there is the spreadsheet that it asks about in part one. Please get back to me ASAP
Tabular Summary MNR 09 * 'E) | 2.500 fool 2001 NET 1230 Lise Tatuar Sumary for June, July and August Asus Cwrity Account Notes Imerest Uneamed Retained Owners Explain Revenue or calculation Dute Cash Receivable Supplies tory Equipment Payable Payable Payable Raven Capital Earrings Neues - Expenses. Drawings Expense recorded 110.000 0.000 2-Jun (230) 1.2001 Rent Expense - 12.2001 1.00 - 503 - 20.000 20,000 20 1200 Awing pente 4700 4.700 12 1250) 15-Jun 12.500) 2.500 17 11850 LARS 2-un entry 25- 3.300 3.300 29 2200 1,200 30- 200 12001 Uties Expense olun 2.15 terve 4700 30 (250) 2507 Supplies Expense 650-400 - 1001 rest Expense 20000/ 1200 1.2001 Hent Expo Bul 1435) 250 250 Avertise 6- 2.56 Service Revue 7.1 12900 (200 S. 1200) (1200 10-1 1300 1100 Sales Revenue 300 Cost of God Sold II- 1200 L200 Sales Revenue 700 Cost of Goods Sold (250 ISM 14.000 4.000 15-2001) 10 weeks 2 4250 4.250 M 1.200 1.200 Service Revente 24 1.200 1.00 Sales Revenue 11.30 1.200 Cosef Good Sold 14501 1150 20-4 (2,150 2.15 Service Revenue 4700-2350 2M 241 Secvenue 3300 30- 11.2009 1.2001 Sales Expense M 200 12001 Expense Service Revue 43500 21- 15501 Supplies Expense 125-925-07 300 14.00 nege 2000 TV 1-dug 10000 Sales Returns and Allgemees 300 Cost of Goods Sold 11.2001 3 Aug 11.900 1.500 - 250 1250 Uties Expense 6.AR 4100 4.800 Service Rover 7. 1200 (200 9.aug 5.000 5.000 10- 4200 4.200 3.700 Cost of Goods Sold 1000 14,800 1) 1250) 250 14- 2.200 Santeste- S202 weeks 16- 21. 395 Seni Rue 1300-1425 15.00 13 Sales Revue 300 3001 Cost of Goods Sold 21- 150 Service U42020 27-Aug 15.000 (5.000 24 2.200 Svet IL 700 L 2007 Cost of Goods Sold 27.Aug 1975) 1975) 20-0) (1.000 States Expense=15920 3 weeks 314 200 (2001 Utilities Expense 2.550 Service revenue 1250-450-100 (1.225 11,225 Supplies Expenses 1500 21- 300 100 Inter Experte 200000/12 Totals 1200 3.900 5,150 200 20,00 MOO 30.01. (2275) 11.425 lol = looch lot 009 09 . 05806 Fie Away is a local Professional Organizing Company specializing in decuring you home, work, and living spaces. They offer consultation, coaching and hands-on services, as well as provide organizing products the folders, cortan, Isbel worksheets, baskets, and more Services can last anywhere from runt minuts hours, with both tua sendis home meetings available Products are valable online or the brick-and-mortar shop located in the Albuquerque Metro The company opened in June 2001 by owner Lidia Fe, who was they are trek She grew up organising her stuffed animals and begged her parents to buy her plastic containers to sort the rest of her toy in college. Her friends caled het Fle Cabinet Fle Foider because she was always to organized and had multiples for the coursework Now that she has her own business, she's looking to expand, but she needs some het in the accounting department. She entrated your help to proces some events that have occurred over the new months and to create some financial she to the bank for B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers actions, and total Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work C. Bank Reconciliation Lidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabula analysis for any adjustments required to reach the adjusted cash balance per books Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work Book Balance $28.000 Bank Balance $32.545 Deposits in transit 53.400 Outstanding checks $5.000,51.800 and 5975 Bank charges $35 Interest earned $55 Health insurance auto-craft $450 D. Long-Term Assets if Lidia is able to obtain the new loan she is looking to purchase a company cargova to help haul the merchandise inventory, as well as parchate her own container machine (a machine that makes containers so she can save on her own purchase cost She has found the cargo van she wants to purchase, as well as the machine sheet buy, but wants to look ahead at which depreciation methods she should use that help maximize the use of each as well as increase the income her depreciation Utilizing the information below. calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line Units of Production and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cant Cargo Van Price $26.000 Machine Price $48.000 Salvage value $2.000 Salvage value $3.000 Useful ile 10 years Use the years Totalmes 90.000 Total hours 15.000 Yr 1 miles 12.100 Yr 1 hours 1.250 Yr 2 miles 9.400 Yr 2 hours 1460 BONUS (worth 30 points - optional) E Calculate Inventory Is been half a you wid Lidia's business has really taken of She cured her and has started accepting more clients, which in tum means more salen. To help w organization she's started selling a lot more containers and baskets Lidia has a large She'd like to determine a better way to cool her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path She has provided you with the information below and would like for you to calculate the con of goods sold and ending inventory using all three cost location methods (FIFO UFO and Weighted Average). Use the periodic method and be sure to show all of your work to enture Lidia can make the best decision Number of units Cost per unit Tot Beginning inventory 500 $40 R0.000 Purchased in Sept 45 27000 Purchase in Oct 650 40 26.000 Purchase in Nov 24.500 TOAST poods Ending twentory 550 000 35 700 240 there are 5 photos for this problem, the last photo is Lidia's transactions that were recorded File Away is a local Professional Organizing Company, specializing in decluttering your home, work, and living spaces. They offer consultation, coaching, and hands-on services, as well as provide organizing products like folders, containers, labels, worksheets, baskets, and more. Services can last anywhere from thirty minutes to eight hours, with both virtual sessions and in-home meetings available. Products are available online or at the brick-and-mortar shop located in the Albuquerque Metro area. The company opened in June 2021 by owner Lidia File, who was always a neat freak. She grew up organizing her stuffed animals and begged her parents to buy her plastic containers to sort the rest of her toys. In college, her friends called her File Cabinet or File Folder because she was always so organized and had multiple files for all of her coursework. Now that she has her own business, she's looking to expand, but she needs some help in the accounting department. She's enlisted your help to process some events that have occurred over the last few months and to create some financial statements that she can take to the bank for a new loan. B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers, sections, and totals. Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work. C. Bank Reconciliation Lidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance Bank Balance Deposits in transit Outstanding checks Bank charges Interest earned Health insurance auto-draft $28,600 $32,545 $3,400 $5,000, $1,800 and $975 $35 $55 $450 D. Long-Term Assets If Lidia is able to obtain the new loan, she is looking to purchase a company cargo van to help haul the merchandise inventory, as well as purchase her own container machine (a machine that makes containers so she can save on her own purchase cost). She has found the cargo van she wants to purchase, as well as the machine she'd like to buy, but wants to look ahead at which depreciation methods she should use that will help maximize the use of each, as well as increase the income after depreciation. Utilizing the information below, calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line, Units of Production, and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cent Cargo Van Price $26,000 Machine Price $48,000 Salvage value $2,000 Salvage value $3,000 Useful life 10 years Useful life 8 years Total miles 90,000 Total hours 13,000 Yr 1 miles 12,100 Yr 1 hours 1,250 Yr 2 miles 9,400 Yr 2 hours 1,460 BONUS (worth 30 points - optional) E. Calculate Inventory It's been half a year and Lidia's business has really taken off. She secured her loan and has started accepting more clients, which in turn means more sales. To help with organization, she's started selling a lot more containers and baskets. Lidia has a large inventory of baskets that are all different sizes, but each unit is very similar in nature. She'd like to determine a better way to cost her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path. She has provided you with the information below and would like for you to calculate the cost of goods sold and ending inventory using all three cost allocation methods (FIFO, LIFO, and Weighted Average). Use the periodic method and be sure to show all of your work to ensure Lidia can make the best decision. Beginning Inventory Purchased in Sept. Purchase in Oct. Purchase in Nov. Totals (goods avail) Ending Inventory Number of units 500 600 650 700 2450 550 Cost per unit $40 45 40 35 Total $20,000 27,000 26.000 24,500 97,500 Tabular Summary MNR 09 * 'E) | 2.500 fool 2001 NET 1230 Lise Tatuar Sumary for June, July and August Asus Cwrity Account Notes Imerest Uneamed Retained Owners Explain Revenue or calculation Dute Cash Receivable Supplies tory Equipment Payable Payable Payable Raven Capital Earrings Neues - Expenses. Drawings Expense recorded 110.000 0.000 2-Jun (230) 1.2001 Rent Expense - 12.2001 1.00 - 503 - 20.000 20,000 20 1200 Awing pente 4700 4.700 12 1250) 15-Jun 12.500) 2.500 17 11850 LARS 2-un entry 25- 3.300 3.300 29 2200 1,200 30- 200 12001 Uties Expense olun 2.15 terve 4700 30 (250) 2507 Supplies Expense 650-400 - 1001 rest Expense 20000/ 1200 1.2001 Hent Expo Bul 1435) 250 250 Avertise 6- 2.56 Service Revue 7.1 12900 (200 S. 1200) (1200 10-1 1300 1100 Sales Revenue 300 Cost of God Sold II- 1200 L200 Sales Revenue 700 Cost of Goods Sold (250 ISM 14.000 4.000 15-2001) 10 weeks 2 4250 4.250 M 1.200 1.200 Service Revente 24 1.200 1.00 Sales Revenue 11.30 1.200 Cosef Good Sold 14501 1150 20-4 (2,150 2.15 Service Revenue 4700-2350 2M 241 Secvenue 3300 30- 11.2009 1.2001 Sales Expense M 200 12001 Expense Service Revue 43500 21- 15501 Supplies Expense 125-925-07 300 14.00 nege 2000 TV 1-dug 10000 Sales Returns and Allgemees 300 Cost of Goods Sold 11.2001 3 Aug 11.900 1.500 - 250 1250 Uties Expense 6.AR 4100 4.800 Service Rover 7. 1200 (200 9.aug 5.000 5.000 10- 4200 4.200 3.700 Cost of Goods Sold 1000 14,800 1) 1250) 250 14- 2.200 Santeste- S202 weeks 16- 21. 395 Seni Rue 1300-1425 15.00 13 Sales Revue 300 3001 Cost of Goods Sold 21- 150 Service U42020 27-Aug 15.000 (5.000 24 2.200 Svet IL 700 L 2007 Cost of Goods Sold 27.Aug 1975) 1975) 20-0) (1.000 States Expense=15920 3 weeks 314 200 (2001 Utilities Expense 2.550 Service revenue 1250-450-100 (1.225 11,225 Supplies Expenses 1500 21- 300 100 Inter Experte 200000/12 Totals 1200 3.900 5,150 200 20,00 MOO 30.01. (2275) 11.425 lol = looch lot 009 09 . 05806 there are 5 photos for this problem, the last photo is Lidia's transactions that were recorded File Away is a local Professional Organizing Company, specializing in decluttering your home, work, and living spaces. They offer consultation, coaching, and hands-on services, as well as provide organizing products like folders, containers, labels, worksheets, baskets, and more. Services can last anywhere from thirty minutes to eight hours, with both virtual sessions and in-home meetings available. Products are available online or at the brick-and-mortar shop located in the Albuquerque Metro area. The company opened in June 2021 by owner Lidia File, who was always a neat freak. She grew up organizing her stuffed animals and begged her parents to buy her plastic containers to sort the rest of her toys. In college, her friends called her File Cabinet or File Folder because she was always so organized and had multiple files for all of her coursework. Now that she has her own business, she's looking to expand, but she needs some help in the accounting department. She's enlisted your help to process some events that have occurred over the last few months and to create some financial statements that she can take to the bank for a new loan. D. Long-Term Assets If Lidia is able to obtain the new loan, she is looking to purchase a company cargo van to help haul the merchandise inventory, as well as purchase her own container machine (a machine that makes containers so she can save on her own purchase cost). She has found the cargo van she wants to purchase, as well as the machine she'd like to buy, but wants to look ahead at which depreciation methods she should use that will help maximize the use of each, as well as increase the income after depreciation. Utilizing the information below, calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line, Units of Production, and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cent. Cargo Van Price $26,000 Machine Price $48.000 Salvage value $2,000 Salvage value $3,000 Useful life 10 years Useful life 8 years Total miles 90,000 Total hours 13,000 Yr 1 miles 12,100 Yr 1 hours 1,250 Yr 2 miles 9,400 Yr 2 hours 1,460 BONUS (worth 30 points - optional) E. Calculate Inventory It's been half a year and Lidia's business has really taken off. She secured her loan and has started accepting more clients, which in turn means more sales. To help with organization, she's started selling a lot more containers and baskets. Lidia has a large inventory of baskets that are all different sizes, but each unit is very similar in nature. She'd like to determine a better way to cost her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path. She has provided you with the information below and would like for you to calculate the cost of goods sold and ending inventory using all three cost allocation methods (FIFO, LIFO, and Weighted Average). Use the periodic method and be sure to show all of your work to ensure Lidia can make the best decision. Beginning Inventory Purchased in Sept. Purchase in Oct. Purchase in Nov. Totals (goods avail) Ending Inventory Number of units 500 600 650 700 2450 550 Cost per unit $40 45 40 35 Total $20,000 27.000 26,000 24,500 97,500 Tabular Summary Owners Equity Retained Owners Explain Revenue or calculation Earnings + Revenues - Expenses. Drawings Expense Recorded Capital 10.000 (1.2003 Rent Expense (250) Advertising Expense Lidia Tabular Summary for June, July and August Assets Liabilties Accounts Accounts Notes Interest Uneamed. Date Cash Receivable Supplies Inventory Equipment = Payable Payable Payable Revenue 1-Jun 10,000 2-Jun 11.2001 3.Jun 13,300) 3.300 3-un (650) 650 4-Jun 20,000 20,000 5 Jun 250 7-Jun 4,700 4,700 + 13-un (250) (250) 15-Jun 12.500) 2.500 17- (1,850) 1.850 22-Jun 25.Jun 3,300 3.300. 29 1.200 30-un 200 30-Jun (2.350) 30 Jun (250) 30-un 100 2.Jul 11.2001 3-Jul (475) 475 5-lul 250 6-Jul 2.500 7-Jul (2001 1200) jul (1.2001 (1.2001 10- 1,300 18001 11- 1,200 No Entry 1.200 (2001 2,350 (250) (100) 11.2001 Utilities Expense Service Revenue 4700*50% Supplies Expense 650-400 Interest Expense 20000*6*1/12 Rent Expense (250) Advertising Expense Service Revenue 2.500 1.300 (800) Sales Revenue Cost of Goods Sold Sales Revenue 1.200 (7003 (700) Cost of Goods Sold (250) 4 000 11.200 Salaries Expense 13- (250) 15- 4,000 15- 11.2001 21. 4.250 24 1.200 24-u! 1.700 15 hrs 520 2 weeks 2 4350 + 1.200 1,700 Service Revenue Sales Revenue Cost of Goods Sold (1.2001 (1.200) loco) 1650) (2.350) (2.475) 2,350 2,475 25-ul 26 Jul 28-ul 30-lul 11.2001 31.Jul 31-4 31- 31. Jul 1-Aug (600) (1.2001 (200) 200 (850) 350 (550) Service Revenue 4700-2350 Service Revenue 330075% Salaries Expense 15 hrs $20*2 weeks"2 Utilities Expense Service Revenue 4250*20% Supplies Bxpense 325 650-250-47 Interest Expense 200001/12 Sales Returns and Allowances Cost of Goods Sold Rent Expense (550) (100) 300 (6001 100 100 (1.2001 1.500 250 (250) 2.Aug 11.2003 -Aug (1.500) S. Aug 6 Aug Aug (2001 9. Aug 10 Aug 4,200 4,800 4,800 Utilities Expense Service Revenue (2001 5,000 5.000 4,200 Sales Revenue Con of Goods sold (3.7001 Toot) (4,000) (250) 10 Aug 4.000 13 A (250) 14-Aug 1.2001 16 Aug 19 Aug 1,00 1825) 11.2001 123 1,100 Salwiese 155202 weeks Service Revenue 3300-247 Sales Revenue Cost of Goods Sold Service Revenue 4250 20% Cool foon 1850) 850 21 Aug 23-Aug 5,000) 24-Aug 2.200 15.000) 2,200 Sales Revenue Cost of Goods Sold (1.700) (1.700) (1751 200 (1.100 (2001 27.Aug (975) 23-Aug (1.600) 31 A 31-Aug 31-A 31. A Totals 21,600 (2.550) 2.550 Salaries Expense 15hrs"$203 weeks 2 Utilities Expense Service Revenue 4250-850-850 Supplies Expense 600-325-1500 Interest Expense 20000*6%"1/12 (1,225) (1225 100 300 (1001 30,850 (20,275) 1,200 600 3.000 5,190 - 200 20.000 . 10,000 (1.625) B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers, sections, and totals. Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work. C. Bank Reconciliation Lidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance Bank Balance Deposits in transit Outstanding checks Bank charges Interest earned Health insurance auto-draft $28,600 $32,545 $3,400 $5,000, $1,800 and $975 $35 $55 $450 D. Long-Term Assets If Lidia is able to obtain the new loan, she is looking to purchase a company cargo van to help haul the merchandise inventory, as well as purchase her own container machine (a machine that makes containers so she can save on her own purchase cost). She has found the cargo van she wants to purchase, as well as the machine she'd like to buy, but wants to look ahead at which depreciation methods she should use that will help maximize the use of each, as well as increase the income after depreciation. Utilizing the information below, calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line, Units of Production, and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cent. Cargo Van Price Salvage value Useful life Total miles Yr 1 miles Yr 2 miles $26,000 $2,000 10 years 90,000 12,100 9,400 Machine Price Salvage value Useful life Total hours Yr 1 hours Yr 2 hours $48,000 $3,000 8 years 13,000 1,250 1,460 BONUS (worth 30 points - optional) E. Calculate Inventory It's been half a year and Lidia's business has really taken off. She secured her loan and has started accepting more clients, which in turn means more sales. To help with organization, she's started selling a lot more containers and baskets. Lidia has a large inventory of baskets that are all different sizes, but each unit is very similar in nature. She'd like to determine a better way to cost her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path. She has provided you with the information below and would like for you to calculate the cost of goods sold and ending inventory using all three cost allocation methods (FIFO, LIFO, and Weighted Average). Use the periodic method and be sure to show all of your work to ensure Lidia can make the best decision. Beginning Inventory Purchased in Sept. Purchase in Oct. Purchase in Nov. Totals (goods avail) Ending Inventory Number of units 500 600 650 700 2450 550 Cost per unit $40 45 40 35 Total $20,000 27,000 26,000 24,500 97,500 B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers, sections, and totals. Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work. C. Bank Reconciliation Lidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance Bank Balance Deposits in transit Outstanding checks Bank charges Interest earned Health insurance auto-draft $28,600 $32,545 $3,400 $5,000, $1,800 and $975 $35 $55 $450 D. Long-Term Assets If Lidia is able to obtain the new loan, she is looking to purchase a company cargo van to help haul the merchandise inventory, as well as purchase her own container machine (a machine that makes containers so she can save on her own purchase cost). She has found the cargo van she wants to purchase, as well as the machine she'd like to buy, but wants to look ahead at which depreciation methods she should use that will help maximize the use of each, as well as increase the income after depreciation. Utilizing the information below, calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line, Units of Production, and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cent. Cargo Van Price Salvage value Useful life Total miles Yr 1 miles Yr 2 miles $26,000 $2,000 10 years 90,000 12,100 9,400 Machine Price Salvage value Useful life Total hours Yr 1 hours Yr 2 hours $48,000 $3,000 8 years 13,000 1,250 1,460 BONUS (worth 30 points - optional) E. Calculate Inventory It's been half a year and Lidia's business has really taken off. She secured her loan and has started accepting more clients, which in turn means more sales. To help with organization, she's started selling a lot more containers and baskets. Lidia has a large inventory of baskets that are all different sizes, but each unit is very similar in nature. She'd like to determine a better way to cost her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path. She has provided you with the information below and would like for you to calculate the cost of goods sold and ending inventory using all three cost allocation methods (FIFO, LIFO, and Weighted Average). Use the periodic method and be sure to show all of your work to ensure Lidia can make the best decision. Beginning Inventory Purchased in Sept. Purchase in Oct. Purchase in Nov. Totals (goods avail) Ending Inventory Number of units 500 600 650 700 2450 550 Cost per unit $40 45 40 35 Total $20,000 27,000 26,000 24,500 97,500 ASSETS LIABILITIES OWNER'S EQUITY Date Cash Accts Rec Interest Par Unear Rev Supp Inven Capital + Equip Aucts Pay+ Rey EM Owner E B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers, sections, and totals. Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work. ASSETS LALITIES OWNERSEQUAT DateCa Acts Rec Su Accti Pay Interest Logo Book periya ading Tabular Summary MNR 09 * 'E) | 2.500 fool 2001 NET 1230 Lise Tatuar Sumary for June, July and August Asus Cwrity Account Notes Imerest Uneamed Retained Owners Explain Revenue or calculation Dute Cash Receivable Supplies tory Equipment Payable Payable Payable Raven Capital Earrings Neues - Expenses. Drawings Expense recorded 110.000 0.000 2-Jun (230) 1.2001 Rent Expense - 12.2001 1.00 - 503 - 20.000 20,000 20 1200 Awing pente 4700 4.700 12 1250) 15-Jun 12.500) 2.500 17 11850 LARS 2-un entry 25- 3.300 3.300 29 2200 1,200 30- 200 12001 Uties Expense olun 2.15 terve 4700 30 (250) 2507 Supplies Expense 650-400 - 1001 rest Expense 20000/ 1200 1.2001 Hent Expo Bul 1435) 250 250 Avertise 6- 2.56 Service Revue 7.1 12900 (200 S. 1200) (1200 10-1 1300 1100 Sales Revenue 300 Cost of God Sold II- 1200 L200 Sales Revenue 700 Cost of Goods Sold (250 ISM 14.000 4.000 15-2001) 10 weeks 2 4250 4.250 M 1.200 1.200 Service Revente 24 1.200 1.00 Sales Revenue 11.30 1.200 Cosef Good Sold 14501 1150 20-4 (2,150 2.15 Service Revenue 4700-2350 2M 241 Secvenue 3300 30- 11.2009 1.2001 Sales Expense M 200 12001 Expense Service Revue 43500 21- 15501 Supplies Expense 125-925-07 300 14.00 nege 2000 TV 1-dug 10000 Sales Returns and Allgemees 300 Cost of Goods Sold 11.2001 3 Aug 11.900 1.500 - 250 1250 Uties Expense 6.AR 4100 4.800 Service Rover 7. 1200 (200 9.aug 5.000 5.000 10- 4200 4.200 3.700 Cost of Goods Sold 1000 14,800 1) 1250) 250 14- 2.200 Santeste- S202 weeks 16- 21. 395 Seni Rue 1300-1425 15.00 13 Sales Revue 300 3001 Cost of Goods Sold 21- 150 Service U42020 27-Aug 15.000 (5.000 24 2.200 Svet IL 700 L 2007 Cost of Goods Sold 27.Aug 1975) 1975) 20-0) (1.000 States Expense=15920 3 weeks 314 200 (2001 Utilities Expense 2.550 Service revenue 1250-450-100 (1.225 11,225 Supplies Expenses 1500 21- 300 100 Inter Experte 200000/12 Totals 1200 3.900 5,150 200 20,00 MOO 30.01. (2275) 11.425 lol = looch lot 009 09 . 05806 Fie Away is a local Professional Organizing Company specializing in decuring you home, work, and living spaces. They offer consultation, coaching and hands-on services, as well as provide organizing products the folders, cortan, Isbel worksheets, baskets, and more Services can last anywhere from runt minuts hours, with both tua sendis home meetings available Products are valable online or the brick-and-mortar shop located in the Albuquerque Metro The company opened in June 2001 by owner Lidia Fe, who was they are trek She grew up organising her stuffed animals and begged her parents to buy her plastic containers to sort the rest of her toy in college. Her friends caled het Fle Cabinet Fle Foider because she was always to organized and had multiples for the coursework Now that she has her own business, she's looking to expand, but she needs some het in the accounting department. She entrated your help to proces some events that have occurred over the new months and to create some financial she to the bank for B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers actions, and total Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work C. Bank Reconciliation Lidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabula analysis for any adjustments required to reach the adjusted cash balance per books Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work Book Balance $28.000 Bank Balance $32.545 Deposits in transit 53.400 Outstanding checks $5.000,51.800 and 5975 Bank charges $35 Interest earned $55 Health insurance auto-craft $450 D. Long-Term Assets if Lidia is able to obtain the new loan she is looking to purchase a company cargova to help haul the merchandise inventory, as well as parchate her own container machine (a machine that makes containers so she can save on her own purchase cost She has found the cargo van she wants to purchase, as well as the machine sheet buy, but wants to look ahead at which depreciation methods she should use that help maximize the use of each as well as increase the income her depreciation Utilizing the information below. calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line Units of Production and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cant Cargo Van Price $26.000 Machine Price $48.000 Salvage value $2.000 Salvage value $3.000 Useful ile 10 years Use the years Totalmes 90.000 Total hours 15.000 Yr 1 miles 12.100 Yr 1 hours 1.250 Yr 2 miles 9.400 Yr 2 hours 1460 BONUS (worth 30 points - optional) E Calculate Inventory Is been half a you wid Lidia's business has really taken of She cured her and has started accepting more clients, which in tum means more salen. To help w organization she's started selling a lot more containers and baskets Lidia has a large She'd like to determine a better way to cool her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path She has provided you with the information below and would like for you to calculate the con of goods sold and ending inventory using all three cost location methods (FIFO UFO and Weighted Average). Use the periodic method and be sure to show all of your work to enture Lidia can make the best decision Number of units Cost per unit Tot Beginning inventory 500 $40 R0.000 Purchased in Sept 45 27000 Purchase in Oct 650 40 26.000 Purchase in Nov 24.500 TOAST poods Ending twentory 550 000 35 700 240 there are 5 photos for this problem, the last photo is Lidia's transactions that were recorded File Away is a local Professional Organizing Company, specializing in decluttering your home, work, and living spaces. They offer consultation, coaching, and hands-on services, as well as provide organizing products like folders, containers, labels, worksheets, baskets, and more. Services can last anywhere from thirty minutes to eight hours, with both virtual sessions and in-home meetings available. Products are available online or at the brick-and-mortar shop located in the Albuquerque Metro area. The company opened in June 2021 by owner Lidia File, who was always a neat freak. She grew up organizing her stuffed animals and begged her parents to buy her plastic containers to sort the rest of her toys. In college, her friends called her File Cabinet or File Folder because she was always so organized and had multiple files for all of her coursework. Now that she has her own business, she's looking to expand, but she needs some help in the accounting department. She's enlisted your help to process some events that have occurred over the last few months and to create some financial statements that she can take to the bank for a new loan. B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers, sections, and totals. Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work. C. Bank Reconciliation Lidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance Bank Balance Deposits in transit Outstanding checks Bank charges Interest earned Health insurance auto-draft $28,600 $32,545 $3,400 $5,000, $1,800 and $975 $35 $55 $450 D. Long-Term Assets If Lidia is able to obtain the new loan, she is looking to purchase a company cargo van to help haul the merchandise inventory, as well as purchase her own container machine (a machine that makes containers so she can save on her own purchase cost). She has found the cargo van she wants to purchase, as well as the machine she'd like to buy, but wants to look ahead at which depreciation methods she should use that will help maximize the use of each, as well as increase the income after depreciation. Utilizing the information below, calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line, Units of Production, and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cent Cargo Van Price $26,000 Machine Price $48,000 Salvage value $2,000 Salvage value $3,000 Useful life 10 years Useful life 8 years Total miles 90,000 Total hours 13,000 Yr 1 miles 12,100 Yr 1 hours 1,250 Yr 2 miles 9,400 Yr 2 hours 1,460 BONUS (worth 30 points - optional) E. Calculate Inventory It's been half a year and Lidia's business has really taken off. She secured her loan and has started accepting more clients, which in turn means more sales. To help with organization, she's started selling a lot more containers and baskets. Lidia has a large inventory of baskets that are all different sizes, but each unit is very similar in nature. She'd like to determine a better way to cost her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path. She has provided you with the information below and would like for you to calculate the cost of goods sold and ending inventory using all three cost allocation methods (FIFO, LIFO, and Weighted Average). Use the periodic method and be sure to show all of your work to ensure Lidia can make the best decision. Beginning Inventory Purchased in Sept. Purchase in Oct. Purchase in Nov. Totals (goods avail) Ending Inventory Number of units 500 600 650 700 2450 550 Cost per unit $40 45 40 35 Total $20,000 27,000 26.000 24,500 97,500 Tabular Summary MNR 09 * 'E) | 2.500 fool 2001 NET 1230 Lise Tatuar Sumary for June, July and August Asus Cwrity Account Notes Imerest Uneamed Retained Owners Explain Revenue or calculation Dute Cash Receivable Supplies tory Equipment Payable Payable Payable Raven Capital Earrings Neues - Expenses. Drawings Expense recorded 110.000 0.000 2-Jun (230) 1.2001 Rent Expense - 12.2001 1.00 - 503 - 20.000 20,000 20 1200 Awing pente 4700 4.700 12 1250) 15-Jun 12.500) 2.500 17 11850 LARS 2-un entry 25- 3.300 3.300 29 2200 1,200 30- 200 12001 Uties Expense olun 2.15 terve 4700 30 (250) 2507 Supplies Expense 650-400 - 1001 rest Expense 20000/ 1200 1.2001 Hent Expo Bul 1435) 250 250 Avertise 6- 2.56 Service Revue 7.1 12900 (200 S. 1200) (1200 10-1 1300 1100 Sales Revenue 300 Cost of God Sold II- 1200 L200 Sales Revenue 700 Cost of Goods Sold (250 ISM 14.000 4.000 15-2001) 10 weeks 2 4250 4.250 M 1.200 1.200 Service Revente 24 1.200 1.00 Sales Revenue 11.30 1.200 Cosef Good Sold 14501 1150 20-4 (2,150 2.15 Service Revenue 4700-2350 2M 241 Secvenue 3300 30- 11.2009 1.2001 Sales Expense M 200 12001 Expense Service Revue 43500 21- 15501 Supplies Expense 125-925-07 300 14.00 nege 2000 TV 1-dug 10000 Sales Returns and Allgemees 300 Cost of Goods Sold 11.2001 3 Aug 11.900 1.500 - 250 1250 Uties Expense 6.AR 4100 4.800 Service Rover 7. 1200 (200 9.aug 5.000 5.000 10- 4200 4.200 3.700 Cost of Goods Sold 1000 14,800 1) 1250) 250 14- 2.200 Santeste- S202 weeks 16- 21. 395 Seni Rue 1300-1425 15.00 13 Sales Revue 300 3001 Cost of Goods Sold 21- 150 Service U42020 27-Aug 15.000 (5.000 24 2.200 Svet IL 700 L 2007 Cost of Goods Sold 27.Aug 1975) 1975) 20-0) (1.000 States Expense=15920 3 weeks 314 200 (2001 Utilities Expense 2.550 Service revenue 1250-450-100 (1.225 11,225 Supplies Expenses 1500 21- 300 100 Inter Experte 200000/12 Totals 1200 3.900 5,150 200 20,00 MOO 30.01. (2275) 11.425 lol = looch lot 009 09 . 05806 there are 5 photos for this problem, the last photo is Lidia's transactions that were recorded File Away is a local Professional Organizing Company, specializing in decluttering your home, work, and living spaces. They offer consultation, coaching, and hands-on services, as well as provide organizing products like folders, containers, labels, worksheets, baskets, and more. Services can last anywhere from thirty minutes to eight hours, with both virtual sessions and in-home meetings available. Products are available online or at the brick-and-mortar shop located in the Albuquerque Metro area. The company opened in June 2021 by owner Lidia File, who was always a neat freak. She grew up organizing her stuffed animals and begged her parents to buy her plastic containers to sort the rest of her toys. In college, her friends called her File Cabinet or File Folder because she was always so organized and had multiple files for all of her coursework. Now that she has her own business, she's looking to expand, but she needs some help in the accounting department. She's enlisted your help to process some events that have occurred over the last few months and to create some financial statements that she can take to the bank for a new loan. D. Long-Term Assets If Lidia is able to obtain the new loan, she is looking to purchase a company cargo van to help haul the merchandise inventory, as well as purchase her own container machine (a machine that makes containers so she can save on her own purchase cost). She has found the cargo van she wants to purchase, as well as the machine she'd like to buy, but wants to look ahead at which depreciation methods she should use that will help maximize the use of each, as well as increase the income after depreciation. Utilizing the information below, calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line, Units of Production, and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cent. Cargo Van Price $26,000 Machine Price $48.000 Salvage value $2,000 Salvage value $3,000 Useful life 10 years Useful life 8 years Total miles 90,000 Total hours 13,000 Yr 1 miles 12,100 Yr 1 hours 1,250 Yr 2 miles 9,400 Yr 2 hours 1,460 BONUS (worth 30 points - optional) E. Calculate Inventory It's been half a year and Lidia's business has really taken off. She secured her loan and has started accepting more clients, which in turn means more sales. To help with organization, she's started selling a lot more containers and baskets. Lidia has a large inventory of baskets that are all different sizes, but each unit is very similar in nature. She'd like to determine a better way to cost her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path. She has provided you with the information below and would like for you to calculate the cost of goods sold and ending inventory using all three cost allocation methods (FIFO, LIFO, and Weighted Average). Use the periodic method and be sure to show all of your work to ensure Lidia can make the best decision. Beginning Inventory Purchased in Sept. Purchase in Oct. Purchase in Nov. Totals (goods avail) Ending Inventory Number of units 500 600 650 700 2450 550 Cost per unit $40 45 40 35 Total $20,000 27.000 26,000 24,500 97,500 Tabular Summary Owners Equity Retained Owners Explain Revenue or calculation Earnings + Revenues - Expenses. Drawings Expense Recorded Capital 10.000 (1.2003 Rent Expense (250) Advertising Expense Lidia Tabular Summary for June, July and August Assets Liabilties Accounts Accounts Notes Interest Uneamed. Date Cash Receivable Supplies Inventory Equipment = Payable Payable Payable Revenue 1-Jun 10,000 2-Jun 11.2001 3.Jun 13,300) 3.300 3-un (650) 650 4-Jun 20,000 20,000 5 Jun 250 7-Jun 4,700 4,700 + 13-un (250) (250) 15-Jun 12.500) 2.500 17- (1,850) 1.850 22-Jun 25.Jun 3,300 3.300. 29 1.200 30-un 200 30-Jun (2.350) 30 Jun (250) 30-un 100 2.Jul 11.2001 3-Jul (475) 475 5-lul 250 6-Jul 2.500 7-Jul (2001 1200) jul (1.2001 (1.2001 10- 1,300 18001 11- 1,200 No Entry 1.200 (2001 2,350 (250) (100) 11.2001 Utilities Expense Service Revenue 4700*50% Supplies Expense 650-400 Interest Expense 20000*6*1/12 Rent Expense (250) Advertising Expense Service Revenue 2.500 1.300 (800) Sales Revenue Cost of Goods Sold Sales Revenue 1.200 (7003 (700) Cost of Goods Sold (250) 4 000 11.200 Salaries Expense 13- (250) 15- 4,000 15- 11.2001 21. 4.250 24 1.200 24-u! 1.700 15 hrs 520 2 weeks 2 4350 + 1.200 1,700 Service Revenue Sales Revenue Cost of Goods Sold (1.2001 (1.200) loco) 1650) (2.350) (2.475) 2,350 2,475 25-ul 26 Jul 28-ul 30-lul 11.2001 31.Jul 31-4 31- 31. Jul 1-Aug (600) (1.2001 (200) 200 (850) 350 (550) Service Revenue 4700-2350 Service Revenue 330075% Salaries Expense 15 hrs $20*2 weeks"2 Utilities Expense Service Revenue 4250*20% Supplies Bxpense 325 650-250-47 Interest Expense 200001/12 Sales Returns and Allowances Cost of Goods Sold Rent Expense (550) (100) 300 (6001 100 100 (1.2001 1.500 250 (250) 2.Aug 11.2003 -Aug (1.500) S. Aug 6 Aug Aug (2001 9. Aug 10 Aug 4,200 4,800 4,800 Utilities Expense Service Revenue (2001 5,000 5.000 4,200 Sales Revenue Con of Goods sold (3.7001 Toot) (4,000) (250) 10 Aug 4.000 13 A (250) 14-Aug 1.2001 16 Aug 19 Aug 1,00 1825) 11.2001 123 1,100 Salwiese 155202 weeks Service Revenue 3300-247 Sales Revenue Cost of Goods Sold Service Revenue 4250 20% Cool foon 1850) 850 21 Aug 23-Aug 5,000) 24-Aug 2.200 15.000) 2,200 Sales Revenue Cost of Goods Sold (1.700) (1.700) (1751 200 (1.100 (2001 27.Aug (975) 23-Aug (1.600) 31 A 31-Aug 31-A 31. A Totals 21,600 (2.550) 2.550 Salaries Expense 15hrs"$203 weeks 2 Utilities Expense Service Revenue 4250-850-850 Supplies Expense 600-325-1500 Interest Expense 20000*6%"1/12 (1,225) (1225 100 300 (1001 30,850 (20,275) 1,200 600 3.000 5,190 - 200 20.000 . 10,000 (1.625) B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers, sections, and totals. Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work. C. Bank Reconciliation Lidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance Bank Balance Deposits in transit Outstanding checks Bank charges Interest earned Health insurance auto-draft $28,600 $32,545 $3,400 $5,000, $1,800 and $975 $35 $55 $450 D. Long-Term Assets If Lidia is able to obtain the new loan, she is looking to purchase a company cargo van to help haul the merchandise inventory, as well as purchase her own container machine (a machine that makes containers so she can save on her own purchase cost). She has found the cargo van she wants to purchase, as well as the machine she'd like to buy, but wants to look ahead at which depreciation methods she should use that will help maximize the use of each, as well as increase the income after depreciation. Utilizing the information below, calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line, Units of Production, and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cent. Cargo Van Price Salvage value Useful life Total miles Yr 1 miles Yr 2 miles $26,000 $2,000 10 years 90,000 12,100 9,400 Machine Price Salvage value Useful life Total hours Yr 1 hours Yr 2 hours $48,000 $3,000 8 years 13,000 1,250 1,460 BONUS (worth 30 points - optional) E. Calculate Inventory It's been half a year and Lidia's business has really taken off. She secured her loan and has started accepting more clients, which in turn means more sales. To help with organization, she's started selling a lot more containers and baskets. Lidia has a large inventory of baskets that are all different sizes, but each unit is very similar in nature. She'd like to determine a better way to cost her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path. She has provided you with the information below and would like for you to calculate the cost of goods sold and ending inventory using all three cost allocation methods (FIFO, LIFO, and Weighted Average). Use the periodic method and be sure to show all of your work to ensure Lidia can make the best decision. Beginning Inventory Purchased in Sept. Purchase in Oct. Purchase in Nov. Totals (goods avail) Ending Inventory Number of units 500 600 650 700 2450 550 Cost per unit $40 45 40 35 Total $20,000 27,000 26,000 24,500 97,500 B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers, sections, and totals. Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work. C. Bank Reconciliation Lidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance Bank Balance Deposits in transit Outstanding checks Bank charges Interest earned Health insurance auto-draft $28,600 $32,545 $3,400 $5,000, $1,800 and $975 $35 $55 $450 D. Long-Term Assets If Lidia is able to obtain the new loan, she is looking to purchase a company cargo van to help haul the merchandise inventory, as well as purchase her own container machine (a machine that makes containers so she can save on her own purchase cost). She has found the cargo van she wants to purchase, as well as the machine she'd like to buy, but wants to look ahead at which depreciation methods she should use that will help maximize the use of each, as well as increase the income after depreciation. Utilizing the information below, calculate the depreciation expense for the first two years using all three main depreciation methods (Straight-Line, Units of Production, and Double-Declining-Balance) for both the cargo van and the machine. Be sure to show your calculations. Round all dollar amounts to the nearest cent. Cargo Van Price Salvage value Useful life Total miles Yr 1 miles Yr 2 miles $26,000 $2,000 10 years 90,000 12,100 9,400 Machine Price Salvage value Useful life Total hours Yr 1 hours Yr 2 hours $48,000 $3,000 8 years 13,000 1,250 1,460 BONUS (worth 30 points - optional) E. Calculate Inventory It's been half a year and Lidia's business has really taken off. She secured her loan and has started accepting more clients, which in turn means more sales. To help with organization, she's started selling a lot more containers and baskets. Lidia has a large inventory of baskets that are all different sizes, but each unit is very similar in nature. She'd like to determine a better way to cost her basket inventory because her current method is causing too much loss and she cannot afford to continue down this path. She has provided you with the information below and would like for you to calculate the cost of goods sold and ending inventory using all three cost allocation methods (FIFO, LIFO, and Weighted Average). Use the periodic method and be sure to show all of your work to ensure Lidia can make the best decision. Beginning Inventory Purchased in Sept. Purchase in Oct. Purchase in Nov. Totals (goods avail) Ending Inventory Number of units 500 600 650 700 2450 550 Cost per unit $40 45 40 35 Total $20,000 27,000 26,000 24,500 97,500 ASSETS LIABILITIES OWNER'S EQUITY Date Cash Accts Rec Interest Par Unear Rev Supp Inven Capital + Equip Aucts Pay+ Rey EM Owner E B. Prepare Financial Statements Now that all of Lidia's transactions have been recorded, she needs you to prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. She will need to submit these financial statements to the bank to determine if she can secure more funding for a second location. Be sure to include proper headers, sections, and totals. Please note that all statements should be inclusive of all transactions that have occurred since the start of June. Use the provided templates to complete your work. ASSETS LALITIES OWNERSEQUAT DateCa Acts Rec Su Accti Pay Interest Logo Book periya ading
