Samson's Snow Plow, Inc. Chapter 9 Homework - April During the month of April, Samson engaged in the following business activities Business Transactions 80. Plowed 10 parking lots for cash charging $75 per lot 81. Plowed for Tim's Hardware and Josey's Re-Sale who had paid in previous months 82. Collected from 4 customers for whom plowing services had been performed in previous month: $300 83. Pald Joey Carmike and Samson's new employee Leon Spengler. $12/hour for 140 hours of collective work 84. Paid for 40 gallons of fuel at an average price of $4.15/gallon. 85. Paid $200 for Aprilrent on the storefront building 86. Samson has determined that $180 owed to him by Alf's Art Shop and loe's Lobsters will not be collectible and should be written off 87. Received payment for 4 shovels sold on credit in February (no discount) $180 88. Purchased 100 Snow Lizard shovels for $20 cash each on April 9th. Samson had 26 shovels in beginning inventory on April 1 each with a cost of $19. 89. Sold 75 Snow Lirard shovels on account for $50 each with terms 2/10 /30 Samson continues to utilize the FIFO method of inventory costing 90. Paid the March utility bill, which was accrued for at the end of March, along with other numerous other payables $1,060. 91. Paid interest accrued on Note Payable $75. 92. Samson paid his income taxes from the second quarter (January-March $1,080.44. 93. Received payment for 50 shovels sold on credit in March for $38 each within the discount period Adjustments: 94. Received the April utility bill for the storefront $45. The bill will be paid in May. 95. Samson has decided to record depreciation monthly instead of quarterly. The truck/plow has an original cost of $10,000, a residual value of $1,500, and an estimated useful life of 10 years. Samson has chosen to use the straight-lir method of depreciation. 96. Samson's Snow Plow used the storage unit for the month of April. (Adjust the prepaid rent account accordingly. 97. At the end of the month, Samson counted the remaining supplies and determined that $10 of supplies were still on hand. 98. Samson has also decided to accrue interest on the note payable with Rainbow Lake State Bank on a monthly basis. Interest payment will be made at the beginning of the fourth quarter (July 2027). (Hint: Calculate amount using IP. x T. Samson's note payable with Rainbow Lake State Bank is a $10,000 3% 9 month note). 99. At the end of April, Samson estimated bad debts using 2.5% of credit sales 100. Samson was profitable during the month of April. As a result, the company must pay $246.73 in Income Taxes. The taxes will be paid at the beginning of the fourth quarter (July 2027). Required: a. Record transactions (80) through (93) in a journal. b. Post the journal entries to T-accounts. (T-Accounts have the following beginning balances) . Cash $13,564.22, A/R $2,560.00; Allowance for Doubtful Accounts $13.50, Inventory S494.00; Supplies $25.00; Prepaid S40.00; Equipment $10,000, Accumulated Depreciation $425.00; Trademark 5330700 Accounts Payable $1,750.00; Deferred Revenue $150.00; Income Tax Payable SLORO.43; Interest Payable $75; Notes Port $10,000 . Common Stock $10,000; Retained Eamings $3,398 29 c. Prepare an unadjusted Trial Balance at April 30, 2027. d. Prepare adjusting entries for (94) through (100) and post them to the T-Accounts e. Prepare an Adjusted Trial Balance at April 30, 2027. 1. Prepare a Multi-Step Income Statement and a Retained Earnings Statement for the month ended April 30, 2027 along a classified Balance Sheet at April 30, 2027. Check figures: Cash $10,574.78; Total Assets $24,980. 70; Total Liabilities $11,006.73; Net Income (FIFO) $575.69 Samson's Snow Plow, Inc. Chapter 9 Homework - April During the month of April, Samson engaged in the following business activities Business Transactions 80. Plowed 10 parking lots for cash charging $75 per lot 81. Plowed for Tim's Hardware and Josey's Re-Sale who had paid in previous months 82. Collected from 4 customers for whom plowing services had been performed in previous month: $300 83. Pald Joey Carmike and Samson's new employee Leon Spengler. $12/hour for 140 hours of collective work 84. Paid for 40 gallons of fuel at an average price of $4.15/gallon. 85. Paid $200 for Aprilrent on the storefront building 86. Samson has determined that $180 owed to him by Alf's Art Shop and loe's Lobsters will not be collectible and should be written off 87. Received payment for 4 shovels sold on credit in February (no discount) $180 88. Purchased 100 Snow Lizard shovels for $20 cash each on April 9th. Samson had 26 shovels in beginning inventory on April 1 each with a cost of $19. 89. Sold 75 Snow Lirard shovels on account for $50 each with terms 2/10 /30 Samson continues to utilize the FIFO method of inventory costing 90. Paid the March utility bill, which was accrued for at the end of March, along with other numerous other payables $1,060. 91. Paid interest accrued on Note Payable $75. 92. Samson paid his income taxes from the second quarter (January-March $1,080.44. 93. Received payment for 50 shovels sold on credit in March for $38 each within the discount period Adjustments: 94. Received the April utility bill for the storefront $45. The bill will be paid in May. 95. Samson has decided to record depreciation monthly instead of quarterly. The truck/plow has an original cost of $10,000, a residual value of $1,500, and an estimated useful life of 10 years. Samson has chosen to use the straight-lir method of depreciation. 96. Samson's Snow Plow used the storage unit for the month of April. (Adjust the prepaid rent account accordingly. 97. At the end of the month, Samson counted the remaining supplies and determined that $10 of supplies were still on hand. 98. Samson has also decided to accrue interest on the note payable with Rainbow Lake State Bank on a monthly basis. Interest payment will be made at the beginning of the fourth quarter (July 2027). (Hint: Calculate amount using IP. x T. Samson's note payable with Rainbow Lake State Bank is a $10,000 3% 9 month note). 99. At the end of April, Samson estimated bad debts using 2.5% of credit sales 100. Samson was profitable during the month of April. As a result, the company must pay $246.73 in Income Taxes. The taxes will be paid at the beginning of the fourth quarter (July 2027). Required: a. Record transactions (80) through (93) in a journal. b. Post the journal entries to T-accounts. (T-Accounts have the following beginning balances) . Cash $13,564.22, A/R $2,560.00; Allowance for Doubtful Accounts $13.50, Inventory S494.00; Supplies $25.00; Prepaid S40.00; Equipment $10,000, Accumulated Depreciation $425.00; Trademark 5330700 Accounts Payable $1,750.00; Deferred Revenue $150.00; Income Tax Payable SLORO.43; Interest Payable $75; Notes Port $10,000 . Common Stock $10,000; Retained Eamings $3,398 29 c. Prepare an unadjusted Trial Balance at April 30, 2027. d. Prepare adjusting entries for (94) through (100) and post them to the T-Accounts e. Prepare an Adjusted Trial Balance at April 30, 2027. 1. Prepare a Multi-Step Income Statement and a Retained Earnings Statement for the month ended April 30, 2027 along a classified Balance Sheet at April 30, 2027. Check figures: Cash $10,574.78; Total Assets $24,980. 70; Total Liabilities $11,006.73; Net Income (FIFO) $575.69