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Please help so i cam double check my work before turning in! 1 4/9/2022 Orca Company sold common stock for $100,000 in cash. 2 A/11/2022

Please help so i cam double check my work before turning in!
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1 4/9/2022 Orca Company sold common stock for $100,000 in cash. 2 A/11/2022 Please record the necessary March adjusting entries - Interest for both of the note payables Prepaid Insurance for Narch has been used Prepaid Rent for March has been used Orca Company estimates bad debt as 8% of current AR Orca Company used 1/2 of the remaining supplies - $30,000 of salaries is recorded, but not paid Utilities of 51.900 are paid 3 4/11/2022 Orca Company sold 150 units of inventory on account for $100 per unit -- Recall you are using Firo. Orca Company has 70 units of $50 inventory remaining (from March atha and 500 units of Sos inventory (from March 21st) Orca Company pays an apprater to assess useful life and salvage value for its building and equipment, which are going to begin being depreciated. The following is noted Incurs appraisal expeme" of $500 which is paid in cash and is NOT capitalized The Building with book value of 5495,000 has a salvage value of $45,000 and useful life of 25 years. - The Equipment with book value of $3,000 hans $0 of salvage value and 6 year useful life Record depreciation expense and accumulated depreciation for 2 months for the building February/March) and 3 months for the Equipment on March 4 4/11/2022 ration 4/13/2022 4/19/2022 Orca Company released a new advertising campaign worth $10,000 with its new slogan "Wonderful are the Waves Orca Company said legal and registration costs of $18.000 for trademarking the phrase Orca Company purchased 200 units of wentory for $55 per unit. Orca Company decides to sell its boldine. The purchase trees to take on Orca Company's note owed on the buildine and A/13/2022 . 4/13/2022 Orca Company purchased 200 units of inventory for $55 per unit 7 4/13/2022 Orca Company decides to sell its building. The purchaser agrees to take on Orca Company's note owed on the building and pay an additional $20,000 4/15/2022 Orca Company els 100 units of inventory for $100 per unit on account 4715/2022 A customer pays orca company 515.000 for services to be provided later 10 4/15/2022 A customer recently sued Orca Company, Orca Company hired a law form for $1.000 and the firm told Orca Company thata $10.000 low is probable. Record the contingent liability 11 4/18/2022 Orta Company leaves a new piece of equipment. The payments on the lease are paid annually and are 5500 for 6 years with borrowing rate of 5% and all payments are made at the end of April, starting this year, 12 4/18/2022 Orca Company issues a bond of face value $15.000 Orca Company will pay 4% annual interest on the bond ration 13 4/18/2022 Orca Compary provides services of $40,000 to a customer and is paid in cash Please begin recording the adjusting entries for Orca Company ONLY RECORD THE FOLLOWING ENTRIES BELOW leven more are technically needed Orca Company estimates bad debt as 8% of current AR 14 4/20/2022 Utles of $1 250 are paid - Orca company accrues interest on the note receivable it has recorded Orca Company records the additional depreciation on its Equipment - Orca Company makes a lease payment Orca Company records Income Tax expense and Income Tax payable of 20% of current income before anes 15 4/20/2022 In addition, please record the closing entries. You can record the closing entries as debitscredits to the total values for revenues and expenses instel of individual revenue and expense accounts see the Excel provided Orca Company currently has $175.000 in its common stock. Orca Company completed its common stock contract and 16 4122.2022 established a par value of $1 on its common stock for 10.000 shares outstanding. As such, Orca Company needs to adjust the current equity accounts to remove common stock and record Additional Paid in Capital for the excess over par value 17 472272022 Orca Company repurchases 1.000 stures of its own common stock for $8 per share 10 4022/2022 Orca Company immediately receives an opportunity to resel 500 of those shares at $12 perstureRecord this resale of the tremur stock Tals March 2nd 3/2/2022 Orcas Company sells Sunits ct inventory for $30 per unit on account - cle has terms of 2/10, 1/30. Recall lowentory was purchased for $50 per unit It pays off the Utilities payable accrued on 2/2 3/2/2022 3/2/2022 It pays off the salaries payable accrued on 2/28 1/2/2022 Orca Company per pays its rent for March AND Apeil. $500 each 3/2/2022 Orca Company records an allowance of 5% of current A/R including the transations on March 2nd. (A/R current balance = $32,000) March 4th 3/4/2022 Orca Company collects the receivable et $10.000 from services provided on February 2014. No update is made to the allowance Orca Company receive payment for the inventory sold on 3/2 (54,000). Note this payment comes within 10 days of purchase with 3/4/2022 terms 2/10 net 30 3/4/2022 Orca Company purchases 100 units of inventory at $50 per unit usine cash 3/4/2022 A customer returns 20 units of inventory purchased on 2/26. The Inventory is not detective, 10 Orca Company add it back to its Inventory supply Sales 580 Cash CGS 550 per unit 3/4/2022 Orca Company sells 100 units of inventory at $80 per unit. The customer able to pay for halt now and Orca Company records the remainder due on account with terms 1/10 1/30 3/4/2022 Orca Company is told its customer serviced on 2/25 has gone imolvent. This requires Orca Company to record a write-off for the accounts receivable from the customer ($12.000) 3/4/2022 Orca Company is paid $11.000 of the Accounts Receivable for the molvent customer from 2/25 Orca Company must recorda recovery related to this 511.000 March 21.23rd 1/21/2022 Orca Company purchased 500 units of inventory from its supplier, on account. The supplier offered Orca Company a price of $65 per unit. Orca Company adopted the FIFO Method of Inventory 3/21/2022 Orca Comparw. negotiated a Promissory Note with the customer for the accounts receivable for purchased inventory on 3/4 154.000 balance. The note hus terms of interest owed in 6 months Orca Company told 100 units of inventory on account. Due to recent demand. Orca Company raised its price to $100 per unit for the 3/23/2022 Inventory. TO cost according to the FIFO method 170 units remaining In Inventory priced at $50 before 500 unit of inventory purchased 50 price the inventory sold 550 per unit costx 100 units sold - $5.000

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