Samson's Snow Plow, Inc. Chapter 9 Homework-April During the month of April, Samson engaged in the following business activities Business 80, Plowed 10 parking lots for ash charging S75 per lot. 7tO 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 months.$300 83. Paid Joey Carmike and Samson's new employee, Egon Spengler,$12/hour for 140 hours of collective work. Io 80 8s. Paid 200for March rent on the storefront building. 86. Samson has determined that $180 owed to him by Alf's Art Shop and Joe's Lobsters will not be collectible and should be written off 87. Received payment for 8 shovels sold on credit in February (no discount $360 88. Purchased 100 Snow Lizard shovelson account for $20 each on April 9th. Samson had 26 shovels in beginning inventory on April 1 each with a cost of $19 89. Sold Snow Lizard shovels naccount for SS with terms2 10 n/30. Samson continuestoutilize the FIFO ethod of ntory costing to 90. Paid the March utility bill, which was accrued for at the end of February, 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) $1,080.43. 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-line 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 2019). (Hint:Calculate amount using T. Samson's note payable with Rainbow Lake State Bank is a $10,000 3% 9 month note). PxRx 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 2019) Required a. Record transactions (80) through (93) in a journal. b. Post the journal eptries to T-accoupte (T-Accounts have the following begmning balances) Cash $356422; A/R$2560.00, Allowance for Doubtful Asgoents 5734.50, Inyentory $492.00; Supplies $25.00; Prepaid Rent $40.80; Equipment $101000; Accumulated n $425.00; Trademark330 * Accounts Payable $1,750.00; Unearned Revenue $150.00; Income Tax Payable $1,080.43; Notes Payable $10,000 " Common Stock $10,000; Retained Eothings $3,398.29 c. d. e. f. Prepare an unadjusted Trial Balance at April 30, 2019. Prepare adjusting entries for (94) through (100) and post them to the T-Accounts. Prepare an Adjusted Trial Balance at April 30, 2019 Prepare a Multi-Step Income Statement and a Retained Earnings Statement for the month ended April 30, 2019 along with classified Balance Sheet at April 30, 2019 heck figures: Cash $10,574.79; Total Assets $24,980.71; 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 80, Plowed 10 parking lots for ash charging S75 per lot. 7tO 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 months.$300 83. Paid Joey Carmike and Samson's new employee, Egon Spengler,$12/hour for 140 hours of collective work. Io 80 8s. Paid 200for March rent on the storefront building. 86. Samson has determined that $180 owed to him by Alf's Art Shop and Joe's Lobsters will not be collectible and should be written off 87. Received payment for 8 shovels sold on credit in February (no discount $360 88. Purchased 100 Snow Lizard shovelson account for $20 each on April 9th. Samson had 26 shovels in beginning inventory on April 1 each with a cost of $19 89. Sold Snow Lizard shovels naccount for SS with terms2 10 n/30. Samson continuestoutilize the FIFO ethod of ntory costing to 90. Paid the March utility bill, which was accrued for at the end of February, 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) $1,080.43. 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-line 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 2019). (Hint:Calculate amount using T. Samson's note payable with Rainbow Lake State Bank is a $10,000 3% 9 month note). PxRx 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 2019) Required a. Record transactions (80) through (93) in a journal. b. Post the journal eptries to T-accoupte (T-Accounts have the following begmning balances) Cash $356422; A/R$2560.00, Allowance for Doubtful Asgoents 5734.50, Inyentory $492.00; Supplies $25.00; Prepaid Rent $40.80; Equipment $101000; Accumulated n $425.00; Trademark330 * Accounts Payable $1,750.00; Unearned Revenue $150.00; Income Tax Payable $1,080.43; Notes Payable $10,000 " Common Stock $10,000; Retained Eothings $3,398.29 c. d. e. f. Prepare an unadjusted Trial Balance at April 30, 2019. Prepare adjusting entries for (94) through (100) and post them to the T-Accounts. Prepare an Adjusted Trial Balance at April 30, 2019 Prepare a Multi-Step Income Statement and a Retained Earnings Statement for the month ended April 30, 2019 along with classified Balance Sheet at April 30, 2019 heck figures: Cash $10,574.79; Total Assets $24,980.71; Total Liabilities $11,006.73; Net Income (FIFO) $575.69