Samson's Snow Plow, Inc. Chapter 8 Homework - March During the month of March, Samson increased his efforts to sell The Snow Lirard shovel Samson bought more shovels in an attempt to expand his merchandising business line. Samson's Snow Plow, ing engaged in the following business activities: Business Transactions 6. Plowed 17 parking lots for cash charging $75 per lot 64. Plowed for Stan's Cheese Boutique, Louis Plumbing Sys Sportswear Tim's Hardware and lower's Re-Sales customers in totaal of whom had paid in previous months 65. Collected from 6 customers for whom plowing services had been performed in previous months; $450 66. Paid loey Carmike and Samson's new employee, Egon Spengler, $12/hour for 140 hours of collective work 67. Paid for 5 gallons of flat an average price of $4.35/gallon 6. Paid $200 for March rent on the storefront building 69. Received payment for 2 shovels sold on credit in February within the discount period 70. Purchased Snow tired shovels on account for $19 each on March 9th Samson had 46 shovels in beginning inventory on March 1(26 shovels with a cost of $14 each and 20 shovels with a cost of $16 each) 71. Sold 50 Snow Lirard shovels on account for sin with terms 2/10, Samson continues to utilize the FIFO method of inventory costing 72. Paid the February utility bill which was accrued for at the end of February ME 73. Received the March utility for the storefront $60. The bill will be paid in April 74. Depreciation Expense for the second quarter $212.50 75. Samson's Snow Plow used the storage unit for the month of March (Adjust the prepaid rent account accordingly. 76. At the end of the month, Samson counted the remaining supplies and determined that $25 of supplies were still on hand 77. Accrued interest on the note payable with Rainbow Lake State Bank interest payment will be made at the beginning of the third quarter (April 2027). Mint: Calculate amount singPXRT Samson's note payable with Rainbow Lake State Bank is a $10,000 N 9 month note] 78. At the end of March, Samson estimated bad debts using the aging of accounts receivable method. (Hint: The aging schedule is provided on the back of this sheet Samson has chosen to use the following collectible percentages: 6-30 days 1, 31-60 days 5X, 61-90 days 10% and over 30 days ) 79. Samson was profitable during the month of March. As a result, the company must pay $42.51 in Income Taxes. The taxes will be paid at the beginning of the third quarter (April 2027) Samson's loan contract with Rainbow Lake State Bank requires that he provide GAAP financial statements at the end of every quarter. Samson started his business in October 2018. Therefore, quarter end dates are as follows: December 31, March 31, June 30, and September 30 Required: a. Record transactions (63) through (72) in a journal. b. Post the journal entries to T-accounts. (T-Accounts have the following beginning balonces) Cash $12.50 : AVR$250 0; hentory S 00Supplies $45.00 Prepoldet so m Aromated Deprecio $212 50 Todor S Accounts Payable $1,150 00 Deferred Arne S500 Inow You Poble $1,037.92; Notes Payable $10.000 . Common Stock $10,000: Retained Eamings $3,292 10 c. Prepare an unadjusted Trial Balance at March 31, 2027 d. Prepare adjusting entries for (73) through (79) and post them to the T-Accounts. e. Prepare an Adjusted Trial Balance at March 31, 2027. Prepare a MultStep Income Statement and Read ines Statement for the month ended March 31, 2017 wong with a classified Balance Sheet at March 31, 2027. calculate Current Ratio, Net Profit Margin, Inventory Turnover Ratio and Receivables Turnover Ratio as of March 31, 20227. .19 Check ures: Cash $11.564.22; Total Assets $26,453.72 Total Labs SHLOSS : Net Income Fol Samson's Snow Plow, Inc. Chapter 8 Homework - March During the month of March, Samson increased his efforts to sell The Snow Lirard shovel Samson bought more shovels in an attempt to expand his merchandising business line. Samson's Snow Plow, ing engaged in the following business activities: Business Transactions 6. Plowed 17 parking lots for cash charging $75 per lot 64. Plowed for Stan's Cheese Boutique, Louis Plumbing Sys Sportswear Tim's Hardware and lower's Re-Sales customers in totaal of whom had paid in previous months 65. Collected from 6 customers for whom plowing services had been performed in previous months; $450 66. Paid loey Carmike and Samson's new employee, Egon Spengler, $12/hour for 140 hours of collective work 67. Paid for 5 gallons of flat an average price of $4.35/gallon 6. Paid $200 for March rent on the storefront building 69. Received payment for 2 shovels sold on credit in February within the discount period 70. Purchased Snow tired shovels on account for $19 each on March 9th Samson had 46 shovels in beginning inventory on March 1(26 shovels with a cost of $14 each and 20 shovels with a cost of $16 each) 71. Sold 50 Snow Lirard shovels on account for sin with terms 2/10, Samson continues to utilize the FIFO method of inventory costing 72. Paid the February utility bill which was accrued for at the end of February ME 73. Received the March utility for the storefront $60. The bill will be paid in April 74. Depreciation Expense for the second quarter $212.50 75. Samson's Snow Plow used the storage unit for the month of March (Adjust the prepaid rent account accordingly. 76. At the end of the month, Samson counted the remaining supplies and determined that $25 of supplies were still on hand 77. Accrued interest on the note payable with Rainbow Lake State Bank interest payment will be made at the beginning of the third quarter (April 2027). Mint: Calculate amount singPXRT Samson's note payable with Rainbow Lake State Bank is a $10,000 N 9 month note] 78. At the end of March, Samson estimated bad debts using the aging of accounts receivable method. (Hint: The aging schedule is provided on the back of this sheet Samson has chosen to use the following collectible percentages: 6-30 days 1, 31-60 days 5X, 61-90 days 10% and over 30 days ) 79. Samson was profitable during the month of March. As a result, the company must pay $42.51 in Income Taxes. The taxes will be paid at the beginning of the third quarter (April 2027) Samson's loan contract with Rainbow Lake State Bank requires that he provide GAAP financial statements at the end of every quarter. Samson started his business in October 2018. Therefore, quarter end dates are as follows: December 31, March 31, June 30, and September 30 Required: a. Record transactions (63) through (72) in a journal. b. Post the journal entries to T-accounts. (T-Accounts have the following beginning balonces) Cash $12.50 : AVR$250 0; hentory S 00Supplies $45.00 Prepoldet so m Aromated Deprecio $212 50 Todor S Accounts Payable $1,150 00 Deferred Arne S500 Inow You Poble $1,037.92; Notes Payable $10.000 . Common Stock $10,000: Retained Eamings $3,292 10 c. Prepare an unadjusted Trial Balance at March 31, 2027 d. Prepare adjusting entries for (73) through (79) and post them to the T-Accounts. e. Prepare an Adjusted Trial Balance at March 31, 2027. Prepare a MultStep Income Statement and Read ines Statement for the month ended March 31, 2017 wong with a classified Balance Sheet at March 31, 2027. calculate Current Ratio, Net Profit Margin, Inventory Turnover Ratio and Receivables Turnover Ratio as of March 31, 20227. .19 Check ures: Cash $11.564.22; Total Assets $26,453.72 Total Labs SHLOSS : Net Income Fol