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The terms and information is on the first page, the trial balance is done now I am having trouble with the supplement questions at the

The terms and information is on the first page, the trial balance is done now I am having trouble with the supplement questions at the end image text in transcribed
image text in transcribed
image text in transcribed
nstructions You must turn in the work performed on the shets printed with this page. This WILL ACCEPTED ON PLAIN PAPER -#8). ite the journal entries (on the following General Journal page) required for each of the events described below. Write the entries in the order described below (#1 Use ONLY the accounts listed on the trial balance for your journal entries " Post the transactions to individual T-accounts and prepare an adjusted trial balance for your ass company from page one as of December 31, 2017 The company pu chased a building December 1, 2017 with a LT Mortgage Payable of $300,000 at 8% 1 interest. (Record the purchase of the building.) 2. The company issued 1,000 shares of Common Stock for $6,000 on December 25, 2017 3. On December 29, 2017 the company declared a cash dividend of $ 3.00 per share for common stock on the shares issued and declared (including the additional 1,000 shares issued on December 25) 4. The terms of the LT mortgage payable from #1 above require the company to make monthly installment payments over the term of the loan. Each payment consists of interest on the unpaid balance of the loan and a reduction of loan principal. Record the first monthly payment of $3,800 on the LT Mortgage Payable on December 31, 2017 5. The company last paid interest on the ST note payable on November 1, 2017. Record the accrued interest expense for the last 2 months of 2017. The annual interest rate is 8%. whole dollar Round tonearest 6. The Bonds Payable and related Premium amounts on the Nov. trial balance relate to the Jan. 1, 2017 issuance of the following bonds: On Jan. 1, 2017, the company issued 10%, 10-year bonds when the market rate for similar investments was 8%. The company pays interest each year on January 1. O Dec. 31, 2017, use the effective interest method of amortizing the premium on bonds payable to acc the interest expense for 2017. Round your interest expense calculation to the nearest wh dollar. 7. The Unearned Revenue amount on the Nov. trial balance relates to amounts that the company previously collected in cash for sales that were to be completed in the future. The company completed some of these sales during December and now owes only $10,000 of that unearned revenue. Record the necessa adjustment for December 31, 2017. ry On December 31, 2017, the company purchased 50 shares of its own Preferred Stock for Treasury Stock for $11 per share

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