Transaction analysis -various account Fill the column below

Transaction/ Adjustment

Current Asset

Non Current asset

Current Liabilities

Non current liabilities

Stockholder Equity

Net income

Enter the transaction or adjustment letter in the first column and show the effect if any of each of the transaction or adjustment on the appropriate balance sheet category or on the income statement by entering the amount and indicating whether it is an addition (+) or substraction(- ) . You may also write the journal entries to the record each transaction or adjustment

1) Wages of $4,100 accrued at the end of the prior fiscal period were paid this fiscal period

2) Real estate taxes of $5,500 applicable to the current period have not been accrued

3) Interest on bonds payable has not been accrued for the current month. The company has outstanding $920,000 of 6.3% bonds.

4) The premium related to the bonds in part c has not been amortized for the current month. The current month amortization is $310

5) Based on past experience with its warranty program the estimated warranty expenses for the current period should be 0.4% of sales of $740,000

6) Analysis of the company income taxes indicates that taxes currently payable are $61,000 and that the deferred tax liability should be increased by $22,000

7) Income tax expenses of $1,400 for the current period is accrued. Of the accrual $400 represents deffered tax liabilities.

8) Bonds payable with a face amount of $15,000 are issued at a price of 98

9) Of the proceeds from bonds in part 8, $9,000 is used to purchase land for future expansion

10) Beacuse of warranty claims finished goods inventory costing is $128 is sent to customers to replace defective products.

11) A 3 month , 9% note payable with a face amount of $60,000 was signed. The bank made the loan on a discount basis

12) The next instalment of a long term serial bond requiring an annual principal repayment of $70,000 will become due within the current year

13) Recorded the financing (Capital) lease of a truck. The present value of the lease payment is $110,000 the total of the lease payment to be made is $136,000.

14) recorded company payroll for the month. Gross pay wa $21,000 net pay was $16,300 and various withholding liability account were credited for the difference.

15) Issued $52,000 of bonds payable at a price of 102

16) Adjusted the estimated liability under a warranty program by reducing previously accrued warranty expenses by $7,600

17) Retired $42,000 face amount of bonds payable with a carrying value of $41,600 calling them at a redemption value of 104

18) Accrued estimated annual health care costs for retirees $62,000 is expected to be paid within a year and $470,000 is expected to be paid in more than a year.

19) Wages of $465 for the last 3 days of the fiscal period have not been accrued

20) Interest of $340 on a bank loan has not been accrued

21) Interest on bonds payable has not been accrued for the current month. The company has outstanding $480,000 of 6.5% bonds

22) The discount related to the bonds in part 20 has not been amortized for the current month . The current month amortization is $150

23) Product warranties were honored during the month ; parts inventory items value at $1,660 were sent to customers making claims and cash refund of $820 were also made

24) During the fiscal period, advance payment from customers totalling $3,000 were received and recorded as sales revenues, The item will not be delivered to the customer until the next fiscal period. Record the appropriate adjustment.