A1 * X V fx Accessibility tab summary: The financial information of Jimball Incorporated are presented in rows 2 to 31. A statement for requirement is presented in rows 34 to 37. T-Account's for student A B C D E F G H I J K L M N O P 1 Jimball Incorporated has been operating for two years. On January 1 of last year, the accounting records had the following information: W N Cash $ 48,000 Accounts Receivable 12,000 6 Supplies 14,000 Notes Receivable 7,000 8 Equipment 180,000 9 Accounts Payable 35,000 10 Unearned Revenue 15,000 11 Wages Payable 1,000 12 Notes Payable (long term) 70,000 13 Common Stock 10,000 14 Additional Paid in Captial 90,000 15 Retained Earnings 40,000 16 17 During the current year, the company had the following occur: 18 19 a. Sold 1,000 shares of common stock for $42,000 with a par value of $1 per share. 1,000 $ 42,000 $ b. Received an invoice for work done this year by the contracted office custodians and paid 20 it with $2,000 cash. 2,000 21 c. Purchased $12,000 of additional supplies on account. $ 12,000 d. Incurred and paid employee wages of $22,000, 90% was paid in cash with the remainder 22 held on account until next year. S 22,000 90% e. Provided services for customers amounting to $64,000. 30% of this amount was mallasted in each CA non > = D Graded Worksheet + Calculation Mode: Automatic Workbook Statistics Give Feedback to Microsoft - 100% +A B C D E F G H 18 I J K L M N O P 19 a. Sold 1,000 shares of common stock for $42,000 with a par value of $1 per share. $ 1,000 $ 42,000 $ b. Received an invoice for work done this year by the contracted office custodians and paid 20 it with $2,000 cash. $ 2,000 21 c. Purchased $12,000 of additional supplies on account. S 12,000 d. Incurred and paid employee wages of $22,000, 90% was paid in cash with the remainder 22 held on account until next year. S 22,000 90% e. Provided services for customers amounting to $64,000. 30% of this amount was 23 collected in cash. 64,000 90% 24 f. Signed a note to borrow $25,000 from the bank due in 3 years. 25,000 25 g. Paid the local radio station $500 to run an ad each day of the week for a month. 500 h. Received an advance payment of $5,000 from a local business to provide consulting 26 services next year. 5,000 27 i. Collected $700 of principal on the note from a customer along with $30 of interest. 700 j. Purchased equipment for $18,000. Half of the cost was paid with a down payment, the 28 remainder will be paid in 5 years. 18,000 29 k. The utility bill of $2,500 arrived and was paid immediately. 2,500 30 L. Collected $10,000 on customer accounts. 10,000 31 m. Paid $2,500 in principal on a note along with $100 in interest. S 2,500 32 33 Required: 34 1. Record these transactions in the T-Accounts below (be sure to include beginning balances). 35 2. Create an Unadjusted Trial Balance on December 31 of the Current Year (ignore Income Tax Expense). 36 3. Create an Unadjusted Income Statement on December 31 of the Current Year (be sure to make Interest Expense negative). 37 4. Compute the Net Profit Margin for Jimball Incorporated rounded to two decimal places. 38 Note: Use the =ROUND() function and change your format to a percentage. 39 = & Graded Worksheet + Calculation Mode: Automatic Workbook Statistics Give Feedback to Microsoft - 100% +A1 X v fx Accessibility tab summary: The financial information of Jimball Incorporated are presented in rows 2 to 31. A statement for requirement is presented in rows 34 to 37. T-Account's for student A B C D 1JU E F Told G H I J K L M N O P 139 Note: Negative amounts or amounts to be deducted should be input and displayed as 140 negative values. All other answers should be input and displayed as positive values. 141 142 Jimball Incorporated 143 Unadjusted Income Statement 144 145 146 147 Advertising Expense 148 Wages Expense 149 Utilities Expense 150 Office Expense 151 Total Operating Expenses 152 153 Other Items: 154 Interest Revenue 155 Interest Expense 156 157 Income Tax Expense 158 159 160 Net Profit Margin 161 162 163 164 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work.