Can somone help me with cost of good chart, rent expenses chart wages expense and interest expenses.
Can somone help me with cost of good chart, rent expenses chart wages expense and interest expenses.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Can somone help me with cost of good chart, rent expenses chart wages expense and interest expenses.
![(Copy
Paste
BIUE . AE == EE E Merge & Center
0 00 Conditional Format as
Formatting Table-
$ - %
Format Painter
.00.0
Clipboard
Font
Alignment
Number
Styles
K33
fe
4.
Dr.
Big Bank
Cr.
Dr.
Big Bank
Cr.
Dr.
Stock
Cr.
Beg. Balance
35,000
Beg. Balance
65,000
Beg. Balance
75,000
rent expense
4,000
sales
62,000
Ending Balance
Ending Balance
inventory
17,000
Ending Balance
76,000
Retained
Note Payable
Dr.
Little Bank
Cr.
Dr.
Earnings
Cr.
Cash
Beg. Balance
60,000
Beg. Balance
Dr.
Little Bank
Cr.
Beg. Balance
20,000
Ending Balance
Current Balance
employe payment
10,000
sales
4,000
Sales
Revenue
Cr.
Interest Payable
Big Bank
23,000
Dr.
wages expense
Ending Balance
27,000
Dr.
Cr.
Beg. Balance
Beg. Balance
cash
62.000
600
88,000
interest payable
Ending Balance
Accounts
cash acc recievabe
Dr.
Receivable
Cr.
cash
110,000
Ending Balance
260,000
Beg. Balance
Interest Payable
Cr.
sales
8,800
sales
8৪.000
[Dr.
Little Bank
Cost of Goods
Beg. Balance
interest payable
Dr.
Sold
Cr.
Ending Balance
158,000
450
Beg. Balance
Ending Balance
Dr.
Inventory
Cr.
Beg. Balance
cost of goods sold
cost of goods sold
cost of goods sold
85,000
16,000
Ending Balance
22,000
Rent
28,000
Dr.
Expense
Cr
additional invetory
17,000
Beg. Balance
0.
Ending Balance
36,000
Ending Balance
Dr.
Cr
Equipment
60,000
Beg. Balance
Wages
Expense
Dr.
Cr.
Ending Balance
Beg. Balance
General Ledger
Trial Bal and Income Stat
RE Calc and Balance Sheet
General Journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1fd1bd5d-f0ed-49e5-bfba-c19e64fbf32b%2Fbb3a1c09-d4cb-45d3-b973-b941ca015dd3%2Ftwv81e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:(Copy
Paste
BIUE . AE == EE E Merge & Center
0 00 Conditional Format as
Formatting Table-
$ - %
Format Painter
.00.0
Clipboard
Font
Alignment
Number
Styles
K33
fe
4.
Dr.
Big Bank
Cr.
Dr.
Big Bank
Cr.
Dr.
Stock
Cr.
Beg. Balance
35,000
Beg. Balance
65,000
Beg. Balance
75,000
rent expense
4,000
sales
62,000
Ending Balance
Ending Balance
inventory
17,000
Ending Balance
76,000
Retained
Note Payable
Dr.
Little Bank
Cr.
Dr.
Earnings
Cr.
Cash
Beg. Balance
60,000
Beg. Balance
Dr.
Little Bank
Cr.
Beg. Balance
20,000
Ending Balance
Current Balance
employe payment
10,000
sales
4,000
Sales
Revenue
Cr.
Interest Payable
Big Bank
23,000
Dr.
wages expense
Ending Balance
27,000
Dr.
Cr.
Beg. Balance
Beg. Balance
cash
62.000
600
88,000
interest payable
Ending Balance
Accounts
cash acc recievabe
Dr.
Receivable
Cr.
cash
110,000
Ending Balance
260,000
Beg. Balance
Interest Payable
Cr.
sales
8,800
sales
8৪.000
[Dr.
Little Bank
Cost of Goods
Beg. Balance
interest payable
Dr.
Sold
Cr.
Ending Balance
158,000
450
Beg. Balance
Ending Balance
Dr.
Inventory
Cr.
Beg. Balance
cost of goods sold
cost of goods sold
cost of goods sold
85,000
16,000
Ending Balance
22,000
Rent
28,000
Dr.
Expense
Cr
additional invetory
17,000
Beg. Balance
0.
Ending Balance
36,000
Ending Balance
Dr.
Cr
Equipment
60,000
Beg. Balance
Wages
Expense
Dr.
Cr.
Ending Balance
Beg. Balance
General Ledger
Trial Bal and Income Stat
RE Calc and Balance Sheet
General Journal
![February's transactions and adjusting entry information are shown below. For each item make
the required entry in the General Journal.
(See the General Ledger tab in the file Chapter 04 b - Problem 4-1 Forms for the accounts in OPJ's
accounting system.)
Feb 01
Take $4,000 cash out of Big Bank to pay for February's warehouse rent.
Sale of inventory to a customer – selling price $62,000 – cost of inventory sold
$16,000 – customer paid cash which was deposited in Big Bank.
Feb 04
Feb 07
Take $10,000 cash out of Little Bank to pay employees for wages they have earned.
Feb 15
Sale of inventory to a customer – selling price $88,000 – cost of inventory sold
$22,000 – customer will pay in the future.
-
Feb 18
Sale of inventory to a customer – selling price $110,000 – cost of inventory sold
$28,000 – customer pays $40,000 cash which is deposited in Little Bank – customer
will pay for the remaining amount of the sale in 30 days.
Feb 22
Purchase additional inventory – pay $17,000 cash out of Big Bank for the inventory.
Feb 27
Take $23,000 cash out of Little Bank to pay employees for wages they have earned.
Adjust the Interest Payable-Big Bank account to record the $600 of interest owed to
Big Bank for February – interest will be paid in June.
Feb 28
Adjust the Interest Payable-Little Bank account to record the $450 of interest owed
to Little Bank for February - interest will be paid in March.
Feb 28
Requirement 2
Post the entries from the General Journal to the General Ledger accounts.
(Problem 4-1 continues on the next page)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1fd1bd5d-f0ed-49e5-bfba-c19e64fbf32b%2Fbb3a1c09-d4cb-45d3-b973-b941ca015dd3%2F95a9tpp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:February's transactions and adjusting entry information are shown below. For each item make
the required entry in the General Journal.
(See the General Ledger tab in the file Chapter 04 b - Problem 4-1 Forms for the accounts in OPJ's
accounting system.)
Feb 01
Take $4,000 cash out of Big Bank to pay for February's warehouse rent.
Sale of inventory to a customer – selling price $62,000 – cost of inventory sold
$16,000 – customer paid cash which was deposited in Big Bank.
Feb 04
Feb 07
Take $10,000 cash out of Little Bank to pay employees for wages they have earned.
Feb 15
Sale of inventory to a customer – selling price $88,000 – cost of inventory sold
$22,000 – customer will pay in the future.
-
Feb 18
Sale of inventory to a customer – selling price $110,000 – cost of inventory sold
$28,000 – customer pays $40,000 cash which is deposited in Little Bank – customer
will pay for the remaining amount of the sale in 30 days.
Feb 22
Purchase additional inventory – pay $17,000 cash out of Big Bank for the inventory.
Feb 27
Take $23,000 cash out of Little Bank to pay employees for wages they have earned.
Adjust the Interest Payable-Big Bank account to record the $600 of interest owed to
Big Bank for February – interest will be paid in June.
Feb 28
Adjust the Interest Payable-Little Bank account to record the $450 of interest owed
to Little Bank for February - interest will be paid in March.
Feb 28
Requirement 2
Post the entries from the General Journal to the General Ledger accounts.
(Problem 4-1 continues on the next page)
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