Cash Payments Cash Receipts $18.200 149.000 Issue of common shares Fees earned Equipment Supplies Rent Insurance Income tax Advertising Salaries Dividends declared $ 37,000 7.900 21,150 3,840 6,600 6,700 56,700 10,800 $151,490 $167,200 Additional information: 1 2 3 4 Fees from design work earned but not yet collected amounted to $2,360 The equipment was purchased at the beginning of January and has an estimated six-year useful life. The company uses Straight-line depreciation Supplies on hand on December 31 were 51.210. Rent payments included a $1.580 per month rental fee and a 52.190 deposit that is refundable at the end of the two-year lease. (Hint: Use the Prepaid Rent account for the refundable deposit) The insurance was purchased on February 1 for a one-year period expiring January 31, 2022 Salaries earned for the last four days in December and to be paid in January 2022 amounted to $2,890. At year end it was determined that an additional $6.900 is owed for income tax 5. 6 7 Cash Payments Cash Receipts $18.200 149.000 Issue of common shares Fees earned Equipment Supplies Rent Insurance Income tax Advertising Salaries Dividends declared $ 37,000 7.900 21,150 3,840 6,600 6,700 56,700 10,800 $151,490 $167,200 Additional information: 1 2 3 4 Fees from design work earned but not yet collected amounted to $2,360 The equipment was purchased at the beginning of January and has an estimated six-year useful life. The company uses Straight-line depreciation Supplies on hand on December 31 were 51.210. Rent payments included a $1.580 per month rental fee and a 52.190 deposit that is refundable at the end of the two-year lease. (Hint: Use the Prepaid Rent account for the refundable deposit) The insurance was purchased on February 1 for a one-year period expiring January 31, 2022 Salaries earned for the last four days in December and to be paid in January 2022 amounted to $2,890. At year end it was determined that an additional $6.900 is owed for income tax 5. 6 7