1. Record the preceding transactions in a horizontal statements model. In the Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change. If the account is not affected by the event, leave the cell blank. The beginning balances have been recorded as an example.

2. Prepare a schedule of cost of goods sold and an income statement.I'm having trouble with these problems

The following trial balance pertains to Benji's Grocery as of January 1, 2018: Account Title Cash Accounts receivable Merchandise inventory Accounts payable Common stock Retained earnings Beginning Balances $27,000 4,200 52,000 4,200 45,000 34,000 The following events occurred in 2018. Assume that Benji's uses the periodic inventory method. 1. Purchased land for $9,200 cash. 2. Purchased merchandise on account for $98,000, terms 3/10, n/45. 3. Paid freight of $1,100 cash on merchandise purchased FOB shipping point. 4. Returned $3,800 of defective merchandise purchased in Event 2. 5. Sold merchandise for $88,000 cash. 6. Sold merchandise on account for $93,000, terms 1/10, n/30. 7. Paid cash within the discount period on accounts payable due on merchandise purchased in Event 2 8. Paid $11,800 cash for selling expenses. 9. Collected $52,000 of the accounts receivable from Event 6 within the discount period. 10. Collected $41,000 of the accounts receivable but not within the discount period. 11. Paid $6,600 of other operating expenses. 12. A physical count indicated that $47,800 of inventory was on hand at the end of the accounting period. Required: a. Record the preceding transactions in a horizontal statements model. In the Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change. If the account is not affected by the event, leave the cell blank. The beginning balances have been recorded as an example, b. Prepare a schedule of cost of goods sold and an income statement. Complete this question by entering your answers in the tabs below. Req A Req B CGS Sched Req B Inc Stmt Record the preceding transactions in a horizontal statements model. In the Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing ac account is not affected by the event, leave the cell blank. The beginning balances have been recorded as an example. (Not every cell will require entry. Enter any decreases to acc with a minus sign.) Complete this question by entering your answers in the tabs below. Req A Req B CGS Sched Req B Inc Stmt Record the preceding transactions in a horizontal statements model. In the Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing activ account is not affected by the event, leave the cell blank. The beginning balances have been recorded as an example. (Not every cell will require entry. Enter any decreases to acco with a minus sign.) Event Statement of Cash Flows Cash Bal. 1 2. 27,000+ (9,200) + 0] + (1.100) 0] + 3. + 4. 5. 6. 7a. BENJI'S GROCERY Horizontal Statements Model Balance Sheet Income Statement Assets = Liabilities + Stockholders' Equity Net Accounts Merchandise Land Accounts Common Retained Revenue - Expenses - Receivable Income Inventory Payable Stock Earnings 4.200+ 52.000 + 4,200 + 45,000 + 34,000 0l + 9.200] = o + ol + 0 01 - 01 = 0 0 + 98,000 + 0] = 98,000+ 01 + 0 0-1 01 = 0 0l + 1,100+ 01 = = 0 + 0 + 01 0 0 01 = 0 0 0 + (3,800) + 0 = (3,800) + 0 + 0 0 01-1 0 = 0 01 + 0 0 + 0 = 0 + + 0l + 88,000 88,000 - 0 = 88,000 93,000+ ol + 0 = 0 ol + 0+ 93,000 93,0001 - 0 = 93,000 0 + + 0 = 1+1 01 + 0 01 - 01 = 0 01 + 0 + 0 = 01 + 0 01 - 0 = 0 01 + 0 + 0= 0 + 0l + (11,800 01 - 11,800 = (11,800) + + 01 + 01 = = 01 + 01 + + 0 0 0 01 = = 0 (520) + 01 + 0] = ] 01 + 01 + (520) ( - 0 = (520) (41,000) + 0 + 01 = 01 + ol + + 0 01 - 01 = 0 01 + 01 + 01 = 0 + 0+ (6,600) 6,600 = (6,600) + + 01 = 0 + 0 + ol $ $ $ 55,680 $ 147,300 + $ 9,200 = $ $ 98,400 $ 45,000+ 196,080 181,000 $ 18,400 162,080 (9,200) 0 (1,100) 0 88,000 OA 0 0 7b. ol + 0 + + | + + (11,800) + + (11,800) OA 8. 9a. 9b. 10. 11. 0 + 41,000+ (6,600) + 01 - 0 41,000fOA (6,600) OA 0 $ 100,300 12. Total $ 39,300 + Complete this question by entering your answers in the tabs below. Req A Req B CGS Sched Req B Inc Stmt Prepare a schedule of cost of goods sold. BENJI'S GROCERY Schedule of Cost of Goods Sold For the Year Ended December 31, 2018 Beginning inventory 1/1/2018 $ 52,000 Purchases Purchase discounts Purchase returns and allowances Transportation-in 0 Cost of goods available for sale Ending merchandise inventory Cost of goods sold