There is a newly established MERCHANDISING COMPANY as of Jan 01, 2015. You can assume that it

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Question:

There is a newly established MERCHANDISING COMPANY as of Jan 01, 2015.
You can assume that it uses FIFO Inventory Flow Method, periodically.
You should prepare your SA by considering below items to be recorded to the Journal;

On the 1st of January, some capital from shareholders (1st economic event) is transferred to the company.
On the 1st of January, some loan from the creditors (banks) with 12% annual interest rate is deposited to the company’s bank account (2nd economic event).

During January, you will consider 18 more economic events to be registered to the Journal as directed below:

a). 3 inventory purchasing in 3 different date with 3 different purchasing prices,
b). 60% of purchased inventory is sold with 2 different date and 2 different prices,
c). 3 freight-in cost for the 3 purchasing (because they are purchased with the terms of FOB-Shipping bought),
d). 2 prepaid expenses,
e). 1 accrued expense,
f). 1 purchasing a vehicle in the beginning of January,
g). 1 purchasing equipment in the beginning of January,
h). 1 Freight-in cost for purchasing of equipment,
i). 1 Installation cost for the equipment,
j). 1 Maintenance cost for the equipment,
k). 2 adjustment entries with the bank,
l). 1 month depreciation registration for the Vehicle,
m). 1 month depreciation registration for the equipment,
n). 1 interest registration for the loan borrowed from the bank.

Post the above events to the Ledger