| Record all required transactions for January 20X2 into T-accounts |
| | Record all required adjusting entries and accruals for January 20X2 into T-accounts |
Balance Sheet Transactions duri Dewey, Cheatum \& Howe Balance Sheet As of December 31, 20X1 \begin{tabular}{|l|r|} \hline & \multicolumn{1}{|c|}{ Total } \\ \cline { 2 - 2 } & \multicolumn{1}{|c|}{} \\ \hline ASSETS & 42,000 \\ \hline Checking Account & 2,300 \\ \hline Savings Account & 875,000 \\ \hline Security Deposit & 1,000 \\ \hline Computer Equipment & 5,000 \\ \hline Internally Developed Software & 30,000 \\ \hline TOTAL ASSETS & 955,300 \\ \hline LIABILITIES AND EQUITY & \\ \hline Liabilities & \\ \hline \multicolumn{1}{|c|}{ Accounts Payable } & 330,000 \\ \hline \multicolumn{1}{|c|}{ Line of Credit } & 227,000 \\ \hline Loan Payable to Shareholder & 73,000 \\ \hline Total Liabilities & 630,000 \\ \hline Equity & \\ \hline Stockholders' Equity & 800,000 \\ \hline Retained Earnings & 474,700 \\ \hline Total Equity & 325,300 \\ \hline TOTAL LIABILITIES AND EQUITY & 955,300 \\ \hline \end{tabular} Dewey, Cheatum \& Howe Transactions For the month ending January 31,202 Date 1/1/20X2 Paid 12 months of rent at $6000 per month to Prime Properties 1/2/20X2 Dewey paid its monthly cell phoes bill in the amount of $1,200 reimbursements totalled $21,000 1/4/20X2 The company invoiced its clients as follows: LV Cotp $75,000; C, Jack Associalex $25,000 and Chantal LL.P $55,000 The company drew down $200,000 its line of eredit in order to meet its monthly obligations Dewey made a donation to the Center Valley Little League in the amount of $1,400 $145,000 from a third company MAT Systems) Dewey pays a monthly retainer for legal services to Promenade Legal Services in the amount of $2,500. The company reimbursed its cemployees $3,800 for travel expenses incurred The company paid its bi-weckly payroll of $90,000 Paid its short-4erm monthly car lease payment of \$1,400 to Mascrati LTD The company did not renew its kase on its sorage unit which ended on 12/31/20X1 and its deposit of $1,000 was relumed The company renewed their annual membernhip is the American testitute of CPAs for $300 bet the bill won't come until Febraary Toe company paid dividends to its only sharcholder in the amosint of $31,500 Dewey announces a $13,000 salary bonas to be split among all employes will be paid in Febraary 202 date of February 15,202 The company took a contisuing educatios class costiag $300 but didn't receive the bill yet Dewey repaid principal on a loan payable to a shareholder in the amount of $12,000 Dewey paid for miscellaneous office supplies purchased on 1/19/2. The invoice is $2,500. The company paid its bi-weckly payroll of $90,000 The company collected cash paynicnts on its accounts receivable in the amount of \$203,000 1/30/202 1/30/202 The company invoiced its clicnts a total of $170,000 1/31/202 Dewey prepared all required adjusting entries 1/31/20X2 Dewey receives $1,000 is office supplies on account from WE DuBois
