Transaction A: On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $24,000 in exchange for shares of stock. A few of their friends also purchased stock for $12,000 that was deposited in The Wire account.

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Transaction B:

The company quickly acquired $37,000 in inventory, 70% of which was acquired on open accounts that were payable after 30 days. The rest was paid for in cash.

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Transaction C:

A one-year store rental lease was signed on March 1 for $1,200 per month and rent for the first 2 months was paid in advance. [Note: Record the complete entry for the March 1 transaction first and the complete adjusting entry on March 31 second.]

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Transaction D:

The owners paid $3,500 for website advertising. They were able to get a good deal because one of the company's owners also owns stock in the website company. The owners also paid $7,000 for some advertising in local newspapers. [Note: Combine both transactions into one entry].

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Transaction E:

Sales were $72,000. Cost of merchandise sold was 70% of sales. 30% of sales were for cash. [Note: Record the complete entry for the sales first and the complete entry for the expenses second]

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Transaction F

Wages and salaries in March were $10,300, of which $8,400 was actually paid to employees.

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Transaction G

Miscellaneous expenses were $1,300, all paid for with cash.

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Transaction H

On March 1, fixtures and equipment were purchased for $4,500 with a down-payment of $1,000 and a $3,500 note, payable in one year. Interest of 4% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 10 years with no expected salvage value. [Note: Record the complete entry for the March 1 equipment purchase first, the March 31 depreciation adjusting entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.]

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Account: ___________ Dollar Amount: ____________

Please help - refer to the picture on top for account choices! Thank you.

Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount: Account: Dollar amount: Submit Ans