COURSE CODE :BCO114 COURSE NAME: ACCOUNTING I Task brief & rubrics Task Final: · Individual task · You must answer all the questions. · When solving problems, you must clearly explain all the steps you are doing, and why are you making those steps. · Show all your workings, a numeric answer is not enough. · You should submit a document in Word format. Formalities: · Use one page per answer. · Cover, Table of Contents, References and Appendix are excluded of the total wordcount. · Font: Arial 12,5 pts. · Text alignment: Justified. Submission: Week (13) – Via Moodle (Turnitin). Sunday May 9th. Weight: This task is a 100% of your total grade for this subject. It assesses the following learning outcomes: · Understand the nature and general purpose of financial statements. · Identify the steps in the accounting cycle, adjusting entries. · Closing temporary accounts. · Demonstrate understanding of the Balance Sheet and the accounting equation. · Apply acquired knowledge and skills to prepare an income statement and a statement of retained earnings. · Inventories and the cost of goods sold. Assignment: A) General Journals.(15 points) On 1 January 2020, ana Almeida began a new business, called Future Inc., a service company dedicated to developing digital marketing campaigns for financial institutions. The following transactions were completed by the business during January: 2 January: Issued 1000 shares of capital stock in exchange for her investment of €100,000 cash. 3 January: Purchased IT equipment for €50,000, paying €15,000 cash and signing a note payable for the balance. 7 January: Acquired furniture for the new office for 60,000, paying $10,000 cash and signing a note payable for the balance. 8 January: Borrowed €100,000 from a bank. 10 January: Billed customers €75,000 for services performed. B) Adjusting entries. (15 points) By the end of December 2020, Peter Ustinov, chief accountant of Pearl associates is working to finish his accounting for the month. He realizes that he still needs to prepare the adjusting entries, and he has the following information: 1. Salaries earned by employees that have not yet been recorded or paid amount to €15,600. 2. Depreciation of the IT equipment is based on an estimated life of 3 years. The straight-line method is used. Depreciation of the Furniture is based on an estimated life of 5 years. The straight-line method is used. IT equipment was acquired December 31st last year for a price of €1,500,000. Furniture was acquired June 30th 2020 for a value of €150,000. 3. The company signed an insurance contract by February 1st 2020 for one year, with a value of €45,000. 4. A 12-month bank loan in the amount of €100,000 had been obtained with an interest computed at an annual rate of 10 percent on July 31st 2020. The entire €100,000, plus all of the interest accrued over the 12-month life of the loan, is due in full on July 31st of the upcoming year. 5.-Unrecorded Income Taxes Expense acc ...

1. COURSE CODE :BCO114 COURSE NAME:
ACCOUNTING I Task brief & rubrics
Task
Final:
· Individual task
· You must answer all the questions.
· When solving problems, you must clearly explain all the steps
you are doing, and why are you making those steps.
· Show all your workings, a numeric answer is not enough.
· You should submit a document in Word format.
Formalities:
· Use one page per answer.
· Cover, Table of Contents, References and Appendix are
excluded of the total wordcount.
· Font: Arial 12,5 pts.
· Text alignment: Justified.
Submission: Week (13) – Via Moodle (Turnitin). Sunday May
9th.
Weight: This task is a 100% of your total grade for this subject.
It assesses the following learning outcomes:
· Understand the nature and general purpose of financial
statements.
· Identify the steps in the accounting cycle, adjusting entries.
· Closing temporary accounts.
· Demonstrate understanding of the Balance Sheet and the
accounting equation.
· Apply acquired knowledge and skills to prepare an i ncome
statement and a statement of retained earnings.
· Inventories and the cost of goods sold.

2. Assignment:
A) General Journals.(15 points)
On 1 January 2020, ana Almeida began a new business, called
Future Inc., a service company dedicated to developing digital
marketing campaigns for financial institutions. The following
transactions were completed by the business during January:
2 January: Issued 1000 shares of capital stock in exchange for
her investment of €100,000 cash.
3 January: Purchased IT equipment for €50,000, paying €15,000
cash and signing a note payable for the balance.
7 January: Acquired furniture for the new office for 60,000,
paying $10,000 cash and signing a note payable for the balance.
8 January: Borrowed €100,000 from a bank.
10 January: Billed customers €75,000 for services performed.
B) Adjusting entries. (15 points)
By the end of December 2020, Peter Ustinov, chief accountant
of Pearl associates is working to finish his accounting for the
month. He realizes that he still needs to prepare the adjusting
entries, and he has the following information:
1. Salaries earned by employees that have not yet been recorded
or paid amount to €15,600.
2. Depreciation of the IT equipment is based on an estimated
life of 3 years. The straight-line method is used. Depreciation of
the Furniture is based on an estimated life of 5 years. The
straight-line method is used.
IT equipment was acquired December 31st last year for a price
of €1,500,000.
Furniture was acquired June 30th 2020 for a value of €150,000.
3. The company signed an insurance contract by February 1st
2020 for one year, with a value of €45,000.

3. 4. A 12-month bank loan in the amount of €100,000 had been
obtained with an interest computed at an annual rate of 10
percent on July 31st 2020. The entire €100,000, plus all of the
interest accrued over the 12-month life of the loan, is due in full
on July 31st of the upcoming year.
5.-Unrecorded Income Taxes Expense accrued in December
amounts to €8,400. This amount will not be paid until January
15.
C) The company Mediaset has the below trial balance by
December 31st 2019.
1.- Prepare closing entries in general journal format. (20 points)
2.- Prepare an Income Statement. (10 points)
3.- Prepare a Balance Sheet. (10 points)
4.- Prepare a Statement of retained earnings (10 points)
Trial Balance
Company Mediaset.
December 31st 2020

4. Cash
25.369
Store (Buildings)
979.794
Office Furniture
45.698
Inventories
21.548
Unexpired insurance
20.000
Capital Stock

5. 300.000
Retained Earnings
100.000
Note Payable
295.899
Acc. Payable
85.125
Tax Payable
5.000
Acc. Depreciation
27.419
Acc Depreciation store
244.949
Dividend
12.000

6. Sales
1.125.000
COGS
996.182
Consulting expenses
1.100
Insurance expenses
950
Salary expenses
5.892
Utility expenses
3.164
Depreciation expense
9.140
Store depreciation expense

7. 48.990
Tax expense
13.565
TOTAL
2.183.391
2.183.391
D) Brief questions
1.- Define what is a balance Sheet and its use. (5 points)
2.- Define what is an Income Statement and its use. (5 points)
3.- Explain and give a numeric example of the differences
between LIFO, FIFO and Average methods for inventory
valuation. (10 points)
Rubrics
Descriptor
9-10
The student demonstrates an excellent understanding of the
concepts.
8-8.9
The student demonstrates a good understanding of the concepts.
7-7.9
The student demonstrates a fair understanding of the concepts.
6-6.9
The student demonstrates some, but insufficient understanding
of the concepts.
3-5.9
The student demonstrates insufficient understanding of the

8. concepts. They may mention some relevant ideas or concepts,
although it is clear that the relationship between them is not
understood by the student.
1-2.9
The student demonstrates insufficient understanding of the
concepts and does not mention any relevant ideas or concepts.
0
The student leaves the question blank or cheats.
Deng 1
Rui Deng
Professor Bowe
English 1005B, Section 15
3/22/2021
Your Name Is Important
Why is your name so important to you? And, do you know how
important a person's
name is? A person's name is each of our identities and
essentially use for our lives. We should
consider our name as the most potent word because you will
hear the word to your name the
most during your whole life. Whenever people ask my name, I
would tell them the correct

9. pronunciation of my name. Whenever they call my name next
time correctly, I would feel
respected and more important.
My name is Rui Deng; most people in America feel
special because this is a Chinese
Pinyin and is similar to "Ray" in English. Usually, when I meet
new friends, I would tell them
the spelling of my name, and if they have difficulty pronounce
it, I could let them call me Ray as
respect. I still remember how my name came from my
grandfather. Based on the Chinese
traditional culture, I could only have the first name with one
sound, and my parents should create
a name for my generation. My grandpa is a knowledgeable and
wise person, and he also named
my cousin and my younger brother. He names me as Rui in
Chinese（睿）, and it means “a
person who has farsighted and sensible.” In fact, my name
shapes my own personality as a
visionary person because I often think of something for the
future. For example, before my
family moved to the United States, my mother asked me if I was
willing to come or not. After a

10. decent view, I told my mother that if we could move to
America, I could have better education,
Commented [BME1]: Watch formatting and this
information in the left corner: double-space the paper
(change to double spacing setting in paragraph settings,
don’t actually add spaces between paragraphs) and only
include information shown here [style/ formatti ng]
Commented [BME2]: Nice title!
Commented [BME3]: And nice use of the question to
connect to the title and get readers into the topic!
Commented [BME4]: Since this answers the question it
seems like it could be the thesis, but the actual sentence
here isn’t formatted like the thesis. Can you revise this using
the ideas from the working thesis assignment page if it is
Thesis 1? [thesis]
And, can you add a clear thesis (Thesis 1 and Thesis 2) in the
paper for readers?
Commented [BME5]: Excellent background and details
about your name for logos!
Commented [BME6]: Possible Thesis 2 idea?
Commented [BME7]: Let’s choose another phrase here
[diction/ word choice]
Deng 2

11. and we also could have better life quality. That is one of the
critical reasons my parents could
give up everything in China and bring me to the United States.
There are many nicknames in the Always Running novel,
such as Big Red, Boffo, Cowboy
and Mad dog, etc. Those nicknames are so essential in this
novel because there create their own
identities. Those nicknames represent the police in this novel,
and they would have those names
because Luis Rodriguez thinks they are just another gang group
that always against him. In this
novel, nicknames are symbolic of a level either show in family,
gangster group, and police.
When Luis Rodriguez has named himself "Grillo" and his
brother "Rano" in Spanish, these two
nicknames represent their family levels. Cricket is a smaller
species than Frog, which means his
brother Rene has a higher level than Luis. At the beginning of
the novel, his brother Jose Rene
constantly argues with Luis Rodriguez and bullies him all the
time. Overall, a name, especially
Nickname is matters because it could identify each person's
characteristics in this novel.
In Washington Yea, Redskins Boo, by Greg Nasif, the

12. author discusses the football team
named the Washington Redskins, and he criticizes the name
shows racism against the Native
Americans. Nasif states: "Sports nicknames generally go for
certain things —creativity,
relevance, competitiveness, ferocity, mystique —and many
other things that don't describe a
Redskin" (cite). He explains that the sports team should go for
different types, but nothing fits
the team Redskins. It shows how important a name is when you
can not create it correctly, and it
causes Native Americans to start a demonstration in
Washington. Finally, the team of the
Washington Redskin renames to Washington Football Team for
the 2020 season.
In a short interview Father G Sees Past Gang Tattoos, To
the Heart with Father Gregory
Boyle, He talks about the story when he provides the service to
help the gangs to remove tattoos
and why the Latino gangs group is the matter with their name
even put the name on the wall.
Commented [BME8]: Again, great background and details
about your name in this paragraph! To help give this
paragraph purpose, can you connect it to a part of the
thesis? [thesis/ purpose]

13. Formatted: Font: Italic
Commented [BME9]: Can you add the top of the top bun-
who this is by and what it’s about overall? [develop/
context]
Commented [BME10]: Thesis 1 idea? [thesis/ purpose]
Commented [BME11]: There are great ideas about the
book here and names! Although these are on nicknames,
there’s a few separate ideas about nicknames that can be
developed further with quotes for logos- 1) gang nicknames,
2) the family nicknames after animals, and 3) the nicknames
for police. Can you make a quote sandwich for each idea
(perhaps not all, let’s pick the best one or two for logos) to
prove these ideas to readers? See the quote sandwich
worksheet on our Canvas module Wk 5-1 to help with this!
[develop/ logos]
And, since they are different ideas, let’s aim for one quote
sandwich/idea per body paragraph and leave out any ideas
that don’t help to prove a claim about names (like the
bullying idea, which doesn’t seem to relate as much)
[organization]
Commented [BME12]: “article title” [style]
Commented [BME13]: This is a great quote sandwich!
Let’s use this to help develop the quote sandwiches noted
above! For the bottom bun, though, let’s connect to the
specific thesis you have. It seems like Thesis 1 will be that
names are our identities- can you add here how the
Redskins and the quote show this idea? [thesis/ synthesize
information]

14. Commented [BME14]: At the end of this body paragraph,
and all the body paragraphs, can you add a transition
sentence to connect the main idea in this paragraph to the
main idea in the next paragraph? Use the transition
workshop on Canvas to help with this [organization/ flow]
Deleted: about
Commented [BME15]: “interview title” and can you add
who did the interview too? [style/ top bun]
Commented [BME16]: Good top bun for readers! Let’s just
rephrase this part a bit
Deng 3
Father G states: "I think I mention in the book how the principal
activity of most gang members
is writing their names on a wall, and that's because they want to
be known, as any human being
does. They want to be acknowledged and recognized as a person
who exists in the world. So,
knowing the name and that was something I learned early on, 25
years ago when I first walked
those projects, was to know everybody's name" (cite). Father G
says that the Latino gangs group
wants to be remembered and well recognized to put their name
on the wall. He spends many

15. times knowing their names before he starts his projects. Like
the gang's group, I can connect
with my name because I put my name onto a wall that school for
graduated students when I
graduated from high school. I wish I can be well known even I
left the place after.
Now, you can understand how important a person's name
is and why you should be the
matter you name. Each of our names is an identity and unique;
we should show respect to others'
names. Pronunciation for a name is not that matter because the
pronunciations represent the
history of a name, as long as when people call your name
respectfully. We should learn how to
let people understand each other names and the values of the
names.
Rui,
This is off to a great start! The quote sandwiches for the article
and the interview are
really effective already, and you have great ideas from Always
Running that will make great
quote sandwiches too! The introduction and conclusion are also
really effective as well.

16. For the next draft, let’s first add in clear sentences that explain
Thesis 1 and Thesis 2.
Then, let’s keep developing the quote sandwiches that are here,
mostly for the Always Running,
and then connect the bottom buns back to the thesis once you’ve
added it. Finally, let’s consider
adding in a paragraph with a quote sandwich about the source
that discusses pronunciation too!
Let me know if you’d like help with any of these areas and keep
developing what you have here!
Commented [BME17]: Can you add in the top bun the fact
that he wrote a book too so readers can get this? [develop/
context]
Deleted: .
Commented [BME18]: Great bottom bun so far and
connection back to your name! Can you add as well how
this can connect back to the thesis? So, it seems like Thesis
1 will be that names are our identities- how the fact they’re
writing names on walls and want to be recognized shows
this
[thesis/ synthesize information]
Commented [BME19]: This seems like a new idea, and
actually one that a reading talks about! Do you want to add
this in a body paragraph too? If not, let’s delete from the
conclusion since we don’t want to add new ideas in the
conclusion .
Commented [BME20]: Great call to action for readers!

17. [conclusion]
Deng 4
Reference
Rodriguez, Luis J. Always Running: La Vida Loca, Gang Days
in L.A. Atria Paperback, 2020.
Boyle, Gregory. “Father G Sees Past Gang Tattoos, To The
Heart.” NPR, NPR, 11 Mar. 2010,
www.npr.org/templates/story/story.php?storyId=124580071.
Washington Yea, Redskins BooBy Greg Nasif October 12,
2011Source:
http://www.dbknews.com/archives/article_e2c0d15d-3d51-5052-
acd2-f25e069515f8.html
Commented [BME21]: We’ll make a Works Cited page
later in the semester that uses MLA formatting