On December 1, 2012, Shiras Distributing Company had the following account balances. Debits Credits $ 7,200 4,600 12,000 1,200 22,000 Accumulated Depreciation- Equipment Accounts Payable Salaries and Wages Payable Cash Accounts Receivable Inventory Supplies Equipment $ 2,200 4,500 1,000 15,000 24,300 Common Stock $47,000 Retained Earnings $47,000 During December, the company completed the following summary transactions. Dec. 6 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,300. The cost of the merchandise sold was $4,100. 13 Purchased merchandise on account from Gong Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $2,000. 18 Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,000. 20 Paid salaries $1,800. 23 Paid Gong Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Adjustment data: 1. Accrued salaries payable $800. 2. Depreciation $200 per month. 3. Supplies on hand $1,500. 4. Income tax due and unpaid at December 31 is $200.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Prepare: Journal entries ( chart of accounts number please)

Note: PLEASE when you preparing journal entries please use CHART OF ACCOUNTS. (numbers) i mean for example Dr. 221 Cash 

And prepare cash flow statement

On December 1, 2012, Shiras Distributing Company
had the following account
balances.
Debits
Credits
Cash
$ 7,200
Accumulated Depreciation-
Equipment
Accounts Payable
Salaries and Wages Payable
Common Stock
Retained Earnings
$ 2,200
4,500
1,000
15,000
24,300
Accounts Receivable
Inventory
Supplies
Equipment
4,600
12,000
1,200
22,000
$47,000
$47,000
During
following summary transactions.
Dec. 6 Paid $1,600 for salaries due employees, of which
$600 is for December and $1,000 is for November
salaries payable.
8 Received $1,900 cash from customers in payment of
account (no discount allowed).
10 Sold merchandise for cash $6,300. The cost of the
merchandise sold was $4,100.
13 Purchased merchandise on account from Gong Co.
$9,000, terms 2/10, n/30.
15 Purchased supplies for cash $2,000.
18 Sold merchandise on account $12,000, terms 3/10,
n/30. The cost of the merchandise sold was $8,000.
20 Paid salaries $1,800.
23 Paid Gong Co. in full, less discount.
27 Received collections in full, less discounts, from
December, the company completed the
customers billed on December 18.
Adjustment data:
1. Accrued salaries payable $800.
2. Depreciation $200 per month.
3. Supplies on hand $1,500.
4. Income tax due and unpaid at December 31 is $200.
Transcribed Image Text:On December 1, 2012, Shiras Distributing Company had the following account balances. Debits Credits Cash $ 7,200 Accumulated Depreciation- Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings $ 2,200 4,500 1,000 15,000 24,300 Accounts Receivable Inventory Supplies Equipment 4,600 12,000 1,200 22,000 $47,000 $47,000 During following summary transactions. Dec. 6 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,300. The cost of the merchandise sold was $4,100. 13 Purchased merchandise on account from Gong Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $2,000. 18 Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,000. 20 Paid salaries $1,800. 23 Paid Gong Co. in full, less discount. 27 Received collections in full, less discounts, from December, the company completed the customers billed on December 18. Adjustment data: 1. Accrued salaries payable $800. 2. Depreciation $200 per month. 3. Supplies on hand $1,500. 4. Income tax due and unpaid at December 31 is $200.
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On December 27, for all of the accounts, how did you calculate those amounts? Please go into detail.

 

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