Help fill out the statement sheet, yellow cells Nathan JacksonP Search (Alt+Q)AutoSave OnM2 P Last Modified 2h agoFileHomeInsertDrawPage Lavout FormulasData ReviewView HelpE AutosumGeneralX cut-A AWrap TextEFillCalibiSortConditional Format as CelIFormatting Table StylesInsert Delete FormatPaste CopyFormat PainterB$- %O ClearFilterIUB -O AEMerge & CenterStylesCellsEditingAlignmentNumberUndoCipboardFontA33FGHD1 M2 Project (continued)2 DO NOT INSERT/DELETE ANY CELLS, ROWS OR COLUMNS IN THIS WORKBOOK: DOING SO WILL RESULT IN A SCORE OF O.3Karry no Key, Inc.4n/an/a6 Sales Revenue9 Wages Expense10 Depreciation Expense11 Insurance Expensen/an/a12In/an/an/a13 Inerest Exрепse14151617Karry no Key, Inc.181920 Beginning Stock21 Stock Issued/an/a-SUM(820:821)22 Ending Stock2324 Beginning Retained Earningsn/aIn/a2526 Dividends27 Ending Retained Earningsn/an/a2829 Total Shareholders' EquityVa303132Karry no Key, Inc.33Instructions Journal StatementsReady Accessbity Investigate144%2324delet&4.5.6.78backsERITY] Nathan JacksonP Search (Alt Q)toSave On ONM2 P. Last Modified: 2h agoPComments ShaData Review View HelpHomeInsert Draw Page Layout FormulasE AutoSum -25 Wrap TextGeneralA X cut命B CopyX Cut-11 - A AJasperactivefor OfficeCalibriSort & Find &AnalyzeDataConditional Format as CellInsert Delete FormatEEEI E Merge a Center$- % > 8Formatting Table StylesO ClearFiter Select4.BIU-H- . A-Paste3 Format PainterEditingAnalysisCCI LeamingCelsNumberStylesFontAignmentCipboardFormula BanKGDEA.2 ProjectwVU MIX Username: EShareholders' EquityAccountLiabilitiesAssetsYesDo you intend to major in one of the College of Business and Economic's majors?AmountAccountAmountAccountAmount$ 106,000 Notes Payable530 Interest Payable111.000 StockBalance Sheet at April 30: $83,536 Cash2,406 Retained Earnings5,500 Inventory132,000 EquipmentAmounts in US$Total(1,100) Accumulated Depreciation33,000 Inventory3,300 Prepaid Insurance(3,300) CashPer UnitDuring May, its second month of business, Karry no Key, Inc.:5/15/133,000 Accounts Payable33,0003,300110.00 $Purchased 300 karaoke machines on accountPaid for six months of insurance in advance; coverage that begins May 1Sold 320 karaoke machines on account:Record the saleDuring49,280 Sales Revenue154.0049,280 Accounts ReceivableMay(35.200) Cost of Goods Sold110.00(35,200) InventoryRecord the cost of the sale44,352 Cash(44,352) Accounts Receivable(19,800) Cash(1,080) Cash(550) Prepaid Insurance(1,100) Accumulated Depreciation44,352DuringCollected cash from customers from sales made on accountMay5/3119.8001,080(19,800) Accounts PayablePaid for inventory purchased on accountDeclared and paid cash dividend to its shareholdersAdjusted for insurance used during the monthAdjusted for depreciation on equipment (hint: refer to P1 for estimated life of equipment)Adiusted for wages owed that will be paid in the first week of June(1.080) Dividends(550) Insurance Expense(1,100) Depreciation Expense(1,484) Wages Expense(530) Interest Expense5/31A1A21,4845301,484 Wages Payable530 Interest PayableA3A4Adjusted for interest owed on the 6%, 3-month bank loan; interest and principal due on June 30Column Totals244,486121,744122,74224Chart of Accounts:2627Accounts PayableAccounts ReceivableAccumulated Depreciation2829Cash30Cost of Goods Sold31Depreciation Expense32DividendsInstructions Journal Statements|国四100%ReadyAccebityinvestigate12:37 AM令d2/1/2022BANG LdetetehomeendDg up965&80669backspacelockWET.AU7.homeDFKenterprt sc* shiftctri

Karry no Key, Inc. n/a n/a /a n/a n/a 6 Sales Revenue 9 Wages Expense 10 Depreciation Expense 11 Insurance Expense n/a n/a n/a 12 13 Interest Expense 14 15 16 17 Karry no Key, Inc. 18 19 20 Beginning Stock 21 Stock Issued 22 Ending Stock n/a n/a |-SUM[B20.821) 23 n/a /a n/a n/a 24 Beginning Retained Earnings 25 26 Dividends 27 Ending Retained Earnings 28 29 Total Shareholders' Equity 30 31 32 Karry no Key, Inc. 33 Instructions Journal Statements

Karry no Key, Inc. n/a n/a /a n/a n/a 6 Sales Revenue 9 Wages Expense 10 Depreciation Expense 11 Insurance Expense n/a n/a n/a 12 13 Interest Expense 14 15 16 17 Karry no Key, Inc. 18 19 20 Beginning Stock 21 Stock Issued 22 Ending Stock n/a n/a |-SUM[B20.821) 23 n/a /a n/a n/a 24 Beginning Retained Earnings 25 26 Dividends 27 Ending Retained Earnings 28 29 Total Shareholders' Equity 30 31 32 Karry no Key, Inc. 33 Instructions Journal Statements

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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