intelligent toys, inc (iti) is a well establish toys trading company which adopts the periodic system. iti prepares its financial statements on a monthly basis. the trial balance of iti as at 28 february 2021 is presented as follows

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Assisment Three (Deadline 6 November 2021.268 innur 241 items via Bb Assessment Test 20% of the course (400 points for 241 items accounted for 20%) Ne assessment for late submission! I'lease submit your answers three hours earlier than 6 November 2021, 23:58: Students are not allowed to share this document to others! Intelligent Toys, Inc ("TI") is a well establish toys trading company which adopts the periodic system. Il prepares its financial statements on bothly. The trial balance of ITI as at 28 February 2021 is presented as follows Intelligent Toys Inc Trial Balance As a 28 February 2021 Account No Account Title Debit Credit (5) (S) 201 Accounts Payable 420,000 2 Accounts Receivable 675.000 152 Accumulated Depreciation - Building 931,500 154 Accumulated Depreciation - Equipment 570,000 156 Accumulated Depreciation - Motor Vehicle 661.668 113 Allowance for Doubtful Accounts 20.250 151 Building 9.720.000 10L Cash 1.199.520 291 Dividends Payable 210.000 153 Equipment 90.000 115 Interes Receivable 144.000 140 Long-term investment 750,000 121 Merchandise Inventory 975,000 155 Motor Vehicle 832.500 14 Notes Receivable 2.800,000 131 Prepaid Insurance 18.000 320 Retained lamin 2.077.212 241 Salais Payable 117.000 311 Share Capital - Ordinary Si par value. 10,000,000 shares showed. 6.000.000 shares od 5.977.500 shares outstanding 6.000.000 312 Share Capital - Preference 5. S100 par valo, no 100,000 shares wuthored. 60.000 shares issued and outstanding 6.000.000 313 Share Premium Ordinary 840.000 314 Share Prem Preference 300.000 315 Share Premium-Tracy 8.000 132 Supplies 330 Trey Shares (22.500 shares) 5620 Ik 16.610 IRIR.610 8.160 The following activities took place in March: Mar. 1(a) Purchased children laptop toys from Esorbma Limited. $94,000. terms 1/10, n/30, FOB shipping point (b)The responsible party paid the freight charges of $300. The goods were collected by the shipping company on March and arrived at ITI's warehouse on 4 March 1(c) Sold 22.500 Treasury shares at $2.1 each (assuming both trade date and settlement date is on 1 March, such treasury shares were owned by investors on 2 March when share dividend was declared) (d) Purchased 10% shareholding in Charlie Limited, a supplier, as a long-term investment. The fair market value of the 10% shareholding was $3.102.000 as at 1 March. The purchase consideration included a $2,800.000 note receivable due from Charlie Limited and the related interest receivable balance of $144,000, $140,000 cash and a motor vehicle owned by ITI. The motor vehicle was originally obtained at cost $120,000. The difference between the fair value of the long-term investment and the book value of the purchase consideration assets (including cash, notes receivable, interest receivable and motor vehicle) is treated as loss on disposal (for calculation of accumulated depreciation of motor vehicle details, refer to note (c) of the additional information on page 4.) Note: Book value of motor vehicle Cost-accumulated depreciation 1(e) Sold remote control helicopters valued at $311.000 to Tnec Niv Limited, a wholesaler, terms n/20, FOB destination. The appropriate party paid delivery charges of $500. The goods were shipped on March and arrived at the warehouse of The Niv Limited on 3 March 2 A 10% share dividend was declared when the market value per share was $211. (this is treated as small dividend case) 3 Cash is received from TheeNiv Limited for the remote-control helicopters shipped on 1 March and arrived at the Warehouse of The Niv Limited on 3 March 4 Sold kids ride on cars to Vinga Limited, SI 50,000, terns n 30, FOB shipping point, 3% trade discount. The appropriate party paid freight charges of $200 The goods were shipped on 4 March and arrived at the Warehouse of Vinga Limited on 6 March S Received a statement from the liquidator of YOT Limited. The liquidator informed ITI that S12,000 will be paid to ITI at the end of March 2021 for the settlement of the $16,000 outstanding balance. YOT Limited was closed down in December 2020 and the managing director of ITI authorized to write of $16,000 on 31 December 2020, being the full amount outstanding in the Account Receivable - YOT Limited 6 Purchased supplies of $3,000 on account from Jimmy Printing and Stationery Limited 7(a) Paid cash to acquired 30.000 shares of its own at $2.2 each. ITI intends to keep the shares for several months for management bonus. The seller of the shares still entitles the share dividend declared on 2 March, the right of receiving the share dividend is not sold to ITL 7(b) Received credit memorandum of $1,800 from Esorbma Limited for goods purchased in March due to discrepancy in the color 8. Granted Vinga Limited an allowance of $970 (original price $1.000 - Trade discount S30) due to discrepancy in the color of the ride on cars. 9(a) Sold flying disc and toy swings to Action Limited. list price of $140,000 with a 20% trade discount, n 20, FOB shipping pom. The responsible party paid freight-charges of S500. The shipping document showed that the goods arrived at the Warehouse of Action Limited on 12 March Mar. 9(b) Paid Esorbma Limited for the children laptop toys bought on March and the amount of S220,000 on account for the purchase on 27 February 2021. Purchases terms with Esorbma Limited in February was 2/10, n. 30. FOB shipping point 10 Paid S180.000 for salary up to 9 March (Tuesday). All employees work a five-day week and are paisleweryfers on the following Wednesday. based on the number of days they have worked in the last four weeks. Employees are entitled to full pay on public holidays but not on Saturday and Sunday. The employees receive a total salary of $45.000 for a five-day work week 12 Received payments from Vinga Limited, for the March sales 13 Acquired 5160,000 packing equipment by signing a 90-day, 55 notes payable. ITI starfed to use the equipment in April 16 Queenie Company Limited, a customer, has financial difficulties and unable to pay the outstanding balance of $220,000. The company has a long-term relationship with Queenie, and agreed to accept a 12%, 45-day notes from the customer to settle the outstanding balance 17 Share dividends were distributed Sharcholders on the register of the company on 6 March 2021 are entitled to receive the dividend shares 21 Paid all cash dividends declared previously 25 Received from Tom Limited, $150.000, as the prepayment for the leasing of part of the Warehouse for one year from 1 April 2001 to 31 March 2022 a 27 Returned $40,000 consignment goods to Consignee Trading Limited. The goods are delivered by Consignee Trading Limited to ITI for consignment purpose in February 2021. 28 Purchased $25,000 play mats from Millan Company. FOB Destination. terms 1/10, 1/45. The shipping document showed that the goods were received on 3rd April 2021. 29 A cash dividend was declared for preference shares and a cash dividend of 5002 per stuare was declared for ordinary shares. The dividends will be paid in April 30 Received a check of S15.000 from the liquidator of YOT Limited. The liquidator issued a revised statement to inform ITI that $15,000 is the finalized amount for the settlement of the S16,000 outstanding balance. The following additional information is available on 31 March 2021 (a) Electricity incurred for the month amounted to 58,000 (b) The employees receive a total salary of $45.000 for a five-day work week. All employees worked for the whole month of March ()(n)Building. (t) equipment and (iii) motor vehicles are recorded at historical cost and their estimated useful lives are 40 years, 5 years and 5 years respectively. No residual value is expected for the building. The building was acquired on 1 May 2017. The company uses straight-line method for all buildings. All the equipment and motor vehicles are acquired on January 2018. The company uses unit of activity method to depreciate equipment and the double-declining balance method to depreciate all motor vehicles The company expects that the salvage value of the equipment and motor vehicles is 10% of the purchase cost. The equipment is for packing and the total amount of packing for 5 years are estimated to be 594,000 units. The Total packing in March amounted to 9.700 units. Annual depreciation is calculated for each year from January to 31 December, monthly depreciation is equal to (annual depreciation/12). (d) Physical count showed that $5,000 of supplies and $796.000 of merchandise inventory remained on hand at 31 March 2021. (e) The barik statement balance is $50 greater than the cash account balance. This is relating to the interest earned for the cash bulance in the bank account for March (D). The prepaid insurance was paid in last December covering a 12-month general insurance from December 2020 to November, 2021 (8) Allowance for bad debt is estimated based on 10% of the closing accounts receivable balance due to dramatical down turn of the economy (h) Recognize interest expense for the month. () Recognize interest revenue for the month. Instructions (The following is the procedures of the accounting cycle after analyzing the source documents for transactions taken place) (a) Enter the March 1 balances in the ledger accounts. (for your own reference) (b) Journalize the March transactions. The alternative treatment in Slide 18 of Lecture 4 powerpoints is not adopted by ITI. Use the accounts provided in the chart of accounts on page 15 (c) Post to the ledger accounts. (for your own reference) (d) Prepare a trial balance at 31 March 2021. (for your own reference) (e) Journalize and post adjusting entries. (posting is for your own reference) (t) Prepare an adjusted trial balance. (8) Prepare an income statement and a retained earnings statement for March and a statement of financial position as at 31 March 2021. Conyright of the assignment Requirement 1 (128 points) 1 point for each item Input if no entry is needed! "With more than one debit entry or more than one credit entry, input the entries with smaller Account No. first Date Dr Cr Mar I (a) Dr Cr Mar 1 (b) Dr C "Mar 1(c) De Dr D: Cr "Mar 1 (d) Dr Long Term Investment Dr Dr | Cr Cr Cr CP Mar 1 (e) DI Cr "Mar 2 Dr Cr CE Mar 3 Dr CE Mar 4 Dr Cr Mar 5 Dr CF Mar 6 Dr Cr Mar 7(a) Dr Cr Mar 7 (b) Dr Cr Account No. Item! Item 3 Items Item Item lichn| Item13 Items Item 17 Item 19 Item21 Item23 Items Item27 Item 29 Item 31 Item33 Item3s Item37 Item 39 Itemi Item 43 Item 45 Item 7 Item 19 Item51 Item 53 Items Items ItemS9 Item61 Item63 LAmounts Item 2 Item 4 Item 6 Item 8 Item 10 Item 12 Item 14 Item 16 Item 18 Item 20 Item 22 Item 24 Item 26 Item 28 Item 30 Item 32 Item 34 Item 36 Item 3 Item 40 Item 42 Item 44 Item 46 Item 48 Item 50 Item 32 hem 54 tiem S6 Item 58 Item 60 leHH 62 Item 64 SUBSGS & 8 Requirement cont'd) Account No. Itemos Item2 Item69 Item 1 Item23 Item 75 Item 77 Item 79 Items! Item 3 Items Item87 Date Der Mar 8 Dr CY Mar 9(a) Dr Cr "Mar 9(b) Dr Cr Cr "Mar 10 Dr De Mar 12 Dr Cr Mar 13 Dr Cr Mar 16 Dr Cr Mar 17 De Cr Mar 21 De Cr Mar 25 De Cr Mar 27 DE Cr Mar 2x De Cr Mar 29 Dr Cr Mar 30 Dr Cr Dr Cash Cr Amounts Item 66 Item 68 Item 70 Item 72 Item 74 Item 76 Item 7% Item 80 Item 82 Item X4 Item 86 Item 88 Item 90 Item 92 Item 94 Item 96 Item 98 Item 100) Item 102 Item 104 Item 106 Item 108 Item 110 Item 112 Item 114 Item89 Item91 Item 93 Item95 Item 97 Item 99 Item 101 Item 103 Item 105 Item 107 Item 109 Item 11 Item 113 Item 115 Item 117 Item 119 Item 121 Item123 Item 116 Item 118 Item 120 Item 122 Item 124 Item 126 Item 128 Item 125 Item 127 Requirement 3.106 points) 2 points for each item Adjusted Trial Balance at 31 March 2021 Dr S Crs Account No 201 112 152 154 156 Accounts Payable Accounts Receivable Accumulated Dawreciation Building Accumulated Depreciation Equipe Accumulated Depreciation Moldeschicle Allowance for Do Accounts B Debt Expense Building Cash Depreciation Expense Building Depreciation Expense liquipment Depreciation lip Motor Vehicle Dividends Payable Equipment Fichia Freightout Fuel Exp Gain on Disposal Insecta 611 1S1 101 11 212 213 291 153 514 612 613 820 615 63. 221 115 413 150 140 620 121 630 155 231 114 316 131 313 ESTE 511 320 16 241 411 410 311 312 213 314 315 132 618 1930 281 619 Tits Payable Trent Receivable Inc Rc Land Long-term Instient Loss Dial Merchandise lowentary Miscellaneous pense Motor Vehick Notes Payable Notes Receivable Diary Share Datends Distribute Posporidiusurance Purchase wounta Parchowe Ram and Alones Purces Retained lamingo Salaried lipcase Salarica Payable Sales Returns and Acces Sales Revenue Share Capital Ordinary Share Capital - Prince Share Premium Odry Stor Premium Pere Slar Premium Try Item 173 Item 174 Isot 175 Item 176 Itcm 127 Tem 178 cm 129 Item 180 lec 181 lieu 18 Tien 185 Item 184 In 185 Item 186 fren 17 Item is Tom 189 Item 100 tiem 191 cm 192 liu 9) The m 191 I 195 Then 196 licm 192 Hai 197 Iscm199 Alem 200 Tom 1 cano Teen 203 Tiem Item 205 Den 2016 Tem 207 Tem 20N cm 109 sce 210 Toen 211 Tem 212 Bien 213 cm 214 Item 213 Item 216 lem12 m2 Den 219 Item 220 llom 220 B 222 Item22 Supplies Experts Tray Shan Ungard Rent Revue Utca 233 11 Requirement 4 (78 points) 5 points for each item except Item 234 Intelligent Toys, Inc. Income Statement For the month ended 31 March 2021 -- Net Sales Item 226 Cost of goods purchased Item 227 Cost of goods available for sale Item 228 Cost of Goods Sold Gross Profit Item 229 Item 230 Total operation expense Item 231 Operating Profit Item 232 Net Income Item 233 12 Intelligent Toys, Inc Statement of Financial Position as at 31 March 2021 Property. Plant and Equipment Current Liabilities Sub-total Long Term Investments Current Assets Item 235 Item 236 Sub total Equity Item 239 Sub-total Total Assets Item 237 Item 238 Sub-total Tot Liabile Equity Item 240 Item 241 14 Intelligent Toys, Inc. Retained Earnings Statement For the month ended 31 March 2021 Ending retained Earnings (3 points) Item 234 " . Chart of Accounts Account No 201 112 152 154 15G 113 611 151 101 711 712 713 291 153 514 612 613 820 615 631 221 115 415 150 140 G20 Account Names Accounts Payable (including utilities payable) Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation Equipment Accumulated Depreciation - Motor vehicle Allowance for Doubtful Accounts Bad Debt Expense Building Cash Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Motor Vehicle Dividends Payable Equipment Freight-in Freiht out Fuel Expense Gain on Disposal Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Land Long term Investment Loss on Disposal Account No 121 630 155 231 114 316 131 513 512 511 320 241 616 410 411 311 312 313 314 315 132 618 330 Account Names Merchandise Inventory Miscellaneous Expense Motor Vehicle Notes Payable Notes Receivable Ordinary Share Dividends Distributable Prepaid Insurance Purchase Discounts Purchase Returns and Allowances Purchases Retained Earnings Salaries Payable Salaries Expense Sales Revenue Sales Returns and Allowances Share Capital - Ordinary Share Capital Preference Share Premium - Ordinary Share Premium - Preference Share Premium-Treasury Supplies Supplies Expense Treasury Shares Unearned Rent Revenue Utilities Expense 281 619 15 Assisment Three (Deadline 6 November 2021.268 innur 241 items via Bb Assessment Test 20% of the course (400 points for 241 items accounted for 20%) Ne assessment for late submission! I'lease submit your answers three hours earlier than 6 November 2021, 23:58: Students are not allowed to share this document to others! Intelligent Toys, Inc ("TI") is a well establish toys trading company which adopts the periodic system. Il prepares its financial statements on bothly. The trial balance of ITI as at 28 February 2021 is presented as follows Intelligent Toys Inc Trial Balance As a 28 February 2021 Account No Account Title Debit Credit (5) (S) 201 Accounts Payable 420,000 2 Accounts Receivable 675.000 152 Accumulated Depreciation - Building 931,500 154 Accumulated Depreciation - Equipment 570,000 156 Accumulated Depreciation - Motor Vehicle 661.668 113 Allowance for Doubtful Accounts 20.250 151 Building 9.720.000 10L Cash 1.199.520 291 Dividends Payable 210.000 153 Equipment 90.000 115 Interes Receivable 144.000 140 Long-term investment 750,000 121 Merchandise Inventory 975,000 155 Motor Vehicle 832.500 14 Notes Receivable 2.800,000 131 Prepaid Insurance 18.000 320 Retained lamin 2.077.212 241 Salais Payable 117.000 311 Share Capital - Ordinary Si par value. 10,000,000 shares showed. 6.000.000 shares od 5.977.500 shares outstanding 6.000.000 312 Share Capital - Preference 5. S100 par valo, no 100,000 shares wuthored. 60.000 shares issued and outstanding 6.000.000 313 Share Premium Ordinary 840.000 314 Share Prem Preference 300.000 315 Share Premium-Tracy 8.000 132 Supplies 330 Trey Shares (22.500 shares) 5620 Ik 16.610 IRIR.610 8.160 The following activities took place in March: Mar. 1(a) Purchased children laptop toys from Esorbma Limited. $94,000. terms 1/10, n/30, FOB shipping point (b)The responsible party paid the freight charges of $300. The goods were collected by the shipping company on March and arrived at ITI's warehouse on 4 March 1(c) Sold 22.500 Treasury shares at $2.1 each (assuming both trade date and settlement date is on 1 March, such treasury shares were owned by investors on 2 March when share dividend was declared) (d) Purchased 10% shareholding in Charlie Limited, a supplier, as a long-term investment. The fair market value of the 10% shareholding was $3.102.000 as at 1 March. The purchase consideration included a $2,800.000 note receivable due from Charlie Limited and the related interest receivable balance of $144,000, $140,000 cash and a motor vehicle owned by ITI. The motor vehicle was originally obtained at cost $120,000. The difference between the fair value of the long-term investment and the book value of the purchase consideration assets (including cash, notes receivable, interest receivable and motor vehicle) is treated as loss on disposal (for calculation of accumulated depreciation of motor vehicle details, refer to note (c) of the additional information on page 4.) Note: Book value of motor vehicle Cost-accumulated depreciation 1(e) Sold remote control helicopters valued at $311.000 to Tnec Niv Limited, a wholesaler, terms n/20, FOB destination. The appropriate party paid delivery charges of $500. The goods were shipped on March and arrived at the warehouse of The Niv Limited on 3 March 2 A 10% share dividend was declared when the market value per share was $211. (this is treated as small dividend case) 3 Cash is received from TheeNiv Limited for the remote-control helicopters shipped on 1 March and arrived at the Warehouse of The Niv Limited on 3 March 4 Sold kids ride on cars to Vinga Limited, SI 50,000, terns n 30, FOB shipping point, 3% trade discount. The appropriate party paid freight charges of $200 The goods were shipped on 4 March and arrived at the Warehouse of Vinga Limited on 6 March S Received a statement from the liquidator of YOT Limited. The liquidator informed ITI that S12,000 will be paid to ITI at the end of March 2021 for the settlement of the $16,000 outstanding balance. YOT Limited was closed down in December 2020 and the managing director of ITI authorized to write of $16,000 on 31 December 2020, being the full amount outstanding in the Account Receivable - YOT Limited 6 Purchased supplies of $3,000 on account from Jimmy Printing and Stationery Limited 7(a) Paid cash to acquired 30.000 shares of its own at $2.2 each. ITI intends to keep the shares for several months for management bonus. The seller of the shares still entitles the share dividend declared on 2 March, the right of receiving the share dividend is not sold to ITL 7(b) Received credit memorandum of $1,800 from Esorbma Limited for goods purchased in March due to discrepancy in the color 8. Granted Vinga Limited an allowance of $970 (original price $1.000 - Trade discount S30) due to discrepancy in the color of the ride on cars. 9(a) Sold flying disc and toy swings to Action Limited. list price of $140,000 with a 20% trade discount, n 20, FOB shipping pom. The responsible party paid freight-charges of S500. The shipping document showed that the goods arrived at the Warehouse of Action Limited on 12 March Mar. 9(b) Paid Esorbma Limited for the children laptop toys bought on March and the amount of S220,000 on account for the purchase on 27 February 2021. Purchases terms with Esorbma Limited in February was 2/10, n. 30. FOB shipping point 10 Paid S180.000 for salary up to 9 March (Tuesday). All employees work a five-day week and are paisleweryfers on the following Wednesday. based on the number of days they have worked in the last four weeks. Employees are entitled to full pay on public holidays but not on Saturday and Sunday. The employees receive a total salary of $45.000 for a five-day work week 12 Received payments from Vinga Limited, for the March sales 13 Acquired 5160,000 packing equipment by signing a 90-day, 55 notes payable. ITI starfed to use the equipment in April 16 Queenie Company Limited, a customer, has financial difficulties and unable to pay the outstanding balance of $220,000. The company has a long-term relationship with Queenie, and agreed to accept a 12%, 45-day notes from the customer to settle the outstanding balance 17 Share dividends were distributed Sharcholders on the register of the company on 6 March 2021 are entitled to receive the dividend shares 21 Paid all cash dividends declared previously 25 Received from Tom Limited, $150.000, as the prepayment for the leasing of part of the Warehouse for one year from 1 April 2001 to 31 March 2022 a 27 Returned $40,000 consignment goods to Consignee Trading Limited. The goods are delivered by Consignee Trading Limited to ITI for consignment purpose in February 2021. 28 Purchased $25,000 play mats from Millan Company. FOB Destination. terms 1/10, 1/45. The shipping document showed that the goods were received on 3rd April 2021. 29 A cash dividend was declared for preference shares and a cash dividend of 5002 per stuare was declared for ordinary shares. The dividends will be paid in April 30 Received a check of S15.000 from the liquidator of YOT Limited. The liquidator issued a revised statement to inform ITI that $15,000 is the finalized amount for the settlement of the S16,000 outstanding balance. The following additional information is available on 31 March 2021 (a) Electricity incurred for the month amounted to 58,000 (b) The employees receive a total salary of $45.000 for a five-day work week. All employees worked for the whole month of March ()(n)Building. (t) equipment and (iii) motor vehicles are recorded at historical cost and their estimated useful lives are 40 years, 5 years and 5 years respectively. No residual value is expected for the building. The building was acquired on 1 May 2017. The company uses straight-line method for all buildings. All the equipment and motor vehicles are acquired on January 2018. The company uses unit of activity method to depreciate equipment and the double-declining balance method to depreciate all motor vehicles The company expects that the salvage value of the equipment and motor vehicles is 10% of the purchase cost. The equipment is for packing and the total amount of packing for 5 years are estimated to be 594,000 units. The Total packing in March amounted to 9.700 units. Annual depreciation is calculated for each year from January to 31 December, monthly depreciation is equal to (annual depreciation/12). (d) Physical count showed that $5,000 of supplies and $796.000 of merchandise inventory remained on hand at 31 March 2021. (e) The barik statement balance is $50 greater than the cash account balance. This is relating to the interest earned for the cash bulance in the bank account for March (D). The prepaid insurance was paid in last December covering a 12-month general insurance from December 2020 to November, 2021 (8) Allowance for bad debt is estimated based on 10% of the closing accounts receivable balance due to dramatical down turn of the economy (h) Recognize interest expense for the month. () Recognize interest revenue for the month. Instructions (The following is the procedures of the accounting cycle after analyzing the source documents for transactions taken place) (a) Enter the March 1 balances in the ledger accounts. (for your own reference) (b) Journalize the March transactions. The alternative treatment in Slide 18 of Lecture 4 powerpoints is not adopted by ITI. Use the accounts provided in the chart of accounts on page 15 (c) Post to the ledger accounts. (for your own reference) (d) Prepare a trial balance at 31 March 2021. (for your own reference) (e) Journalize and post adjusting entries. (posting is for your own reference) (t) Prepare an adjusted trial balance. (8) Prepare an income statement and a retained earnings statement for March and a statement of financial position as at 31 March 2021. Conyright of the assignment Requirement 1 (128 points) 1 point for each item Input if no entry is needed! "With more than one debit entry or more than one credit entry, input the entries with smaller Account No. first Date Dr Cr Mar I (a) Dr Cr Mar 1 (b) Dr C "Mar 1(c) De Dr D: Cr "Mar 1 (d) Dr Long Term Investment Dr Dr | Cr Cr Cr CP Mar 1 (e) DI Cr "Mar 2 Dr Cr CE Mar 3 Dr CE Mar 4 Dr Cr Mar 5 Dr CF Mar 6 Dr Cr Mar 7(a) Dr Cr Mar 7 (b) Dr Cr Account No. Item! Item 3 Items Item Item lichn| Item13 Items Item 17 Item 19 Item21 Item23 Items Item27 Item 29 Item 31 Item33 Item3s Item37 Item 39 Itemi Item 43 Item 45 Item 7 Item 19 Item51 Item 53 Items Items ItemS9 Item61 Item63 LAmounts Item 2 Item 4 Item 6 Item 8 Item 10 Item 12 Item 14 Item 16 Item 18 Item 20 Item 22 Item 24 Item 26 Item 28 Item 30 Item 32 Item 34 Item 36 Item 3 Item 40 Item 42 Item 44 Item 46 Item 48 Item 50 Item 32 hem 54 tiem S6 Item 58 Item 60 leHH 62 Item 64 SUBSGS & 8 Requirement cont'd) Account No. Itemos Item2 Item69 Item 1 Item23 Item 75 Item 77 Item 79 Items! Item 3 Items Item87 Date Der Mar 8 Dr CY Mar 9(a) Dr Cr "Mar 9(b) Dr Cr Cr "Mar 10 Dr De Mar 12 Dr Cr Mar 13 Dr Cr Mar 16 Dr Cr Mar 17 De Cr Mar 21 De Cr Mar 25 De Cr Mar 27 DE Cr Mar 2x De Cr Mar 29 Dr Cr Mar 30 Dr Cr Dr Cash Cr Amounts Item 66 Item 68 Item 70 Item 72 Item 74 Item 76 Item 7% Item 80 Item 82 Item X4 Item 86 Item 88 Item 90 Item 92 Item 94 Item 96 Item 98 Item 100) Item 102 Item 104 Item 106 Item 108 Item 110 Item 112 Item 114 Item89 Item91 Item 93 Item95 Item 97 Item 99 Item 101 Item 103 Item 105 Item 107 Item 109 Item 11 Item 113 Item 115 Item 117 Item 119 Item 121 Item123 Item 116 Item 118 Item 120 Item 122 Item 124 Item 126 Item 128 Item 125 Item 127 Requirement 3.106 points) 2 points for each item Adjusted Trial Balance at 31 March 2021 Dr S Crs Account No 201 112 152 154 156 Accounts Payable Accounts Receivable Accumulated Dawreciation Building Accumulated Depreciation Equipe Accumulated Depreciation Moldeschicle Allowance for Do Accounts B Debt Expense Building Cash Depreciation Expense Building Depreciation Expense liquipment Depreciation lip Motor Vehicle Dividends Payable Equipment Fichia Freightout Fuel Exp Gain on Disposal Insecta 611 1S1 101 11 212 213 291 153 514 612 613 820 615 63. 221 115 413 150 140 620 121 630 155 231 114 316 131 313 ESTE 511 320 16 241 411 410 311 312 213 314 315 132 618 1930 281 619 Tits Payable Trent Receivable Inc Rc Land Long-term Instient Loss Dial Merchandise lowentary Miscellaneous pense Motor Vehick Notes Payable Notes Receivable Diary Share Datends Distribute Posporidiusurance Purchase wounta Parchowe Ram and Alones Purces Retained lamingo Salaried lipcase Salarica Payable Sales Returns and Acces Sales Revenue Share Capital Ordinary Share Capital - Prince Share Premium Odry Stor Premium Pere Slar Premium Try Item 173 Item 174 Isot 175 Item 176 Itcm 127 Tem 178 cm 129 Item 180 lec 181 lieu 18 Tien 185 Item 184 In 185 Item 186 fren 17 Item is Tom 189 Item 100 tiem 191 cm 192 liu 9) The m 191 I 195 Then 196 licm 192 Hai 197 Iscm199 Alem 200 Tom 1 cano Teen 203 Tiem Item 205 Den 2016 Tem 207 Tem 20N cm 109 sce 210 Toen 211 Tem 212 Bien 213 cm 214 Item 213 Item 216 lem12 m2 Den 219 Item 220 llom 220 B 222 Item22 Supplies Experts Tray Shan Ungard Rent Revue Utca 233 11 Requirement 4 (78 points) 5 points for each item except Item 234 Intelligent Toys, Inc. Income Statement For the month ended 31 March 2021 -- Net Sales Item 226 Cost of goods purchased Item 227 Cost of goods available for sale Item 228 Cost of Goods Sold Gross Profit Item 229 Item 230 Total operation expense Item 231 Operating Profit Item 232 Net Income Item 233 12 Intelligent Toys, Inc Statement of Financial Position as at 31 March 2021 Property. Plant and Equipment Current Liabilities Sub-total Long Term Investments Current Assets Item 235 Item 236 Sub total Equity Item 239 Sub-total Total Assets Item 237 Item 238 Sub-total Tot Liabile Equity Item 240 Item 241 14 Intelligent Toys, Inc. Retained Earnings Statement For the month ended 31 March 2021 Ending retained Earnings (3 points) Item 234 " . Chart of Accounts Account No 201 112 152 154 15G 113 611 151 101 711 712 713 291 153 514 612 613 820 615 631 221 115 415 150 140 G20 Account Names Accounts Payable (including utilities payable) Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation Equipment Accumulated Depreciation - Motor vehicle Allowance for Doubtful Accounts Bad Debt Expense Building Cash Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Motor Vehicle Dividends Payable Equipment Freight-in Freiht out Fuel Expense Gain on Disposal Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Land Long term Investment Loss on Disposal Account No 121 630 155 231 114 316 131 513 512 511 320 241 616 410 411 311 312 313 314 315 132 618 330 Account Names Merchandise Inventory Miscellaneous Expense Motor Vehicle Notes Payable Notes Receivable Ordinary Share Dividends Distributable Prepaid Insurance Purchase Discounts Purchase Returns and Allowances Purchases Retained Earnings Salaries Payable Salaries Expense Sales Revenue Sales Returns and Allowances Share Capital - Ordinary Share Capital Preference Share Premium - Ordinary Share Premium - Preference Share Premium-Treasury Supplies Supplies Expense Treasury Shares Unearned Rent Revenue Utilities Expense 281 619 15