Rogers Company completed the following transactions during 2014 The annual accounting period ends December 31, 2014 Jan 8 Purchased merchandise for resale on account at an invoice cost of $14,860 assume a periodic inventory system 17 Paid January 8 invoice Apr 1 Borrowed $35,000 from National Bank for general use executed a 12 month, 8 percent interest bearing note payable June 3 Purchased merchandise for resale on account at an invoice cost of $17,420 July 5 Paid June 3 invoice Aug 1 Rented a small office in a building owned by the company and collected six months rent in advance amounting to $6,000 (Record the collection in a way that will not require an adjusting entry at year end ) Dec 20 Received a $100 deposit from a customer as a guarantee to return a large trailer borrowed for 30 days Determined wages of $9,500 earned but not yet paid on December 31 (disregard payroll taxes) Required 1 Prepare journal entries for each of these transactions (If no entry is required for a transaction event, select No journal entry required in the first account field Do not round your intermediate calculations ) Purchased merchandise for resale on account at an invoice cost of $14,860 assume a periodic inventory system Purchased merchandise for resale on account at an invoice cost of $14,860 assume a periodic inventory system Paid January 8 invoice Borrowed $35,000 from National Bank for general use executed a 12 month, 8 percent interest bearing note payable Purchased merchandise for resale on account at an invoice cost of $17,420 Paid June 3 invoice Rented a small office in a building owned by the company and collected six months rent in advance amounting to $6,000 (Record the collection in a way that will not require an adjusting entry at year end ) Received a $100 deposit from a customer as a guarantee to return a large trailer borrowed for 30 days Purchased merchandise for resale on account at an invoice cost of $14,860 assume a periodic inventory system Paid January 8 invoice Borrowed $35,000 from National Bank for general use executed a 12 month, 8 percent interest bearing note payable Purchased merchandise for resale on account at an invoice cost of $17,420 Paid June 3 invoice Rented a small office in a building owned by the company and collected six months rent in advance amounting to $6,000 (Record the collection in a way that will not require an adjusting entry at year end ) Received a $100 deposit from a customer as a guarantee to return a large trailer borrowed for 30 days Determined wages of $9,500 earned but not yet paid on December 31 (disregard payroll taxes) 2 Prepare the adjusting entry required on December 31, 2014 (If no entry is required for a transaction event, select No journal entry required in the first account field Do not round your intermediate calculations ) Record the adjusting entry required on December 31 3 Show how all of the liabilities arising from these transactions are reported on the balance sheet at December 31, 2014 (Do not round your intermediate calculations ) 4 For each transaction, state whether cash flow from operating activities is increased or decreased (Select NE if there is no effect )

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Rogers Company completed the following transactions during 2014. The annual accounting period ends December 31, 2014. Jan. 8 Purchased merchandise for resale on account at

Rogers Company completed the following transactions during 2014. The annual accounting period ends December 31, 2014.

Jan.

Purchased merchandise for resale on account at an invoice cost of $14,860; assume a periodic inventory system.

Paid January 8 invoice.

Apr.

Borrowed $35,000 from National Bank for general use; executed a 12-month, 8 percent interest-bearing note payable.

June

Purchased merchandise for resale on account at an invoice cost of $17,420.

July

Paid June 3 invoice.

Aug.

Rented a small office in a building owned by the company and collected six months rent in advance amounting to $6,000. (Record the collection in a way that will not require an adjusting entry at year-end.)

Dec.

Received a $100 deposit from a customer as a guarantee to return a large trailer borrowed for 30 days.

Determined wages of $9,500 earned but not yet paid on December 31 (disregard payroll taxes).

Required:

Prepare journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.)

Purchased merchandise for resale on account at an invoice cost of $14,860; assume a periodic inventory system.

Paid January 8 invoice

Borrowed $35,000 from National Bank for general use; executed a 12-month, 8 percent interest-bearing note payable.

Purchased merchandise for resale on account at an invoice cost of $17,420.

Paid June 3 invoice.

Received a $100 deposit from a customer as a guarantee to return a large trailer borrowed for 30 days.

Purchased merchandise for resale on account at an invoice cost of $14,860; assume a periodic inventory system.

Paid January 8 invoice.

Borrowed $35,000 from National Bank for general use; executed a 12-month, 8 percent interest-bearing note payable.

Purchased merchandise for resale on account at an invoice cost of $17,420.

Paid June 3 invoice.

Received a $100 deposit from a customer as a guarantee to return a large trailer borrowed for 30 days.

Determined wages of $9,500 earned but not yet paid on December 31 (disregard payroll taxes).

Prepare the adjusting entry required on December 31, 2014. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.)

Record the adjusting entry required on December 31.

Show how all of the liabilities arising from these transactions are reported on the balance sheet at December 31, 2014. (Do not round your intermediate calculations.)