Required A Record the above transaction in Journal Entries B Record the above transaction in T Accounts C Prepare a Trial Balance for Virus Pharma Company D Prepare the Income Statement, Statement of Retained Earnings, and Balance Sheet II Financial Statements Preparation (70 points) Virus Pharma Company had the following transactions 1 Issued capital stock for $825,000 2 Purchased of inventory for $52,000 paying $25,000 and signing a note for the difference 3 Paid $3,000 for utilities 4 Sold inventory costing $3,500 for a total sales price of $15,000 5 Performed a service receiving $4,500 and $2,500 to be collected 6 Purchased a new Cleaning Machine for $555 on account Chart of Accounts for Virus Pharma Company Assets Cash Accounts Receivable Inventory Equipment Land Liabilities Accounts Payable Note Payable Owners' Equity Capital Stock Dividends Revenues Sales Revenue Service Revenue Expenses Cost of Goods Sold Wages Expense Utilities Expense Rent Expense

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Required  A  Record the above transaction in Journal Entries  B  Record the above transaction in T   Accounts  C  Prepare a Trial Balance for Virus Pharma Company  D  Prepare the Income Statement, Statement of Retained Earnings, and Balance Sheet  II  Financial Statements Preparation (70 points) Virus Pharma Company had the following transactions  1  Issued capital stock for $825,000  2  Purchased of inventory for $52,000 paying $25,000 and signing a note for the difference  3  Paid $3,000 for utilities  4  Sold inventory costing $3,500 for a total sales price of $15,000  5  Performed a service receiving $4,500 and $2,500 to be collected  6  Purchased a new Cleaning Machine for $555 on account  Chart of Accounts for Virus Pharma Company Assets Cash Accounts Receivable Inventory Equipment Land Liabilities  Accounts Payable Note Payable Owners' Equity  Capital Stock Dividends Revenues  Sales Revenue Service Revenue Expenses Cost of Goods Sold Wages Expense Utilities Expense Rent Expense

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Required: A. Record the above transaction in Journal Entries. B. Record the above transaction in T - Accounts. C. Prepare a Trial Balance for Virus

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