Rooney Manufacturing Company experienced the following accounting events during its first year of operation. With the exception of the adjusting entries for depreciation, assume that all transactions are cash transactions and that financial statement data are prepared in accordance with GAAP.

1. Acquired $53,000 cash by issuing common stock.
2. Paid $8,000 for the materials used to make its products, all of which were started and completed during the year.
3. Paid salaries of $3,400 to selling and administrative employees.
4. Paid wages of $6,300 to production workers.
5. Paid $5,100 for furniture used in selling and administrative offices. The furniture was acquired on January 1. It had a $1,500 estimated salvage value and a two-year useful life.
6. Paid $12,300 for manufacturing equipment. The equipment was acquired on January 1. It had a $1,800 estimated salvage value and a three-year useful life.
7. Sold inventory to customers for $26,200 that had cost $13,900 to make.

MISSING ONLY 5B AND 6B

Financial Statements Model Assets Equity Income Statement Office Furn. Ret. Ear Event Manuf Equip Cash +Inventory+ Common Rev.Exp Net Inc. stock 53,000 + 53,000+ 2(8,0008,000+ 3 (3,400)+ +(3,400) 34001- (3,400) 4 (6300)| + 5a (5,100)+ 5b 6a (12,300)+ 6b 6.300| + 5,100 12,300 26,200 -13,900(13,900) 8,900 +26,20026,200 - 7b +(13,900)+ +(13,900) Tota44,100+ 400 12,300+ 5,100 53,000+ 8,90026,200- 17,300