Ivanhoe Company's balance sheet at December 31, 2021, is presented below. Ivanhoe Company Balance Sheet December 31, 2021 Cash $13,890 Accounts payable $8,120 Accounts receivable 19,400 Common stock 20,800 Allowance for doubtful accounts Retained earnings (750) 12,700 Inventory 9,080 $41,620 $41,620 During January 2022, the following transactions occurred. Ivanhoe uses the perpetu method. Ivanhoe accepted a 4-month. S% note from Betheny Company in payment SI.200 account. Jan. 1 hp Document3 - Word Mailings Review View Tell me what you want to do... AaBbCeDd AabCcDd AaBbC AaBbCcD AaBbCcl AaBbCeDd Aa T Normal 1 No Spac.. Heading 1 Heading 2 Heading 4 Heading 5 Title Paragraph Styles During January 2022, the following transactions occurred. Ivanhoe uses the perpetual inventory method. Jan. 1 Ivanhoe accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $1,200 account. Ivanhoe wrote off as uncollectible the accounts of Walter Corporation ($500) and Drake Company ($300). 3 8 Ivanhoe purchased $15,630 of inventory on account. 11 Ivanhoe sold for $25,500 on account inventory that cost $17,210. 15 Ivanhoe sold inventory that cost $730 to Jack Rice for $1,100. Rice charged this amount on his Visa First Bank card. The service fee charged Ivanhoe by First Bank is 3%. 17 Ivanhoe collected $21,000 from customers on account. 21 Ivanhoe paid S17,380 on accounts payable. AaBbCcDd AaBbCcDd AaBbC AaBbCcD AaBbCcl AaBbCcDd 1 No Spac... Heading 1 Heading 2 Heading 4 1 Normal Heading 5 Paragraph Styles 24 Ivanhoe received payment in full ($300) from Drake Company on the account written off on January 3. 27 Ivanhoe purchased advertising supplies for $1,420 cash 31 Ivanhoe paid other operating expenses, $3,280. Adjustment data: 1. Interest is recorded for the month on the note from January 1 I 2. Bad debts are expected to be 6 % of the January 31, 2022, accounts receivable. 3. A count of advertising supplies on January 31, 2022. reveals that $600 remains unused 4. The income tax rate is 30%. (Hint : Prepare the income statement up to Income before taxes and multiply by 30% to compute the amount: round to whole dollars.) (You may want to set up T-accounts to determine ending balances.) Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual inventory system.) (Round answers to 0 decimal places, w Document3- Word Tell me what you want to do... Review View gs AaBbCcDd AaBbCeDd AaBbC Aa BBCCD AaBbCel AaBbCcDd AaB 1 Normal 1 No Spac... Heading 1 Heading 2 Heading 4 Heading 5 Title Styles Paragraph Te on aAia 13 JU70. .TIcpaC u coL 3CIcur up wmcom ocIoC aAc3 and multiply by 30% to compute the amount; round to whole dollars.) (You may want to set up T-accounts to determine ending balances.) Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual inventory system.) (Round answers to 0 decimal places, e.g. 1,250. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record jo urnal entries in the order presented in the problem) Account Titles and Credit Date Debit Explanation choose a transaction enter a debit enter a credit enter an account title date amount amount enter a credit enter a debit enter an account title amount amount choose a transaction enter a debit enter a credit enter an account title date amount amount Document3 - Word Mailings Review View Tell me what you want to do... AaBbCcDd AaBbCcDd AaBbC AaBbCcD AaBbCel AaBbCcDd Aa 1 Normal 1 No Spac.. Heading 1 Heading 2 Heading 4 Heading 5 Title Paragraph Styles Prepare an adjusted trial balance at January 31, 2022. (Round answers to 0 decimal places, e.g. 1,250.) IVANHOE COMPANY Adjusted Trial Balance choose the accounting period Debit Credit Senter a debit enter an account title $enter a credit balance balance enter a debit balance enter an account title enter a credit balance enter a debit balance enter an account title enter a credit balance enter a debit balance enter an account title enter a credit balance enter an account title enter a debit balance enter a credit balance enter an account title enter a debit balance enter a credit balance enter an account title enter a debit balance enter a credit balance Document3 - Word Review Tell me what you want to do... View -E AaBbCcDd AaBbCcDd AaBbC AaBbCcD AaBbCcl AaBbCc Dd Aa 1 Normal No Spac.... Heading 1 Heading 2 Heading 4 Heading 5 Title Paragraph Styles Prepare an income statement for the month ending January 31, 2022. (Round answers to 0 decimal places, e.g. 1,250.) IVANHOE COMPANY Income Statement choose the accounting period select an opening name for the first Senter a dollar part amount enter a dollar amount enter an income statement item select a summarizing line for the first enter a total amount for the first part part select an opening name for section one Paragraph Styles select a closing name for this Senter a total net income statement or loss amount eTextbook and Media List of Accounts Prepare a retained earnings statement for the month ending January 31, 2022. (Round answers to 0 decimal places, e.g. 1,250.) IVANHOE COMPANY Retained Earnings Statement choose the accounting period select an opening $enter a dollar amount name enter a dollar select between addition and deduction amount select an item select a closing $enter a total amount name eTextbook and Media List of Accounts Prepare a classified balance sheet as of January 31, 2022. (List Current Assets in order of liquidity. Round answers to 0 decimal places, e.g. 1,250.) hp Ivanhoe Company's balance sheet at December 31, 2021, is presented below. Ivanhoe Company Balance Sheet December 31, 2021 Cash $13,890 Accounts payable $8,120 Accounts receivable 19,400 Common stock 20,800 Allowance for doubtful accounts Retained earnings (750) 12,700 Inventory 9,080 $41,620 $41,620 During January 2022, the following transactions occurred. Ivanhoe uses the perpetu method. Ivanhoe accepted a 4-month. S% note from Betheny Company in payment SI.200 account. Jan. 1 hp Document3 - Word Mailings Review View Tell me what you want to do... AaBbCeDd AabCcDd AaBbC AaBbCcD AaBbCcl AaBbCeDd Aa T Normal 1 No Spac.. Heading 1 Heading 2 Heading 4 Heading 5 Title Paragraph Styles During January 2022, the following transactions occurred. Ivanhoe uses the perpetual inventory method. Jan. 1 Ivanhoe accepted a 4-month, 8% note from Betheny Company in payment of Betheny's $1,200 account. Ivanhoe wrote off as uncollectible the accounts of Walter Corporation ($500) and Drake Company ($300). 3 8 Ivanhoe purchased $15,630 of inventory on account. 11 Ivanhoe sold for $25,500 on account inventory that cost $17,210. 15 Ivanhoe sold inventory that cost $730 to Jack Rice for $1,100. Rice charged this amount on his Visa First Bank card. The service fee charged Ivanhoe by First Bank is 3%. 17 Ivanhoe collected $21,000 from customers on account. 21 Ivanhoe paid S17,380 on accounts payable. AaBbCcDd AaBbCcDd AaBbC AaBbCcD AaBbCcl AaBbCcDd 1 No Spac... Heading 1 Heading 2 Heading 4 1 Normal Heading 5 Paragraph Styles 24 Ivanhoe received payment in full ($300) from Drake Company on the account written off on January 3. 27 Ivanhoe purchased advertising supplies for $1,420 cash 31 Ivanhoe paid other operating expenses, $3,280. Adjustment data: 1. Interest is recorded for the month on the note from January 1 I 2. Bad debts are expected to be 6 % of the January 31, 2022, accounts receivable. 3. A count of advertising supplies on January 31, 2022. reveals that $600 remains unused 4. The income tax rate is 30%. (Hint : Prepare the income statement up to Income before taxes and multiply by 30% to compute the amount: round to whole dollars.) (You may want to set up T-accounts to determine ending balances.) Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual inventory system.) (Round answers to 0 decimal places, w Document3- Word Tell me what you want to do... Review View gs AaBbCcDd AaBbCeDd AaBbC Aa BBCCD AaBbCel AaBbCcDd AaB 1 Normal 1 No Spac... Heading 1 Heading 2 Heading 4 Heading 5 Title Styles Paragraph Te on aAia 13 JU70. .TIcpaC u coL 3CIcur up wmcom ocIoC aAc3 and multiply by 30% to compute the amount; round to whole dollars.) (You may want to set up T-accounts to determine ending balances.) Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual inventory system.) (Round answers to 0 decimal places, e.g. 1,250. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record jo urnal entries in the order presented in the problem) Account Titles and Credit Date Debit Explanation choose a transaction enter a debit enter a credit enter an account title date amount amount enter a credit enter a debit enter an account title amount amount choose a transaction enter a debit enter a credit enter an account title date amount amount Document3 - Word Mailings Review View Tell me what you want to do... AaBbCcDd AaBbCcDd AaBbC AaBbCcD AaBbCel AaBbCcDd Aa 1 Normal 1 No Spac.. Heading 1 Heading 2 Heading 4 Heading 5 Title Paragraph Styles Prepare an adjusted trial balance at January 31, 2022. (Round answers to 0 decimal places, e.g. 1,250.) IVANHOE COMPANY Adjusted Trial Balance choose the accounting period Debit Credit Senter a debit enter an account title $enter a credit balance balance enter a debit balance enter an account title enter a credit balance enter a debit balance enter an account title enter a credit balance enter a debit balance enter an account title enter a credit balance enter an account title enter a debit balance enter a credit balance enter an account title enter a debit balance enter a credit balance enter an account title enter a debit balance enter a credit balance Document3 - Word Review Tell me what you want to do... View -E AaBbCcDd AaBbCcDd AaBbC AaBbCcD AaBbCcl AaBbCc Dd Aa 1 Normal No Spac.... Heading 1 Heading 2 Heading 4 Heading 5 Title Paragraph Styles Prepare an income statement for the month ending January 31, 2022. (Round answers to 0 decimal places, e.g. 1,250.) IVANHOE COMPANY Income Statement choose the accounting period select an opening name for the first Senter a dollar part amount enter a dollar amount enter an income statement item select a summarizing line for the first enter a total amount for the first part part select an opening name for section one Paragraph Styles select a closing name for this Senter a total net income statement or loss amount eTextbook and Media List of Accounts Prepare a retained earnings statement for the month ending January 31, 2022. (Round answers to 0 decimal places, e.g. 1,250.) IVANHOE COMPANY Retained Earnings Statement choose the accounting period select an opening $enter a dollar amount name enter a dollar select between addition and deduction amount select an item select a closing $enter a total amount name eTextbook and Media List of Accounts Prepare a classified balance sheet as of January 31, 2022. (List Current Assets in order of liquidity. Round answers to 0 decimal places, e.g. 1,250.) hp