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M1 Project G H Projects are your own work. It is academik dishonesty to work with others on this project. Enter WVU eCampus Username beso0011 ABSOLUTELY DO NOT INSERT/DELETE ANY CELLS, ROWS OR COLUMNS IN THIS WORKBOOK DOING SO WILL RESULT IN A SCORE OF O. Assets Amounts in US $ During April, its first month of business, Kamy 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 Shareholders' Equity Retained Eamings Cash Other Assets Liabilities 1 Per Unit Total Stock Amount Account Title Amount Account Title 99,000 Amount Account Title 115,000 19,600 Purchased a display stand on April 1 with a 10 -year useful life paying cash 5 Sold 150 karaoke machines for cash: 117,600 Record the sale Record the cost of the sale Paid its employee cash for services performed in April 7 Declared and paid a cash dividend to its shareholders 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 30 137.00 1,610 1,065 7 980 575 Column Totah Chart of Accounts:

M1 Project G H Projects are your own work. It is academik dishonesty to work with others on this project. Enter WVU eCampus Username beso0011 ABSOLUTELY DO NOT INSERT/DELETE ANY CELLS, ROWS OR COLUMNS IN THIS WORKBOOK DOING SO WILL RESULT IN A SCORE OF O. Assets Amounts in US $ During April, its first month of business, Kamy 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 Shareholders' Equity Retained Eamings Cash Other Assets Liabilities 1 Per Unit Total Stock Amount Account Title Amount Account Title 99,000 Amount Account Title 115,000 19,600 Purchased a display stand on April 1 with a 10 -year useful life paying cash 5 Sold 150 karaoke machines for cash: 117,600 Record the sale Record the cost of the sale Paid its employee cash for services performed in April 7 Declared and paid a cash dividend to its shareholders 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 30 137.00 1,610 1,065 7 980 575 Column Totah Chart of Accounts:

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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A M1 Project Home Insert Draw Page Layout Formulas Data Review View O Tell me Calibri (Body) v A A e Share O Comments v 11 ab v LG Paste I Conditional Formatting v General B Uv E Insert v Σ A v A v $ v % 9 E Foras Table Delete v 31 2 Cell Styles v Sort & Find & x v fx A Format v Analyze Data Sensitivity Filter Select A M1 Project D E G H Enter WVU eCampus Username beso0011 Prolects are your own work. It is academic dishonesty to work with others on this project. M ABSOLUTELY DO NOT INSERT/DELETE ANY CELLS, ROWS OR COLUMNS IN THIS WORKBOOK; DOING SO WILL RESULT IN A SCORE OF O. Assets Amounts in US $ Shareholders' Equity During April, its first month of business, Kamy no Key, Inc.: 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: Other Assets Liabilities Cash Per Unit Total Stock Retained Eamings Amount Account Title Amount Account Title 2 Amount Account Title 99,000 115,000 3 19,600 5 117,600 Record the sale Record the cost of the sale 137.00 6 Paid its employee cash for services performed in April 7 Declared and paid a cash dividend to its shareholders 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 6 1,610 1,065 980 575 Column Totols 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 A Journal A Statements 曲 回四 + 90% eady MacBook Pro A ily
Transcribed Image Text:A M1 Project Home Insert Draw Page Layout Formulas Data Review View O Tell me Calibri (Body) v A A e Share O Comments v 11 ab v LG Paste I Conditional Formatting v General B Uv E Insert v Σ A v A v $ v % 9 E Foras Table Delete v 31 2 Cell Styles v Sort & Find & x v fx A Format v Analyze Data Sensitivity Filter Select A M1 Project D E G H Enter WVU eCampus Username beso0011 Prolects are your own work. It is academic dishonesty to work with others on this project. M ABSOLUTELY DO NOT INSERT/DELETE ANY CELLS, ROWS OR COLUMNS IN THIS WORKBOOK; DOING SO WILL RESULT IN A SCORE OF O. Assets Amounts in US $ Shareholders' Equity During April, its first month of business, Kamy no Key, Inc.: 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: Other Assets Liabilities Cash Per Unit Total Stock Retained Eamings Amount Account Title Amount Account Title 2 Amount Account Title 99,000 115,000 3 19,600 5 117,600 Record the sale Record the cost of the sale 137.00 6 Paid its employee cash for services performed in April 7 Declared and paid a cash dividend to its shareholders 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 6 1,610 1,065 980 575 Column Totols 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 A Journal A Statements 曲 回四 + 90% eady MacBook Pro A ily
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