Samson's Snow Plow, Inc. Chapter 6 Homework - January At the beginning of January, Samson learned that a new type of snow shovel was being manufactured by Tantan, Inc. called The Snow Lirard. Tauntaun, Inc. engaged in an agressive marketing campaign to promote The Snow Lirard as the best snow shovel ever invented. Samson decided to buy some of these shovels in an attempt to expand his wrvice business into the merchandising market. During the month of January, Samson's Snow Plow Inc. engaged in the following business activities Business Transaction 29. Plowed 20 parking lots for cash charging $75 per lot 30. Received payment in advance from Josey's Re-Sale and Tim's Hardware for plowing during the month of February March and April totaling $450 (2 lots, 3 months. $75 per month 31. Billed 15 customers after plowing their lots during January. Total bilings were $1. 125. Requested payment within 30 days 32. Received payments from 13 customers ($75 each) for plowing services performed in November and December 33. Paid Joey Carmike, Samson's single employee, $12/hour for 34. Paid for 85 gallons of fuel at an average price of $4.07/alion hours of work 35. Paid $200 to rent a storefront building for the month of lanuary. Samson intends to use this storefront to sell Snow Lizard shovels. 36. Samson purchased 50 Snow Lirard shovels on account from Tauntaun, Inc. for 512 per shovel 37. Samson paid his income taxes from the first quarter (October-December). 38. Sold 30 Snow Lirard shovels to individual customers for cash charging $10 each 39. Sold 3 Snow Lizard shovels on account to Tim's Hardware charging $30 each, terms 2/10, 30 40. Returned 1 damaged shovel to Tauntaun, Inc. 41 Paid Tauntaun, Inc. for shovels purchased in (36) less 1 returned shovel 42. Received payment within the discount period from Tim's Hardware for shovels purchased in (39). 43. Paid interest accrued on Note Payable refer to transaction 26). Adjustments: 44. Received the January utility bill for the storefront $50. The bill will be paid in February 45. Samson's Snow Plow used the storage unit for the month of January (Adjust the prepaid rent account accordingly). 46. Plowed Rainbow Lake Cemetery, Buds Sports Bar, Stan's Cheese Boutique, Louis Plumbing, and Sally's Sportswear during January. These customers paid in advance for these services. 47. At the end of the month, Samson counted the remaining supplies and determined that $85 of supplies were still on hand. 48. Samson was profitable during the month of January. As a result, the company must pay $586.88 in Income Taxes. The taxes will be paid at the beginning of the third quarter (April 2019). Required: a. Record transactions (29) through (43) in a journal. b. Post the journal entries to T-accounts. (T-Accounts have the following beginning balances) Cash S1031575, AR $1,725.00, Supplies $145.00, Prepaid Rent $100.00; Equipment $10,000, Accumulated Depreciation $212.50 Trademark $330.00 Accounts Payable $100; Deferred Revenue $975, interest Payable $75.00; Income Tax Payable $175.98, Notes Payable $10,000 . Common Stock $10,000; Retained Earnings $877.27 c. Prepare an unadjusted Trial Balance at January 31, 2027. d. Prepare adjusting entries for (44) through (48) and post them to the T-Accounts. e. Prepare an Adjusted Trial Balance at January 31, 2027. f. Prepare an Income Statement and a Retained Earnings Statement for the month ended January 31, 2027 along with a classified Balance Sheet at January 31, 2027. Calculate Debt-to-Equity Ratio, Current Ratio, and Net Profit Margin as of January 31, 2027 Check figures: Cash $11,684.02. Total Assets $24,033.52, Totor ities $11,786.88 Net Income $1,369.37 Samson's Snow Plow, Inc. Chapter 6 Homework - January At the beginning of January, Samson learned that a new type of snow shovel was being manufactured by Tantan, Inc. called The Snow Lirard. Tauntaun, Inc. engaged in an agressive marketing campaign to promote The Snow Lirard as the best snow shovel ever invented. Samson decided to buy some of these shovels in an attempt to expand his wrvice business into the merchandising market. During the month of January, Samson's Snow Plow Inc. engaged in the following business activities Business Transaction 29. Plowed 20 parking lots for cash charging $75 per lot 30. Received payment in advance from Josey's Re-Sale and Tim's Hardware for plowing during the month of February March and April totaling $450 (2 lots, 3 months. $75 per month 31. Billed 15 customers after plowing their lots during January. Total bilings were $1. 125. Requested payment within 30 days 32. Received payments from 13 customers ($75 each) for plowing services performed in November and December 33. Paid Joey Carmike, Samson's single employee, $12/hour for 34. Paid for 85 gallons of fuel at an average price of $4.07/alion hours of work 35. Paid $200 to rent a storefront building for the month of lanuary. Samson intends to use this storefront to sell Snow Lizard shovels. 36. Samson purchased 50 Snow Lirard shovels on account from Tauntaun, Inc. for 512 per shovel 37. Samson paid his income taxes from the first quarter (October-December). 38. Sold 30 Snow Lirard shovels to individual customers for cash charging $10 each 39. Sold 3 Snow Lizard shovels on account to Tim's Hardware charging $30 each, terms 2/10, 30 40. Returned 1 damaged shovel to Tauntaun, Inc. 41 Paid Tauntaun, Inc. for shovels purchased in (36) less 1 returned shovel 42. Received payment within the discount period from Tim's Hardware for shovels purchased in (39). 43. Paid interest accrued on Note Payable refer to transaction 26). Adjustments: 44. Received the January utility bill for the storefront $50. The bill will be paid in February 45. Samson's Snow Plow used the storage unit for the month of January (Adjust the prepaid rent account accordingly). 46. Plowed Rainbow Lake Cemetery, Buds Sports Bar, Stan's Cheese Boutique, Louis Plumbing, and Sally's Sportswear during January. These customers paid in advance for these services. 47. At the end of the month, Samson counted the remaining supplies and determined that $85 of supplies were still on hand. 48. Samson was profitable during the month of January. As a result, the company must pay $586.88 in Income Taxes. The taxes will be paid at the beginning of the third quarter (April 2019). Required: a. Record transactions (29) through (43) in a journal. b. Post the journal entries to T-accounts. (T-Accounts have the following beginning balances) Cash S1031575, AR $1,725.00, Supplies $145.00, Prepaid Rent $100.00; Equipment $10,000, Accumulated Depreciation $212.50 Trademark $330.00 Accounts Payable $100; Deferred Revenue $975, interest Payable $75.00; Income Tax Payable $175.98, Notes Payable $10,000 . Common Stock $10,000; Retained Earnings $877.27 c. Prepare an unadjusted Trial Balance at January 31, 2027. d. Prepare adjusting entries for (44) through (48) and post them to the T-Accounts. e. Prepare an Adjusted Trial Balance at January 31, 2027. f. Prepare an Income Statement and a Retained Earnings Statement for the month ended January 31, 2027 along with a classified Balance Sheet at January 31, 2027. Calculate Debt-to-Equity Ratio, Current Ratio, and Net Profit Margin as of January 31, 2027 Check figures: Cash $11,684.02. Total Assets $24,033.52, Totor ities $11,786.88 Net Income $1,369.37