J inc urredandpaidemploy eewages of1500 k collec tedac

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Unformatted text preview: h. Made s ales on Valentine's Day totaling $3,000; $2,675 was in c as h and the res t on ac c ounts rec eiv able. The c os t of the c andy s old was $1,200. i. Made a $550 pay ment on ac c ounts pay able. j. Inc urred and paid employ ee wages of $1,500. k . Collec ted ac c ounts rec eiv able of $155 from c us tomers . l. Made a repair to one of the dis play c as es for $130 c as h. m. Made c as h s ales of $2,400 during the res t of the month. The c os t of the c andy s old was $1,210. P3­4 Analyzing the Effects of Transactions Using T­ Accounts, Preparing Financial Statements, and Evaluating the Total Asset Turnover Ratio as a Manager [LO4, 5, 6] Section Break 6. awar d: 0.10 out of 0.10 points P3-4 Part 1& 2 Required: 1&2. Rec ord in the T­ac c ounts the effec ts of eac h trans ac tion for Bri’s Sweets in February , referenc ing eac h trans ac tion in the ac c ounts with the trans ac tion letter. Show the ending balanc es in the T ­ ac c ounts . (Record the transactions in the given order. Leave no cells blank ­ be certain to enter "0" wherever required. Om it the "$" sign in your response.) Cas h Beg. a e. h. k. m. 0 27,600 11,000 2,675 155 2,400 5,640 1,430 11,000 500 550 1,500 b. d. f. g. i. j. 23,080 130 l. Ac c ounts Rec eiv able Beg. h. 0 325 170 155 k. Supplies Beg. d. 0 1,430 1,430 Beg. c. 0 5,500 3,090 Inv entory 1,200 h. 1,210 m. Prepaid Ex pens es Beg. b. 0 5,640 5,640 Beg. f. 0 2,750 2,750 Equipment Furniture and Fix tures Beg. f. 0 8,250 8,250 Ac c ounts Pay able i. 550 0 5,500 Beg. c. 4,950 Notes Pay able 0 11,000 Beg. e. 11,000 Contributed Capital 0 27,600 Beg. a. 27,600 Sales Rev enue 0 3,000 2,400 Beg. h. m. 5,400 Cos t of Goods Sold Beg. h. m. 0 1,200 1,210 2,410 Adv ertis ing Ex pens e Beg. g. 0 500 500 Wage Ex pens e Beg. j. 0 1,500 1,500 Repair Ex pens e Beg. l. 0 130 130 rev: 03­29­2011 Worksheet Learning Objective: 03­04 Apply transaction analysis to examine and record the effects of operating activities on the financial statements. Learning Objective: 03­06 Compute and interpret the total asset turnover ratio. P3­4 Part 1& 2 Learning Objective: 03­05 Prepare financial statements. P3-4 Part 1& 2 Required: 1&2. Rec ord in the T­ac c ounts the effec ts of eac h trans ac tion for Bri’s Sweets in February , referenc ing eac h trans ac tion in the ac c ounts with the trans ac tion letter. Show the ending balanc es in the T ­ ac c ounts . (Record the transactions in the given order. Leave no cells blank ­ be certain to enter "0" wherever required. Om it the "$" sign in your response.) Cas h Beg. a e. h. k. m. 0 ± 0% 27,600 ± 0% 11,000 ± 0% 2,675 ± 0% 155 ± 0% 2,400 ± 0% 5,640 ± 0% 1,430 ± 0% 11,000 ± 0% 500 ± 0% 550 ± 0% 1,500 ± 0% 130 ± 0% b. d. f. g. i. j. l. 23,080 ± 0% Ac c ounts Rec eiv able Beg. h. 0 ± 0% 325 ± 0% 155 ± 0% k . 170 ± 0% Supplies Beg. d. 0 ± 0% 1,430 ± 0% 1,430 ± 0% Beg. c. 0 ± 0% 5,500 ± 0% 3,090 ± 0% Inv entory 1,200 ± 0% h. 1,210 ± 0% m. Prepaid Ex pens es Beg. b. 0 ± 0% 5,640 ± 0% 5,640...
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