selling prices

regular bike $165

XL Bike $185

Regular Helmet $24

Large Size Helmet $30

3) Common She 2,000 t 12,00 20.000 100002-2003 Amouna tercess of porouco 12000 100018 PART 1: Record the business activity as journal entries, post to Ledgers, prepare the unadjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 24.000 11/01/2020: Chelsea contributes $18,000 cash and Clint contributes $6.000 in cash and industrial D) to shelving and other equipment worth $12,000 (fair value). The shelving and equipment have the Partners for this transaction 1,000x2= 2000 21101/2020: Pedal Pushers signs a lease with Rightway Realty for retail space and pay $2,700 for the first month's rent 11/01/2020: Pedal Pushers purchases a 6 month insurance policy to insure the business, paying $1,500 4) 11/02/2020: Pedal Pushers buys a Point-of-Sale (POS) system for the cashier station. 54300, on account with terms Net 45 FOB Shipping Point, It has an estimated 6 year life and no residual value. 5) which Pedal Pushers pays 11/04/2020: The POS system arrives and the trucking company presents a freight invoice of $92. 11/04/2020. Pedal Pushers borrows $15,000 from their bank. The amount must be paid back in 0 90 days with 5% interest. coch 15,00 Nje 7) 11/04/2020: Pedal Pushers buys office supplies for $590. 11/04/2020: Pedal Pushers purchases 100 $85 Pro-Cycle bikes (regular size) and 60 595 Pro- Cycle bikes (XL size) on account from Discount Distribution LLC. terms 296/15. Net 30. FOB Destination. Pedal Pushers is selling the regular size bike for $165 and the XL size bike for $185 The inventory should be delivered 11/9/2020, 10065-8,500 LOX S=5700 11/05/2020: Pedal Pushers purchases 55 regular size $12 bike helmets and bs XL sine 515 bike helmets from Outfitters Wholesale Corp., terms 196/10, Net 30, FOB Destination. The helmets should arrive 11/9/2020. The company will charge customers $24 for the regular size and 530 for the larger size 55x12 LOGO 25*15= 375 (0) 11/09/2020: Both purchases from the 4" and the arrive at the shop 10) 11/12/2020: Customer buys a regular size bike, paying cash. 85 12) 11/14/2020: Customer buys 2 XL bikes, paying cash. 13) 11/21/2020: Pedal Pushers pays for the purchase made on the 4". 14 11/22/2020: Customer buys a regular size bike and a regular size helmet, paying cash. 15/11/30/2020: A count of office supplies shows that $320 are remaining helmet 660 1510 Bayu a 11/09 Regular XL 375 Alp 1055 helmet 5976 92=276 13-52 30 1437 165 - 1851 Regular bare 166 Regular helmet 24 XL ore 185 Large Size Record the business activity as journal entries, post to Ledgers, prepare the adjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 12/01/2020: Sell on labout to Walker Fitness Gym, terms 1/35, 130, the following: 36 Regular Bikes, 36 Regular Helmets, 14 XL Bikes, 14 XL Helmets Salace 12/02/2020: Pay for the helmet purchase that was made November 12/03/2020: Purchase on account, terms 2/15, 1/30, POB Destination from Discount Sports Distribution the following items, and received the same day 30 Regular Bikes for $92/cach=2760 4376 16 XI Bikes for $101/cach i bol 80 Regular Helmets for 313/cach = 1040 40 XL Helmets for $14leach 1600 S60 185 24. 12/04/2020: Sold to cash customers 6 XL Bikes, 5 XL Helmets, 3 Regular Bikes, and 4 Regular Helmets 101 = 606 4110 150 495 12/5/2020: Sold to cash customers 22 Regular Bikes, 18 Regular Helmets, and S XL Bikes lo X13 12/6/2020: Paid the bill for the purchase of the Point-of-Sale system. To 12/8/2020: Received a utilities bill for the bundled phone internet for the shop. Paid it the same day. $215. oly expenses Oh payable 215 12/10/2020: Sold to cash customers 19 Regular Bikes, 2 Regular Helmets, 10 XL. Bikes 6 XLX307 Helmets XLS AIR 24 XS 5*92=400 2x13 - 26 5xtosos 12/11/2020: Sold on account to Ripley's Raceway Park, Serms 1/15, 1/30, 20 cach of the 4 inventory items. 14X85 5x95=475 12/12/2020: Received payment from Walker's Fitness Gym for the entire purchase they made with us on December 1" 12/15/2020: Clint and Chelsea decide to take a $5,000 dividend for each of them. They will close the shop for a few weeks to cnjoy the year-end holidays and resume business the following year. Adjusting entries: you should make adjusting entries for any expense items needed. Also, a count of office supplies shows only $65 remaining. PART 2: From the Adjusted Trial Balance prepared in Part I, prepare the four financial statements, followed by closing entries, and Post-closing Trial Balance. V2 6x1487 3) Common She 2,000 t 12,00 20.000 100002-2003 Amouna tercess of porouco 12000 100018 PART 1: Record the business activity as journal entries, post to Ledgers, prepare the unadjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 24.000 11/01/2020: Chelsea contributes $18,000 cash and Clint contributes $6.000 in cash and industrial D) to shelving and other equipment worth $12,000 (fair value). The shelving and equipment have the Partners for this transaction 1,000x2= 2000 21101/2020: Pedal Pushers signs a lease with Rightway Realty for retail space and pay $2,700 for the first month's rent 11/01/2020: Pedal Pushers purchases a 6 month insurance policy to insure the business, paying $1,500 4) 11/02/2020: Pedal Pushers buys a Point-of-Sale (POS) system for the cashier station. 54300, on account with terms Net 45 FOB Shipping Point, It has an estimated 6 year life and no residual value. 5) which Pedal Pushers pays 11/04/2020: The POS system arrives and the trucking company presents a freight invoice of $92. 11/04/2020. Pedal Pushers borrows $15,000 from their bank. The amount must be paid back in 0 90 days with 5% interest. coch 15,00 Nje 7) 11/04/2020: Pedal Pushers buys office supplies for $590. 11/04/2020: Pedal Pushers purchases 100 $85 Pro-Cycle bikes (regular size) and 60 595 Pro- Cycle bikes (XL size) on account from Discount Distribution LLC. terms 296/15. Net 30. FOB Destination. Pedal Pushers is selling the regular size bike for $165 and the XL size bike for $185 The inventory should be delivered 11/9/2020, 10065-8,500 LOX S=5700 11/05/2020: Pedal Pushers purchases 55 regular size $12 bike helmets and bs XL sine 515 bike helmets from Outfitters Wholesale Corp., terms 196/10, Net 30, FOB Destination. The helmets should arrive 11/9/2020. The company will charge customers $24 for the regular size and 530 for the larger size 55x12 LOGO 25*15= 375 (0) 11/09/2020: Both purchases from the 4" and the arrive at the shop 10) 11/12/2020: Customer buys a regular size bike, paying cash. 85 12) 11/14/2020: Customer buys 2 XL bikes, paying cash. 13) 11/21/2020: Pedal Pushers pays for the purchase made on the 4". 14 11/22/2020: Customer buys a regular size bike and a regular size helmet, paying cash. 15/11/30/2020: A count of office supplies shows that $320 are remaining helmet 660 1510 Bayu a 11/09 Regular XL 375 Alp 1055 helmet 5976 92=276 13-52 30 1437 165 - 1851 Regular bare 166 Regular helmet 24 XL ore 185 Large Size Record the business activity as journal entries, post to Ledgers, prepare the adjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 12/01/2020: Sell on labout to Walker Fitness Gym, terms 1/35, 130, the following: 36 Regular Bikes, 36 Regular Helmets, 14 XL Bikes, 14 XL Helmets Salace 12/02/2020: Pay for the helmet purchase that was made November 12/03/2020: Purchase on account, terms 2/15, 1/30, POB Destination from Discount Sports Distribution the following items, and received the same day 30 Regular Bikes for $92/cach=2760 4376 16 XI Bikes for $101/cach i bol 80 Regular Helmets for 313/cach = 1040 40 XL Helmets for $14leach 1600 S60 185 24. 12/04/2020: Sold to cash customers 6 XL Bikes, 5 XL Helmets, 3 Regular Bikes, and 4 Regular Helmets 101 = 606 4110 150 495 12/5/2020: Sold to cash customers 22 Regular Bikes, 18 Regular Helmets, and S XL Bikes lo X13 12/6/2020: Paid the bill for the purchase of the Point-of-Sale system. To 12/8/2020: Received a utilities bill for the bundled phone internet for the shop. Paid it the same day. $215. oly expenses Oh payable 215 12/10/2020: Sold to cash customers 19 Regular Bikes, 2 Regular Helmets, 10 XL. Bikes 6 XLX307 Helmets XLS AIR 24 XS 5*92=400 2x13 - 26 5xtosos 12/11/2020: Sold on account to Ripley's Raceway Park, Serms 1/15, 1/30, 20 cach of the 4 inventory items. 14X85 5x95=475 12/12/2020: Received payment from Walker's Fitness Gym for the entire purchase they made with us on December 1" 12/15/2020: Clint and Chelsea decide to take a $5,000 dividend for each of them. They will close the shop for a few weeks to cnjoy the year-end holidays and resume business the following year. Adjusting entries: you should make adjusting entries for any expense items needed. Also, a count of office supplies shows only $65 remaining. PART 2: From the Adjusted Trial Balance prepared in Part I, prepare the four financial statements, followed by closing entries, and Post-closing Trial Balance. V2 6x1487