Required information [The following information applies to the questions displayed below.] Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: $ 24,000 Accounts payable Cash $23,000 3,700 7,300 44,000 11,000 Investments (short-term) 3,100 Accrued liabilities payable 4,700 28,000 Notes payable (current) Notes payable (noncurrent) Common stock Additional paid-in capital Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles 1,200 48,000 109,000 Retained earnings 99,000 34,500 4,500 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $9,000 cash. b. Lent $5,300 to a supplier who signed a two-year note. c. Purchased equipment that cost $25,000; paid $5,800 cash and signed a one-year note for the balance. d. Hired a new president at the end of the year. The contract was for $77,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. e. Issued an additional 1,900 shares of $0.50 par value common stock for $16,000 cash. f. Borrowed $13,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $2,600 cash. h. Built an addition to the factory for $24,000; paid $7,200 in cash and signed a three-year note for the balance. i. Returned defective equipment to the manufacturer, receiving a cash refund of $1,300. 8 Answer is not complete. Investments (short-term) Cash Beg. Bal. Beg. Bal. 3,100 24,000 (e) (f) (i) (a) (b) (c) (a) 16,000 9,000 9,000 13,000 5,300 5,800 1,300 12,100 (g) End. Bal. 2,600 7,200 (h) 24,400 End. Bal. Accounts Receivable Inventory 4,700 Beg. Bal. 28,000 Beg. Bal. 4,700 28,000 End. Bal. End. Bal. Notes Receivable (long-term) Equipment Beg. Bal. 1,200 Beg. Bal. 48,000 19,200 X (b) (c) (i) 5,300 1,300 (c) 5,800 6,500 71,700 End. Bal. End. Bal. Factory Building Intangibles Beg. Bal. 109,000 Beg. Bal. 4,500 (g) (h) 16,800 2,600 (h) 7,200 133,000 7,100 End. Bal. End. Bal. Accounts Payable Accrued Liabilities Payable Beg. Bal. Beg. Bal. 23,000 3,700 3,700 End. Bal. 23,000 End. Bal. Notes payable (current) Notes payable (noncurrent) Beg. Bal. Beg. Bal. 7,300 44,000 |(h) (c) 19,200 16,800 (f) 13,000 End. Bal. 39,500 End. Bal. 60,800 Additional Paid-in Capital Common Stock Beg. Bal. 11,000 Beg. Bal. 99,000 (e) (e) 950 15,050 11,950 114,050 End. Bal. End. Bal