JackJoe, Inc sells toy mice to high end pet stores It was formed on Jan 1, 20x4 with a sale of $1 par value common stock and the issuance of a Bond Following is JackJoe's trial balance after the first year of operation, through December 1 20x4 This trial balance does not reflect the transactions that occurred during the last month of the year or adjustments that are necessary, as described by the additional information The Bond payable was sold on Jan 1 20X4 and is due in 4 years, interest of 7 is payable annually on Dec 31 JackJoe, Inc Trial Balance As of December 1, 20X4 Debits Credits Cash $ 19,000 $ Accounts receivable 12,000 Supplies 5,000 Inventory 25,000 Equipment 30,000 Accumulated depreciation Accounts payable 10,000 Bond payable 32,000 Premium on bond 400 Interest payable Capital stock ($1 par) 25,000 Additional paid in capital Dividend Sales 64,000 Sales Discounts Cost of goods sold Rent expense 16,400 Salaries expense 24,000 Depreciation expense Supplies expense Interest expense $ 131,400 $ 131,400 1 JackJoe's president, Elizabeth, decided the company needed more capital, so she sold 10,000 shares of stock on December 22th for $19,000 2 JackJoe received payment to settle a $12,000 Account receivable on December 21 The terms of the receivable were 3 10, N 30 and the payment reflected that it was within the discount period 3 JackJoe sold $25,000 of toy mice, on December 22 The terms of the sale were 2 10, N 30 JackJoe uses a periodic inventory system 4 JackJoe performed a physical inventory at yearend and no inventory remained JackJoe's accounting policy is FIFO periodic 5 The equipment was purchased near the beginning of the year It has a 3 year life with no salvage value 6 Record the first interest payment on the bond 7 Supplies on hand at year end were counted, and amount to $200 8 The board of directors declared a dividend of 50 cents per share on Dec 31 The date of record is Jan 15, 20x5 and the payment date is Feb 1, 20x5 question Tell me the impact of journal entry 2, 5 and 6 on direct cash flows (inflow, outflow, no impact) and the appropriate section

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JackJoe, Inc  sells toy mice to high end pet stores  It was formed on Jan 1, 20x4 with a sale of $1 par value common stock and the issuance of a Bond  Following is JackJoe's trial balance after the first year of operation, through December 1 20x4  This trial balance does not reflect the transactions that occurred during the last month of the year or adjustments that are necessary, as described by the additional information  The Bond payable was sold on Jan 1 20X4 and is due in 4 years, interest of 7  is payable annually on Dec  31  JackJoe, Inc  Trial Balance As of December 1, 20X4 Debits Credits Cash $ 19,000 $   Accounts receivable 12,000   Supplies 5,000   Inventory 25,000   Equipment 30,000   Accumulated depreciation     Accounts payable   10,000 Bond payable   32,000 Premium on bond 400 Interest payable     Capital stock ($1 par)   25,000 Additional paid in capital   Dividend     Sales   64,000 Sales   Discounts     Cost of goods sold     Rent expense 16,400   Salaries expense 24,000   Depreciation expense     Supplies expense     Interest expense     $ 131,400 $ 131,400 1  JackJoe's president, Elizabeth, decided the company needed more capital, so she sold 10,000 shares of stock on December 22th for $19,000 2  JackJoe received payment to settle a $12,000 Account receivable on December 21  The terms of the receivable were 3 10, N 30 and the payment reflected that it was within the discount period  3  JackJoe sold $25,000 of toy mice, on December 22  The terms of the sale were 2 10, N 30  JackJoe uses a periodic inventory system  4  JackJoe performed a physical inventory at yearend and no inventory remained  JackJoe's accounting policy is FIFO periodic  5  The equipment was purchased near the beginning of the year  It has a 3 year life with no salvage value 6  Record the first interest payment on the bond  7  Supplies on hand at year end were counted, and amount to $200  8  The board of directors declared a dividend of 50 cents per share on Dec  31  The date of record is Jan 15, 20x5 and the payment date is Feb 1, 20x5  question  Tell me the impact of journal entry  2,  5 and  6 on direct cash flows (inflow, outflow, no impact) and the appropriate section

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JackJoe, Inc. sells toy mice to high end pet stores. It was formed on Jan 1, 20x4 with a sale of $1 par value common

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JackJoe, Inc. sells toy mice to high end pet stores. It was formed on Jan 1, 20x4 with a sale of $1 par value common stock and the issuance of a Bond. Following is JackJoe's trial balance after the first year of operation, through December 1 20x4. This trial balance does not reflect the transactions that occurred during the last month of the year or adjustments that are necessary, as described by the additional information. The Bond payable was sold on Jan 1 20X4 and is due in 4 years, interest of 7% is payable annually on Dec. 31.

	JackJoe, Inc.
	Trial Balance
	As of December 1, 20X4

			Debits	Credits
		Cash	$ 19,000	$ -
		Accounts receivable	12,000	-
		Supplies	5,000	-
		Inventory	25,000	-
		Equipment	30,000	-
		Accumulated depreciation	-	-
		Accounts payable	-	10,000
		Bond payable	-	32,000
		Premium on bond		400
		Interest payable	-	-
		Capital stock ($1 par)	-	25,000
		Additional paid in capital		-
		Dividend	-	-
		Sales	-	64,000
		Sales - Discounts	-	-
		Cost of goods sold	-	-
		Rent expense	16,400	-
		Salaries expense	24,000	-
		Depreciation expense	-	-
		Supplies expense	-	-
		Interest expense	-	-
			$ 131,400	$ 131,400



1. JackJoe's president, Elizabeth, decided the company needed more capital, so she sold 10,000 shares of stock on December 22th for $19,000
2. JackJoe received payment to settle a $12,000 Account receivable on December 21. The terms of the receivable were 3/10, N 30 and the payment reflected that it was within the discount period.
3. JackJoe sold $25,000 of toy mice, on December 22. The terms of the sale were 2/10, N 30. JackJoe uses a periodic inventory system.
4. JackJoe performed a physical inventory at yearend and no inventory remained. JackJoe's accounting policy is FIFO periodic.
5. The equipment was purchased near the beginning of the year. It has a 3 year life with no salvage value
6. Record the first interest payment on the bond.
7. Supplies on hand at year end were counted, and amount to $200.
8. The board of directors declared a dividend of 50 cents per share on Dec. 31. The date of record is Jan 15, 20x5 and the payment date is Feb 1, 20x5.