Please fill out remanding yellow cells that have nothing in them. If blurry, please zoom in, its clear. Nicolas CaldwO SearchM2 P - ExcelAutoSave O on A 2E AutoSum -FormulasDataReviewViewHelpFileHomeInsertPage LayoutGoodNormalBadFill -Sort & Find &Filter Select -AnX Cut11 A Aシ。2b Wrap TextGeneralInsert Delete FormatO ClearCalculationCheck CellCalibriConditional Format as NeutralB Copy -24АпBIU A-a- A- EEE EE E Merge & CenterFormatting - Table-EditingPasteCellsFormat PainterStylesAlignmentNumberFontClipboardC3frGHFA.1 M2 ProjectWVU MIX Username:Diagnostic Check:A=L+ SELiabilitiesShareholders' EquityAssets3Do you intend to major in one of the College of Business and Economic's majors?AccountAmountAccountAccountAmountAmount$ 99,000 Notes Payable495 Interest Payable$111,000 Stock2,574 Retained EarningsBalance Sheet at April 30: $ 76,669 Cash5,500 Inventory132,000 Equipment(1,100) Accumulated Depreciation6Amounts in US $78 During May, its second month of business, Karry no Key, Inc.:Per UnitTotalTrue33,000Purchased 300 karaoke machines on account5/1Paid for six months of insurance in advance; coverage that begins May 195/1103,300True1112During Sold 320 karaoke machines on account:13MayRecord the sale154.0014Record the cost of the saleTrue15DuringCollected cash from customers from sales made on account44,35216May5/3)TruePaid 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 ofequipment)Adjusted for wages owed that will be paid in the first week of JuneAdjusted for interest owed on the 6%, 3-month bank loan; interest and principal due on1719,800True185/311,045True19A1TrueA220TrueA31,386A4TrueJune 30495TrueColumn Totals213,06999,495113,574TrueChart of Accounts:Accounts PayableAccounts ReceivableAccumulated DepreciationCashCost of Goods SoldDepreciation ExpenseDividendsEquipmentInsurance ExpenseInterest ExpenseInstructionsJournalStatementseadyP Type here to search曲Rain to stopF-JF6FO110F1F12NDTABCOSprAPONTEROTRI

Accounting equation is the basic relationship between the assets, liabilities and shareholders'…

M2 Project wVU MIX Username: Shareholders' Equity Diagnostic Check: Assets Liabilities Do you intend to major in one of the College of Business and Economic's majors Account AL+ SE Amount Account Amount Account Amount $ 99,000 Notes Payable 495 Interest Payable $111,000 Stock 2,574 Retained Earnings Balance Sheet at April 30: $ 76,669 Cash 5,500 Inventory 132,000 Equiprment (1,100) Accumulated Depreciation 7. Amounts in US $ During May, its second month of business, Karry no Key, Inc.: 5/1 5/1 Per Unit Total True 9. Purchased 300 karaoke machines on account 33,000 10 Paid for six months of insurance in advance; coverage that begins May 1 3,300 True 11 12 sold 320 karaoke machines on account: 13 May Record the sale 154.00 14 Record the cost of the sale True During Collected cash from customers from sales made on account 15 May 5/31 5/31 19 44,352 16 True 17 Paid for inventory purchased on account Declared and paid cash dividend to its shareholders Adjusted for insurance used during the month Adjusted for depreciation on equipment (hint: refer to P1 for estimated life of equipment) Adjusted for wages owed that will be paid in the first week of June Adjusted for interest owed on the 6%, 3-month bank loan; interest and principal due on June 30 19,800 True 18 1,045 True A1 True A2 20 A3 True 1,386 A4 True 495 True Column Totals 213,069 99,495 113,574 True Chart of Accounts: Accounts Payable Accounts Receivable Accumulated Depreciation Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Insurance Expense Interest Expense Instructions Journal Statements ady

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q