Jack Hammer Company completed the following transactions The annual accounting period ends December 31 Apr 30 Received $864,000 from Commerce Bank after signing a 12 month, 8 00 percent, promissory note June 6 Purchased merchandise on account at a cost of $97,000 (Assume a perpetual inventory system ) July 15 Paid for the June 6 purchase Aug 31 Signed a contract to provide security service to a small apartment complex starting in September, and collected six months fees in advance, amounting to $35,000 Dec 31 Determined salary and wages of $62,000 were earned but not yet paid as of December 31 (ignore payroll taxes) Dec 31 Adjusted the accounts at year end, relating to interest Dec 31 Adjusted the accounts at year end, relating to security service Required For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation For each item, indicate whether the debt to assets ratio is increased or decreased or there is no change (Assume Jack Hammers debt to assets ratio is less than 1 0 ) Complete this question by entering your answers in the tabs belo Required 1 Required 2 For each item, indicate whether the debt to assets ratio is increased or de Hammer's debt to assets ratio is less than 1 0 ) (Enter your answers in tr Date Apr 30 June 6 July 15 Effect on Ratio No Change No Change No Change No Change Numerator No Change X No Change No Change No Change Denominator No Change X No Change No Change No Change X X Aug 31 Dec 31 Increased Increased No Change Decreased Dec Increased 31 No Change Decreased Dec 31 Decreased No Change accounts, amounts, and effects on the accounting equation (Do not round intermediate calculations Round your answers to the nearest uity with a minus sign Enter your answers in transaction order provided in the problem statement ) Shou Liabilities Stockholders' Equity Notes Payable (short term) Accounts Payable Accounts Payable Deferred Revenue 864,000 97,000 (97,000) 35,000 62,000 46,080 (23,333) Salaries and Wages Payable Salaries and Wages Expense Interest Payable Interest Expense (62,000) (46,080) 23,333 Service Revenue Other Revenue

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Jack Hammer Company completed the following transactions. The annual accounting period ends December 31. Apr. 30 Received $864,000 from Commerce Bank after signing a 12-month,

Jack Hammer Company completed the following transactions. The annual accounting period ends December 31.

Apr.	30	Received $864,000 from Commerce Bank after signing a 12-month, 8.00 percent, promissory note.
June	6	Purchased merchandise on account at a cost of $97,000. (Assume a perpetual inventory system.)
July	15	Paid for the June 6 purchase.
Aug.	31	Signed a contract to provide security service to a small apartment complex starting in September, and collected six months fees in advance, amounting to $35,000.
Dec.	31	Determined salary and wages of $62,000 were earned but not yet paid as of December 31 (ignore payroll taxes).
Dec.	31	Adjusted the accounts at year-end, relating to interest.
Dec.	31	Adjusted the accounts at year-end, relating to security service.

Required:

For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation.
For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume Jack Hammers debt-to-assets ratio is less than 1.0.)

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Complete this question by entering your answers in the tabs belo Required 1 Required 2 --- ---- For each item, indicate whether the debt-to-assets ratio is increased or de Hammer's debt-to-assets ratio is less than 1.0.) (Enter your answers in tr Date Apr. 30 June 6 July 15 Effect on Ratio No Change No Change No Change No Change Numerator No Change X No Change > No Change No Change Denominator No Change X No Change No Change No Change X X Aug. 31 Dec. 31 Increased Increased No Change Decreased Dec. Increased 31 No Change Decreased Dec. 31 Decreased No Change accounts, amounts, and effects on the accounting equation. (Do not round intermediate calculations. Round your answers to the nearest uity with a minus sign. Enter your answers in transaction order provided in the problem statement.) Shou Liabilities Stockholders' Equity Notes Payable (short-term) Accounts Payable Accounts Payable Deferred Revenue 864,000 97,000 (97,000) 35,000 62,000 46,080 (23,333) Salaries and Wages Payable Salaries and Wages Expense Interest Payable Interest Expense (62,000) (46,080) 23,333 Service Revenue Other Revenue