you choose will be the values used to populate the income statement and balance sheet tabs Adjusted ONE PRODUCT CORP Trial Balance January 31, 2018 Account Title Debit Credit Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Rent Vehicles Accumulated Depreciation-Vehicles Accounts Payable Salaries and Wages Payable Withheld Income Taxes Payable FICA Payable Unemployment Tax Payable Sales Tax Payable Income Tax Payable Deferred Revenue Notes Payable (short-term) Notes Payable (long-term) Bonds Payable Discount on Bonds Payable Common Stock Additional Paid-In Capital, Common Stock Retained Earnings Treasury Stock Sales Revenue Cost of Goods Sold Rad Debt. Fxnense 104,544 28,676 574 1,157 60 9,000 360 4,200 1,600 500 600 400 1,845 4,220 750 22,300 22,300 93,000 8,866 14,000 19,295 6,710 1,600 34,500 15,523 624 4,220 750 Tax Payable ncome Deferred Revenue Notes Payable (short-term) Notes Payable (long-term) Bonds Payable 22,300 22,300 93,000 scount on Bonds Payable Common Stock Additional Paid-In Capital, Common Stock Retained Earnings Treasury Stock Sales Revenue Cost of Goods Sold Bad Debt Expense Depreciation Expense Interest Expense Payroll Tax Expense Rent Expense Salaries and Wages Expense Loss on Disposal of PPE Income Tax Expense Dividends 8,866 14,000 19,295 6,710 1,600 34,500 15,523 624 590 92 400 1,600 4,000 1,590 4,220 3,250 206,502$ Total 206,444 Income Statement General Ledger One Product Corp. (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of operations, were Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Sales Tax Pavable $19,540 8,260 915 12,480 1,660 28,600 2,760 500 600 500 1,600 300 4,500 502 22,300 14,000 19,295 6,710 4,000 FICA Payable Withheld Income Taxes Payable Salaries and Wages Payable Unemployment Tax Payable Deferred Revenue Interest Payable Note Payable (long-term) Common Stock Additional Paid-In Capital, Common Retained Earnings Treasury Stock The following information is relevant to the first month of operations in the following year: OPC sells its inventory at $150 per unit, plus sales tax of 6%. OPC's January 1 inventory balance consists of 180 units at a total cost of $12,480. OPC's policy is to use the FIFO method, recorded using a perpetual inventory system .The $1,660 in Prepaid Rent relates to a payment made in December for January rent this year . The equipment was purchased on July 1 of last year. It has a residual value of $1,000 and an expected life of five years. It is being depreciated using the straight-line method .Employee wages are $4,000 per month. Employees are paid on the 16th for the first half of the month and on thee first day of the following month for the second half of each month. Withholdings each pay period include $250 of income taxes and $150 of FICA taxes. These withholdings and the employer's matching contribution are paid monthly on the second day of the following month. In addition, unemployment taxes of $50 are accrued each pay period, and will be paid on March 31. . Deferred Revenue is for 30 units ordered and paid for in advance by two customers in late December. One order of 25 units is to be filled in January, and the other will be filled in February . Notes Payable arises from a three-year, 9 percent bank loan received on October 1 last year . The par value on the common stock is $2 per share Treasury Stock arises from the reacquisition of 500 shares at a cost of $8 per share a. On 1/01, OPC paid employees' salaries and wages that were previously accrued on December 31 b. A truck is purchased on 1/02 for $9,000 cash. It is estimated this vehicle will be used for 50,000 miles, after which it will have no residual value c. Payroll withholdings and employer contributions for December are remitted on 1/03 d OPC declares a $0.50 cash dividend on each share of common stock on 1/04, to be paid on 1/10 e. A $965 customer account is written off as uncollectible on 1/05 f On 1/06, recorded sales of 175 units of inventory on account. Sales tax is charged but not yet collected or remitted to the statee g. Sales taxes of $500 that had been collected and recorded in December are paid to the state on 1/07. h On 1/08, OPC issued 300 shares of treasury stock for $2,400 . Collections from customers on account, totaling $11,214, are recorded on 1/09 j On 1/10, OPC distributes the $0.50 cash dividend declared on January 4. The company's stock price is currently $5 per share k. OPC purchases on account and receives 70 units of inventory on 1/11 for $4,200 L. The equipment purchased last year for $28,600 is sold on 1/15 for $27,200 cash. Record depreciation for the first half of January prior to recording the equipment disposal m Payroll for January 1-15 is recorded and paid on 1/16. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes n. Having sold the equipment, OPC pays off the note payable in full on 1/17. The amount paid is $22,894, which includes interest accrued in December and an additional $92 interest through January 17. o. On 1/27, OPC records sales of 30 units of inventory on account. Sales tax is charged but not yet collected or remitted p. A portion of the advance order from December (25 units) is delivered on 1/29. No sales tax is collected on this transaction because the customer is a U.S. governmental organization that is exempt from sales tax. q. To obtain funds for purchasing new equipment, OPC issued bonds on 1/30 with a total face value of $93,000, stated interest rate of 5 percent, annual compounding, and six-year maturity date. OPC received $84,134 from the bond issuance, which implies a market interest rate of 7 percent. r. On 1/31, OPC records units-of-production depreciation on the vehicle (truck), which was driven 2,000 miles this month S. OPC estimates that 2% of the ending accounts receivable balance will be uncollectible. Adjust the applicable accounts on 1/31, using the allowance method t On 1/31, adjust for January rent expired u. Accrue January 31 payroll on 1/31, which will be payable on February 1. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes v Accrue OPC's corporate income taxes on 1/31, estimated to be $4,220 Statement of General Journal General Ledger Income Statement Stockholders Requirement Trial Balance Balance SheetAnalysis Equity Income Statement of Statement Stockholders General Requirement General Trial Balance Balance Sheet Analysis Journal Equ Use the dropdowns to select the accounts properly included on the classified balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection ed Adjusted ONE PRODUCT CORP. Balance Sheet At January 31 ces 3,460 3,460 3,460 Statement of Stockholders Equity Analysis > you choose will be the values used to populate the income statement and balance sheet tabs Adjusted ONE PRODUCT CORP Trial Balance January 31, 2018 Account Title Debit Credit Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Rent Vehicles Accumulated Depreciation-Vehicles Accounts Payable Salaries and Wages Payable Withheld Income Taxes Payable FICA Payable Unemployment Tax Payable Sales Tax Payable Income Tax Payable Deferred Revenue Notes Payable (short-term) Notes Payable (long-term) Bonds Payable Discount on Bonds Payable Common Stock Additional Paid-In Capital, Common Stock Retained Earnings Treasury Stock Sales Revenue Cost of Goods Sold Rad Debt. Fxnense 104,544 28,676 574 1,157 60 9,000 360 4,200 1,600 500 600 400 1,845 4,220 750 22,300 22,300 93,000 8,866 14,000 19,295 6,710 1,600 34,500 15,523 624 4,220 750 Tax Payable ncome Deferred Revenue Notes Payable (short-term) Notes Payable (long-term) Bonds Payable 22,300 22,300 93,000 scount on Bonds Payable Common Stock Additional Paid-In Capital, Common Stock Retained Earnings Treasury Stock Sales Revenue Cost of Goods Sold Bad Debt Expense Depreciation Expense Interest Expense Payroll Tax Expense Rent Expense Salaries and Wages Expense Loss on Disposal of PPE Income Tax Expense Dividends 8,866 14,000 19,295 6,710 1,600 34,500 15,523 624 590 92 400 1,600 4,000 1,590 4,220 3,250 206,502$ Total 206,444 Income Statement General Ledger One Product Corp. (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of operations, were Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Sales Tax Pavable $19,540 8,260 915 12,480 1,660 28,600 2,760 500 600 500 1,600 300 4,500 502 22,300 14,000 19,295 6,710 4,000 FICA Payable Withheld Income Taxes Payable Salaries and Wages Payable Unemployment Tax Payable Deferred Revenue Interest Payable Note Payable (long-term) Common Stock Additional Paid-In Capital, Common Retained Earnings Treasury Stock The following information is relevant to the first month of operations in the following year: OPC sells its inventory at $150 per unit, plus sales tax of 6%. OPC's January 1 inventory balance consists of 180 units at a total cost of $12,480. OPC's policy is to use the FIFO method, recorded using a perpetual inventory system .The $1,660 in Prepaid Rent relates to a payment made in December for January rent this year . The equipment was purchased on July 1 of last year. It has a residual value of $1,000 and an expected life of five years. It is being depreciated using the straight-line method .Employee wages are $4,000 per month. Employees are paid on the 16th for the first half of the month and on thee first day of the following month for the second half of each month. Withholdings each pay period include $250 of income taxes and $150 of FICA taxes. These withholdings and the employer's matching contribution are paid monthly on the second day of the following month. In addition, unemployment taxes of $50 are accrued each pay period, and will be paid on March 31. . Deferred Revenue is for 30 units ordered and paid for in advance by two customers in late December. One order of 25 units is to be filled in January, and the other will be filled in February . Notes Payable arises from a three-year, 9 percent bank loan received on October 1 last year . The par value on the common stock is $2 per share Treasury Stock arises from the reacquisition of 500 shares at a cost of $8 per share a. On 1/01, OPC paid employees' salaries and wages that were previously accrued on December 31 b. A truck is purchased on 1/02 for $9,000 cash. It is estimated this vehicle will be used for 50,000 miles, after which it will have no residual value c. Payroll withholdings and employer contributions for December are remitted on 1/03 d OPC declares a $0.50 cash dividend on each share of common stock on 1/04, to be paid on 1/10 e. A $965 customer account is written off as uncollectible on 1/05 f On 1/06, recorded sales of 175 units of inventory on account. Sales tax is charged but not yet collected or remitted to the statee g. Sales taxes of $500 that had been collected and recorded in December are paid to the state on 1/07. h On 1/08, OPC issued 300 shares of treasury stock for $2,400 . Collections from customers on account, totaling $11,214, are recorded on 1/09 j On 1/10, OPC distributes the $0.50 cash dividend declared on January 4. The company's stock price is currently $5 per share k. OPC purchases on account and receives 70 units of inventory on 1/11 for $4,200 L. The equipment purchased last year for $28,600 is sold on 1/15 for $27,200 cash. Record depreciation for the first half of January prior to recording the equipment disposal m Payroll for January 1-15 is recorded and paid on 1/16. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes n. Having sold the equipment, OPC pays off the note payable in full on 1/17. The amount paid is $22,894, which includes interest accrued in December and an additional $92 interest through January 17. o. On 1/27, OPC records sales of 30 units of inventory on account. Sales tax is charged but not yet collected or remitted p. A portion of the advance order from December (25 units) is delivered on 1/29. No sales tax is collected on this transaction because the customer is a U.S. governmental organization that is exempt from sales tax. q. To obtain funds for purchasing new equipment, OPC issued bonds on 1/30 with a total face value of $93,000, stated interest rate of 5 percent, annual compounding, and six-year maturity date. OPC received $84,134 from the bond issuance, which implies a market interest rate of 7 percent. r. On 1/31, OPC records units-of-production depreciation on the vehicle (truck), which was driven 2,000 miles this month S. OPC estimates that 2% of the ending accounts receivable balance will be uncollectible. Adjust the applicable accounts on 1/31, using the allowance method t On 1/31, adjust for January rent expired u. Accrue January 31 payroll on 1/31, which will be payable on February 1. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes v Accrue OPC's corporate income taxes on 1/31, estimated to be $4,220 Statement of General Journal General Ledger Income Statement Stockholders Requirement Trial Balance Balance SheetAnalysis Equity Income Statement of Statement Stockholders General Requirement General Trial Balance Balance Sheet Analysis Journal Equ Use the dropdowns to select the accounts properly included on the classified balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection ed Adjusted ONE PRODUCT CORP. Balance Sheet At January 31 ces 3,460 3,460 3,460 Statement of Stockholders Equity Analysis >