record JEs by date

Fox events for Year 2, 2023: (Keep Yr 2 Instructions \& Events at top of this Tab, \& do not remove Year 1 or CGS \& EI Tabs. See Additional Instructions below \& Common Student Errors before preparing Year 2 entries). 1/21 Pay dividends, buy 8,500 discs, $15 each, 40% crediv 60% cash \& sued by Pi Co. ( $300k&55% probable). 13/10 2/3 Sell 9,000 discs, $55 each on credit \& pay 15% to Owl per Yr1 contract that was expensed in Yr1AJE 13/10 3/5 Pay annual building loan interest, 90% of Accounts Payable to date, and 2022 income taxes, 13/17 4/30 Sell $250,000,3yr,9% bonds (payable 11/1 \& 5/1 ), 5% market rate & convertible to 12k CS shares. 14 (\& Prepare a complete Bond Amortization Schedule below the JE for this transaction). 5/30 Grant options with 3-year vesting to employees to buy 40,000 common shares for $15 each (MV: $15 now, $16 average for 2023) over 5-year exercise period; options currently valued at $270,000. 19/21 6/1 Receive $285,000 on issue of 5,000 CS shares (MV \$16) \& 4,000 10\% PS shares (Par \$50, MV \$55. 10K authorized) to Joe Owl, convertible to 11,000CS shares. 15 Bargain, lump-sum issue / 20 Year Z Year 1 Cos ReI 7/17 Complete last job, prepaid 5/9/22, pay 15% on 4/21/22 contract, collect 70% of customer AR \& leam that 6% of remaining AR are owed by banknupt customers who are not expected to pay. 9/13 8/1 Buy $350,000,4-year, 6%, PA State bonds (payable 6/1 ), 8% market rate, expecting to sell in 9 months \& 10,000 common shares from Chip Co. at $75 each ( $5 par); Chip had 40,000 outstanding before this purchase. (\& Prepare a complete Bond Amortization Schedule below the JE for this transaction). 16/17 9/2 Sell 1,900 discs, $60 each on credit, pay Pi per 8/1/2022 contract, receive $25,000 from client MJM advance for consulting services to be performed in January 2024,& buy 7,500 discs, $20 each on credit. 10/13 10/2S Order $30,000 supplies +8% sales tax (FOB shipping \& 3/20et 60 - Paid 11/5, Shipped 12/25, Received ffs 5 ). Approximately $1,000 of supplies are left now. 10 \& HC Principal 11/3C Declare $60,000 dividends, paying Jane Fox now but Joe Owl (who is vacationing in Italy) on 1/10. 15 12/31 Pay 2023 annual salaries based on 12% of pre-salary, cash-basis 2023 NI (based on appropriate JEs only). Pay broker $7,500+1 st of 5 annual $25,000 payments for 5 -yr truck lease (7-yr economic life, 10% implicit r. 18 12/31 Pay 2023 annual salaries based on 12% of pre-salary, cash-basis 2023 NI (based on appropriate JEs only). Pay broker $7,500+1 st of 5 annual $25,000 payments for 5 -yr truck lease (7-yr economic life, 10% implicit r : 18 1/2/2 Prepare AJEs for 2023 based on the following info \& on appropriate 2022 AJE's \& other 2022 info: Re-estimate Pi Co. lawsuit to be 75% probable with an expected range of $25,000 to $80,000 Change estimate of total useful life \& salvage value for furniture to 8 total years \& 10% salvage value. 13 21 Physical count shows 75 dises are missing (current replacement cost is $22 ). 10 / Lower of Cost or Market Prepare aging schedule that shows 4% of all accounts receivable are estimated to be uncollectible. Investments: Phila. Bond: 2% MV decrease:, Chip CS: $700kNI,$100k Divs declared \& 4%CS increase. Estimate a 30% US \& PA income tax rate and $200 of supplies are left unused in the supply cabinet. 9 Estimate a 30\% \& \& PA income tax rate and \$200 of supplies are left unused in the supply cabinet. 1/10 Pay remaining 2023 dividends, declare \& distribute 2 for 1 common stock split, \& perform MJM services. 2/28 Issue the 2023 Annual Report. Subsequent Event Period