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M2 Project wVU MIX Username: Shareholders' Equity Diagnostic Check: Assets Liabilities Do you intend to major in one of the College of Business and Economic's majors Account AL+ SE Amount Account Amount Account Amount $ 99,000 Notes Payable 495 Interest Payable $111,000 Stock 2,574 Retained Earnings Balance Sheet at April 30: $ 76,669 Cash 5,500 Inventory 132,000 Equiprment (1,100) Accumulated Depreciation 7. Amounts in US $ During May, its second month of business, Karry no Key, Inc.: 5/1 5/1 Per Unit Total True 9. Purchased 300 karaoke machines on account 33,000 10 Paid for six months of insurance in advance; coverage that begins May 1 3,300 True 11 12 sold 320 karaoke machines on account: 13 May Record the sale 154.00 14 Record the cost of the sale True During Collected cash from customers from sales made on account 15 May 5/31 5/31 19 44,352 16 True 17 Paid for inventory purchased on account Declared and paid cash dividend to its shareholders Adjusted for insurance used during the month Adjusted for depreciation on equipment (hint: refer to P1 for estimated life of equipment) Adjusted for wages owed that will be paid in the first week of June Adjusted for interest owed on the 6%, 3-month bank loan; interest and principal due on June 30 19,800 True 18 1,045 True A1 True A2 20 A3 True 1,386 A4 True 495 True Column Totals 213,069 99,495 113,574 True Chart of Accounts: Accounts Payable Accounts Receivable Accumulated Depreciation Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Insurance Expense Interest Expense Instructions Journal Statements ady

M2 Project wVU MIX Username: Shareholders' Equity Diagnostic Check: Assets Liabilities Do you intend to major in one of the College of Business and Economic's majors Account AL+ SE Amount Account Amount Account Amount $ 99,000 Notes Payable 495 Interest Payable $111,000 Stock 2,574 Retained Earnings Balance Sheet at April 30: $ 76,669 Cash 5,500 Inventory 132,000 Equiprment (1,100) Accumulated Depreciation 7. Amounts in US $ During May, its second month of business, Karry no Key, Inc.: 5/1 5/1 Per Unit Total True 9. Purchased 300 karaoke machines on account 33,000 10 Paid for six months of insurance in advance; coverage that begins May 1 3,300 True 11 12 sold 320 karaoke machines on account: 13 May Record the sale 154.00 14 Record the cost of the sale True During Collected cash from customers from sales made on account 15 May 5/31 5/31 19 44,352 16 True 17 Paid for inventory purchased on account Declared and paid cash dividend to its shareholders Adjusted for insurance used during the month Adjusted for depreciation on equipment (hint: refer to P1 for estimated life of equipment) Adjusted for wages owed that will be paid in the first week of June Adjusted for interest owed on the 6%, 3-month bank loan; interest and principal due on June 30 19,800 True 18 1,045 True A1 True A2 20 A3 True 1,386 A4 True 495 True Column Totals 213,069 99,495 113,574 True Chart of Accounts: Accounts Payable Accounts Receivable Accumulated Depreciation Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Insurance Expense Interest Expense Instructions Journal Statements ady

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please fill out remanding yellow cells that have nothing in them. If blurry, please zoom in, its clear. 

Nicolas Caldw O Search M2 P - Excel AutoSave O on A 2 E AutoSum - Formulas Data Review View Help File Home Insert Page Layout Good Normal Bad Fill - Sort & Find & Filter Select - An X Cut 11 A A シ。 2b Wrap Text General Insert Delete Format O Clear Calculation Check Cell Calibri Conditional Format as Neutral B Copy - 24 Ап BIU A- a- A- EEE EE E Merge & Center Formatting - Table- Editing Paste Cells Format Painter Styles Alignment Number Font Clipboard C3 fr G H F A. 1 M2 Project WVU MIX Username: Diagnostic Check: A=L+ SE Liabilities Shareholders' Equity Assets 3 Do you intend to major in one of the College of Business and Economic's majors? Account Amount Account Account Amount Amount $ 99,000 Notes Payable 495 Interest Payable $111,000 Stock 2,574 Retained Earnings Balance Sheet at April 30: $ 76,669 Cash 5,500 Inventory 132,000 Equipment (1,100) Accumulated Depreciation 6 Amounts in US $ 7 8 During May, its second month of business, Karry no Key, Inc.: Per Unit Total True 33,000 Purchased 300 karaoke machines on account 5/1 Paid for six months of insurance in advance; coverage that begins May 1 9 5/1 10 3,300 True 11 12 During Sold 320 karaoke machines on account: 13 May Record the sale 154.00 14 Record the cost of the sale True 15 During Collected cash from customers from sales made on account 44,352 16 May 5/3) True Paid for inventory purchased on account Declared and paid cash dividend to its shareholders Adjusted for insurance used during the month Adjusted for depreciation on equipment (hint: refer to P1 for estimated life of equipment) Adjusted for wages owed that will be paid in the first week of June Adjusted for interest owed on the 6%, 3-month bank loan; interest and principal due on 17 19,800 True 18 5/31 1,045 True 19 A1 True A2 20 True A3 1,386 A4 True June 30 495 True Column Totals 213,069 99,495 113,574 True Chart of Accounts: Accounts Payable Accounts Receivable Accumulated Depreciation Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Insurance Expense Interest Expense Instructions Journal Statements eady P Type here to search 曲 Rain to stop F-J F6 FO 110 F1 F12 ND TAB CO Spr APO NTER OTRI
Transcribed Image Text:Nicolas Caldw O Search M2 P - Excel AutoSave O on A 2 E AutoSum - Formulas Data Review View Help File Home Insert Page Layout Good Normal Bad Fill - Sort & Find & Filter Select - An X Cut 11 A A シ。 2b Wrap Text General Insert Delete Format O Clear Calculation Check Cell Calibri Conditional Format as Neutral B Copy - 24 Ап BIU A- a- A- EEE EE E Merge & Center Formatting - Table- Editing Paste Cells Format Painter Styles Alignment Number Font Clipboard C3 fr G H F A. 1 M2 Project WVU MIX Username: Diagnostic Check: A=L+ SE Liabilities Shareholders' Equity Assets 3 Do you intend to major in one of the College of Business and Economic's majors? Account Amount Account Account Amount Amount $ 99,000 Notes Payable 495 Interest Payable $111,000 Stock 2,574 Retained Earnings Balance Sheet at April 30: $ 76,669 Cash 5,500 Inventory 132,000 Equipment (1,100) Accumulated Depreciation 6 Amounts in US $ 7 8 During May, its second month of business, Karry no Key, Inc.: Per Unit Total True 33,000 Purchased 300 karaoke machines on account 5/1 Paid for six months of insurance in advance; coverage that begins May 1 9 5/1 10 3,300 True 11 12 During Sold 320 karaoke machines on account: 13 May Record the sale 154.00 14 Record the cost of the sale True 15 During Collected cash from customers from sales made on account 44,352 16 May 5/3) True Paid for inventory purchased on account Declared and paid cash dividend to its shareholders Adjusted for insurance used during the month Adjusted for depreciation on equipment (hint: refer to P1 for estimated life of equipment) Adjusted for wages owed that will be paid in the first week of June Adjusted for interest owed on the 6%, 3-month bank loan; interest and principal due on 17 19,800 True 18 5/31 1,045 True 19 A1 True A2 20 True A3 1,386 A4 True June 30 495 True Column Totals 213,069 99,495 113,574 True Chart of Accounts: Accounts Payable Accounts Receivable Accumulated Depreciation Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Insurance Expense Interest Expense Instructions Journal Statements eady P Type here to search 曲 Rain to stop F-J F6 FO 110 F1 F12 ND TAB CO Spr APO NTER OTRI
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