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I having trouble with this problem. Can someone out there help me? John Thildore, a retired army officer, opened Thildore\'s Catering Service. As his accountant, analyze the transactions listed and present them in proper form. a. The analysis of the transactions by using the expanded accounting equation. b. A balance sheet showing the financial position of the firm before opening on October 31, 201X. C. An income statement for the month of November. d. A statement of owner\'s equity for November. e. A balance sheet as of November 30, 201X. 201X John Thildore invested $25,000 in the catering business from his personal savings account. Oct. 25 27 Bought equipment for cash from Small Co., $1,200. 28 Bought additional equipment on account from Ryan Co., $800. 29 Paid $400 to Ryan Co. as partial payment of the Oct. 28 transaction (You should now prepare your balance sheet as of October 31, 201X.) Nov. 1 Catered a graduation and collected cash, $2,200. 5 Paid salaries of employees, $550. 8 Prepared desserts for customers on account, $250. 10 Received $80 cash as partial payment of Nov. 8 transaction. 15 Paid telephone bill, $50 17 Paid his home electric bill from the company\'s checkbook, $120. 20 Catered a wedding and received cash, $2,500 25 Bought additional equipment on account, $1,300 28 Rent expense due but unpaid, $650. 30 Paid supplies expense, $550. Solution a. b. c. d.EventAssetsLiabilitiesOwners equityCash+Accounts receivable+Equipment=Accounts payable+John capital-John withdrawl+Revenue-Salaries expense-Telephone bill-Rent expense- Supplies expenseOct 25 25,000 25,000Oct 27 -1,200 1,200Oct 28 800 800Oct 29 -400 -400Total 23,400 - 2,000 400 25,000Nov 1 2,200 2,200Nov 5 -550 550Nov 8 250 250Nov 10 80 -80Nov 15 -50 50Nov 17 -120 120Nov 20 2,500 2,500Nov 25 1,300 1,300Nov 28 650 650Nov 30 -550 550Total 26,910 170 3,300 2,350 25,000 120 4,950 550 50 650 550.

The following are the balances in the accounts for Joan Miller Advertising Agency as of January 31, 2010: Totals $14,660 14,660 During the month of February, the agency engaged in the following transactions: Feb. 1 Received an additional investment of cash from Joan Miller, $6,000. Feb. 2 Purchased additional office equipment with cash, $800. Feb. 5 Received art equipment transferred to the business from Joan Miller, $1,400. Feb. 6 Purchased additional office supplies with cash, $80 Feb. 7 Purchased additional art supplies on credit from Taylor Supply Company, $500. Feb. 8 Completed the series of advertisements for Marsh Tire Company that began on January 31, and billed Marsh Tire Company for the total services performed, including the accrued revenues that had been recognized in January of $200 (see accounts receivable). The total bill is $800. Feb. 9 Paid the secretary for two weeks\' wages, $600. Feb. 12 Paid the amount due to Morgan Equipment for the office equipment purchased last month $1,500 Feb. 13 Accepted an advance fee in cash for artwork to be done for another agency, $1,800. Feb. 14 Purchased a copier from Morgan Equipment for $2,100, paying $250 in cash and agreeing to pay the rest in equal payments over the next five months. Feb. 15 Performed advertising services and accepted a cash fee, $1,050. Feb. 16 Received payment on account from Ward Department Stores for services performed last month, $2,800. Feb. 19 Paid amount due for the telephone bill that was received and recorded at the end of January , $70. Feb. 20 Performed advertising services for Ward Department Stores and agreed to accept payment next month, $3,200. Feb. 21 Performed art services for a cash fee, $580. Feb. 22 Received and paid the utility bill for February, $110. Paid the secretary for two weeks\' wages, $600. Feb. 26 Paid the rent for March in advance, $400. Feb. 27 Received the telephone bill for February, which is to be paid next month, $80. Feb. 28 Paid out cash to Joan Miller as a withdrawal for personal living expenses, $1,400. At the end of February, adjustments are made for the following: a. One month\'s prepaid rent has expired. b. One month\'s prepaid insurance has expired, $40. c. An inventory of art supplies reveals $720 of supplies are still on hand on February 28th. d. An inventory of office supplies reveals $300 in office supplies have been used in February. e. Depreciation on the Art equipment for February is calculated to be $90. f. Depreciation on the Office equipment for February is calculated to be $100. g. Art services performed for which payment has been received in advance total $1,400 h. Advertising services performed that will not be billed until March total $340. i. Three days\' worth of secretarial wages had accrued by the end of February. Required 1. Prepare the general journal entries the transactions completed in February 2010 and the general journal entires the adjustments neccessary at the end of February. 2. T-Account for the .

ACCT 215 CT Accounting Cycle Problem The John Marshall Com.pdf

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ACCT 215 (CT) Accounting Cycle Problem The John Marshall Company, Inc., which provides consulting services to major utility companies, was formed on January 2 of this year. Transactions completed during the first year of operation were as follows: January 2 Issued 600,000 shares of stock for $10,300,000. January 10 Acquired equipment in exchange for $2,600,000 cash and a $5,100,000 note payable. The note is due in ten years February 1 Paid $12,000 for a business insurance policy covering the two on February 1. February 22 Purchased $900,000 of supplies on account March 1 Paid wages of $185,600 March 23 Billed $2,810,000 for services rendered on account April 1 Paid $120,000 of the amount due on the supplies purchased February 22. April 17 Collected $300,000 of the accounts receivable May 1 Paid wages of $200,400. May 8 Received and paid bill for $96,000 for utilities. May 24 Paid $44,000 for sales commissions. June 1 Made the first payment of 250,000 on the note issued January 10. The payment consisted of $50,000 interest and $200,000 applied against the principal of the note. June 16 Billed customers for $520,000 of services rendered. June 30 Collected $310,000 on accounts receivable. July 10 Purchased $150,000 of supplies on account. August 25 Paid $155,000 for administrative expenses. September 23 Paid $31,000 for warehouse repairs. October 1 Paid general wages of $91,000. November 20 Purchased supplies for $61,000 cash. December 15 Collected $145,000 in advance for services to be provided in December and January. December 30 Declared and paid a $55,000 dividend to shareholders. The chart of accounts that Marshall Company, Inc. uses is as follows: Assets: 101 Cash 102 Accounts receivable 103 Supplies 104 Prepaid insurance 110 Equipment 112 Accumulated depreciation Liabilities: 201 Accounts payable 202 Unearned service revenue 203 Wages payable 210 Interest payable 220 Notes payable Stockholders Equity: 301 Common stock 310 Retained earnings 320 Dividends Revenues: 401 Service revenue Expenses: 501 Wage expense 502 Utility expense 503 Selling expense 504 Administrative expense 505 Repairs expense 506 Insurance expense 507 Supplies expense 510 Depreciation expense 520 Interest expense Other: 601 Income summary REQUIRED: Utilizing the information provided above, complete the following steps in an Excel workbook (Template provided): 1. Journalize the transactions for the year. 2. Post the journal entries to a T account. 3. Prepare an unadjusted trial balance as of December 31. 4. Journalize and post adjusting entries to the T accounts based on the following additional information: a. Eleven months of the insurance policy expired by the end of the year. b. Depreciation for equipment is $410,000. c. The company provided $92,000 of services related to the advance collection of December 15. d. There are $545,000 of supplies on hand at the end of the year. e. An additional $185,000 of interest has accrued on the note by the end of the year. f. Mars.

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6. Entry and trial balance preparation. Lee Adkins is a portra.docx

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6. Entry and trial balance preparation . Lee Adkins is a portrait artist. The following schedule represents Lee’s combined chart of accounts and trial balance as of May 31. Account number Account name Debit Credit 110 Cash $ 2,700 120 Accounts Receivable 12,100 130 Equipment and Supplies 2,800 140 Studio 45,000 210 Accounts Payable $2,600 310 Lee Adkins, Capital 57,400 320 Lee Adkins, Drawing 30,000 410 Professional Fee Revenue 39,000 510 Advertising Expense 2,300 520 Salaries Expense 2,100 540 Utilities Expense 2,000 $99,000 $99,000 The general ledger also revealed account no. 530, Legal and Accounting Expense. The following transactions occurred during June: 6/2 Collected $3,000 on account from customers 6/7 Sold 25% of the equipment and supplies to a young artist for $700 cash 6/10 Received a $300 invoice from the accountant for preparing last quarter's financial Statements. 6/15 Paid $1,900 to creditors on account. 6/27 Adkins withdrew $2,000 cash for personal use. 6/30 Billed a customer $3,000 for a portrait painted this month. a. Record the necessary journal entries for June on page 2 of the company’s general journal. (See Exhibit 2.6) b. Open running balance ledger “T” accounts by entering account titles, account numbers, and May 31 balances. (See exhibit 2.3 and 2.4) c. Post the journal entries to the “T” accounts. d. Prepare a trial balance as of June 30. (See exhibit 2.9) 7. Journal entry preparation. On January 1 of the current year, Peter Houston invested $80,000 cash into his companyMuniServ.The cash was obtained from an owner investment by Peter Houston of $50,000 and a $30,000 bank loan. Shortly thereafter, the company acquired selected assets of a bankrupt competitor. The acquisition included land ($10,000), a building ($40,000), and vehicles ($10,000). MuniServ paid $45,000 at the time of the transaction and agreed to remit the remaining balance due of $15,000 (an account payable) by February 15. During January, the company had additional cash outlays for the following items: Purchases of store equipment $4,600 Note payment 500 Salaries expense 2,300 Advertising expense 700 The January utility bill of $200 was received on January 31 and will be paid next month. MuniServ rendered services to clients on account amounting to $9,400. All customers have been billed; by month end, $3,700 had been received in settlement of account balances. Instructions a. Present journal entries that reflect MuniServ's January transactions, including the $80,000raised from the owner investment and loan. (See exhibit 2.6) b. Compute the total debits, total credits, and ending balance that would befound in the company's Cash account. (Post to “T” Accounts, see exhibit 2.3 and 2.4) c. Determine the amount that would be shown on the January 31 trial balance for Accounts Payable. Is the balance a debit or a credit? .

1. From the following trial balance, identify which statement each title will appear on: a. Income statement (IS) b. Statement of owner’s equity (OE) c. Balance sheet (BS) Bradford Co. Trial Balance Nov. 30, 201X Debits Credits A. Cash 600 B. Computer 100 C. Computer Equipment 1,000 D. Accounts Payable 800 E. L. Bradford, Capital 200 F. L. Bradford, Withdrawals 500 G. Legal Fees Earned 1,500 H. Consulting Fees Earned 300 I. Wage Expense 200 J. Supplies Expense 250 K. Internet Advertising Expense 150 Totals 2,800 2,800 2. SANCHEZ COMPUTER CENTER The Sanchez Computer Center created its chart of accounts as follows: Chart of Accounts as of July 1, 201X Assets Revenue 1000 Cash 4000 Service Revenue 1020 Accounts Receivable Expenses 1030 Supplies 5010 Advertising Expense 1080 Computer Shop Equipment 5020 Rent Expense 1090 Office Equipment 5030 Utilities Expense Liabilities 5040 Phone Expense 2000 Accounts Payable 5050 Supplies Expense Owner’s Equity 5060 Insurance Expense 3000 Freedman, Capital 5070 Postage Expense 3010 Freedman, Withdrawals You will use this chart of accounts to complete the continuing problem. The following problem continues. The balances as of July 31 have been brought forward in the working papers that accompany this text. Tasks a. Set up T accounts in a ledger. b. Record transactions k through s in the appropriate T accounts. c. Foot and take the balances of the T accounts where appropriate. d. Prepare a trial balance at the end of August. e. Prepare from the trial balance an income statement, statement of owner’s equity, and a balance sheet for the two months ending with August 31, 201X. o Received the phone bill for the month of July, $155. o Paid $150 (check #8099) for insurance for the month. o Paid $200 (check #8100) of the amount due from transaction d in Chapter 1. o Paid advertising expense for the month, $1,400 (check #8101). o Billed a client (Jeannine Sparks) for services rendered, $850. o Collected $900 for services rendered. o Paid the electric bill in full for the.

The John Marshall Company Inc which provides consulting s.pdf

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The John Marshall Company, Inc., which provides consulting services to major utility companies, was formed on January 2 of this year. Transactions completed during the first year of operation were as follows: January 2 - Issued 600,000 shares of stock for $10,300,000. January 10 - Acquired equipment in exchange for $2,600,000 cash and a $5,100,000 note payable. The note is due in ten years. February 1 - Paid $12,000 for a business insurance policy covering the two-year period beginning on February 1. February 22 - Purchased $900,000 of supplies on account March 1 - Paid wages of $185,600 March 23 - Billed $2,810,000 for services rendered on account April 1 - Paid $120,000 of the amount due on the supplies purchased February 22. April 17 - Collected $300,000 of the accounts receivable May 1 - Paid wages of $200,400. May 8 - Received and paid bill for $96,000 for utilities. May 24 - Paid $44,000 for sales commissions. June 1 - Made the first payment of 250,000 on the note issued January 10. The payment consisted of $50,000 interest and $200,000 applied against the principal of the note. June 16 - Billed eustomers for $520,000 of services rendered. June 30 - Collected $310,000 on accounts receivable. July 10 - Purchased $150,000 of supplies on account. August 25 - Paid $155,000 for administrative expenses. September 23 - Paid $31,000 for warehouse repairs. October 1 - Paid general wages of $91,000. November 20 - Purchased supplies for $61,000 cash. December 15 - Collected $145,000 in advance for services to be provided in December and January. December 30 - Declared and paid a $55,000 dividend to shareholders.Assets: 101102CashAccountsreceivable 103 Supplies 104 Prepaid insurance 110 Equipment 112 Accumulated depreciation Liabilities: 201 Accounts payable 202 Unearned service revenue 203 Wages payable 210 Interest payable 220 Notes payable Stockholders' Equity: 301 Common stock 310 Retained eamings 320 Dividends Revenues: 401 Service revenue Expenses: 5015025035045055065075105200ther:601Wageexpense UtilityexpenseSellingexpenseAdministrativeexpenseRepairsexpenseInsuranceexpense SuppliesexpenseDepreciationexpenseInterestexpenseIncomesummary1. Journalize the transactions for the year. 2. Post the journal entries to a T account. 3. Prepare an unadjusted trial balance as of December 31 . 4. Journalize and post adjusting entries to the T accounts based on the following additional information: a. Eleven months of the insurance policy expired by the end of the year. b. Depreciation for equipment is $410,000. c. The company provided $92,000 of services related to the advance collection of December 15 . d. There are $545,000 of supplies on hand at the end of the year. e. An additional $185,000 of interest has accrued on the note by the end of the year. f. Marshall accrued wages of $215,000 at the end of the ear. 5. Prepare an adjusted trial balance as of December 31 . 6. Prepare a single-step income statement and statement of retained eamings for the year.

The John Marshall Company Inc which provides consulting s.pdf

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Recording Transactions (Including Adjusting and Closing Entries)- Prep.pdf

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Recording Transactions (Including Adjusting and Closing Entries), Preparing Financial Statements, and Performing Ratio Analysis Ben and Kelly Perry began operations of their Roof repair company (Perry Roofing, Inc.) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, was as follows: Debit Credit Cash 7,000 Accounts Receivable 5,000 Supplies 9,000 Equipment Accumulated Depreciation (on equipment) Intangible assets (long term, not detailed to simplify) 8,000 Accounts Payable 6,000 Notes Payable Wages payable Interest Payable Income Taxes Payable Unearned revenue Common Stock (50,000 shares, $0.10 par value) 5,000 Additional Paid-in Capital 10,000 Retained Earnings 8,000 Service revenue Depreciation expense Supplier expense Wage Expense General and Administrative Expense Interest Expense Income Tax Expense Totals 29,000 29,000 Transactions during 2021 follow: Borrowed $18,000 cash on July 1, 2021, signing a one-year, 10 percent note payable. Purchased equipment for $20,000 cash on July 1, 2021. Sold 10,000 additional shares of capital stock for cash at $1.1 market value per share at the beginning of the year. Earned $110,000 in revenues for 2021, including $30,000 on credit and the rest in cash. Incurred General and Administrative expenses of $16,000 for 2021, including $5,000 on credit and the rest paid with cash. Purchased $12,000 of supplies: $4,000 was paid in cash with the rest on account. Collected accounts receivable, $18,000. Paid accounts payable, $9,000. Paid 50,000 cash for wage expense. Received a $2,000 deposit on work to start January 15, 2022. Declared and paid a cash dividend, $5,000. Data for adjusting entries: Supplies of $5,000 were counted on December 31, 2021. Depreciation for 2021, $2,500. Interest accrued on notes payable (to be computed). Wages earned since the December 24 payroll but not yet paid, $800. Income tax expense was $9,000, payable in 2022. Required (all in an Excel file with separate spreadsheets): Set up T-accounts for the accounts on the trial balance and enter beginning balances. 1) Prepare journal entries for transactions ( a ) through ( k ) and 2) Post them to the T-accounts. 1) Journalize the adjusting entries ( l ) through ( p ) and 2) Post them to the T-accounts. Prepare a trial balance, with columns of both unadjusted and adjusted. Prepare: an income statement (including earnings per share), statement of stockholders' equity, and balance sheet. Debit Credit Cash 7,000 Accounts Receivable 5,000 Supplies 9,000 Equipment Accumulated Depreciation (on equipment) Intangible assets (long term, not detailed to 8,000 simplify) Accounts Payable 6,000 Notes Payable Wages payable Interest Payable Income Taxes Payable Unearned revenue Common Stock (50,000 shares, $0.10 par value) 5,000 Additional Paid-in Capital 10,000 Retained Earnings 8,000 Service revenue Depreciation expense Supplier expense Wage Expense General and Administrative Expense Interest Expense Inc.

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AWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docx

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AWeek Five Exercise Assignment Financial Ratios 1. Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10: Edison Stagg Thornton Cash $4,000 $2,500 $1,000 Short-term investments 3,000 2,500 2,000 Accounts receivable 2,000 2,500 3,000 Inventory 1,000 2,500 4,000 Prepaid expenses 800 800 800 Accounts payable 200 200 200 Notes payable: short-term 3,100 3,100 3,100 Accrued payables 300 300 300 Long-term liabilities 3,800 3,800 3,800 a. Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why? 2. Computation and evaluation of activity ratios. The following data relate to Alaska Products, Inc: 20X5 20X4 Net credit sales $832,000 $760,000 Cost of goods sold 440,000 350,000 Cash, Dec. 31 125,000 110,000 Average Accounts receivable 180,000 140,000 Average Inventory 70,000 50,000 Accounts payable, Dec. 31 115,000 108,000 a. Compute the accounts receivable and inventory turnover ratios for 20X5. Alaska rounds all calculations to two decimal places. 3. Profitability ratios, trading on the equity. Digital Relay has both preferred and common stock outstanding. The company reported the following information for 20X7: Net sales $1,500,000 Interest expense $120,000 Income tax expense $80,000 Preferred dividends $25,000 Net income $130,000 Average assets $1,100,000 Average common stockholders' equity $400,000 a. Compute the profit margin ratio, the return on equity and the return on assets, rounding calculations to two decimal places. b. Does the firm have positive or negative financial leverage? Briefly explain. 4. Horizontal analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow. 20X2 20X1 Current Assets $76,000 $80,000 Property, Plant, and Equipment (net) 99,000 90,000 Intangibles 25,000 50,000 Current Liabilities 40,800 48,000 Long-Term Liabilities 143,000 160,000 Stockholders’ Equity 16,200 12,000 Net Sales 500,000 500,000 Cost of Goods Sold 332,500 350,000 Operating Expenses 93,500 85,000 Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work. 5. Vertical analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow. 20X2 20X1 Current Assets $ 76,000 $ 80,000 Property, Plant, and Equipment (net) 99,000 90,000 Intangibles 25,000 50,000 Current Liabilities 40,800 48,000 Long-Term Liabilities 143,000 160,000 Stockholders’ Equity 16,200 12,000 Net Sales 500,000 500,000 Cost of Goods Sold 332,500 350,000 Operating Expenses 93,500 85,000 Prepare a vertical analysis for 20X1 and 20X2. Briefly comment on the results of your work. 6. Ratio computation. The financial statements of the Lone Pine Company follow. LONE PINE COMPANY Comparat ...

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AWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docx

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AWeek One Exercise Assignment Basic Accounting Equations 1.Recognition of normal balances The following items appeared in the accounting records of Triguero's, a retail music store that also sponsors concerts. Classify each of the items as an asset, liability, revenue, or expense from the company's viewpoint. Also indicate the normal account balance of each item. a. The albums, tapes, and CDs held for sale to customers. b. A long-term loan owed to Citizens Bank. c. Promotional costs to publicize a concert. d. Daily sales of merchandise sold, e. Amounts due from customers, f. Land held as an investment, g. A new fax machine purchased for office use. h. Amounts to be paid in 10 days to suppliers, i. Amounts paid to a mall for rent. 2.Basic journal entries The following April transactions pertain to the Jennifer Royall Company: Apr. 1 Jennifer Royall invested cash of $15,000 and land valued at $10,000into the business. Apr.5 Provided $1,200 of services to Jason Ratchford, a client, on account. Apr.9 Paid $250 of salaries to an employee. Apr.14 Acquired a new computer for $3,200, on account. Apr.20 Collected $800 from Jason Ratchford for services provided on April 5. Apr.24 Borrowed $7,500 from BestBanc by securing a six-month loan. Prepare journal entries (and explanations) to record the preceding transactions and events. 3. Balance sheet preparation. The following data relate to Preston Company as of December 31, 20XX: Building $44,000 Accounts receivable $24,000 Cash 17,000 Loan payable 30,000 J. Preston, Capital 65,000 Land 21,000 Accounts payable ? Prepare a balance sheetas of December 31, 20XX. (See Exhibit 1.1 and 1.4) 4. Basic transaction processing. On November 1 of the current year, Richard Parker established a sole proprietorship. The following transactions occurred during the month: 1: Parker invested $19,000 into the business for $19,000 in common stock. 2: Paid $9,000 to acquire a used minivan. 3: Purchased $1,800 of office furniture on account. 4: Performed $2,100 of consulting services on account. 5: Paid $300 of repair expenses. 6: Received $800 from clients who were previously billed in item 4. 7: Paid $500 on account to the supplier of office furniture in item 3. 8: Received a $150 electric bill, to be paid next month. 9: Parker withdrew $600 from the business. 10: Received $250 in cash from clients for consulting services rendered. Instructions a. Arrange the following asset, liability, and owner’s equity elements of the accounting equation: Cash, Accounts Receivable, Office Furniture, Van, Accounts Payable, Common Stock/Dividends, and Revenues/Expenses. (See Exhibit 1.5) b. Record each transaction on a separate line. After all transactions have been recorded, compute the balance in each of the preceding items. c. Answer the following questions for Parker. (1) How much does the company owe to its creditors at month-end? On which financial statement(s) would this information be found? ...

AC1220 ACCOUNTING ILab 2.2AC1220 Lab.docx

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AC1220 ACCOUNTING I Lab 2.2 AC1220 Lab 2.2 Introduction Jake’s Computer Repair Service was profitable in February 20x1 and continued to operate in March 20x1. The ending balances for assets, liabilities, and the capital account of Jake’s Computer Repair Service on February 28, 20x1 are listed here. These account balances are also the beginning balances for March 20x1. Account Balance Debit Credit Cash $7,760 Accounts Receivable $1,630 Supplies $260 Prepaid Advertising $1,000 Equipment $6,200 Accounts Payable $490 Wages Payable $30 Interest Payable $120 Note Payable $10,000 Unearned Revenue $120 Capital, Jones $6,090 Total $16,850 $16,850 The following transactions occurred during March 20x1: a. March 1, 20x1. Purchased supplies (on account): $640 b. March 4, 20x1. Service revenues for the first week of March: $1,420 (cash) c. March 18, 20x1. Received cash from customers on accounts receivable: $1,600 d. March 25, 20x1. Paid interest expense on note payable: $120 e. March 31, 20x1. Service revenues for the rest of March: $5,680 ($5,000 cash, $680 on account) f. March 31, 20x1. Paid rent: $500 g. March 31, 20x1. The cash payment for wages totaled $1,100. The journal entry includes debit to the wages payable account. h. March 31, 20x1. Jake withdrew $2,000 in cash from the business for personal use. Requirement 1 Journalize the transactions occurring during March, 20x1. The first transaction has been journalized and posted to the related ledger account. DATE REF DEBIT CREDIT 3/1/11 Supplies $640 Accounts Payable a $640 To record purchase of supplies a 3/4/x1 b b 3/18/x1 c c 3/25/x1 d d DATE REF DEBIT CREDIT 3/31/x1 e e e 3/31/x1 f f 3/31/x1 g g g 3/31/x1 h h Requirement 2 Post the journal entries made for March 31, 20x1, to the appropriate T-accounts. Use the journal entries for March 31 made in Requirement 2. All other entries have been posted. CASH ACCOUNTS RECEIVABLE Bal. $7,760 Bal. $1,630 SUPPLIES PREPAID ADVERTISING Bal. $260 Bal. $1,000 Mar 1 $640 EQUIPMENT Bal. $6,200 ACCOUNTS PAYABLE WAGES PAYABLE Bal. $490 Bal. $30 Mar 1 $640 INTEREST PAYABLE UNEARNED REVENUE Mar 25 $120 Bal. $120 Bal. 120 NOTES PAYBALE Bal. $10,000 CAPITAL, JONES DRAWINGS, JONES Bal. $6,090 SERVICE REVENUES WAGES EXPENSE RENT EXPENSE INTEREST EXPENSE Requirement 3 Use the following unadjusted trial balance for Jake’s Computer Repair Service as on March 31, 20x1, to check the ending balances you computed for Requirement 2 above. Account Unadjusted Balance Debit Credit Cash $12,060 Accounts Receivable $710 Supplies $900 Prepaid Advertising $1,.

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Sheet1Pretax IncomeYang, Ziyun make sure to add back income t.docx

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Sheet1Pretax Income Yang, Ziyun: make sure to add back income tax paid through Nov. See account 999 Nov balance. Subject to State Taxes- 0State Tax- 0Subject to Fed Taxes Yang, Ziyun: State Taxes can be deducted from Fed taxable income - 0Progressive ratefirst 50,000 @15%7,500next 25,000 @ 25%6,250remainder @ 34%(25,500)Fed Tax(11,750)Federal Surtax Yang, Ziyun: 5% on income over $100,000, surtax not to exceed $11,750 - 0 Yang, Ziyun: Updated in V2 Total Fed Tax(11,750)Total Income Tax(11,750)Less: Income Taxes Paid Yang, Ziyun: Paid taxes through Nov. See account 999 Nov balance. 72,000Tax accrual Yang, Ziyun: debit exp, credit payable (83,750) Sheet2 Sheet3 Research question Human factors for changes in natural geology Ivan Tai Humans as major geological and geomorphological agents in the Anthropocene: the significance of artificial ground in Great Britain Since the first prehistoric people started to dig for stone to make implements, rather than pick up loose material, humans have modified the landscape through excavation of rock and soil, generation of waste and creation of artificial ground. In Great Britain over the past 200 years, people have excavated, moved and built up the equivalent of at least six times the volume of Ben Nevis. Simon J. Price , Jonathan R. Ford , Anthony H. Cooper and Catherine Neal Published:13 March 2011 2 Why I choose this research question? Because human The natural changes are very large, from climate change to changes in topographical attitudes. InstructionNarrative and InstructionsRockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under the laws of the State of Illinois, with an authorized capitalization of 100,000 sharesof no-par common stock with a stated value of $16 per share. The common stock is sold over thethe counter in the local area. You have been hired as of Thursday, December 25, 2018, to replace thecontroller, who has resigned. As controller, you are responsible for the corporation's accountingrecrods, preparation of the financial statements, safeguarding the corporate assets, and providingmanagement with financial information to set prices and to monitor and control operations. Rockford Corporation closes its books annually on December 31 but prepares financial statementsquarterly. Adjusting entries are posted to the general ledger only at year-end; at the end of the first, second, and third quarter the adjustments are entered only on a work sheet, not in the generalledger. Therefore, the adjusting entries to be recorded on December 31 are annual adjustments that you must journalize and the post to the general ledger accounts before preparing the financial statements.Rockford Corporation maintains a perpetual inventory system and takes a physical count each yearto adjust the inventory carrying amount. Purchases are recorded at the gross amount (discountstaken are recognized at the date of payment) of.

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