Priceline.com cer 2 Homework Assignment 0 Suved Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long- term) Retained Earnings Supplies $ 82,000 610,000 101,000 280,000 170,000 499,000 4,000 1,021,000 7,000 During the month of July, the company had the following activities: a. Issued 4,000 shares of common stock for $400,000 cash. b. Borrowed $115,000 cash from a local bank, payable in four years. c Bought a building for $188,000; paid $77,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $101.000. e. Purchased supplies for $101,000 on account. 5. Prepare a classified balance sheet at July 31. S Chapter 4 Homework Assignment A Sad Help Save At December 31, the unadjusted trial balance of H&R Tacks reports Prepaid Insurance of $4,800 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Required: 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance E Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting journal entry on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet search TI a e Priceline.com cer 2 Homework Assignment 0 Suved Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long- term) Retained Earnings Supplies $ 82,000 610,000 101,000 280,000 170,000 499,000 4,000 1,021,000 7,000 During the month of July, the company had the following activities: a. Issued 4,000 shares of common stock for $400,000 cash. b. Borrowed $115,000 cash from a local bank, payable in four years. c Bought a building for $188,000; paid $77,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $101.000. e. Purchased supplies for $101,000 on account. 5. Prepare a classified balance sheet at July 31. S Chapter 4 Homework Assignment A Sad Help Save At December 31, the unadjusted trial balance of H&R Tacks reports Prepaid Insurance of $4,800 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Required: 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance E Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting journal entry on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet search TI a e
