Waith/AppData/local/Temp/Temp1_SF13eDG_Win%20(1).zip/Solid%20Footing%2013%20Fall/Book%20PDF%20files/04%20-%20Revenue, 2 + EAD Read aloud y Draw Torpresowym orary See more February's transactions and adjusting entry information are shown below. For each item make the required entry in the General Journal (See the General Ledger tab in the file Problem 4-1 Forms for the accounts OPJs accounting system.) Feb 01 Take $4,000 cash out of Big Bank to pay for February's warehouse rent. Feb 04 Feb 07 Feb 15 Sale of inventory to a customer-selling price $62,000 - cost of inventory sold $16,000 - customer paid cash which was deposited in Big Bank Take $10,000 cash out of Little Bank to pay employees for wages they have earned Sale of inventory to a customer-selling price $88.000 - cost of inventory sold $22,000 - customer will pay in the future Sale of inventory to a customer-selling price $110,000 - cost of inventory sold $28.000 - customer pays $40,000 cash which is deposited in Little Bank - customer will pay for the remaining amount of the sale in 30 days. Feb 18 Feb 22 Purchase additional inventory - pay $17,000 cash out of Big Bank for the inventory Feb 27 Take $23,000 cash out of Little Bank to pay employees for wages they have camed Adjust the Interest Payable Big Bank account to record the $600 of interest owed to Big Bank for February - interest will be paid in June. Feb 28 Feb 28 Adjust the Interest Payable Little Bank account to record the $450 of interest owed to Little Bank for February - Interest wll be paid in March. Requirement 2 Post the entries from the General Journal to the General Ledger accounts Requirement 3 Except for Retained Eamings, compute an ending balance for each General Ledger account. For Retained Earnings. place the current balance in the account Requirement 4 Prepare a Pre-Closing Trial Balance (Problem 4.1 continues on the next page) O 85% Problem 4-1 forms Protected in Home ner Page Layout Formas Da View PROTECTED VIEW Be carefulle tro the Internet can contain nises. Unless you need to edit, s safer to stay in Proced 0 PRODUKT NOICE Excel hasn't been activated. To keping Excel without interruption, actiwite before Wednesday, October 14, 2000 Fratile 1 X Name Section: # Problem 4-1 - Overpriced Jeans, Inc. Revenue and Expense Accounts General Journal Date Account Debit Credit General Journal General Ledger Trial and Income Stat RECSE and balance Sheet Type here to search o BU BP Esc Problem 4-1 Forms Protected View) - Excel Fue Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do O PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, safer to stay in Protected Vias Enable Editing Activate 0 PRODUCT NOTICE Excel hasn't been activated. To keep using Excel without interruption activate before Wednesday, October 14, 2020 C2 1 Liabilities + Assets Owners' Equity De Cash Big Bank 35,000 Dr Common Stock 75 000 Note Payable CI 65.000 Cr Dr Big Bank Beg Balance Beg Balance Beg Balance Ending Balance Ending Balance Road Ending Balance Dr Nofe Payable Little Bank Cr 60 000 Dr Earning 0 Cash Beg Balance Beg Balance DI Little Bank 20,000 Beg Balance Ending Balance Current Balance Sales Revenue Dr Interest Payable Big Bank 0 Ending Balance Dr Beg Balance Cr 0 Beg Balance Dr Accounts Receivable 0 Cr Ending Balance Beg Balance Ending Balance Interest Payable Little Bank Dr Cr Cost of Goods Sold 0 Beg Balance Dr Ending Balance Cr Beg Balance Ending Balance Dr Cr Inventory 85,000 Beg Balance Ending Balance General Journal General Ledger Tral Bal and income Stat RE Calc and Balance Sheet Ready o Type here to search Esc $ & 2 3 4 5 6 7 8 9 0 Waith/AppData/local/Temp/Temp1_SF13eDG_Win%20(1).zip/Solid%20Footing%2013%20Fall/Book%20PDF%20files/04%20-%20Revenue, 2 + EAD Read aloud y Draw Torpresowym orary See more February's transactions and adjusting entry information are shown below. For each item make the required entry in the General Journal (See the General Ledger tab in the file Problem 4-1 Forms for the accounts OPJs accounting system.) Feb 01 Take $4,000 cash out of Big Bank to pay for February's warehouse rent. Feb 04 Feb 07 Feb 15 Sale of inventory to a customer-selling price $62,000 - cost of inventory sold $16,000 - customer paid cash which was deposited in Big Bank Take $10,000 cash out of Little Bank to pay employees for wages they have earned Sale of inventory to a customer-selling price $88.000 - cost of inventory sold $22,000 - customer will pay in the future Sale of inventory to a customer-selling price $110,000 - cost of inventory sold $28.000 - customer pays $40,000 cash which is deposited in Little Bank - customer will pay for the remaining amount of the sale in 30 days. Feb 18 Feb 22 Purchase additional inventory - pay $17,000 cash out of Big Bank for the inventory Feb 27 Take $23,000 cash out of Little Bank to pay employees for wages they have camed Adjust the Interest Payable Big Bank account to record the $600 of interest owed to Big Bank for February - interest will be paid in June. Feb 28 Feb 28 Adjust the Interest Payable Little Bank account to record the $450 of interest owed to Little Bank for February - Interest wll be paid in March. Requirement 2 Post the entries from the General Journal to the General Ledger accounts Requirement 3 Except for Retained Eamings, compute an ending balance for each General Ledger account. For Retained Earnings. place the current balance in the account Requirement 4 Prepare a Pre-Closing Trial Balance (Problem 4.1 continues on the next page) O 85% Problem 4-1 forms Protected in Home ner Page Layout Formas Da View PROTECTED VIEW Be carefulle tro the Internet can contain nises. Unless you need to edit, s safer to stay in Proced 0 PRODUKT NOICE Excel hasn't been activated. To keping Excel without interruption, actiwite before Wednesday, October 14, 2000 Fratile 1 X Name Section: # Problem 4-1 - Overpriced Jeans, Inc. Revenue and Expense Accounts General Journal Date Account Debit Credit General Journal General Ledger Trial and Income Stat RECSE and balance Sheet Type here to search o BU BP Esc Problem 4-1 Forms Protected View) - Excel Fue Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do O PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, safer to stay in Protected Vias Enable Editing Activate 0 PRODUCT NOTICE Excel hasn't been activated. To keep using Excel without interruption activate before Wednesday, October 14, 2020 C2 1 Liabilities + Assets Owners' Equity De Cash Big Bank 35,000 Dr Common Stock 75 000 Note Payable CI 65.000 Cr Dr Big Bank Beg Balance Beg Balance Beg Balance Ending Balance Ending Balance Road Ending Balance Dr Nofe Payable Little Bank Cr 60 000 Dr Earning 0 Cash Beg Balance Beg Balance DI Little Bank 20,000 Beg Balance Ending Balance Current Balance Sales Revenue Dr Interest Payable Big Bank 0 Ending Balance Dr Beg Balance Cr 0 Beg Balance Dr Accounts Receivable 0 Cr Ending Balance Beg Balance Ending Balance Interest Payable Little Bank Dr Cr Cost of Goods Sold 0 Beg Balance Dr Ending Balance Cr Beg Balance Ending Balance Dr Cr Inventory 85,000 Beg Balance Ending Balance General Journal General Ledger Tral Bal and income Stat RE Calc and Balance Sheet Ready o Type here to search Esc $ & 2 3 4 5 6 7 8 9 0