Business
Business, 28.02.2021 17:10, danielamadrid79

Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on March 1 using a short-term note
b. Purchased land on March 2 for future building site; paid cash, $9.
c. Issued additional shares of common stock on April 3 for $23.
d Purchased software on July 4, $10 cash.
e. Purchased supplies on account on October 5 for future use, $18
f. Paid accounts payable on November 6, $13
g. Signed a $25 service contract on November 7 to start February 1, 2019
h. Recorded revenues of $160 on December 8, including $40 on credit and $120 collected
i. Recognized salaries and wages expense on December 9, $85 paid in cash.
j. Collected accounts receivable on December 10, $24
Data for adjusting journal entries as of December 31 ces
k. Unrecorded amortization for the year on software.$5
l. Supplies counted on December 31, 2018, $10
m. Depreciation for the year on the equipment, $6
n. Interest of $1 to accrue on notes payable.
o. Salaries and wages earned but not yet paid or recorded, $12
p. Income tax for the year was $8. It will be paid in 2019.
6-a. Prepare an income statement
6-b. Prepare the statement of retained earnings
6-c. Prepare the balance sheet

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