P$2-3($Algo$)$ Recording Transactions in T$-$Accounts, Preparing the Balance Sheet from a Trial Balance, Answer is not complete.

Requirement

General

General

Journal

Trial Balance

Balance Sheet

Analysis

Use the drop$-$downs below to select the accounts that should be properly included on the balance sheet.

and Evaluating the Current Ratio LO$2-2,2-4,2-5($GL$)$

Jaguar Plastics Company has been operating for three years. At December $31$ of last year, the accounting records reflected the

following:

During the current year, the company had the following summarized activities:

a$.$ Purchased short$-$term investments for $$8,200$ cash.

b$.$ Lent $$6,300$ to a supplier who signed a two$-$year note.

c$.$ Purchased equipment that cost $$19,000$; paid $$4,500$ cash and signed a one$-$year note for the balance.

d$.$ Hired a new president at the end of the year. The contract was for $$76,000$ per year plus options to purchase company stock at

a set price based on company performance. The new president begins her position on January $1$ of next year.

e$.$ Issued an additional $2,500$ shares of $$0\mathrm{.}50$ par value common stock for $$14,000$ cash.

f$.$ Borrowed $$12,000$ cash from a local bank, payable in three months.

g$.$ Purchased a patent $($an intangible asset$)$ for $$2,500$ cash.

h$.$ Built an addition to the factory for $$30,000$; paid $$7,900$ in cash and signed a three$-$year note for the balance.

i$.$ Returned defective equipment to the manufacturer, receiving a cash refund of $$1,000.$