Can you fill out every yellow cell? The WHOLE CHART. AssetsShareholders' Equity4LiabilitiesAmounts in US $CashOther AssetsRetained EarningsStock5 During April, its first month of business, Karry no Key, Inc.Per UnitTotalAccount TitleAmountAccount TitleAmountAmountAccount TitleIssued stock to its owners, Louden Clear and Justin Tune, in exchange for cashIssued a 3-month, 6% promissory note to the bank due on June 303 Purchased 200 karaoke machines it plans to sell paying cash4 Purchaseda display stand on April 1 with a 10-year useful life paying cash5 Sold 150 karaoke machines for cash:Record the saleRecord the cost of the sale6 Paid its employee cash for services performed in April7 Declared and paid a cash dividend to its shareholdersA1 Adjusted for depreciation on its equipment with a 10-year useful life and no salvage valueA2 Adjusted for interest owed on loan with 6% interest and principal due on June 306.111,0007106,00083.22,0009132,0001011154.0012131,484147.1.080151,1001653017Column Totals1819Chart of Accounts:2021Accumulated DepreciationCash22Cost of Goods Sold23Depreciation Expense242526DividendsEquipmentInventoryInterest Expense2728Interest PayableNotes Payable2930Sales Revenue31Stock3233Wages ExpenseInstructions Journal StatementsReady画回100%4:03 PM令 D1/19/2022BANG & OLhodeleteendan Bd144

Assets=Liabilities+Shareholders' Equity

Liabilities Amounts in US $ Cash Other Assets Retained Earnings Account Title Stock 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 Sold 150 karaoke machines for cash: Per Unit Total Amount Account Title Amount Account Title Amount 1. 111,000 2 106,000 3 22,000 132,000 Record the sale Record the cost of the sale Paid its employee cash for services performed in April 154.00 6. 1,484 4 7 Declared and paid a cash dividend to its shareholders 1,080 5 A1 Adjusted for depreciation on its equipment with a 10-year useful life and no salvage value A2 Adjusted for interest owed on loan with 6% interest and principal due on June 30 1,100 530 Column Totals 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 Instructions Journal Statements 100% ady 4:03 PM ON 1/19/2022

Liabilities Amounts in US $ Cash Other Assets Retained Earnings Account Title Stock 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 Sold 150 karaoke machines for cash: Per Unit Total Amount Account Title Amount Account Title Amount 1. 111,000 2 106,000 3 22,000 132,000 Record the sale Record the cost of the sale Paid its employee cash for services performed in April 154.00 6. 1,484 4 7 Declared and paid a cash dividend to its shareholders 1,080 5 A1 Adjusted for depreciation on its equipment with a 10-year useful life and no salvage value A2 Adjusted for interest owed on loan with 6% interest and principal due on June 30 1,100 530 Column Totals 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 Instructions Journal Statements 100% ady 4:03 PM ON 1/19/2022

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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