TRANSACTIONIMr. U contributed 600,000Obtain loan 400,0003Purchased Inventory 200,000 cash basisPurchased Inventory 500,000 on account4.5Sold 900,000 on account. Cost of items is 400,000Paid accounts payable 400,0007Collected 500,000 accounts receivable6.8.purchased equipment 480,000 cash9.distributed cash to Mr. U 10,00010 paid loan interest 5,000Chart of AccountsCHART OF ACCOUNTSPrepare the following:1. Transaction Matrix2. Trial BalanceCODE Account Title101CASH102ACCOUNTS RECEIVABLE103INVENTORY3. Journal entries4. Leger104EQUIPMENT201ACCOUNTS PAYABLE202LOANU, DRAWINGSU, CAPITAL301302401SALES402COGS403INTEREST EXPENSE

Hi student Since there are multiple subparts, we will answer only first three subparts.

TRANSACTION IMr. U contributed 600,000 Obtain loan 400,000 3Purchased Inventory 200,000 cash basis 4. Purchased Inventory 500,000 on account [+] 5Sold 900,000 on account. Cost of items is 400,000 Paid accounts payable 400,000 7Collected 500,000 accounts receivable 6. purchased equipment 480,000 cash distributed cash to Mr. U 10,000 + 8 10 paid loan interest 5,000 Chart of Accounts CHART OF ACCOUNTS Prepare the following: 1. Transaction Matrix 2. Trial Balance CODE Account Title 101 CASH 102 ACCOUNTS RECEIVABLE 103 INVENTORY 3. Journal entries 104 EQUIPMENT

TRANSACTION IMr. U contributed 600,000 Obtain loan 400,000 3Purchased Inventory 200,000 cash basis 4. Purchased Inventory 500,000 on account [+] 5Sold 900,000 on account. Cost of items is 400,000 Paid accounts payable 400,000 7Collected 500,000 accounts receivable 6. purchased equipment 480,000 cash distributed cash to Mr. U 10,000 + 8 10 paid loan interest 5,000 Chart of Accounts CHART OF ACCOUNTS Prepare the following: 1. Transaction Matrix 2. Trial Balance CODE Account Title 101 CASH 102 ACCOUNTS RECEIVABLE 103 INVENTORY 3. Journal entries 104 EQUIPMENT

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 2E: Effect of transactions on cash flows State the effect (cash receipt or cash payment and amount) of...

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