle Path uses the FIFO inventory method. (kint: cater purchases as positive quantitic and sales as segati quantities) Value Event Quantity Unit Cost Quantity Balance Change d) 35 S461.20 S16,142 5461.20 el discount $4,200.00 (542) 35 a $460.00 h) $460.00 ($11.040) na $460.00 p) 351 $16,142 $16,100 $5,060 S) x) AutoSave OFF BES 5 2400 Proj 2 Fall 2020 Q. Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments B9 fic L M N N 0 P Q R s T Basic Acct Eq Impacts A+ Assets up Assets down L+ Liabilities up Liabilities down SE+ Equity up SE Equity down A B C D F G H I Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accountsin cells 12 thru 125, and you must only use Basic Chart of Accounts 1 Accounting Equation impact codes from the list in cells K2 thru K7 2 ) - a) Jan. 6, 2020-Cycle Path paid the salaries payable from 2019. 100 Cash Basic Acct Date Account Names Debits Eg Impacts Credits 110 Accounts Receivable 1/6/20 L Salarles Payable 884 120 Prepaid rent A- Cash 884 130 Supplies (on hand) completed as an example 140 Jinventory b) Jan. 14, 2020 - The company acquired an additional $42,500 cash from the issue of common stock 150 Equipment Basic Acct Date Account Names Debits Credits Eg Impacts 155 Accum. Deprec. (Equip.) 170 Land 10 210 Accounts Payable 11 220 Salarles Payable 12 ) Jan. 17, 2020 - The company paid $765 cash for supplies to be used by the business. 240 Uncarned Revenue Basic Acct Date Account Names Debits Credits 250 Notes Payable 13 Eg Impacts 14 310 Common Stack 15 350 Retained Earnings 16 410 Dividends Declared d) Jan 21, 2020-Cycle Path purchased 35 bicycles and related gear for later sale at a cost of $16,142. The bicycles and 510 Service Revenue 17 related gear were purchased an account with the terms 1/10, n/30. Basic Acct Date Account Names Debits Credits 520 Product Sales 18 Eg Impacts 19 600 Cost of Goods Sold 20 610 Supplies Expense 21 640 salaries Expense Jan. 29, 2020-Cycle Path decided to pay $4,200 of its accounts payable balance from event (d) before the discount perlod explred, so Cycle Path first applied the discount to the $4,200 amount so it could reduce its accounts payable 650 Rent Expense balance (note: the actual payment is described in event (below). After applying this discount, Cycle Path's Inventory 22 cost was $460 for each item. Basic Acct Date Account Names Debits Credits 560 Utilities expense 23 Eq Impacts 24 670 Advertising expense 25 690 Other Operating Expenses 26 27 1 Jan. 29, 2020-Cycle Path paid cash to settle parts of its accounts payable balance as described in event (e). Instructions Beg TB Events Grid Inventory J-Es Adj TB Fin St Closing Ready . + E 100% AutoSave OFF QED 5 = 2400 Proj 2 Fall 2020 Q Le Share Comments M N 0 P Q R s T Chart of Accounts Basic Acct Eq Impacts Home Insert Draw Page Layout Formulas Data Review View Tell me B9 x fic A D G Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accountsin cells 12 thru 125, and you must only use Basic 1 Accounting Equation Impact codes from the listincelis K2 thru K7 27 f) Jan. 29, 2020-Cycle Path paid cash to settle parts of its accounts payable balance as described in event (e). Basic Acct Date 28 Account Names Debits Credits Eg Impacts 29 30 31 B) - a Feb. 12, 2020 - The company sold 24 bicycles and related gear for a total price of $15,300. Sales of $11,050 were an 32 account, while $4,250 were cash sales Recard revenue. Basic Acct 33 Date Debits Account Names Credits Eg Impacts 34 35 36 37 Feb. 12, 2020 - The cost to Cycle Path of each product sold in event (e) was $460. Basic Acct Date Account Names Debits Credits 38 Eq Impacts 40 41 1) , Feb. 17, 2020 - The company paid the workers a total of $7,140 in salaries Basic Acct Date Account Names Debits Eg Impacts Credits 44 ) 47 48 45 46 Feb. 28, 2020 - The company provided $30,600 of bicycle rental and repair services. The services were billed to the customers Basic Acct Date Account Names Debits Credits Eq Impacts 49 SO 51 52 0 Mar. 1, 2020-Cycle Path rented a business van, paying $4,080 in advance for a one year rental. Basic Acct Date Account Names Debits Credits 53 Eg Impacts Instructions Beg TB Events Grid Inventory J-Es Adj TB Ready Fin St Closing + 100% OFF Le Share Comments K L N 0 P Q R s T AutoSave BES55 2400 Proj 2 Fall 2020 Home Insert Draw Page Layout Formulas Data Review View View Tell me B9 B HI Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accounts in cells 12 thru 125, and you must only use Basic Chart of Accounts 1 Accounting Equation impact codes from the listincelis K2 thru K7 1 52 k) Mar 1, 2020-Cycle Path rented a business van, paying $4,080 in advance for a one year rental. Basic Acct Date Account Names Debits 53 Credits Eq Impacts 54 Basic Acct Eq Impacts 55 S6 1) Mar. 3, 2020 - Paid cash to settle additional accounts payable in the amount of$3,213. The payment was made after S7 the discount period expired. Basic Acct Date Account Names Debits Credits 58 Eq Impacts 59 60 61 62 mMar. 11, 2020-Collected $32,300 of accounts receivable. Basic Acct Date Account Names Debits Credits 63 Eg Impacts 64 65 66 67 m) Apr. 9, 2020-Cycle Path performed $11,900 worth of bicycle rental and repair services for a local college: $10,200 was an account and $1,700 was for cash. Basic Acct Date Account Names Debits Credits Eg Impacts 68 69 70 71 72 o May 1, 2020 - Pald $6,120 for one year's rent on office space in advance. Basic Acct Date Account Names Debits Eg Impacts Credits 73 74 75 76 p) May 8, 2020-Cycle Path purchased, and paid cash, for 8 blcycles and related gear for later sale at a cost of$474 each. 77 Basic Acct Date falsche Instructions Beg TB Account Names Events Debits Credits Inventory Grid J-Es Adj TB Fin St Closing + Ready E 100% Q Share 0 Comments A I N 0 a R S T AutoSave OFF QE DHE | 2400 Proj 2 Fall 2020 Home Insert Draw Page Layout Formulas Data Review View Tell me B9 fix D Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accountsin cells 12 thru 125, and you must only use Basic Chart of Accounts 1 Accounting Equation Impact codes from the listin cells K2 thru K7 p) May. 8, 2020-Cycle Path purchased, and paid cash, for 8 bicycles and related gear for later sale at a cost of $474 each. 77 Basic Acct Date Account Names Debits Credits 78 Fq Impacts 79 Basic Acct Eq Impacts 80 81 a) 82 May. 17, 2020 - The company paid accounts payable of $1,224, but not within the discount period (the company uses the cross method) Basic Acct Date Account Names Debits Credits Eq Impacts 83 84 85 86 87 Jun 1, 2020-Cycle Path rented a larger building paid $5,610 for 12 months' rent in advance. Basic Acct Date Account Names Debits Credits Eq Impacts 88 89 90 91 5) Jun. 5, 2020-Cycle Path purchased, and paid cash, for 12 bicycles and related gear for later sale at a cost of $480 each. 92 Date Basic Acct Eq Impacts Account Names Debits Credits 93 94 95 96 t) Jun. 12. 2020-Cycle Path purchased 15 bicycles and related gear for later sale at a cost of $486 each. The purchase 97 was an account. Basic Acct Date Account Names Debits Credits 98 Eg Impacts 99 100 101 u) Jun. 23, 2020 - The company sold 32 bicycles and related gear for a total price of $23,800. Sales of $17,000 were on 102 account, while $6,800 were cash sales Recard revenue. . Instructions Beg TB Events Grid Inventory J-Es Adj TB Ready Fin St Closing + 100% AutoSave OFF BES = 2400 Proj 2 Fall 2020 Home Insert Draw Page Layout Formulas Data Review View Tell me Le Share Comments B9 M N P Q R S T Chart of Accounts Basic Acct Eq Impacts A C D F HI Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accounts in cells 12 thru 125, and you must only use Basic 1 Accounting Equation Impact codes from the list in cells K2 thru K7 ul Jun 23, 2020 - The company sold 32 bicycles and related gear for a total price of $23,800. Sales of $17,000 were on 102 account, while 56.800 were cash sales. Record revenue. Basic Acct Date 103 Eg Impacts Account Names Debits Credits 104 105 106 Jun 23, 2020 - Record the cost of goods sold related to the sale from event (u) using the perpetual FIFO method. 107 Basic Acct Date Account Names 108 Debits Credits Eq Impacts 109 110 111 Jul 1, 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for 112 $935 with a cost of $480. Record the revenue part of the event. Basic Acct Date Account Names 113 Debits Eq Impacts Credits 114 115 116 Jul 1, 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for 117 5935 with a cost of $480. Record the cost part of the event. Basic Acct Date 118 Account Names Debits Credits Eq Impacts 119 120 121 Jul. 15, 2020-Paid employees a total of $9,350 cash for salaries employees earned during the current period. 122 Basic Acct Date Account Names Debits 123 Eq Impacts Credits 124 125 126 Aue 24, 2020-Provided $27.200 of bicycle rental and repair services during the vear. The services were billed to the Instructions Beg TB Events Grid Inventory J-Es Adj TB Ready Fin St Closing + 100% AutoSave OFF BES 5 = 2400 Proj 2 Fall 2020 Home Formulas Data Review View Tell me e Share e Comments Insert Draw Page Layout xv fix B9 A C D G H M N 0 a R S S T Chart of Accounts Basic Acct Eq Impacts Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accounts in cells 12 thru 125, and you must only use Basic 1 Accounting Equation Impact codes from the list in cells K2 thru K. 2) Aug 24, 2020 - Provided $27,200 of bicycle rental and repair services during the year. The services were billed to the 127 customers. . Basic Acct Date Account Names Debits Credits 128 Eg Impacts 129 130 131 aal Sep. 30, 2020 - Recognized $680 of service revenue earned during the first nine months of the year; It had been 132 collected in the prior year. Basic Acct 133 Date Ea Impacts Account Names Debits Credits 134 135 136 137 bb) Oct. 1, 2020 - Sold additional bicycle rental and repair services worth $340 for one year's service, starting Immediately. The customers paid cash for the full amount Date Basic Acct Account Names Debits Credits Eq impacts 138 139 140 141 242 cc) Nov. 13, 2020 - Collected $43,350 of accounts receivable. Basic Acct Date Account Names Debits Credits Eq impacts 143 144 145 146 dd) Nov. 20, 2020 - Paid an additional $4,675 to settle some accounts payable; the payment was made after the discount 147 period expired. Basic Acct Date Account Names Debits Credits 148 Eg Impacts 149 150 151 152 e) Dec. 27, 2020 - Paid $2,380 of advertising expense during the year. Basica Instructions Beg TB Events Grid Inventory J-Es Adj TB Ready Fin St Closing + 100% AutoSave OFF ES: 2400 Proj 2 Fall 2020 Home Insert Draw Page Layout Formulas Data Review View Tell me e Share Comments B9 A B E H I . N 0 P Q R S Chart of Accounts Basic Acct Eq Impacts Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accounts in cells 12 thru 125, and you must only use Basic 1 Accounting Equation Impact codes from the list in cells K2 thru K7. 152 ) Dec 27, 2020 - Pald $2,380 of advertising expense during the year. Basic Acct Date Account Names Debits Credits 153 Eq Impacts 154 155 156 157 Dec. 28, 2020 - Pald $3,553 ofutilities expense for the year. Basic Acct Date Account Names Debits Credits 158 Eq Impacts 159 160 161 162 Dec. 28, 2020 - Pald $10,600 of other operating expense for the year Basic Acct Date Account Names Debits Credits 163 Eq Impacts 164 165 166 167 hh) Dec. 29, 2020 - Palda dividend of$10,200 to the shareholders Basic Acct Date Account Names Debits Credits 168 Eq Impacts 169 170 171 172 1) Dec 31, 2020 - There was $537 of supplies on hand at the end of the year. Basic Acct Date Debits Account Names Credits 173 Eg Impacts 174 175 176 JJ) 177 Dec 31, 2020 - Recognized the expired rent from the prior year, van [event [kl], office space [event (o)l, and the building (event) for the year. Basic Acct Date Account Names Credits Debits Eq Impacts 178 179 Instructions Beg TB Events Grid Inventory J-Es Adj TB Fin St Closing + Ready 100% kk) Dec. 31, 2020 - Recognized revenue for the current year eamed from event (bb). Basic Acct Date Account Names Debits Eq Impacts Credits II) Dec. 31, 2020 - Accrued salaries at December 31 were $1,020. Basic Acct Date Account Names Eq Impacts Debits Credits Instructions Beg TB Events Grid Inventory J-E Following are the events for Cycle Path during 2020 Jan 6, 2020. Cycle Path paid the salaries payable from 2019. b) Jan 14, 2020 - The company acquired an additional S42,500 cash from the issue of common stock. Jan 17, 2020 - The company paid $765 cash for supplies to be used by the business Jan 21, 2020-Cycle Path purchased 35 bicycles and related gear for later sale at a cost of $16.142. The bicycles and related gear were purchased on account with the terms 1/10,n30. Jan 29,2020 - Cycle Path decided to pay $4.200 of its accounts payable balance from event (d) before the discount period expired, so Cycle Path first applied the discount to the 54,200 amount so it could reduce its accounts payable balance (note: the actual payment is described in event below). After applying this discount, Cycle Path's inventory cost was $460 for each item. Jan 29,2020 - Cycle Path paid cash to settle parts of its accounts payable balance as described in event (c). Feb. 12. 2020 - The company sold 24 bicycles and related gear for a total price of $15,300. Sales of S11,050 were on account, while $4.250 were cash sales. Record revenue. Feb. 12. 2020 - The cost to Cycle Path of cach product sold in event (g) was $460 Feb. 17. 2030. The company paid the workers a total of S7,140 in salaries Feb. 28, 2020 - The company provided $30,600 of bicycle rental and repair services. The services were billed to the customers Mar 1, 2020 - Cycle Path rented a business van, paying 54.00 in advance for a one year rental 1) Mar 3, 2020 - Paid cash to settle additional accounts payable in the amount of $3.213. The payment was made after the discount period expired. m) Mar 11, 2020 - Collected $32.300 of accounts receivable. Apr. 9. 2020 - Cycle Path performed S11,900 worth of bicycle rental and repair services for a local college: $10.200 was on account and 51.700 was for cash. May 1, 2020 - Paid S6,120 for one year's rent on office space in advance. p) May 2020 - Cycle Path purchased, and paid cash for 8 bicycles and related gear for later sale at a cost of $474 cach. May 17, 2020 - The company paid accounts payable of $1.224, but not within the discount period (the company uses the gross method) Jun 1, 2020-Cycle Path rented a larger building, paid $5,610 for 12 months' rent in advance. Jun. 5.2020-Cycle Path purchased, and paid cash, for 12 bicycles and related gear for later sale at a cost of S480 cach D) Jun. 12. 2020 - Cycle Path purchased 15 bicycles and related gear for later sale at a cost of S486cach The purchase was on account Jun 23, 2020 - The company sold 32 bicycles and related gear for a total price of $23.800. Sales of $17.000 were on account, while 56,800 were cash sales. Record revenue ) Jun 23, 2020 - Record the cost of goods sold related to the sale from eventu) using the perpetual FIFO method 2) w) Jul. 1. 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for $935 with a cost of $450. Record the revenue part of the event Jul 1, 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for $935 with a cost of $450. Record the cost part of the event. y) Jul 15, 2020 - Paid employees a total of 59,350 cash for salaries employees carned during the current period Aug 24, 2020 - Provided S27,200 of bicycle rental and repair services during the year. The services were billed to the customers a) Sep 30, 2020 - Recognized $680 of service revenue carned during the first nine months of the year, it had been collected in the prior year b) Oct. 1. 2020 - Sold additional bicycle rental and repair services worth $340 for one year's service, starting immediately. The customers paid cash for the full amount cc) Nov. 13.2020 - Collected S43.350 of accounts receivable. &1) Nov 20, 2020 - Paid an additional S4,675 to settle some accounts payable the payment was made after the discount period expired. cc) Dec 27, 2020 - Paid $2,380 of advertising expense during the year | Dec. 28, 2020 - Paid 3,553 of utilities expense for the year RE) Dec 28, 2020 - Paid S10,600 of other operating expense for the year hh) Dec 29, 2020 - Paid a dividend of S10.200 to the shareholders. Dec 31, 2020 - There was $537 of supplies on hand at the end of the year, 11) Dec 31, 2020 - Recognized the expired rent from the prior ycar, van event (k)], office space (event (o)), and the building (event)] for the year. A) Dec 31, 2020 - Recognized revenue for the current year earned from event (bb). II) Dec 31, 2020 - Accrued salaries at December 31 were $1,020 Instructions Beg TB Events Grid Inventory J-Es Value Balance Below it worksheet to analyze the cost of inventory and the cost of gpods sold. Rememer, Cycle Path uses the FIFO inventory method. (kint: cater purchases as positive quantitic and sales as segati quantities) Value Event Quantity Unit Cost Quantity Balance Change d) 35 S461.20 S16,142 5461.20 el discount $4,200.00 (542) 35 a $460.00 h) $460.00 ($11.040) na $460.00 p) 351 $16,142 $16,100 $5,060 S) x) AutoSave OFF BES 5 2400 Proj 2 Fall 2020 Q. Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments B9 fic L M N N 0 P Q R s T Basic Acct Eq Impacts A+ Assets up Assets down L+ Liabilities up Liabilities down SE+ Equity up SE Equity down A B C D F G H I Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accountsin cells 12 thru 125, and you must only use Basic Chart of Accounts 1 Accounting Equation impact codes from the list in cells K2 thru K7 2 ) - a) Jan. 6, 2020-Cycle Path paid the salaries payable from 2019. 100 Cash Basic Acct Date Account Names Debits Eg Impacts Credits 110 Accounts Receivable 1/6/20 L Salarles Payable 884 120 Prepaid rent A- Cash 884 130 Supplies (on hand) completed as an example 140 Jinventory b) Jan. 14, 2020 - The company acquired an additional $42,500 cash from the issue of common stock 150 Equipment Basic Acct Date Account Names Debits Credits Eg Impacts 155 Accum. Deprec. (Equip.) 170 Land 10 210 Accounts Payable 11 220 Salarles Payable 12 ) Jan. 17, 2020 - The company paid $765 cash for supplies to be used by the business. 240 Uncarned Revenue Basic Acct Date Account Names Debits Credits 250 Notes Payable 13 Eg Impacts 14 310 Common Stack 15 350 Retained Earnings 16 410 Dividends Declared d) Jan 21, 2020-Cycle Path purchased 35 bicycles and related gear for later sale at a cost of $16,142. The bicycles and 510 Service Revenue 17 related gear were purchased an account with the terms 1/10, n/30. Basic Acct Date Account Names Debits Credits 520 Product Sales 18 Eg Impacts 19 600 Cost of Goods Sold 20 610 Supplies Expense 21 640 salaries Expense Jan. 29, 2020-Cycle Path decided to pay $4,200 of its accounts payable balance from event (d) before the discount perlod explred, so Cycle Path first applied the discount to the $4,200 amount so it could reduce its accounts payable 650 Rent Expense balance (note: the actual payment is described in event (below). After applying this discount, Cycle Path's Inventory 22 cost was $460 for each item. Basic Acct Date Account Names Debits Credits 560 Utilities expense 23 Eq Impacts 24 670 Advertising expense 25 690 Other Operating Expenses 26 27 1 Jan. 29, 2020-Cycle Path paid cash to settle parts of its accounts payable balance as described in event (e). Instructions Beg TB Events Grid Inventory J-Es Adj TB Fin St Closing Ready . + E 100% AutoSave OFF QED 5 = 2400 Proj 2 Fall 2020 Q Le Share Comments M N 0 P Q R s T Chart of Accounts Basic Acct Eq Impacts Home Insert Draw Page Layout Formulas Data Review View Tell me B9 x fic A D G Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accountsin cells 12 thru 125, and you must only use Basic 1 Accounting Equation Impact codes from the listincelis K2 thru K7 27 f) Jan. 29, 2020-Cycle Path paid cash to settle parts of its accounts payable balance as described in event (e). Basic Acct Date 28 Account Names Debits Credits Eg Impacts 29 30 31 B) - a Feb. 12, 2020 - The company sold 24 bicycles and related gear for a total price of $15,300. Sales of $11,050 were an 32 account, while $4,250 were cash sales Recard revenue. Basic Acct 33 Date Debits Account Names Credits Eg Impacts 34 35 36 37 Feb. 12, 2020 - The cost to Cycle Path of each product sold in event (e) was $460. Basic Acct Date Account Names Debits Credits 38 Eq Impacts 40 41 1) , Feb. 17, 2020 - The company paid the workers a total of $7,140 in salaries Basic Acct Date Account Names Debits Eg Impacts Credits 44 ) 47 48 45 46 Feb. 28, 2020 - The company provided $30,600 of bicycle rental and repair services. The services were billed to the customers Basic Acct Date Account Names Debits Credits Eq Impacts 49 SO 51 52 0 Mar. 1, 2020-Cycle Path rented a business van, paying $4,080 in advance for a one year rental. Basic Acct Date Account Names Debits Credits 53 Eg Impacts Instructions Beg TB Events Grid Inventory J-Es Adj TB Ready Fin St Closing + 100% OFF Le Share Comments K L N 0 P Q R s T AutoSave BES55 2400 Proj 2 Fall 2020 Home Insert Draw Page Layout Formulas Data Review View View Tell me B9 B HI Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accounts in cells 12 thru 125, and you must only use Basic Chart of Accounts 1 Accounting Equation impact codes from the listincelis K2 thru K7 1 52 k) Mar 1, 2020-Cycle Path rented a business van, paying $4,080 in advance for a one year rental. Basic Acct Date Account Names Debits 53 Credits Eq Impacts 54 Basic Acct Eq Impacts 55 S6 1) Mar. 3, 2020 - Paid cash to settle additional accounts payable in the amount of$3,213. The payment was made after S7 the discount period expired. Basic Acct Date Account Names Debits Credits 58 Eq Impacts 59 60 61 62 mMar. 11, 2020-Collected $32,300 of accounts receivable. Basic Acct Date Account Names Debits Credits 63 Eg Impacts 64 65 66 67 m) Apr. 9, 2020-Cycle Path performed $11,900 worth of bicycle rental and repair services for a local college: $10,200 was an account and $1,700 was for cash. Basic Acct Date Account Names Debits Credits Eg Impacts 68 69 70 71 72 o May 1, 2020 - Pald $6,120 for one year's rent on office space in advance. Basic Acct Date Account Names Debits Eg Impacts Credits 73 74 75 76 p) May 8, 2020-Cycle Path purchased, and paid cash, for 8 blcycles and related gear for later sale at a cost of$474 each. 77 Basic Acct Date falsche Instructions Beg TB Account Names Events Debits Credits Inventory Grid J-Es Adj TB Fin St Closing + Ready E 100% Q Share 0 Comments A I N 0 a R S T AutoSave OFF QE DHE | 2400 Proj 2 Fall 2020 Home Insert Draw Page Layout Formulas Data Review View Tell me B9 fix D Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accountsin cells 12 thru 125, and you must only use Basic Chart of Accounts 1 Accounting Equation Impact codes from the listin cells K2 thru K7 p) May. 8, 2020-Cycle Path purchased, and paid cash, for 8 bicycles and related gear for later sale at a cost of $474 each. 77 Basic Acct Date Account Names Debits Credits 78 Fq Impacts 79 Basic Acct Eq Impacts 80 81 a) 82 May. 17, 2020 - The company paid accounts payable of $1,224, but not within the discount period (the company uses the cross method) Basic Acct Date Account Names Debits Credits Eq Impacts 83 84 85 86 87 Jun 1, 2020-Cycle Path rented a larger building paid $5,610 for 12 months' rent in advance. Basic Acct Date Account Names Debits Credits Eq Impacts 88 89 90 91 5) Jun. 5, 2020-Cycle Path purchased, and paid cash, for 12 bicycles and related gear for later sale at a cost of $480 each. 92 Date Basic Acct Eq Impacts Account Names Debits Credits 93 94 95 96 t) Jun. 12. 2020-Cycle Path purchased 15 bicycles and related gear for later sale at a cost of $486 each. The purchase 97 was an account. Basic Acct Date Account Names Debits Credits 98 Eg Impacts 99 100 101 u) Jun. 23, 2020 - The company sold 32 bicycles and related gear for a total price of $23,800. Sales of $17,000 were on 102 account, while $6,800 were cash sales Recard revenue. . Instructions Beg TB Events Grid Inventory J-Es Adj TB Ready Fin St Closing + 100% AutoSave OFF BES = 2400 Proj 2 Fall 2020 Home Insert Draw Page Layout Formulas Data Review View Tell me Le Share Comments B9 M N P Q R S T Chart of Accounts Basic Acct Eq Impacts A C D F HI Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accounts in cells 12 thru 125, and you must only use Basic 1 Accounting Equation Impact codes from the list in cells K2 thru K7 ul Jun 23, 2020 - The company sold 32 bicycles and related gear for a total price of $23,800. Sales of $17,000 were on 102 account, while 56.800 were cash sales. Record revenue. Basic Acct Date 103 Eg Impacts Account Names Debits Credits 104 105 106 Jun 23, 2020 - Record the cost of goods sold related to the sale from event (u) using the perpetual FIFO method. 107 Basic Acct Date Account Names 108 Debits Credits Eq Impacts 109 110 111 Jul 1, 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for 112 $935 with a cost of $480. Record the revenue part of the event. Basic Acct Date Account Names 113 Debits Eq Impacts Credits 114 115 116 Jul 1, 2020 - Made a full refund to a dissatisfied customer who returned a bicycle. The sale had been a cash sale for 117 5935 with a cost of $480. Record the cost part of the event. Basic Acct Date 118 Account Names Debits Credits Eq Impacts 119 120 121 Jul. 15, 2020-Paid employees a total of $9,350 cash for salaries employees earned during the current period. 122 Basic Acct Date Account Names Debits 123 Eq Impacts Credits 124 125 126 Aue 24, 2020-Provided $27.200 of bicycle rental and repair services during the vear. The services were billed to the Instructions Beg TB Events Grid Inventory J-Es Adj TB Ready Fin St Closing + 100% AutoSave OFF BES 5 = 2400 Proj 2 Fall 2020 Home Formulas Data Review View Tell me e Share e Comments Insert Draw Page Layout xv fix B9 A C D G H M N 0 a R S S T Chart of Accounts Basic Acct Eq Impacts Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accounts in cells 12 thru 125, and you must only use Basic 1 Accounting Equation Impact codes from the list in cells K2 thru K. 2) Aug 24, 2020 - Provided $27,200 of bicycle rental and repair services during the year. The services were billed to the 127 customers. . Basic Acct Date Account Names Debits Credits 128 Eg Impacts 129 130 131 aal Sep. 30, 2020 - Recognized $680 of service revenue earned during the first nine months of the year; It had been 132 collected in the prior year. Basic Acct 133 Date Ea Impacts Account Names Debits Credits 134 135 136 137 bb) Oct. 1, 2020 - Sold additional bicycle rental and repair services worth $340 for one year's service, starting Immediately. The customers paid cash for the full amount Date Basic Acct Account Names Debits Credits Eq impacts 138 139 140 141 242 cc) Nov. 13, 2020 - Collected $43,350 of accounts receivable. Basic Acct Date Account Names Debits Credits Eq impacts 143 144 145 146 dd) Nov. 20, 2020 - Paid an additional $4,675 to settle some accounts payable; the payment was made after the discount 147 period expired. Basic Acct Date Account Names Debits Credits 148 Eg Impacts 149 150 151 152 e) Dec. 27, 2020 - Paid $2,380 of advertising expense during the year. Basica Instructions Beg TB Events Grid Inventory J-Es Adj TB Ready Fin St Closing + 100% AutoSave OFF ES: 2400 Proj 2 Fall 2020 Home Insert Draw Page Layout Formulas Data Review View Tell me e Share Comments B9 A B E H I . N 0 P Q R S Chart of Accounts Basic Acct Eq Impacts Use the worksheet below to prepare the appropriate transaction and adjusting journal entries for Cycle Path. For all journal entries, you must only use account names from the Chart of Accounts in cells 12 thru 125, and you must only use Basic 1 Accounting Equation Impact codes from the list in cells K2 thru K7. 152 ) Dec 27, 2020 - Pald $2,380 of advertising expense during the year. Basic Acct Date Account Names Debits Credits 153 Eq Impacts 154 155 156 157 Dec. 28, 2020 - Pald $3,553 ofutilities expense for the year. Basic Acct Date Account Names Debits Credits 158 Eq Impacts 159 160 161 162 Dec. 28, 2020 - Pald $10,600 of other operating expense for the year Basic Acct Date Account Names Debits Credits 163 Eq Impacts 164 165 166 167 hh) Dec. 29, 2020 - Palda dividend of$10,200 to the shareholders Basic Acct Date Account Names Debits Credits 168 Eq Impacts 169 170 171 172 1) Dec 31, 2020 - There was $537 of supplies on hand at the end of the year. Basic Acct Date Debits Account Names Credits 173 Eg Impacts 174 175 176 JJ) 177 Dec 31, 2020 - Recognized the expired rent from the prior year, van [event [kl], office space [event (o)l, and the building (event) for the year. Basic Acct Date Account Names Credits Debits Eq Impacts 178 179 Instructions Beg TB Events Grid Inventory J-Es Adj TB Fin St Closing + Ready 100% kk) Dec. 31, 2020 - Recognized revenue for the current year eamed from event (bb). Basic Acct Date Account Names Debits Eq Impacts Credits II) Dec. 31, 2020 - Accrued salaries at December 31 were $1,020. Basic Acct Date Account Names Eq Impacts Debits Credits