this project may be completed with excel, the t-account tool

the format can be in Excel or by using the attached.

a. c. e. Note: This project may be completed with Excel, The T-Account Tool or manually. It is an independent assignment. 1. Record the following entries for year 1: The corporation sells $55,000 of stock (1,000 shares). b. The corporation pays $6,000 for a six-year lease. The corporation purchases $1,700 of supplies for cash. d. The corporation buys $10,600 of inventory on account. The corporation buys $5,000 of equipment for $3,000 cash and $2,000 notes payable. f. The corporation pays the vendor bill in (d). g. The corporation buys $4,500 of inventory on account again. h. The corporation pays the stockholders $3,000 for dividends. i. The corporation has cash sales of $18,000 and credit sales of $2,000. The inventory cost is $9,000. j. The corporation pays $200 for consulting expense. k. The corporation pays $300 for advertising expense. 1. The corporation pays $2,200 for salaries expense. m. The corporation pays $250 for utilities expense. The corporation has $700 of supplies left. The corporation used one year of the lease. p. The equipment "wore out" by $500. 4. The corporation owes (hasn't paid yet) interest of $100 for the notes payable. The company is in a 10% tax bracket and accrues now for taxes it will pay later. n. 0. T. Arial 10 A- A- = Wrap Text Number Copy B I U 3 Format Merge & Center Conditional Format Formatting as Table S40 X B D E F G H 1 K M N o P R Aasta . 1 2 3 Cash Pre-Paid Rent Liabilities Accounts Payable Owner's Equity Stock Uries Expanse Depreciation Exp 4 5 6 T 9 10 Invertory Supplies Interest Payable Dividends Corsuing Experises Supplies Expanse 12 13 14 15 16 17 18 19 20 21 22 23 Accounts Receivable reme Tax Payable Sales Advertising Expenses interest Expense 25 Acum Depreciation 26 27 28 20 30 3 33 23 34 30 30 Notes Payable COGS Sperre Income Tax Expense 41 4 Renta 4 51