STL Appliance Outlet$$s trial balance on January $1,2021.$ Beg TB Background Info

$2$ A list of events that occurred during $2021.$ Events Background Info

$3$ An accounting equation grid for you to analyze the impacts of the events. Grid Completion Required

Note: check totals on rows $42-46,$ These rows should match

$4$ A worksheet to analyze the cost of inventory and the cost of goods sol

Jan. $4,2021-$ STL Appliance Outlet paid the salaries payable from $2020.$

b$)$ Jan. $6,2021-$ STL Appliance Outlet purchased $40$ appliances for later sale at a cost of $$16,450.$ The

appliances were purchased on account with the terms $1/10,$ n$/30.$

c$)$ Jan. $8,2021-$ The company paid $$1,170$ cash for supplies to be used by the business.

d$)$ Jan. $12,2021-$ The company acquired an additional $$65,000$ cash from the issue of common stock.

e$)$ Jan. $15,2021-$ STL Appliance Outlet decided to pay $$5,000$ of its accounts payable balance from event

$($b$)$ before the discount period expired, so STL Appliance Outlet first applied the discount to the $$5,000$

amount so it could reduce its accounts payable balance $($note: the actual payment is described in event

$($f$)$ below$).$ After applying this discount, STL Appliance Outlet$$s inventory cost was $$410$ for each item.

f$)$ Jan. $15,2021-$ STL Appliance Outlet paid cash to settle parts of its accounts payable balance as

described in event $($e$).$

g$)$ Feb. $9,2021-$ The company provided $$46,800$ of appliance repair services. The services were billed to

the customers.

h$)$ Feb. $12,2021-$ The company sold $25$ appliances for a total price of $$23,400.$ Sales of $$16,900$ were on

account, while $$6,500$ were cash sales.

i$)$ Feb. $12,2021-$ The cost to STL Appliance Outlet of each product sold in event $($h$)$ was $$410.$

j$)$ Feb. $25,2021-$ The company paid the workers a total of $$10,920$ in salaries.

k$)$ Feb. $26,2021-$ Paid cash to settle additional accounts payable in the amount of $$2,140.$ The payment

was made after the discount period expired.

l$)$ Mar. $1,2021-$ STL Appliance Outlet rented a business van, paying $$6,240$ in advance for a one year

rental.

m$)$ Mar. $18,2021-$ Collected $$49,400$ of accounts receivable.

n$)$ Apr. $20,2021-$ STL Appliance Outlet performed $$18,200$ worth of appliance repair services for a local

college; $$15,600$ was on account and $$2,600$ was for cash.

o$)$ May. $1,2021-$ Paid $$9,360$ for one year$$s rent on office space in advance.

p$)$ May. $5,2021-$ STL Appliance Outlet purchased, and paid cash, for $20$ appliances for later sale at a cost of

$$414$ each.

q$)$ May. $21,2021-$ The company paid accounts payable of $$1,870,$ but not within the discount period $($the

company uses the gross method$).$

r$)$ Jun. $1,2021-$ STL Appliance Outlet rented a larger building; paid $$8,580$ for $12$ months$$ rent in advance.

s$)$ Jun. $8,2021-$ STL Appliance Outlet purchased, and paid cash, for $10$ appliances for later sale at a cost of

$$415$ each.

t$)$ Jun. $9,2021-$ STL Appliance Outlet purchased $5$ appliances for later sale at a cost of $$420$ each. The

purchase was on account.

u$)$ Jun. $16,2021-$ The company sold $30$ appliances for a total price of $$36,400.$ Sales of $$26,000$ were on

account, while $$10,400$ were cash sales.

v$)$ Jun. $16,2021-$ Record the cost of goods sold related to the sale from event $($u$)$ using the perpetual FIFO

method.

w$)$ Jul. $1,2021-$ Paid employees a total of $$14,300$ cash for salaries employees earned during the current

period.

x$)$ Jul. $15,2021-$ Made a full refund to a dissatisfied customer who returned an appliance. The sale had

been a cash sale for $$850$ with a cost of $$414.$ Record the revenue part of the event.

y$)$ Jul. $15,2021-$ Made a full refund to a dissatisfied customer who returned an appliance. The sale had

been a cash sale for $$850$ with a cost of $$414.$ Record the cost part of the event.

z$)$ Aug. $20,2021-$ Provided $$41,600$ of appliance repair services during the year. The services were billed to

the customers.

aa$)$ Sep. $30,2021-$ Recognized $$1,040$ of service revenue earned during the first nine months of the year; it

had been collected in the prior year.

bb$)$ Oct. $1,2021-$ Sold a contract for additional future appliance repair services worth $$520$ for one year$$s

service, starting immediately. The customers paid cash for the full amount.

cc$)$ Nov. $8,2021-$ Paid an additional $$7,150$ to settle some accounts payable; the payment was made after

the discount period expired.

dd$)$ Nov. $17,2021-$ Collected $$66,300$ of accounts receivable.

ee$)$ Dec. $28,2021-$ Paid $$5,430$ of utilities expense for the year.

ff$)$ Dec. $29,2021-$ Paid a cash dividend of $$15,600$ to the shareholders.

gg$)$ Dec. $29,2021-$ Paid $$3,640$ of advertising expense during the year.

hh$)$ Dec. $30,2021-$ Paid $$16,210$ of other operating expense for the year.

ii$)$ Dec. $31,2021-$ There was $$820$ of supplies on hand at the end of the year.

jj$)$ Dec. $31,2021-$ Recognized revenue for the current year earned from event $($bb$).$

kk$)$ Dec. $31,2021-$ Accrued salaries at December $31$ were $$1,560.$

ll$)$ Dec. $31,2021-$ Recognized the expired rent from the prior year, van $[$event $($l$)),$ office space $($event $($o