Edgar Co Excel Project Part 1(1) (3)

Edgar Co Excel Project Part 1(1) (3) - Upon completion of...

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Transactions for 2011: Edgar Company, Inc was formed on January 1, 2011 Fiscal year end is December 31. Events affecting the 2011 period 1. Acquired cash of $150,000 from the issue of common stock. 2. Borrowed $130,000 cash from the bank on May 1, 2011. 3. Incurred $106,000 of operating expenses on account during the year. 4. Paid $49,500 cash for other operating expenses 5. Recognized revenue on account of $230,400 6. Paid owners $7,500 of dividends 7. Collected $205,200 cash on the accounts receivable. 8. Paid $185,000 with cash to purchase land and building. The land was valued at $50,000 and th 9. Paid $94,500 on the accounts payable during the year. Information for adjusting entries 10. Incurred accrued salaries of $17,400 on December 31, 2011. 11. Accrued interest expense for loan in # 2. Terms: interest rate 6%, due and payable in one year. Upon completion of the Project, please print out the Horizontal Model and the Four Financial Statements. The Project is due in Fred Christensen's office by 5:45 PM on Thursday September 15, 2011.
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Student Name: Shuwun Ma Section (9:15 or 12:15): 9:15
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Edgar Co Excel Project Part 1(1) (3) - Upon completion of...

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