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pleae do this quastion! Here the format that you should to use First Pic is the Quastion and the second Pic is the example format

pleae do this quastion! image text in transcribed
Here the format that you should to use
image text in transcribed
First Pic is the Quastion and the second Pic is the example format to use.
OBJECTIVES 3, 4 1-39 Analysis of Transactions Walgreen Company is a well-known drugstore chain. A condensed balance sheet for August 31, 2011, follows ($ in millions): Assets Cash Inventories Property and other assets Total $ 1,556 8,044 17,854 $27,454 Liabilities and Stockholders' Equity Accounts payable $ 4,810 Other liabilities 7,797 Stockholders' equity 14,847 Total $27.454 Use a format similar to Exhibit 1-2 (p. 12) to analyze the following transactions for the first two days of September (5 amounts are in millions). Then prepare a balance sheet as of September 2. 1. Issued 1,000,000 shares of common stock to employees for cash, $30 2. Issued 1,500,000 shares of common stock for the acquisition of $42 of special equipment from a supplier 3. Borrowed cash, signing a note payable for $13 4. Purchased equipment for cash, $18 5. Purchased inventories on account, $89 6. Disbursed cash on account (to reduce the accounts payable), $35 7. Sold for $2 cash some display equipment at original cost of $2 Liabilities + Owner's Equity Note Accounts Lopez, Payable + Payable + Capital +400,000 = +100,000 EXHIBIT 1-2 Biwheels Company Analysis of Transactions for January 2 to January 12, 20X2 Description of Transactions Assets Merchandise Store Cash + Inventory + Equipment (1) Initial investment +400,000 (2) Loan from bank +100,000 (3) Acquire store equipment for cash -15,000 +15,000 (4) Acquire inventory for cash -120,000 +120,000 (5) Acquire inventory on credit +10,000 (6) Acquire inventory for cash plus credit -10,000 +30,000 (7) Sale of equipment +1,000 -1,000 (8) Return of inventory acquired on January 6 -800 (9) Payment to creditor -4,000 Balance, January 12, 20X2 352,000+ 159,200 + 14,000 = +10,000 +20,000 -800 4,000 25,200+ = 100,000 + 400.000 525,200 525,200

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