Post all transactions to ledger, prepare adjusted trial balance, income statement, cash flows and balance sheet

SOLUTION 1:
Journal entries for the company Cook Corporations:
    Date
    Journal Titles
    Amount($)
    Amount($)
     
     
     
     
    Jan-01
    Cash
    50,000
     
     
     Common stock
     
    50,000
     
     (To record issue of common stock)
     
     
    
    
    
    
    Feb-03
    Inventory
    40,000
     
     
     Accounts payable
     
    40,000
     
     ( to record purchase of inventory)
     
     
    
    
    
    
    Mar-04
    Equipment
    60,000
     
     
     Cash
     
    15000
     
     9% Notes payable
     
    45000
     
    (To record purchase of equipment) 
     
     
    
    
    
    
    May 20
    Office supplies
    3000
     
     
     Cash
     
    3000
     
    (To record purchase of office supplies) 
     
     
    
    
    
    
    Apr-02
    Patent
    16000
     
     
     Cash
     
    16000
     
     (To record purchase of patent)
     
     
    
    
    
    
    May-01
    Land
    100,000
     
     
     Cash
     
    25000
     
     6% notes payable
     
    75000
     
     (To record purchase of land)
     
     
    
    
    
    
    Jun-06
    Cash
    8000
     
     
    Accounts receivable
     
    8000
     
    ( To record payment received) 
     
     
    
    
    
    
    Jul-05
    Accounts receivable
    15,000
     
     
     Sales
     
    15,000
     
     ( To record sales)
     
     
    
    
    
    
     
    Cost of goods sold
    10,000
     
     
    Inventory
     
    10,000
     
    ( To record sales) 
     
     
    
    
    
    
    Aug-08
    Accounts payable
    14,000
     
     
     Inventory
     
    14000
     
    ( To record purchase return) 
     
     
    
    
    
    
    Sep-07
    Cash
    90,000
     
     
     Sales
     
    90,000
     
    ( To record cash sales) 
     
     
    
    
    
    
    Oct-08
    Utilities expense
    1000
     
     
    Cash
     
    1000
     
    ( To record expenses) 
     
     
    
    
    
    
    Nov-01
    Prepaid insurance
    12,000
     
     
    Cash
     
    12,000
     
    ( To record purchase of insurance) 
     
     
    
    
    
    
    Nov-09
    Dividend
    2000
     
     
    Cash
     
    2000
     
     ( To record payment of dividend)
     
     
    
    
    
    
    Dec-10
    Salaries
    10,000
     
     
    Cash
     
    10,000
     
    ( To record expenses) 
     
     
    
    
    
    
    Dec-25
    Rent expense
    20,000
     
     
    Cash
     
    20,000
     
    ( To record expenses) 
     
     
    
    
    
    
    Dec-31
    Amortization expense
    1,000
     
     
     Patent
     
    1,000
     
    ( To record expenses) 
     
     
    
    
    
    
    Dec-31
    Interest expense
    3375
     
     
    Interest payable
     
    3375
     
    ( To record interest accrued) 
     
     
    
    
    
    
    Dec-31
    Interest expense
    3000
     
     
    Interest payable
     
    3000
     
     ( To record interest accrued) 
     
     
    
    
    
    
    Dec-31
    Office supplies expense
    1300
     
     
    Office supplies
     
    1300
     
    ( To record expenses) 
     
     
    
    
    
    
    Dec-31
    Depreciation expense-equipment
    2000
     
     
    Accumulated depreciation
     
    2000
     
     ( To record depreciation)
     
     
    
    
    
    
    Dec-31
    Insurance expense
    2000
     
     
    Prepaid insurance
     
    2000
SOLUTION 2:
Ledger Accounts for the Cook Corporations:
    Common...