Required Information: Exercise 7-11 (Algo) Unearned revenues-customer deposits LO 3 The following information applies to the questions displayed below] NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a deposit of $75 per keg, deposits are recorded in the Keg Deposits account. Exercise 7-11 (Algo) Part b - Horizontal model b-1. Use the horizontal model to show the effect of giving a keg deposit refund to a customer for one keg. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets Balance Sheet Liabilities Mockholders Equity Heinme Income Matement Revenues Expenses Required Information Exercise 7-11 (Algo) Unearned revenues-customer deposits LO 3 [The following information applies to the questions displayed below] NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a deposit of $75 per keg: deposits are recorded in the Keg Deposits account Exercise 7-11 (Algo) Part b - Journal entry b-2. Record the journal entry to show the effect of giving a keg deposit refund to a customer for one keg (if no entry is required for e transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the refund of keg deposits. Sete er dts before credes General Journal Debil Credit Required Information Exercise 7-11 (Algo) Unearned revenues-customer deposits LO 3 The following information applies to the questions displayed below) NightWoundsTime Brewing Co. distributes its products in an aluminum keg Customers are charged a deposit of $75 per keg: deposits are recorded in the Keg Deposits account Exercise 7-11 (Algo) Part c-Horizontal model 1. A keg use analyst who works for NightWoundsTime estimates that 280 kegs for which deposits were received during the year will never be returned What accounting, if any, would be appropriate for the deposits associated with these kegs? indicate the financial statement effect. (Enter decreases with a minus sign to Indicate a negative financial statement effect. Asses Balance Sheet Skov Equity Home Reyes Required Information: Exercise 7-11 (Algo) Unearned revenues-customer deposits LO 3 [The following information applies to the questions displayed below] NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a deposit of $75 per keg, deposits are recorded in the Keg Deposits account. Exercise 7-11 (Algo) Part c-Journal entry c-2. A keg use analyst who works for NightWoundsTime estimates that 280 kegs for which deposits were received during the year will never be returned. Record the accounting that would be appropriate for the deposits associated with these kegs? (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 < Record the elimination of the liability for unreturned kegs. Not Enter debts before credits Event 1 General Journal Debil Credit Required Information Exercise 7-11 (Algo) Uneamed revenues-customer deposits LO 3 [The following information applies to the questions displayed below) NightWoundsTime Brewing Co. distributes its products in an aluminum keg Customers are charged a deposit of $75 per keg deposits are recorded in the Keg Deposits account Exercise 7-11 (Algo) Part d - Horizontal model d. Use the horizontal model, demonstrate accounting that would be appropriate for the cost of the kegs that are purchased and used by NightWoundsTime Brewing Company, Including how to account for unreturned kegs? Indicate the financial statement effect. (Enter decreases with a minus sign to Indicate a negative financial statement effect.) Balance Speel Assots Stockholders' Equity Het Hoome Jocume Statumend Expenses