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Ramos Allen interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Ramos
Ramos Allen interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Ramos Allen's June 30, 2019, trial baiance. (The amounts shown represent millions of dollars.) Required: Assume that the following events occurred in the following quorter. a. Peid $35 cash for additional inventory. b. Issued additional shares of common stock for $15 in cash. c. Purchased equipment for $210; paid $100 in cash and signed a note to pay the remaining $110 in two years. d. Signed a short term note to borrow $15 cash. e. Conducted negotiations to purchase a sifwmill, which is expected to cost $38. Prepare the journal entries to rocord the transactions (a) through (e), \& If no entry is requlred for a transactionvevent, select "No Joumal Entry Required" in the first account field. Enter your answers in millions ( 1.e,10,000,000 should be entered as 10).) Journal entry worksheet 345 Paid $35 cash for additional inventory. Record the tranisaction. Note: Enter debits Defore credits. Journal entry worksheet Issued additional shares of common stock for $15 in cash. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Purchased equipment for $210; paid $100 in cash and signed a note to pay the remaining $110 in two years. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Signed a short-term note to borrow $15 cash. Record the transaction. Note: Enter debits before credits. Conducted negotiations to purchase a sawmill, which is expected to cost $38. Record the transaction. Note: Enter debits before credits. Prepare a classified balance sheet at September 30,2019 . Use the dropdowns to select the accounts properly included on the balance sheet. Caiculate the Current Ratio and anaivze the impact of the current ratio
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