Beamer Year 4

Beamer Year 4 - Beamer 20x4 1 Accounts Payable Cash To...

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Beamer 20x4 12Insurance Expense 600 Prepaid Insurance 600 1Accounts Payable 414,000 To record insurance expense for 1/1-3/31/x4 Cash 414,000 To record payment of Accts. Pay. 13Insurance Expense 2,250 Prepaid Insurance 3,750 2Cash 105,600 Cash 6,000 Accounts Receivable 105,600 To record new two-year fire insurance policy To record receipt of Accts. Rec. 14Furniture and Fixtures 50,000 3Inventory 240,000 Cash 50,000 Cash 60,000 Accounts Payable 180,000 To record purchase of 5 @ $48,000 15Rent Expense 12,000 Cash 10,000 4Cash 560,000 Prepaid Rent 1,000 Accounts Receivable 140,000 Rent Payable 1,000 Sales 700,000 To record payment and accrual of rent To record sale of 10 @ $70,000 16Depreciation Expense 28,400 5Cost of Sales 460,000 Accumulated Depreciation- Building 15,000 Inventory 460,000 12,500 To record cost of inventory sold Accumulated Depreciation-Signs 900 10 at $46,000 To record depreciation expense for 20x4 Building ((200,000-50,000)/10) 6Wages Payable 3,000 Furn & Fixt ((50,000-5,000)/10)+8,000 Wage Expense 44,000 Signs (10,000-1,000)/10 Cash 47,000 To record payment of wages 17Interest Expense 4,000 Cash 4,000 7Wage Expense 4,000 To record interest paid to Uncle Phil Wages Payable 4,000 To record unpaid wages at 12/31 18Taxes Payable 6,870 Cash 6,870 8Utilities Expense 3,000 To record payment of x3 taxes Cash 3,000 To record payment of utilites 19Retained Earnings 20,000 Cash 20,000 9Building 200,000 To record payment of dividend Cash 40,000 Mortgage Payable-Building 160,000 20Tax Expense 37,365 To record purchase of building Taxes Payable 37,365 To record taxes for the year 10Interest Expense
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Beamer Year 4 - Beamer 20x4 1 Accounts Payable Cash To...

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