Month ending January 31 Assets Cash Accounts Receivable Inventory Prepaid Rent Property, Plant & Equipment MixMax...

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Month ending January 31 Assets Cash Accounts Receivable Inventory Prepaid Rent Property, Plant & Equipment MixMax Company Comparative Balance Sheets Accumulated Depreciation Total Assets Liabilities & Shareowners' Equity Advances from Customers (Deferred Revenue) Accounts Payable Merchandise Accounts Payable Services Interest Payable Tax Payable Current Portion - Long Term Debt Long Term Debt Common Stock Retained Earnings Total Liabilities & Shareowners' Equity Check that Assets = Liabilities + Owners' Equity Notes to the Consolidated Financial Statements: $ $ $ $ 1/1/2021 8,400 1,600 7,000 3,000 0 0 20,000 $ 1,400 3,600 200 0 0 0 0 13,000 1,800 20,000 0 $ 11,000 7,600 10,000 2,500 45,000 $ 1/31/2021 $ (675) 75,425 800 5,100 1,275 450 3,200 6,373 38,627 13,000 6,600 75,425 1 The MixMax Company did not issue common stock during January 20x1 0 Change 2,600 6,000 3,000 (500) 45,000 (675) 55,425 (600) 1,500 1,075 450 3,200 6,373 38,627 0 4,800 55,425 0 MixMax Company Statement of Cash Receipts & Disbursements Cash Receipts Collections from Credit Customers (AR) Advances from Customers Total Cash Receipts Cash Disbursements Payments to Suppliers of Merchandise Payments to Suppliers of Services Total Cash Disbursements Change in Cash Thought Question: Required: $ Ş Jan-21 20,500 2,900 23,400 16,500 4,300 20,800 $2,600 Although the balances in Property, Plant & Equipment (PPE) and Long-term Debt (LTD) increased, there was neither a cash payment for the purchase of the PPE nor a cash receipt for long-term borrowing in the statement of cash receipts and disbursements. Why' Prepare journal entries for all of the events that occurred during January 2001. b Prepare an income statement for January 2001 Month ending January 31 Assets Cash Accounts Receivable Inventory Prepaid Rent Property, Plant & Equipment MixMax Company Comparative Balance Sheets Accumulated Depreciation Total Assets Liabilities & Shareowners' Equity Advances from Customers (Deferred Revenue) Accounts Payable Merchandise Accounts Payable Services Interest Payable Tax Payable Current Portion - Long Term Debt Long Term Debt Common Stock Retained Earnings Total Liabilities & Shareowners' Equity Check that Assets = Liabilities + Owners' Equity Notes to the Consolidated Financial Statements: $ $ $ $ 1/1/2021 8,400 1,600 7,000 3,000 0 0 20,000 $ 1,400 3,600 200 0 0 0 0 13,000 1,800 20,000 0 $ 11,000 7,600 10,000 2,500 45,000 $ 1/31/2021 $ (675) 75,425 800 5,100 1,275 450 3,200 6,373 38,627 13,000 6,600 75,425 1 The MixMax Company did not issue common stock during January 20x1 0 Change 2,600 6,000 3,000 (500) 45,000 (675) 55,425 (600) 1,500 1,075 450 3,200 6,373 38,627 0 4,800 55,425 0 MixMax Company Statement of Cash Receipts & Disbursements Cash Receipts Collections from Credit Customers (AR) Advances from Customers Total Cash Receipts Cash Disbursements Payments to Suppliers of Merchandise Payments to Suppliers of Services Total Cash Disbursements Change in Cash Thought Question: Required: $ Ş Jan-21 20,500 2,900 23,400 16,500 4,300 20,800 $2,600 Although the balances in Property, Plant & Equipment (PPE) and Long-term Debt (LTD) increased, there was neither a cash payment for the purchase of the PPE nor a cash receipt for long-term borrowing in the statement of cash receipts and disbursements. Why' Prepare journal entries for all of the events that occurred during January 2001. b Prepare an income statement for January 2001

Answer rating: 100% (QA)

Answers are as follows 01 Journal Entries Journal Entries Ref Account Debit Credit 1 Accounts Receiv... View the full answer