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GRADED PROJECT Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be a minimum of one (1) single-spaced page to a maximum of two (2) pages in length; refer to the \"Assignment Format\" page for specific format requirements. Part A (40 points) Use the following information to complete the partial worksheet for Bill's Company. Record the appropriate adjusting entries using the data below and extend the balances over to the adjusted trial balance columns. Merchandise inventoryending $10 Store supplies on hand 3 Depreciation on store equipment 2 Accrued salaries 1 Bill's Company Partial Worksheet For the Year Ended December 31st, 2012 Account Titles Trial Balance Debit Merchandise Inv. 16 Store Supplies 10 Store Equipment 20 Accum. Depr. Store Equip. Credit Adjustments Debit Credit Adjusted Trial Balance Debit Credit 6 Salaries Payable Income Summary Salary Expense 10 Depreciation Expense Store Supplies Exp. PRINCIPLES OF ACCOUNTING 1 49 Part B (15 points each for a possible total of 60 points) The Bixby Co. had the following transactions involving the purchase of merchandise. Prepare the necessary general journal entries. Any applicable freight costs are prepaid by the seller. The perpetual inventory method is in use. June 16 Purchased merchandise having a price of $6,000 from the Shelby Manufacturing Co. on account with credit terms 10, n/30. Transportation terms F.O.B destination. June 16 Purchased merchandise having a price of $9,000 from the Ajax Supply House on account with credit terms 2/10, n/30. Transportation terms F.O.B shipping point. The freight costs were $175. June 17 Received the goods from Shelby. June 17 Received the goods from Ajax. June 20 Returned for credit merchandise with an invoice price of $800 to Ajax. June 25 Paid Shelby the amount owed. June 28 Paid Ajax the amount owed. June 30 Returned for cash, merchandise with an invoice price of $400 to Shelby. Prepare the necessary general journal entry for June 16, Purchased merchandise having a price of $6,000 from the Shelby Manufacturing Co. on account with credit terms 2/10, n/30. Transportation terms F.O.B destination. _____________________________________ __________ __________ _____________________________________ __________ __________ _____________________________________ __________ __________ Prepare the necessary general journal entry for June 17, Received the goods from Shelby. 50 _____________________________________ __________ __________ _____________________________________ __________ __________ _____________________________________ __________ __________ PRINCIPLES OF ACCOUNTING 1 Prepare the necessary general journal entry for June 25. _____________________________________ __________ __________ _____________________________________ __________ __________ _____________________________________ __________ __________ Prepare the necessary general journal entry for June 28. _____________________________________ __________ __________ _____________________________________ __________ __________ _____________________________________ __________ __________ PROJECT UPLOAD Once you've completed this assignment, login to the student portal at https://students.ashworthcollege.edu. To log in, you'll need the username and password that you received via email. From the Student Portal page, enter your username and password (Figure 1). Then click Login. Figure 1 PRINCIPLES OF ACCOUNTING 1 51 The Home or Dashboard page of the Student Portal displays. To access your courses, click Courses in the upper right-hand banner (Figure 2). Figure 2 Click on Lessons to access your My Courses page and navigate to the final segment of your program using the My Sites button on the top right of the My Courses page (Figure 3). Figure 3 52 PRINCIPLES OF ACCOUNTING 1 Click on Assignments under Quick Links on the left-hand navigation menu (Figure 4). Figure 4 Click on the link for your graded project under Assignment title in the center of your screen (Figure 5). Figure 5 PRINCIPLES OF ACCOUNTING 1 53 Click on the Browse button at the bottom of the page to locate and attach your finished project. When you have attached your file, check the Honor Pledge box to confirm that you're submitting your own work for the assignment. Then click Submit (Figure 6). Figure 6 You'll see a confirmation message that tells you your project has been successfully submitted to the school (Figure 7). Figure 7 54 PRINCIPLES OF ACCOUNTING 1