XOS Corporation (XOS) sells accounting-related memorabilia at a small store. The company was organized and began operations on January 1, 2016….

Events During January, 2016:

1. On January 1, the owner invested $100,000 cash in the company, receiving 1,000 shares of $2 par value common stock in exchange.

2. On January 1, XOS purchased furniture and fixtures for $30,000. Paid $5,000 cash down, and signed a promissory note with a 12% annual rate of interest for the balance of the purchase price. Note plus interest to be paid in 2 years.

6. During January, sales totaled $48,000 ($28,000 for cash and $20,000 on credit). The cost of the merchandise sold was $20,000. XOS uses a perpetual inventory system.

9. During January, a customer ordered 100 custom-made t-shirts saying “SOX ROX!”-for delivery in February, 2016.  XOS required payment in advance ($1,000) for the entire order.

Additional Information:

3. Prepare an unclassified Balance Sheet and Statement of Retained Earnings as of January 31, a single-step Income Statement, and a Statement of Cash Flows (Direct Method) for the month ended January 31. 

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more