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PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5]
PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] (General Ledger) Trisha Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Trisha Allen's June 30, 2019, trial balance. (The amounts shown represent millions of dollars) Accounts Payable Accounts Receivable Cash Common Stock Equipment Inventory Notes Payable (long-term) Notes Payable (short-tem) Prepaid Rent Retained Earnings Salaries and Mages Payable Software Required: $128 29 138 1741 230 1 385 70 Assume that the following events occurred in the following quarter a Paid $30 cash for additional inventory b. Issued additional shares of common stock for $10 in cash, c Purchased equipment for $200, paid $95 in cash and signed a note to pay the remaining $105 in two years. d. Signed a short-term note to borrow $14 cash. a. Paid $30 cash for additional inventory. b. Issued additional shares of common stock for $10 in cash. c. Purchased equipment for $200; paid $95 in cash and signed a note to pay the remaining $105 in two years. d. Signed a short-term note to borrow $14 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $36. Requirement General Journal General Ledger Trial Balance Balance Sheet Current Ratio Prepare a classified balance sheet at September 30, 2019. Use the dropdowns to select the accounts properly included on the balance sheet. TRISHA ALLEN INTERIORS. INCORPORATED Balance Sheet At September 10,2019 S 0 0 0 0 0 Graded Homework i $ 0 0 0 0 0 0 0 0 $ 0 0 0 0 Saved
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