Can some please check my journal and make sure it is right? Stockholders Equity>LegalExpensesPayableLegalExpensePayableSuppliesExpenseAdvertising UtilitiesserviceIndirectDividendNotes Pay UnearnedCommonRetainedPaid InDividendPayableStockEarningsCapital inExcess ofMaterialspayableRevenuePayableCostPAR1000001500036000-800185023005000-5000150015005000025000-30003000120 Assets>Liabilities>Acts PayDepreciatio Accumulate Discountn - Factory dEquipment depreciatioCashAccts Rec PrepaidSuppRawWork inFactoryOverheadFinishedFactoryEquipmentPrepaidFactoryIndirectInsurRentMaterialsProgressGoodswageswagespayablepayablen1/1 Ray incorporated B&C Inc andinvested $100,000 in exchange for100,000 shares of $1 par commonstock.1000001/1 Paid $9,000 for the first 6months of rent (Jan-June) on aproduction facility.-900090001/1 Paid $4,200 for an insurancepremium on a one-year policy.-420042001/1 Purchased a $15,000 piece offactory equipment with a 3% NotePayable which will be paid in full atthe end of 2 years. This equipmenthas an estimated life of 5 years and15000200-200an estimated residual value of$3,000.1/2 Purchased $600 of suppliesfrom Office Hoard Corp onaccount with terms 2/10, n/30.600-6001/3 Purchased $50,000 of rawmaterials from Chemical Supply Incon account50000-500001/5 Requisitioned $10,000 of rawmaterials to begin working on Job A(a batch of doodads) and another$7,000 of raw materials to beginworking on Job B.-17000170001/8 Paid off account with Office-58858812Hoard Corp with cash.1/10 Incurred $2,500 worth of directlabor costs while working on Job Aand another $1,800 of direct laborwent to Job B.4300-43001/11 Allocated $5,000 worth offactory overhead (based on apreviously calculated rate) to Job Aand $3,600 is allocated to Job B.8600-86001/13 Job A was completed.-17500175001/16 Job A was sold for $36,000 toRetail Corp on account with FOBdestination terms.360001/17 Paid $800 for delivery chargesfor Job A.-8001/20 Incurred (but did not pay)factory overhead costs as follows:indirect wages, $4,200; indirectmaterials, $1,850; utilities, $2,300.835042001/23 Paid all previously incurredwages with cash.-8500-4300-42001/28 Paid $5,000 for advertisingservices with cash.-50001/30 Incurred $1,500 of legalexpenses which will be paid onFebruary 10th.1/30 Received $10,000 from RetailCorp to partially pay off theiraccount.10000-100001/30 B&C Inc issued 50,000 sharesof $1 par common stock inexchange for $75,000 from Elizabeth(a new investor).750001/31 Paid $25,000 to ChemicalSupply Inc to partially pay off theaccount.-25000250001/31 Announced a $3,000 cashdividend which will be distributed onFebruary 5th.1/31 There are $120 of supplies on120hand.Balances

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Accts Rec Prepaid Insur Factory Overhead Goods Cash Supp Raw Finished Factory Equipment Acts Pay Depreciatio Accumulate Discount Factory wages payable Indirect Prepaid Rent Work in Materials Progress n- Factory d Equipment depreciatio wages payable 1/1 Ray incorporated B&C Inc and invested $100,000 in exchange for 100,000 shares of $1 par common 100000 stock. 1/1 Paid $9,000 for the first 6 months of rent (Jan-June) on a production facility. -9000 9000 1/1 Paid $4,200 for an insurance premium on a one-year policy. -4200 4200 1/1 Purchased a $15,000 piece of factory equipment with a 3% Note Payable which will be paid in full at the end of 2 years. This equipment has an estimated life of 5 years and an estimated residual value of 15000 200 -200 $3,000. 1/2 Purchased $600 of supplies from Office Hoard Corp on account with terms 2/10, n/30. 600 -600 1/3 Purchased $50,000 of raw 50000 -50000 materials from Chemical Supply Inc account 1/5 Requisitioned $10,000 of raw materials to begin working on Job A (a batch of doodads) and another $7,000 of raw materials to begin working on Job B. -17000 17000 1/8 Paid off account with Office Hoard Corp with cash. -588 588 12 1/10 Incurred $2,500 worth of direct labor costs while working on Job A and another $1,800 of direct labor went to Job B. 4300 -4300 1/11 Allocated $5,000 worth of factory overhead (based on a previously calculated rate) to Job A and $3,600 is allocated to Job B. 8600 -8600 1/13 Job A was completed. -17500 17500 1/16 Job A was sold for $36,000 to Retail Corp on account with FOB destination terms. 36000 1/17 Paid $800 for delivery charges for Job A -800 1/20 Incurred (but did not pay) factory overhead costs as follows: indirect wages, $4,200; indirect materials, $1,850; utilities, $2,300. 8350 4200 1/23 Paid all previously incurred wages with cash. -8500 -4300 -4200 1/28 Paid $5,000 for advertising services with cash. -5000 1/30 Incurred $1,500 of legal expenses which will be paid on February 10th. 1/30 Received $10,000 from Retail Corp to partially pay off their account. 10000 -10000 1/30 B&C Inc issued 50,000 shares of $1 par common stock in exchange for $75,000 from Elizabeth (a new investor). 75000 1/31 Paid $25,000 to Chemical -25000 25000 Supply Inc to partially pay off the account. 1/31 Announced a $3,000 cash dividend which will be distributed on February 5th. 1/31 There are $120 of supplies on hand. 120