Save Common Stock Equipment Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Salaries and Wages Payable Software 18 345 164 205 4 20 365 34 45 Required: Assume that the following events occurred in the following quarter. a. Paid $40 cash for additional inventory b. issued additional shares of common stock for $35 in cash. c. Purchased equipment for $230; paid $110 in cash and signed a note to pay the remaining $120 in two years. d. Signed a short-term note to borrow $15 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $50. General General Requirement Journal Ledger Trial Balance Balance Sheet Current Ratio General Journal tab - Prepare the journal entries to record the transactions (a) through (e). Review the accounts as show in the General Ledger and Trial Balance tabs General Ledger tab - Each journal entry is posted automatically to the general ledger Trial Balance tab - The ending balance values from the General Ledger tab flows through to the Trial Balance tab. Balance Sheet tab - Prepare a classified balance sheet at September 30, 2019. Current Ratio tab - Analyze the impact of the current ratio Rumpulant General Journal > 5 Fabulous Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adopted from Fabulous Allen's June 30, 2019, trial balance. (The amounts shown represent millions of dollars) accounts Payable $ 100 Accounts Receivable 24 Canh 128 Common Stock Equipment 345 taventory 164 Notes Payable (long-ter) 205 Notes Payable short-ter) Prepaid rent 20 Metained Earnings Balaries and Wages Payable software eBook 4 Print 34 49 forences Required: Assume that the following events occurred in the following quarter, a Paid $40 cash for additional Inventory b. Issued additional shares of common stock for $35 in cash c Purchased equipment for $230 paid $10 inch and signed a note to pay the remaining $120 in two years. d. Signed a short term note to borrow $15 cash e Conducted negotiations to purchase a sowill, which is expected to cost $50 General General Requirement Journal Ledger Trawatanon Balance sheet Current Ratio Prepare a classified balance sheet at September 30, 2019. Use the dropdowns to select the accounts property included on the balance sheet FABULOUS ALLEN INTERIORS, INCORPORATED Balance Sheet At September 30, 2019 Assets Graw Mc Requirement General Journal General Ledger Trial Balance Balance Sheet Current Ratio The ending bciance values from the General Ledger tab flows through to the Trial Balance below. FABULOUS ALLEN INTERIORS, INCORPORATED Trial Balance July 01, 2020 Account Title Debit Credit $ 28 24 204 20 575 45 Cash Accounts Receivable Inventory Prepaid Rent Equipment Software Accounts Payable Salaries and Wages Payable Notes Payable (short-term) Notes Payable (long-term) Common Stock Retained Earnings Total 100 34 19 325 B 365 896 $ 890 $
