Question

Part 1 Instructions: Complete the following table and classify each account as indicated by the headers in each column. For the first two columns, indicate Asset (A) or Liability (L), Stockholders' equity account (SE) have been entered for you for the balance sheet accounts. For the income statement accounts indicate revenue (R) or expense (E) and then complete account classifications by putting an X on the appropriate columns. Part 2 Instructions: Complete the following financial statements. Complete the headers and then enter the account names and amounts based on your analysis in part one. Part 1 Instructions: Complete the following table and classify each account as indicated by the headers in each column. For the first two columns, indicate Asset (A) or Liability (L), Stockholders Equity Account (SE) have been entered for you for the Balance Sheet accounts. For the Income Statement accounts indicate Revenue (R) or Expense (E) and then complete T.O.T.E.S. Chart of Accounts with Balances Estimated Activity level based on sales forecast (# totes) 20,000 Projected Bal. Sheet or Inc. Stmt Account Amount Asset/Liab Rev/Exp Accounts Payable (A/P) 575 A X Accounts Receivable(A/R) 750 A X Advertising and Marketing Expenses (Ad *Mkt) $ 1,000 E X Capital Stock (Stock) S 17,500 SE X Cash S 2,500 A X Depreciation - Admin. Offices and Equipment (Depr. Admin) S 450 E X Depreciation: Production facility and Equipment (Depr. Prod) 600 E X Fabric S 17,000 A X Factory Utilities (mixed cost) S 1,500 E X Inventory S 1,800 A X Long-term note payable (LT N/P) S 30,000 L X Administrative salaries (Admin Salary) S 7,500 E X Production Manager's Salary (Prod. Mgr Salary) S 15,000 E X Property, Plant and Equipment (PPE) S 45,000 A X Retained Earnings S 1,975 SE X Sales Commissions (Sales Comm) S 10,100 E X Sales Revenue S 101,000 R X Thread, labels & misc. production raw materials (Thread+) S 800 A X Wages - Production workers (Prod Wages) $ 25,000 E X Use for Income Statement Accounts ONLY Cost Behavior Period Product Costs Fixed Variable Costs DM DL MOH X X

          Part 1 Instructions: Complete the following table and classify each account as indicated by the headers in each column. For the first two columns, indicate Asset (A) or Liability (L), Stockholders' equity account (SE) have been entered for you for the balance sheet accounts. For the income statement accounts indicate revenue (R) or expense (E) and then complete account classifications by putting an X on the appropriate columns. 
Part 2 Instructions: Complete the following financial statements. Complete the headers and then enter the account names and amounts based on your analysis in part one.
Part 1 Instructions: Complete the following table and classify each account as indicated by the headers in each column. For the first two columns, indicate Asset (A) or Liability (L), Stockholders Equity Account (SE) have been entered for you for the Balance Sheet accounts. For the Income Statement accounts indicate Revenue (R) or Expense (E) and then complete
T.O.T.E.S.
Chart of Accounts with Balances
Estimated Activity level based on sales forecast (# totes)
20,000 Projected Bal. Sheet or Inc. Stmt Account Amount Asset/Liab Rev/Exp Accounts Payable (A/P) 575 A X Accounts Receivable(A/R) 750 A X Advertising and Marketing Expenses (Ad *Mkt) $ 1,000 E X Capital Stock (Stock) S 17,500 SE X Cash S 2,500 A X Depreciation - Admin. Offices and Equipment (Depr. Admin) S 450 E X Depreciation: Production facility and Equipment (Depr. Prod) 600 E X Fabric S 17,000 A X Factory Utilities (mixed cost) S 1,500 E X Inventory S 1,800 A X Long-term note payable (LT N/P) S 30,000 L X Administrative salaries (Admin Salary) S 7,500 E X Production Manager's Salary (Prod. Mgr Salary) S 15,000 E X Property, Plant and Equipment (PPE) S 45,000 A X Retained Earnings S 1,975 SE X Sales Commissions (Sales Comm) S 10,100 E X Sales Revenue S 101,000 R X Thread, labels & misc. production raw materials (Thread+) S 800 A X Wages - Production workers (Prod Wages) $ 25,000 E X
Use for Income Statement Accounts ONLY Cost Behavior Period Product Costs Fixed Variable Costs DM DL MOH
X
X

part 1 instructions complete the following table and classify each account as indicated by the headers in each column for the first two columns indicate asset a or liability l stockholders e 64372

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