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Need help on Dec.20-Dec 31 EZ Curb Company completed the following transactions. The annual accounting period ends December 31. Jan. 8 Purchased merchandise on account

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Need help on Dec.20-Dec 31

EZ Curb Company completed the following transactions. The annual accounting period ends December 31. Jan. 8 Purchased merchandise on account at a cost of $14,500. (Assume a perpetual inventory system. ) Jan. 17 Paid for the January 8 purchase. Apr. 1 Received $40,800 from National Bank after signing a 12-month, 6.5 percent, promissory note. June 3 Purchased merchandise on account at a cost of $18,500. July 5 Paid for the June 3 purchase. July 31 Rented out a small office in a building owned by EZ Curb Company and collected six months' rent in advance, amounting to $6,300. (Use an account called Deferred Revenue.) Dec. 20 Collected $110 cash on account from a customer. Dec. 31 Determined that wages of $6,700 were earned but not yet paid on 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 rent. Required: 1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. 2. For each transaction and related adjusting entry, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume EZ Curb Company's debt-to-assets ratio has always been less than 1.0.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. (Do not round intermediate calculations. E or stockholders equity with a minus sign. Enter your answers in transaction order provided in the problem statement.) Date Assets Stockholders' Equity Jan. 8 [ 14,500 (14,500) Jan. 17 Apr. 1 40,800 Liabilities Accounts Payable Accounts Payable Notes Payable (short-term) Accounts Payable Accounts Payable Deferred Revenue Inventories Cash Cash Inventories Cash Cash Cash Accounts Receivable Deferred Revenue 14,500 (14,500) 40,800 18,500 (18,500) 6,300 June 3 July 5 July 31 Dec. 20 18,500 (18,500) 6,300 110 (6,300) Dec. 31 Dec. 31 Dec. 31 Rent Expense Salaries and Wages Payable Interest Payable Rent Revenue 110 (6,300) (4,131) (5,250) Required 1 Required 2 >

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