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Please record the adjustments in the first two preformatted worksheets to the appropriate columns. A look at the Statement of Operations shows that Tesla has

Please record the adjustments in the first two preformatted worksheets to the appropriate columns.

  1. A look at the Statement of Operations shows that Tesla has several revenue streams, the largest being automotive sales. Automotive sales has its cost of sales counterpart below Cost of revenues and Automotive leasing also has a cost of sales counterpart several lines down. Please record additional Automotive sales of $2,000 with the cost of revenue being $1,200 and additional Automotive leasing of $130 with the cost of revenue being $55. These were cash revenues. On the balance sheet reduce inventories for both cost of revenue.
  2. Incurred additional Selling, general and administrative expenses, on account, $158.
  3. Had additional Services and other revenues of $800. Customers signed 3-month, 8% notes receivable. Record the notes receivable in MyPower customer notes receivable.
  4. Three months later, received payment plus interest on the notes receivable in c above.
  5. An analysis of accounts receivable results in an estimate that 9% of accounts receivable will not be collected. Please record the adjustment.
  6. Purchased $1,100 of Property, plant, and equipment, paying $200 cash and signing a long-term note payable for the balance.
  7. Recoded depreciation on Property, plant and equipment, of $980.
  8. Additional income taxes of $46 were incurred, and will be paid later, record a liability and the additional income taxes. Use Provision for income takes on the Statement of Operations.

Please input these journal entries into the Statement of Income, Statement of Retained Earnings, and the Balance Sheet attached are the preformatted worksheets. image text in transcribedimage text in transcribed

a b U d ID f : CE h Updated 19,952 869 20,821 1,531 2,226 24,578 Tesla, Inc Statement of Operations Year ended December 31, 2019 In Smillions Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other Total cost of revenues Gross profit Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Loss from operations Interest income Interest expense Other income (expense), net Loss before income taxes Provision for income taxes Net loss Net income (loss) attributable to noncontrolling interests Net loss attribtable to common stockholders 15,939 459 16,398 1,341 2,770 20,509 4,069 1,343 2,646 149 4,138 (69) 44 (685) 45 (665) 110 (775) 87 (862) Tesla, Inc. Statement of Accumulated Deficit Year ended December 31, 2019 Balance, December 31, 2018 Adjustments from prior peroids from adopting ASC 842 Net loss Balance, December 31, 2019 -775 643 a b c d e f h Updated 6,268 246 1,324 3,552 713 12,103 2,447 6,138 10,396 1,218 339 198 393 269 808 34,309 In Smillions Assets Current assets Cash and cash equivalents Restricted cash Accounts receivable, net Inventory Prepaid expenses and other current assets Total current assets Operating lease vehicles, net Solar energy systems, net Property, plant and equipment, net Operating lease right-of-use assets Intangible assets, net Goodwill MyPower customer notes receivable Restriced casn, net of current portion Other assets Total assets Liabilities Current liabiliteis Accounts payable Accured liabilites and other Deferred revenue Resales value guarantees Customer deposits Current portion of debt and fincnace leases Total current liabilities Debt and fincance leases, net of current portion Deferred revenue, net of current portion Resale value guarantees, net of current portion Other long term liabilities Total Liabilities Commitments and contingencies (Note 16) Redeemable noncontorlling interest in subsidiaries Equity Stockholders' equity Preferred stock Common stock Additional paid-in-capital Accumulated other comprehnsive loss Accumulated deficit Total stockholders' equity Noncontorlling interest in subsidiaries Total liabilities and equity 3,771 2,905 1,163 317 726 1,785 10,667 11,634 1,207 36 2,655 26,199 643 12,737 (36) (6,083) 6,618 849 34,309

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