AutoSave ANY C Home Insert Draw Page Layout Formulas Data Review View Automate ✗Cut Calibri (Body) v 11 V A A 三三三 ab Wrap Text v General Copy Paste Format C2 BIU Xfx blr00013 く V A Merge & Center $ V % A 1 M1 Project 23 B C D Enter WVU eCampus Username bir00013 E F MP1 Saved く →0 G Σ Autosum V く V く Fillv Conditional Format Formatting as Table Cell Styles Insert Delete Format Clear v Sort & Filter H J K Projects are your own work. It is academic dishonesty to work with others on this project. ABSOLUTELY DO NOT INSERT/DELETE ANY CELLS, ROWS OR COLUMNS IN THIS WORKBOOK; DOING SO WILL RESULT IN A SCORE OF 0. Assets Cash Amount 4 7 56589 5 During April, its first month of business, Karry no Key, Inc.: 1 Issued stock to its owners, Louden Clear and Justin Tune, in exchange for cash 2 Issued a 3-month, 6% promissory note to the bank due on June 30 3 Purchased 200 karaoke machines it plans to sell paying cash 4 Purchased a display stand on April 1 with a 10-year useful life paying cash Amounts in US $ Per Unit Total $ 99,000 114,000 19,600 117,600 10 5 Sold 150 karaoke machines for cash: 11 Record the sale $ 137.00 12 Record the cost of the sale 13 6 Paid its employee cash for services performed in April 1,596 14 7 Declared and paid a cash dividend to its shareholders 1,060 15 A1 Adjusted for depreciation on its equipment with a 10-year useful life and no salvage value 980 16 A2 Adjusted for interest owed on loan with 6% interest and principal due on June 30 570 17 Column Totals 18 19 Chart of Accounts: 20 Accumulated Depreciation 21 Cash 22 Cost of Goods Sold 23 Depreciation Expense 24 Dividends 25 Equipment 26 Inventory 27 Interest Expense 28 Interest Payable 29 Notes Payable 30 Sales Revenue 31 Stock 32 Wages Expense 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 Journal Statements + Instructions Ready Accessibility: Investigate esc :0: F1 2 L Shareholders' Equity Retained Earnings Account Title Liabilities Other Assets Stock Account Title Amount Account Title Amount Q Search Find & Select 80 a DII 4 4 F2 F3 F4 F5 F6 F7 F8 F10 #3 $ 4 85 % V6 & 7 8 9 0 M

AutoSave ANY C Home Insert Draw Page Layout Formulas Data Review View Automate ✗Cut Calibri (Body) v 11 V A A 三三三 ab Wrap Text v General Copy Paste Format C2 BIU Xfx blr00013 く V A Merge & Center $ V % A 1 M1 Project 23 B C D Enter WVU eCampus Username bir00013 E F MP1 Saved く →0 G Σ Autosum V く V く Fillv Conditional Format Formatting as Table Cell Styles Insert Delete Format Clear v Sort & Filter H J K Projects are your own work. It is academic dishonesty to work with others on this project. ABSOLUTELY DO NOT INSERT/DELETE ANY CELLS, ROWS OR COLUMNS IN THIS WORKBOOK; DOING SO WILL RESULT IN A SCORE OF 0. Assets Cash Amount 4 7 56589 5 During April, its first month of business, Karry no Key, Inc.: 1 Issued stock to its owners, Louden Clear and Justin Tune, in exchange for cash 2 Issued a 3-month, 6% promissory note to the bank due on June 30 3 Purchased 200 karaoke machines it plans to sell paying cash 4 Purchased a display stand on April 1 with a 10-year useful life paying cash Amounts in US $ Per Unit Total $ 99,000 114,000 19,600 117,600 10 5 Sold 150 karaoke machines for cash: 11 Record the sale $ 137.00 12 Record the cost of the sale 13 6 Paid its employee cash for services performed in April 1,596 14 7 Declared and paid a cash dividend to its shareholders 1,060 15 A1 Adjusted for depreciation on its equipment with a 10-year useful life and no salvage value 980 16 A2 Adjusted for interest owed on loan with 6% interest and principal due on June 30 570 17 Column Totals 18 19 Chart of Accounts: 20 Accumulated Depreciation 21 Cash 22 Cost of Goods Sold 23 Depreciation Expense 24 Dividends 25 Equipment 26 Inventory 27 Interest Expense 28 Interest Payable 29 Notes Payable 30 Sales Revenue 31 Stock 32 Wages Expense 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 Journal Statements + Instructions Ready Accessibility: Investigate esc :0: F1 2 L Shareholders' Equity Retained Earnings Account Title Liabilities Other Assets Stock Account Title Amount Account Title Amount Q Search Find & Select 80 a DII 4 4 F2 F3 F4 F5 F6 F7 F8 F10 #3 $ 4 85 % V6 & 7 8 9 0 M

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 2.7C

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