please help im so confused
A B During the first month of operations, the following transactions were completed by ABC Corporation: Dec 1 Issued 25,000 shares of $1 par common stock for cash of $20 per share. ABC Company pays cash for Land and a building to be used in operations. The land Dec 3 cost $50,000 and the building cost $150,000. Dec 4 Purchased $10,000 of store fixtures on account. 11 12 Purchased merchandise inventory from XYZ Company for $125,000, terms n/eom, FOB destination. ABC sold $50,000 of merchandise on account, 2/10,n/30,FOB shipping point. The 13 Dec 6 cost of merchandise sold was $20,000. Purchased merchandise inventory from QRS Company for $100,000, terms n/30, 17 Dec 10 FOB destination. 18 19 Dec 11 Purchased 500 shares of treasury stock for $15 per share. 20 21 Dec 12 ABC's Board of Directors declared a $30,000 cash dividend. 23 Dec 13 Paid $300 for utilities. 24 25 Dec 15 Paid cash dividends to common shareholders. 28 Directions Chart of Accounts Journal-December Unadjusted Trial Balance Adjusted Trial Balance Ready Accessiblity: Good to go ABC sold $75,000 of merchandise on account, 2/10,n/30, FOB shipping point. The Dec 23 cost of merchandise sold was $35,000. Dec 24 Sold 300 shares of treasury stock for $20 per share. Dec 31 Paid balance owed to XYZ Company for purchases on Dec 5. At the end of December, the following adjustment data were assembled. After a physical count of inventory, it was determined that $169,500 of inventory exists 37 38 at December 31. b Based on an analysis of AVR, ABC Company anticipates 3% of AVR to be uncollectible. Buildings are depreciated using the straight line method with no salvage value for 30 years. Round to the nearest dollar. Store Fixtures are depreciated using the straight-line method with no salvage value for 5 years. Round to the nearest dollar. Directions: Journalize the routine transactions above on the Journal-December tab. Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). Ilea the dilietad Trial Ralanre nrmvided th nranara financial etatmente for RC Directions Chart of Accounts Journal-December Unadjusted Trial Balance Adjusted Trial 43d for 5 years. Round to the near using the straight-line method with no salvage value 44 d. for 5 years. Round to the nearest dollar. Directions: Journalize the routine transactions above on the Journal-December tab. Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). Use the Adjusted Trial Balance provided to prepare financial statments for ABC Corporation. You are only responsible for preparing the Income Statement, Statement of Retained Earnings, and classified Balance Sheet. These should be 513 completed on the Financial Statements tab. 52 You should complete your final project in this Excel workbook using the following tabs: JournalDecember and Financial Statements. You may use another spreadsheet program as long as 53 Excel can open the file. ABC Corporation is a retail company that begins operations on December 1,20xx, which is incorporated in the state of NC. The ABC Corporation is authorized to issue 100.000 shares nf $1 nar GENERAL JOURNAL Financial Statements A B During the first month of operations, the following transactions were completed by ABC Corporation: Dec 1 Issued 25,000 shares of $1 par common stock for cash of $20 per share. ABC Company pays cash for Land and a building to be used in operations. The land Dec 3 cost $50,000 and the building cost $150,000. Dec 4 Purchased $10,000 of store fixtures on account. 11 12 Purchased merchandise inventory from XYZ Company for $125,000, terms n/eom, FOB destination. ABC sold $50,000 of merchandise on account, 2/10,n/30,FOB shipping point. The 13 Dec 6 cost of merchandise sold was $20,000. Purchased merchandise inventory from QRS Company for $100,000, terms n/30, 17 Dec 10 FOB destination. 18 19 Dec 11 Purchased 500 shares of treasury stock for $15 per share. 20 21 Dec 12 ABC's Board of Directors declared a $30,000 cash dividend. 23 Dec 13 Paid $300 for utilities. 24 25 Dec 15 Paid cash dividends to common shareholders. 28 Directions Chart of Accounts Journal-December Unadjusted Trial Balance Adjusted Trial Balance Ready Accessiblity: Good to go ABC sold $75,000 of merchandise on account, 2/10,n/30, FOB shipping point. The Dec 23 cost of merchandise sold was $35,000. Dec 24 Sold 300 shares of treasury stock for $20 per share. Dec 31 Paid balance owed to XYZ Company for purchases on Dec 5. At the end of December, the following adjustment data were assembled. After a physical count of inventory, it was determined that $169,500 of inventory exists 37 38 at December 31. b Based on an analysis of AVR, ABC Company anticipates 3% of AVR to be uncollectible. Buildings are depreciated using the straight line method with no salvage value for 30 years. Round to the nearest dollar. Store Fixtures are depreciated using the straight-line method with no salvage value for 5 years. Round to the nearest dollar. Directions: Journalize the routine transactions above on the Journal-December tab. Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). Ilea the dilietad Trial Ralanre nrmvided th nranara financial etatmente for RC Directions Chart of Accounts Journal-December Unadjusted Trial Balance Adjusted Trial 43d for 5 years. Round to the near using the straight-line method with no salvage value 44 d. for 5 years. Round to the nearest dollar. Directions: Journalize the routine transactions above on the Journal-December tab. Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). Use the Adjusted Trial Balance provided to prepare financial statments for ABC Corporation. You are only responsible for preparing the Income Statement, Statement of Retained Earnings, and classified Balance Sheet. These should be 513 completed on the Financial Statements tab. 52 You should complete your final project in this Excel workbook using the following tabs: JournalDecember and Financial Statements. You may use another spreadsheet program as long as 53 Excel can open the file. ABC Corporation is a retail company that begins operations on December 1,20xx, which is incorporated in the state of NC. The ABC Corporation is authorized to issue 100.000 shares nf $1 nar GENERAL JOURNAL Financial Statements
