Problem 10-02A (Part 2) Oriole Corporation sells rock-climbing products and also operates an indoor climbing...
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Accounting
Problem 10-02A (Part 2)
Oriole Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2022, Oriole had the following transactions related to notes payable.
Sept. 1
Issued a $13,200 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Oriole uses a perpetual inventory system.)
Sept. 30
Recorded accrued interest for the Pippen note.
Oct. 1
Issued a $20,400, 9%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1.
Oct. 31
Recorded accrued interest for the Pippen note and the Prime Bank note.
Nov. 1
Issued a $30,000 note and paid $8,700 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 6% and matures in 12 months.
Nov. 30
Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note.
Dec. 1
Paid principal and interest on the Pippen note.
Dec. 31
Recorded accrued interest for the Prime Bank note and the vehicle note.
Post the above entries to the Notes Payable, Interest Payable, and Interest Expense accounts. (Post entries in the order of journal entries posted in the previous part of the question.)
Notes Payable
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose the end date of the accounting period
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit balance
choose the end date of the accounting period
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit balance
Interest Expense
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose the end date of the accounting period
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit balance
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit balance
Interest Payable
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit amount
choose a transaction date
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a debit balance
choose the end date of the accounting period
9/19/3010/110/3111/111/3012/112/3112/31 Bal.
enter a credit balance
Show the balance sheet presentation of notes payable and interest payable at December 31.
ORIOLECORPORATION Balance Sheet (Partial) choose the accounting period
For the Year Ended December 31, 2022December 31, 2022For the Month Ended December 31, 2022
select an opening subsection name
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item
$enter a dollar amount
enter a balance sheet item
enter a dollar amount
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