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PLEASE USE THE FOLLOWING ACCOUNT BALANCE : January 15 Issued 5,000 shares of $1 par common stock for $50,000 cash. January 31 Collected $3,000 from

PLEASE USE THE FOLLOWING ACCOUNT BALANCE :

January 15 Issued 5,000 shares of $1 par common stock for $50,000 cash.
January 31 Collected $3,000 from customers on account.
February 15 Reacquired 3,000 shares of $1 par common stock into treasury for $33,000 cash.
March 15 Reissued 2,000 shares of treasury stock for $24,000 cash.
August 15 Reissued 600 shares of treasury stock for $4,600 cash.
September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock.
October 1 Issued 100, 10-year, $1,000 bonds, at a quoted bond price of 101.
October 3 Wrote off a $1,500 balance due from a customer who went bankrupt.
December 29 Recorded $230,000 of service revenue, all of which was collected in cash.
December 30 Paid $200,000 cash for this years wages through December 31. Ignore payroll taxes and payroll deductions.
December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income

using these terms !!!!!

CHART OF ACCOUNTS
Equinox Products Inc.
General Ledger
ASSETS
110 Cash
121 Accounts Receivable
122 Allowance for Doubtful Accounts
131 Merchandise Inventory
132 Interest Receivable
133 Prepaid Expenses
141 Available-for-Sale Investments-Solstice Corp. Bonds
142 Investment in Pinkberry Co. Stock
143 Investments-Dream Inc. Bonds
144 Valuation Allowance for Available-for-Sale Investments
181 Store Buildings and Equipment
182 Accumulated Depreciation-Store Buildings and Equipment
183 Office Buildings and Equipment
184 Accumulated Depreciation-Office Buildings and Equipment
191 Goodwill
LIABILITIES
211 Accounts Payable
221 Income Tax Payable
225 Cash Dividends Payable
251 Bonds Payable
252 Discount on Bonds Payable
253 Premium on Bonds Payable
EQUITY
311 Preferred Stock
312 Paid-in Capital in Excess of Par-Preferred Stock
321 Common Stock
322 Paid-in Capital in Excess of Par-Common Stock
331 Retained Earnings
341 Cash Dividends
351 Treasury Stock
352 Paid-in Capital from Sale of Treasury Stock
361 Unrealized Gain on Available-for-Sale Investments
362 Unrealized Loss on Available-for-Sale Investments
REVENUE
410 Sales
611 Dividend Revenue
621 Interest Revenue
631 Income of Pinkberry Co. investment
641 Gain on Sale of Investment
EXPENSES
511 Cost of Merchandise Sold
512 Bad Debt Expense
520 Sales Salaries Expense
521 Sales Commissions
522 Office Salaries Expense
531 Advertising Expense
532 Delivery Expense
537 Store Supplies Expense
538 Office Supplies Expense
539 Office Rent Expense
541 Income Tax Expense
551 Depreciation Expense-Store Buildings and Equipment
552 Depreciation Expense-Office Buildings and Equipment
591 Miscellaneous Selling Expense
592 Miscellaneous Administrative Expense
710 Interest Expense
731 Loss on Sale of Investment

to fill in the following balance sheet :

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