Please help me fill out this Horizontal Balance sheet!!
Year 1 Transaction List: 1. Acquired $550,000 by signing a note payable with a local bank on Jan 1. 2. Sold 25,000 shares of $22 par value Common Stock for $1,500,000 3. Purchased Equipment for $300,000 cash 4. Purchased 25,000 Units of Inventory on Account at $1.15 per unit 5. Sold 15,000 units at $3.50 on Account 6. Collected $70,000 of accounts receivable 7. Paid $17.250 of Accounts Payable 8. Purchased 170,000 Units of Inventory on Account at $1.50 per unit 9. Sold 175,000 units at $3.50 on Account 10. Collected $472,500 of accounts receivable 11. Paid $118,600 of Accounts Payable 12. Purchased 275,000 Units of Inventory on Account at $1.35 per unit 13. Sold 200,000 units at $3.50 on Account 14. Collected $735,000 of accounts receivable 15. Paid $294,150 of Accounts Payable 16. Purchased 300,000 Units of Inventory on Account at $1.15 per unit 17. Record Sales & Marketing Expenses of $30,000 (paid in cash) 18. Record Operating Expenses of $75,708 (paid in cash) 19. Record Wage Expenses of $40,000 (paid in cash) 20. Record Product Line Research & Development Expenses of $150,000 (paid in cash) 21. Record Advertising Expenses of $87,500 (paid in cash) 22. Made the yearly required payment on the note payable. The note carries a 7% interest rate and requires payments of $50,000 plus interest each December 31. 23. Record Year 1 Depreciation on Equipment with Salvage Value of $38,000 and useful life of 7 Years (straight-line depreciation) 24. Declared a $10,000 cash dividend for stockholders 25. Paid a $10,000 cash dividend for stockholders Events Balance Acct Bec Inventary Basement Land Budima Accum Depe Acci Payable D Payable Noins Payable Wagos Payable common stock Robredomines ACCATs for Retained Eom 1 Acoured $550.000 by storie a note payable with a local bank 2 Sold 25.000 shares of 522 Common Stock for $1.500.000 3. Purchased Equipment 4. Purchased Inventory on Account - 25.000 units at $1.15 per un So. Sold 15.000 units at $3.50 on Account Sb. COGS for Scies on Account 6. Colect $70.000 on Account 7. Pod $1770 of Accounts Payable 8. Purchased Inventory on Account 170.000 units at $150 perunt 90. Sold 175.000 units of $3.50 on Account 9. COGS torson Account 10. Colect3472.500 on Account 11. Pald $118.600 of Accounts Payable 12. Purchased Inventory an Account 275.000 Units at $1.35 per unit 130. Sed 200.000 unts of 3.50 on Account 138. COGS for Scies on Account 14. Colect3735.000 ARRI 15. Pod $222150 ARRounts Payable 16. Purchased Inventory on Account 300.000 units of $1.15 per unit 17. Record Soles & Morce ting perses of $30.000 10. Record Operating Expenses of 575.703 19. Record Wage Expenses of $40,000 20. Record Product the Research & Development Expenses of $150.000 21. Record Advertsing Eperces of $97.500 22. Mode the yearly required payment on the note payable. The note comes a 7% interest rate and secure payments of 350.000 plus interesteach December 3 23. Record Y 1 Depreciation on Equipment with Savage Value of $30.000 & useful of 7 24. Decloredo 10.000 coth and stockholders 25. Pod a $10.000 cash vidend for stockholders Bolonce otando TO
