1. Wisco sold for merchandise for $225,000 on account which cost $170,000 to manufacture. Cash + Non-Cash = Liabilities + Contributed + Accumulated + Retained Assets Capital Other Earnings Comprehensive Income + 225,000 + 225,000 - 170,000 - 170,000 2. Wisco purchased for cash $110,000 of raw material inventory. Cash + Non-Cash = Liabilities + Contributed + Accumulated + Retained Assets Capital Other Earnings Comprehensive Income - 110,000 + 110,000 3. The company paid $25,000 in advance for an advertising campaign that would be aired next year. Cash + Non-Cash = Liabilities + Contributed + Accumulated + Retained Assets Capital Other Earnings Comprehensive Income - 25,000 + 25,000 4. Wisco paid its employees $15,000 for the month. Cash + Non-Cash = Liabilities + Contributed + Accumulated + Retained Assets Capital Earnings Comprehensive Income - 15,000 - 15,000 5. The company purchased $7,000 of supplies on account. Cash + Non-Cash = Liabilities + Contributed + Accumulated + Retained Assets Capital Earnings Comprehensive Income + 7,000 + 7,000 6. Wisco issued $25,000 of long-term debt. Cash + Non-Cash = Liabilities + Contributed + Accumulated + Retained Assets Capital Other Earnings Comprehensive Income + 25,000 + 25,000 7. The company used $10,000 of excess cash to purchase marketable securities. Cash + Non-Cash = Liabilities + Contributed + Accumulated + Retained Assets Capital Other Earnings Comprehensive Income - 10,000 + 10,000 8. Wisco purchased a machine for $22,000 in cash. Cash + Non-Cash = Liabilities + Contributed + Accumulated + Retained Assets Capital Other Earnings Comprehensive Income - 22,000 + 22,000 9. At the end of the year Wisco paid dividends of $5,000.
1. Wisco sold for merchandise for $225,000 on account which cost $170,000 to manufacture. Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Other Comprehensive Income + Retained Earnings + 225,000 + 225,000 - 170,000 - 170,000 2. Wisco purchased for cash $110,000 of raw material inventory. Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Other Comprehensive Income + Retained Earnings - 110,000 + 110,000 3. The company paid $25,000 in advance for an advertising campaign that would be aired next year. Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Other Comprehensive Income + Retained Earnings - 25,000 + 25,000 4. Wisco paid its employees $15,000 for the month. Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Comprehensive Income + Retained Earnings - 15,000 - 15,000 5. The company purchased $7,000 of supplies on account. Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Comprehensive Income + Retained Earnings + 7,000 + 7,000 6. Wisco issued $25,000 of long-term debt. Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Other Comprehensive Income + Retained Earnings + 25,000 + 25,000 7. The company used $10,000 of excess cash to purchase marketable securities. Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Other Comprehensive Income + Retained Earnings - 10,000 + 10,000 8. Wisco purchased a machine for $22,000 in cash. Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Other Comprehensive Income + Retained Earnings - 22,000 + 22,000 9. At the end of the year Wisco paid dividends of $5,000.