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L 3 7 B 9 10 11 12 13 MI Project 2 TAMPE 3 4 5 30 31 32 33 34 35 36 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 Issued a 3-month, 6% promissory note to the bank due on June 30 Purchased 200 karaoke machines it plans to sell paying cash Purchased a display stand on April 1 with a 10-year useful life paying cash Sold 150 karaoke machines for cash: Enter WVU eCampus Username n00024 Record the sale Record the cost of the sale Paid its employee cash for services performed in April Chart of Accounts: Accumulated Depreciation Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Inventory Interest Expense Interest Payable Notes Payable Sales Revenue Stock Wages Expense $ 6 7 Declared and paid a cash dividend to its shareholders 15 A1 Adjusted for depreciation on its equipment with a 10-year useful life and no salvage value 16 A2 Adjusted for interest owed on loan with 6% interest and principal due on June 30 17 18 19 20 21 22 23 24 25 26 27 28 29 Amounts in US $ Total Per Unit 136.00 S 98,000 48,000 19,400 116,400 672 725 970 240 Column Totals Projects are your own work. It i ABSOLUTELY DO NOT INSERT/D Assets Cash Amount Other

L 3 7 B 9 10 11 12 13 MI Project 2 TAMPE 3 4 5 30 31 32 33 34 35 36 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 Issued a 3-month, 6% promissory note to the bank due on June 30 Purchased 200 karaoke machines it plans to sell paying cash Purchased a display stand on April 1 with a 10-year useful life paying cash Sold 150 karaoke machines for cash: Enter WVU eCampus Username n00024 Record the sale Record the cost of the sale Paid its employee cash for services performed in April Chart of Accounts: Accumulated Depreciation Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Inventory Interest Expense Interest Payable Notes Payable Sales Revenue Stock Wages Expense $ 6 7 Declared and paid a cash dividend to its shareholders 15 A1 Adjusted for depreciation on its equipment with a 10-year useful life and no salvage value 16 A2 Adjusted for interest owed on loan with 6% interest and principal due on June 30 17 18 19 20 21 22 23 24 25 26 27 28 29 Amounts in US $ Total Per Unit 136.00 S 98,000 48,000 19,400 116,400 672 725 970 240 Column Totals Projects are your own work. It i ABSOLUTELY DO NOT INSERT/D Assets Cash Amount Other

FINANCIAL ACCOUNTING
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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e & Center D s in US $ S Total 98,000 48,000 19,400 116,400 672 725 970 240 Column Totals General $ -% 9 Number Cash Q Search Amount L Conditional Format a Formatting Table P Assets Other Assets 0 E F 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. Shareholders' Equity Account Title Styles = Amount 1 9 Liabilities ________ Account Title Insert E Delete Format Stock Σ AutoSum Retained Earnings Amount Editing AY 0 Sort & Find & * Select Account Title Sales Revenue Cost of Goods Sold Display Settings
Transcribed Image Text:e & Center D s in US $ S Total 98,000 48,000 19,400 116,400 672 725 970 240 Column Totals General $ -% 9 Number Cash Q Search Amount L Conditional Format a Formatting Table P Assets Other Assets 0 E F 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. Shareholders' Equity Account Title Styles = Amount 1 9 Liabilities ________ Account Title Insert E Delete Format Stock Σ AutoSum Retained Earnings Amount Editing AY 0 Sort & Find & * Select Account Title Sales Revenue Cost of Goods Sold Display Settings
G21 2 3 Undo 7 8 12 13 M1 Project 15 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 1 33 34 35 36 2 5 During April, its first month of business, Karry no Key, Inc.: 6 3 -------- 5 7 A1 A2 Ready Copy Format Painter Clipboard X ✓ £x Chart of Accounts: Accumulated Depreciation Scroll Lock 40°F Sunny Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Inventory Interest Expense Interest Payable Notes Payable Sales Revenue Stock Wages Expense BIU. Instructions B Font Journal Accessibility: Investigate 1 Issued stock to its owners, Louden Clear and Justin Tune, in exchange for cash Issued a 3-month, 6% promissory note to the bank due on June 30 Purchased 200 karaoke machines it plans to sell paying cash Purchased a display stand on April 1 with a 10-year useful life paying cash Sold 150 karaoke machines for cash: Record the sale Record the cost of the sale Paid its employee cash for services performed in April Declared and paid a cash dividend to its shareholders Adjusted for depreciation on its equipment with a 10-year useful life and no salvage value Adjusted for interest owed on loan with 6% interest and principal due on June 30 [2 Statements = 3 3 3 Enter WVU eCampus Username an00024 S Alignment| 22 Wrap lexxt Per Unit Amounts in US $ Total Merge & Center 136.00 S 98,000 48,000 19,400 116,400 672 725 970 240 Column Totals E Projects are your own work. It is ABSOLUTELY DO NOT INSERT/DEI Assets Cash %69 58 Search Amount Other As
Transcribed Image Text:G21 2 3 Undo 7 8 12 13 M1 Project 15 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 1 33 34 35 36 2 5 During April, its first month of business, Karry no Key, Inc.: 6 3 -------- 5 7 A1 A2 Ready Copy Format Painter Clipboard X ✓ £x Chart of Accounts: Accumulated Depreciation Scroll Lock 40°F Sunny Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Inventory Interest Expense Interest Payable Notes Payable Sales Revenue Stock Wages Expense BIU. Instructions B Font Journal Accessibility: Investigate 1 Issued stock to its owners, Louden Clear and Justin Tune, in exchange for cash Issued a 3-month, 6% promissory note to the bank due on June 30 Purchased 200 karaoke machines it plans to sell paying cash Purchased a display stand on April 1 with a 10-year useful life paying cash Sold 150 karaoke machines for cash: Record the sale Record the cost of the sale Paid its employee cash for services performed in April Declared and paid a cash dividend to its shareholders Adjusted for depreciation on its equipment with a 10-year useful life and no salvage value Adjusted for interest owed on loan with 6% interest and principal due on June 30 [2 Statements = 3 3 3 Enter WVU eCampus Username an00024 S Alignment| 22 Wrap lexxt Per Unit Amounts in US $ Total Merge & Center 136.00 S 98,000 48,000 19,400 116,400 672 725 970 240 Column Totals E Projects are your own work. It is ABSOLUTELY DO NOT INSERT/DEI Assets Cash %69 58 Search Amount Other As
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