Nava * Pubei Dai Wik acubaeadarste a “eugolcot aaa fuagan Noteng hoo (Learning, Ooyctve 1CDeturike the ature tye and vatuation) — 15-1 (Statement. of financial Position Clastiguation) How wowd each ofthe evening _ lems oe reported on the statement of Fitancial postion 7 - = (a) Accrued vacation Pay : (1) feetniuin offers outstanding ae 8 __(b) (ncomme taxes payabie (¥) Recount payable -~* 6) Seewce warranbids om appliance Sates Wy) Nimployee payrou deduation_ & (4) Social Security 4ares. payabre Minette | 0 Revsowat snyuey chaven gomding (+) Current rnaturites v€ tong s (6) Magni Gout ko officers terta Adkks te be paid S| _(9) Deposit vecewed fromm customer bo quarawteo ___framt curren asses Pergormance OF @ Contract Ce) Cash dividends Aectared bul _ Saves taxes payable wwpaid : 7 _ fe areas Sold to customers but wot (0) Quvidewds th arrears om ane __ pl vedeot i ence Shares ¥ (e) acct nOfGe Brswers + _ — (a) Cureent Liabitiey Le (bo) Cuwrent dieraky _ _ - (C) Curent Crabcucy or con-currewt Cabilty depending om Rormn of warranty - | Ca) Gureornt Cialis — Ce) Faokaote Asclosure (assume possble wot pabae) _ - | (HY Garrett Galtity | FG) Gurren’ oF non current Qobikty Aegeading, uh toe fate wove Z (ha) Cure’ Ciaoriey - _ So |G) Garcon Gate = = = : (5) Cavront Lrabilety Ss 7 Garton abl — a —_ SP) Garren Uynbitiey —_ ae | 68) Garten Goby - ~ | (nt) Curr th Ciabilil a | to) Footaote disclowte - ~ C0) Soparate. presentation in either curcent oF ton-Current Laity Leavin Obectve { ( Decrie the vature yy. aud Yawtion) ( Aecaunts 004 “Notes Payable) Tue fatowing ave selected dato brancation of Oarby Cop. “Sypte! Purchased tnvetiory. grow Dron Cornpany, on account gor $50 000 -Dortay tecords © purchases gross. ael wes. peviodic cavetry systend Ea 1 (syued_« 4 90.000, (a-enonth , 8% note to"Deon in fayment Of acount A Boveowed 15.000 from {he Shore. Born by signing a \2-nagntl,#ero-ontereit> | a.beaving 51-000 te. J = (atkruchiows on (a) Prepare journal uibries for the selected 4ransackon above | Lb) Prepare adgustivy eneeres at Dernier 3 | 19 Gorge te Sokal el ibid tated () The sntevest -4 eating ie @) The 20 - ‘werelt? bearing cote. [Araweys + ee) ah | Purchases te ie —_ acount f Payplte | tat a ale pee aoe _ Notes. fat Ay Cash = on 3 [Dee 51 [| nterost Fx@uie Nokes Rayalte, $ fi.) Notes Rayable (wterost Exgense Ltt \terest Qu || (4 50-000 x B% x a) ues Of sine forma de¥L expected to be 200, Mexander + Company hi had 12 €1-0-000 dott, the of € goo-o00 foveeds after fees. awl _atligr Gatti of aawce . 0 “Ou Febuary 2.9 2. dol, the proceeds the (hare Salequidate the €t-200000 debt. A by an oddivional € 440-000 cath, are wed bo ion 1s authorized for issue om Febray 22,201. t $1,200, Halement of ginanciel — gsteuctio Li = — [Show line the € 20-0 prsented onthe December 31,2010, Decembor 3. 2010 Gareent Lilies © a Notes Payable (ile) eu debt rernanced. As of Jecetnber 31, 2010. the Company Yigd coke 7 on Februayy, 2. Oi. Tiere Makes wore repiranced. On A 00 received (wen the WSuance Of drdinary Sharer om January A 200. 300-000_ was liquidated uring irene ae os _ pain fhe classifical Wo be teppei) Pernancing, of Trav rane) Te CE . rr e_company’s clnet exceculig over Wiues related Ko Uae Company's Short torn dbligatons. ib Current kalio aud Sle acid test tat avid the ed Blanes he foie gto wot Laken by the CFO: L FRc tar obligation A» HevdWces has a 60950 shock Ker oigation due ae CEO. dcscussed_ with its ender whether the payment coud be extended to Tesded Hendwicks aqraes ko gavide addtional costo An agenrient reached tm Feerert ia doco be Was ocms ko erkend he, obligation mately to Nah a4, 905. The | Cokatemonis are authored for sssuance on Ara’ {Ou | Shar beeen obligatn ed Ema aotenrHor ftceabigaton_ Of § f Febru, 6. J0U.-09 Ws. discusiaa WMH the (ender agres 0 erted the mawity date Feoruay, A, 9012. “The aacoenn rk 1S Supaed, on Decewnbge 1- Tue financial starer- authorized for Wuanee on Watch $1. 20K AS 2 _ a Ahese Seansackio' shoud be re —fNndicuee th Sakuno k Of Gnawcat postioni ~ Raswer Jf - oi i i s . - |Swor Aare cigation A While the sualuviby of the obkigation was rtended bo March 4,200, land the aaveernent with the fenders. 905 signed. om December. 18. 2010 Since the __ _Jageeemet’ was. place as 9f the keporti ty date (Yecomber 31.2010) The. hago —_ | & Moke has a tong tera dbtigatiow due on Qecomber 4, TGodicate Wow each 0¢ Tse BL. Wiggins 1s veprel “{posibrun of ecernlere 34» 200 Jost eign ot os ne agreement was wok.teached cath Ye leer vob febwaty 1. Jol Since the agreement ~_ Twas wok an place &5.oF the ceporting, date ( December 31.2010), the digakon show be reyorted as a cavrent Gait, _ eerie es _ ee ee — Siaaet deerm Higavion 6 Tee weaturdy of fhe obligation ws extended £6 -bruary. 4, 202 | | = | —| \Sveported asa oir cuveeul ability E Learning, Objective 2 (Expiain Aue classipcation issues of Shark terwn debt extected bo be cefinanced- oe (Debt Ciassfunions) Presouted below are gor diggorent tuations vekated Ao Mekge | | Caegoration debt sign Wickee's wert Guawcial reporting date iS Yecewoer st. _| 2810. The grrancial statements are authorized. for 'sSuace on Ya Or 4. Moree has a debt igation matuing ow Qecownbor $1, 2013. The debe &5 cade dH demand by lender ak day hime : 4010. it breaches & Converaint ow ks debt dbliggkio aind the {00 5 due | 00 demand. AW agreement is Yeached 40 provide a waiver of tHe breach om —Degomnlogr 8. 200. —]# Malge asa Song teron ligation Syon 090, which is Waturing over 4 yeors_| 1H He arnouttt_ of “4 (00.090 fer year The obligation 15 dated November t. | 2010, aod Hue pivsk twakuvity Ake is November 1, 204. 4 Mckee basa. shock ten ae dug February 15. Jolt. [Ls larder agrees to errond the maturity date of Als toa 40 febrwats, 15-2018, Tg agreement For extension 15 Aqned om fanny 15.908. Chins + m Mawes Stolement of § Finale Wioble On Aosmated by She lender al any kere Gute 4. Tne Catiobe, 4 detnard feature overnide' [ Vecannloee $1, 20(3- CT rt 6 olen of aig knee i ¥ Myrmaly Casaged as a cake’ Keablity. However. VG Awe Company rs alle to chkartt a qenod o ate Pro the fender tuk Hoe tpi, a4 Mowe Bd. Ue ogre a vended fon Qevetnber 8. 2010) he det shoud be clastiged as von current _ 1) Mokge shoud classigy $ (00-000 of the olfigabion as 4 Garceat marucity of (org, Seren . “debt Comicon Gata) oud Abe § 200-00¢ lonlarce aS a Mow-Curcentt lialiby (4) While the matuedy, of She higation wat extended 40 February 5. 3012 Aho agreement __waS wot coached ‘hit Ye ender wit Agnuaty 15, 204. Since Yhe agreement Was Hot Ww Uace a5 oF Hye teporkeng date (Oecurwter 1.2) Ate Otiqpticn shoutd be teported as 4 uvcent_ haley - a _ _ |) Pregave al ots ko cqcord transactions ‘elated to Compensanted absence d $8-6 Learoing, Obyctive + (Menta, types 0 emapayee reatad Uoiities) _ E136 (Compensated Abserces) Walhsr0. Company ben Operations of fanory 2,201: | employees 6 Indiduals Who WOK E-hour days and ate gad any: Koch ewmpioyee ‘earns 10. paid _| vacation days and 6 paid sick days ancuany Vacation days may be laken after joruary Gf he year sn which, Mey ate earaed - Sigh’ days hiay be taken_as Soon as they are eared. lunced Sick days accumutated Addional ineirtintich 15. as follows a Rebun Hoarty Vacation Vays Used Siow Vays Vsod ____Wogz Kote ——_oy Tach Simgoyee toy acs eptoyee Sty 20 200A Joy AON $n $8 $ Seo 4 5 a Matehewsom Company, ras couse te accuve te cost Compensated absences o+ rates of pay in eggect during the peed when earned and 40 accrue sick pay when gamed = Anstruckicn * “aol and ao. = : (b) Computed the arnounts of any Viability for componsanted absences that Should be | reported on she statement of Gwancial gosition at Vecetnber 3%, 2010 ard salt ay ee — Sbyo 0): doit fT acecut expense and, Woy or coatrnsantl ences ——_——____ - nae Wages Aaqonse _ JAG mia Tae ee ca te Os) wages payphle - Pe Mae 2 by expos [Ta sear gage ur coroenson td ne hn a wages taysble | Side fay_wagosfagald € Cas LOY Dempoyees * ithe x Ghes/doy x to days —_]O)9 employees x $ (athe x 0 heslday x 6 days = —_[Es) 9 emngytes * §0fle » # bes day 4 day [U4 9 tengiaytes * $13 fir x0 bars (ay x Wu do —] eaployees x8 4a(\w 8 hes/day x 6 days T(G)-5.enploytes x Ff x 6 beside days [ETO ennpicyets x Fyfar x 6 lesiday * 9 ereploy $B ltr A 8 bes [day x Conpoypes 1S fhe x elas (day x § days = 9 emproyets « $1Bthe x tvs [day x 5 days * —G fawy Me 1 _ = fq) ae) Ty. 30) . Spee) FeuyW) G aeor (uy) #0640 $1728 = 4 py Pa4 boy 4 bmngiyees x $ 1 (be x Bis (day x to days + + 8.960 + S lo-a2y WY 4 ermployees x Fisthe ¥ Bis (day « (bsb-¥-ridins> § 2-808 £2-7 Learn Oeectwe 5 (1 bat Ulonpasented faces! ——|_Matihewson Company fas chose ——|_thosen to cation, fee at expeched future cates of pay. u —{ Tre company used_the tulowing projected rates to accew€ vacation Mite —|—__Neor tw which Vacatiow Projected Future fay Rates gy, types OF empioyee Coated abies) Assume the cacks vi procedma exercise ,exepl Arab ko acrue pad sick leave Wnkil used and has __Tut_way_farned std bo_Accrue Vacaborn fay 30l0 $ go 20 To bo areal tntries bo record bansaction elated fo cmpensanted absences during em atl mul o a : eeported on Hee Statement Of fi Thaswer () = _ | Wart He expente and ability for vacations ly, Compensanted absences that Shoutd ve December 3, 2010 andl 2 Wages Crpense $ 9.2990) Vacoloin woges payable To record Sich (eave paid Wages txpense ‘To ruoved_vacahon —} _______Neeitry,, finer _no_vac used Per Pane a fa Ao derive the eefense and (ability for vacation Wages expense __ 9 4.964 (1 _ Nacabisir_vungespaya lt 5-86)cers aeerer Wages expense 64.50 (4) _ Cath Ca ‘To record vacation tune facd | Wages expense ie 46 yok Vacation wages gayabte $359 (5) _ Gosh 6-uay (6) 7 JO) 9 vmpioyees x Sige (hr #4 bes May x todays = 9 4-208 * [YF ermglayers #12 (he x 6 hesfday x 4 days = OR ys — ©) 4 empoytes * 9 12.foflr * Plasiday x odoys = 6 4-96 {4 employers x 6 13.00 flr * Plvsiday F Sdags = 6 4 690 1 |) 4 empoiees x 4 tdothe 8 lrsfday x 9 days = 9 0359 [LG 9 empoyers x % B thr x 8 brldey * 9 days = § OYDY ——_(b) Rowe laafatity at Year end + : _ 2olv doll g } 49-208 9-188 9 Bey (0) (9-359) Dee 34 batance Fore) F193 a) “YG empoyees * $1240 lhe x 8 (1.9 employees x Shego flr x 6 Traening Doyectwe 1 (Oesuribe Boe nature. Lyre and. yaluahon ) 13-8_( Adding Tintes for Sales Gre) During the Mouth of gune, Donets By Wad cus Salts of $ 265-000 and credit Sales" oF $ 193.100 Bath bf which include __| Go sates tax Kat wnust be reritted 40 ue government by duly 15. Www Peepare Ane adushng entey that should be recotded arly pecont Ae une 5 _| Finawaal Vatements -_ nn Tagen_|Computation ® pees tsooee [Sates pus sates bax (265-900 + $ 153-700) 4 416° To0 | Saves excusve of tax (4 4i9-Too* 1.06) 398-000 Fy Gales bax _|tactS are recorded Separately —|Wage and Solayses Aopen ER Aenvaiog Ogectwe 3 ((denticy types Of emmpayee related abilities) E1979 _(fayeat Tax fees) Toe payroll of Deaney tonpony for September dato cs AS follow. Total payrull was $3yo-000- lacome taxes im he “Amourtt of $ 80-000 were withheld , 4s was 6 Piso. assume that the Curent ual Seurity tae 16 8% oman Peapare tae. cceSsary, Journal auirivs Ug the Wages and Galanes paid and the employer peye Anwwer itholding Taxes fanable me Seat and Seounty Tues Rayyabte (syp-000 x6) Wawow Woes fayable Cash Payeol Tox Copernse Saunt Seanvity foxes Remote _ _ | 9 C000 for adimnistratve: d Lroveung Orechore (identgy ype o¢ emproype related Labisties) EB Cayeet Tax Gaycies ) Alison Hardware Company's” payroll gor Movember 9010 14% peyowe F factory § Wem; Sues $ 32.000 aed adnate $34.00. The (ocial curity abe ic 4% on “AW enplegte anges -Angome Aa witheld ovnunts te § (6-606 for factory . $3.00 for sole. ard “Gol fapare_a hedwe show, He ompoyer’s ola cv of wages fr November fy furan sonal enies Aner he factory, Stes and_gdmmitabw® Paya, wehacing poytoh ducesAntwer * () ( Computation of hares Factory _ Wages mune typ-000 _| Soma Security tures (0% x § Woe) M300 Total cost a Ter a0) | as | Soria seaavity tances Cove x 9 52.000) Totat_cst. z= —_ ___ Aaiministralive _ Woe 8D social Security kaxes (grfe x Total Factory Gales AAmmistrabve —F w0-v0v ——Sryoou0_§ 39-000 4 3-000 Ieeye W200 2-560 2-88 tS aayGyy Hie g06 =. 34560 89-890 fame Wiklaholding 1 - | Samal Secntity Tore pl : 2 - | Paral 7 Tox Fxpense ~ Somat Security T Sales parol | Wages” ard sataes, txgens | Witt ding, Tayex_pay: OW Tax ERpense — 2-560 _ Socut Secunity Teves Payable Oo Adeministrave Pagal = {Wages aud aigses Expense BRD Wilsalding, Taser Rayable 5 Cae = ‘Taxes Qayobie 2-980 ae 2120 Tax fxqense _ 2-000 Seouniby Taxi fayable FO {| [PBL Lencning Objecive 1 (Deraibe the nature. types ard Vatunkon) — [ptt Cian ana award Adjustment) Desoibed below are =| Ndwarion Corporation: The company uses the (orgdic woventory fystera = S]1) Dn februaty 2. the tarpration purchased queds from Moréin Coigany. for 000 dubect_ S| toca discomnt ferms_of 2/l0- 130. Purchases and accounts payoble are cecorded by te X|__ Gorgoration ab net arnouits after Cosh discount: Toe covoice wos pard on Fobranry 2¢- xe] 220m pel the corporation bought a tuck for $10. foyeg # 4200 In cash ancl S|___vigiing a one year 12°/ ot for the balance of purchate price cloned of diceckors declared a £ 300-600 Cash dividend that was 3 3) Dn fugit 4, 8 _|__payalit on Lepteenber to fo sharsholders of record on Haru Ors $e - | a) Wane ail the Journal entvies necessary to Fecord the Arangac tion above using agpropriate dates, a — |W Aewardson Coorgoroion’s year end tt Orcember 31- Assuming that qo adyushng ernie | retatve £0 the Gransochots afore have been recorded. prepare any adjushrg Journal entrses Concerning interest that Ate necessary bo present fair frnancial Statements at Yecember 37 Anjwer + Tle) Feb > [[Rechaies GO | Recount Yayable = 600. | [Uo-o00 x 96%) Feb 20] | Accamnt Rayaet & by ~ i Puvclass. Disque! Lost . 400. nal Cosh _ & 70-000|| Notes fayabie Rekavned Faring $ Ragust 1 | : — Ywedends tayobse sy | | Dividends Royale Cash _ O No Adustenent Necessary a © lnkerost Expense (4ubo06 xrvex%e) | et Vnterest_ Payable ! ON Tgwiwent He |PB __ | rekuratd otter cerkave furmture ty be used in stage productiot was reburned 45: —[Perpare av the fourn! enuvies necessary Yo. two [present foe Gran! Statements af December 3 1 Leannins Oeective 1 (Describe the eature, type, and Valuation y - p vot (habit ‘enkeitS and Adjuctment) liked Eelow ace Setected Mantaction of Scuita Deparonent tort for the cureent year ending December 34. | 1) On decernber 9. the Store received $00 ¢rom the orkson_ Payers aca degusit to be chs Were puechastd i a | pees a Sh Soles tar ) Thy store dekermined it will cost § [00-000 to restore the atea curcound| Parking fobs, when the tore 15 closed th 2 Years. Sdautta ettimotes, Hi fear Va | _df tht OGliyatio at December 31 1 $ S4QOO = eal action “wad the fanigchons vod alow ax chow Heat would be required to | and aby adjushng. journal entries relohve te | cecocd d_onty once 4 year =| (as oe Beeurnabie Deport (ealaity ) RealSates (1900008) Soles Taxes fayable (4 Tbo-00v Koos] Trucks 116-000 _ oe G 12b.000 _ Gash - a (@ la0.099 ¥ 105) ~~ : - —_fowlsva, lok SC —___Frironenental frabaiby _ _ | rd Leavwing Obective § Cldentigy types o¢ employee, cemabed leabilities ) Cages kar entries) Cadawe Comgany, gays 8s of ial empiyer gay wed tow (Sm pata USF Of emelayees and their gayrlt datas for august: Becoute august _ _|_ 1s thew vacation Reviod , vacation pay ts also ited _ - Earring, $0 We Nocahow fay to be Eenpioyee Quy 31 Roy Revewed vn_flagust | Mark Homi 4200 % a00 = i: | over Kolbas _ 3-500 50 Bronte Foo Wo Z | te Guinness _ __ E400 so Pas 2260 ee — ¥en Sprowse 8-000 330 660 - Fswawt_ thal the tote tar wtherd os (0h of wages. Union dues withheld ae 2" —|wages- Vacahohs are 4aken the second and third weeks of August by Robbin). prowse [ht souat Sewwrity rate 4 @° on employ te and emproye wirachons? ree my Make the journal entries necessary for cach of the four Pagust Poy usThe enwies jor. lhe companys fabitty are made" siparately. hiio make the entry +e record the monthiy [payment of accrued payroi habit Taves Payable oye) 2 unity Taxes Payable (8% x $ hoy) Unive Dues fayblé (2% x $ [-0y0) Osh | XG apr Sor $ Wor $ or G 330= SloyO—[“Witoidiny Taxes fayabie Llole #80 ayo) i ec — | Pageoll Tax teense, Dayrott tae expenses i 3.20 | Vocal Jacunry Tarts Rayabie (ove * § (040) 5 Bap { Tnkvies For Payroll 2 and 3 + : Vacaliow Wages Payable 4590.00 Waoes and Salant Expenit _ AyvO a Wuithlntding, Genes Qayable (iele x Slovo) _ Fw Saat eourity Taxes Peyote (8% « $1.040) _ B.% [Wai Ques payee (oe x Soyo) Lat —— es pew | _ —__ Eaeries aurott A Wages and fatavies Expense oun Srowibyy Taxts Payable CO x § 1 Dues Rayabie (rf x $1 | Sonat Seaariey facts payable (0's Monit Payengnt of Poyrot Lghities | Withhotding Taxes ayabte (4 (04-06 « 4) H 410.00 Soot Srguvity Tarer Quyabit ($63.20 x6) £65.60 ‘C4 20,90 x 4) 63.20 | Vowon Over fayobte Gk [PBA Learning Of ut § Clb ya ert ated Gobi) LP 1-4 Ufayrott tax tnt | baa. A eyo fat Of Ds port Company. for the oonth of September 2010 Assutne a 10% Income bar (ate all employees and cn To Social Seowity tA Employee and_eimp yet:farning 5 September Income baal to August 3f Earnings Tar Secanty = Withbordin BD Wom) eae D. Rage. ¢-500 ho _ 7.600 Loo 13-600 1-900 \o5-00b B-yg0 Ma en) ie a Mae fhe entey fo | he puyentl tax expenses of Obs TUE) Make the egbey bo recor: 7 gayment of Ahre payroll in _Nssume Haat Che Gmmpainy pays al payroll abbas ak Ghee . Raye 6-sv6 ke Baker 1.600 100 HO |: Lope Boo 1-900 190 A Daniels $ys-000 13-000 300 Be kingston 12-006 16-000 1-600 Total $ asi- 500 $ 33500. 3:380 Ostrom ¥ hush = € 160,50 OS (ecg x bust * § 232,00 To) Peyron Taw txpense 3 2600 - Baws Lecarity Taxes payable § 2-680 1) Withholding Tares Payable 3-310 7 (e £360 Beal fecurity Taxes Gash