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pic 2 and 3 are the same questions 19:35 Problem 1-3: The Smokey Corporation Below, a list of balances for the Smokey Corporation on December
pic 2 and 3 are the same questions
19:35 Problem 1-3: The Smokey Corporation Below, a list of balances for the Smokey Corporation on December 31, 2021: ? 9000 4000 2 Accounts Payable Accounts Receivable Buildings Cash Equipment Fixtures Inventory Land Loan Receivable Note Payable Paid in Capita 5000 700 840 39020 Total Assets 41300 Required Calculate the amounts for the missing items and prepare a Balance Sheet as of December 31, 2021 Upon completion, enter the following summan data here Accounts Payable submit $ mber 1, 2009. 2500 3000 300 Assets Cash Accounts Receivable Inventory Loan Receivable Equipment Fixtures Buildings Land 100 5000 800 700 Total Assets 12490 480 Liabilities and Owners Equity Accounts Payable Note Payable Paid in Capital Total Liabilities & OE 120 11890 12490 The following events occurred during the month of December 1. December 2, the owners invested additional cash of 2500 in the enterprise. 2. December 2, acquired inventory for 3000 on open account 3. December 3. additional fixtures were purchased for 300 cash. 4. December 3. inventory in the amount of 100 was returned to a supplier. The company had not paid for the goods 5. December 4. acquired equipment at a cost of 5000 in exchange for a note payable. 6. December 5. a building in the amount of 90 was sold for cash it cost 90 last month. 7 December 5, the company received 800 from customers that owed money for goods and services Accounts Receivable), 8. December 6, the company lent 700 to the Helix Corporation 9. December 7 a new secretary was hired at a salary of 480. He will commence work next month 10. December 12 the company paid 120 to reduce accounts payable The following events occurred during the month of December W 1. December 2, the owners invested additional cash of 2500 in the enterprise. 2. December 2, acquired inventory for 3000 on open account. 3. December 3, additional fixtures were purchased for 300 cash. 4. December 3, inventory in the amount of 100 was returned to a supplier. The company had not paid for the goods. 5. December 4, acquired equipment at a cost of 5000 in exchange for a note payable. 6. December 5, a building in the amount of 90 was sold for cash. It cost 90 last month. 7. December 5, the company received 800 from customers that owed money for goods and services (Accounts Receivable). 8. December 6, the company lent 700 to the Helix Corporation. 9. December 7, a new secretary was hired at a salary of 480. He will commence work next month. 10. December 12, the company paid 120 to reduce accounts payable. Required: Using the following table, record the impact of each of these events on the assets, liabilities and owners equity of Savili Assuming that no other events occurred, prepare a Balance Sheet as of December 31, 2021 Event Accounts Cash Receivable Loan Inventory Receivable Note Paid in Accounts Equipment Fixtures Buildings Land Payable 5000 700 480 Begin Payable 120 Capital 11890 2 2 8Step by Step Solution
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