Problem 4-5ADevine Brown opened Devine’s Carpet Cleaners on March .docx
•Download as DOCX, PDF•
0 likes•113 views
Problem 4-5A Devine Brown opened Devine’s Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,940 cash in the business. 1 Purchased used truck for $6,050, paying $3,025 cash and the balance on account. 3 Purchased cleaning supplies for $1,128 on account. 5 Paid $1,788 cash on one-year insurance policy effective March 1. 14 Billed customers $4,723 for cleaning services. 18 Paid $1,538 cash on amount owed on truck and $402 on amount owed on cleaning supplies. 20 Paid $1,648 cash for employee salaries. 21 Collected $1,926 cash from customers billed on March 14. 28 Billed customers $2,561 for cleaning services. 31 Paid gasoline for month on truck $393. 31 Withdrew $769 cash for personal use. (a) Your answer is correct. Journalize the March transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 [removed] [removed] [removed] Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 2 of 5 used (b) and (c) Your answer is partially correct. Try again. Prepare a trial balance at March 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Earned but unbilled revenue at March 31 was $843. (2) Depreciation on equipment for the month was $463. (3) One-twelfth of the insurance expired. (4) An inventory count shows $273 of cleaning supplies on hand at March 31. (5) Accrued but unpaid employee salaries were $598. DEVINE’S CARPET CLEANERS Worksheet For the Month Ended March 31, 2012 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Accounts Receivable [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Supplies [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Prepaid Insurance [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Equipment [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Accounts Payable [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Owner’s Capital [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Owner’s Drawings [removed] [removed] [removed] [removed] [removed] [removed] [remove.
Report
Share
Report
Share
Recommended
httpACC 557 – Homework 1 Chapters 1, 2, and 3Due Week 2 and.docx
http
ACC 557 –
Homework 1: Chapters 1, 2, and 3
Due Week 2 and worth 95 points
Directions: Answer the following questions
in a separate Microsoft Word or Excel
document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link
in Blackboard
.
Exercises
E
1-11
.
Two items are omitted from each of the following summaries of balance sheet and income
s
tatement data for two corporations for the year 2015, Plunkett Co. and Herring
Enterprises.
Instructions
Determine the missing amounts.
E
2-9
.
Selected transactions from the journal of Kati Tillman, investment broker, are presented below.
Instructions
a)
Post the transactions to T-accounts.
b)
Prepare a trial balance at August 31, 2015.
E
2-11
.
Presented below is the ledger for Higgs Co.
Instructions
a)
Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.
b)
Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2015.
E
3-7.
The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared.
An analysis of the accounts shows the following.
1.
The equipment depreciates $400 per month.
2.
One-third of the unearned rent revenue was earned during the quarter.
3.
Interest totaling $500 is accrued on the notes payable for the quarter.
4.
Supplies on hand total $900.
5.
Insurance expires at the rate of $200 per month.
Instructions
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.
E
3-11
.
A partial adjusted trial balance of
Gehring
Company at January 31, 2015, shows the following.
Instructions
Answer the following questions, assuming the year begins January 1.
a)
If the amount in Supplies Expense is the January 31 adjusting entry, and $1,000 of supplies was purchased in January, what was the balance in Supplies on January 1?
b)
If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?
c)
If $3,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2014?
Problems
P1-2A.
On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred.
1.
Paid $2,900 cash for accounts payable due.
2.
Collected $1,300 of accounts receivable.
3.
Purchased additional equipment for $2,100, paying $800 in cash and the balance on account.
4.
Recogni.
Directions Answer the following questions in a separate Mic.docx
Directions: Answer the following questions
in a separate Microsoft Word or Excel
document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link
in Blackboard
.
Exercises
E
1-11
.
Two items are omitted from each of the following summaries of balance sheet and income
s
tatement data for two corporations for the year 2015, Plunkett Co. and Herring
Enterprises.
Instructions
Determine the missing amounts.
E
2-9
.
Selected transactions from the journal of Kati Tillman, investment broker, are presented below.
Instructions
a)
Post the transactions to T-accounts.
b)
Prepare a trial balance at August 31, 2015.
E
2-11
.
Presented below is the ledger for Higgs Co.
Instructions
a)
Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.
b)
Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2015.
E
3-7.
The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared.
An analysis of the accounts shows the following.
1.
The equipment depreciates $400 per month.
2.
One-third of the unearned rent revenue was earned during the quarter.
3.
Interest totaling $500 is accrued on the notes payable for the quarter.
4.
Supplies on hand total $900.
5.
Insurance expires at the rate of $200 per month.
Instructions
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.
E
3-11
.
A partial adjusted trial balance of
Gehring
Company at January 31, 2015, shows the following.
Instructions
Answer the following questions, assuming the year begins January 1.
a)
If the amount in Supplies Expense is the January 31 adjusting entry, and $1,000 of supplies was purchased in January, what was the balance in Supplies on January 1?
b)
If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?
c)
If $3,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2014?
Problems
P1-2A.
On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred.
1.
Paid $2,900 cash for accounts payable due.
2.
Collected $1,300 of accounts receivable.
3.
Purchased additional equipment for $2,100, paying $800 in cash and the balance on account.
4.
Recognized revenue of $7,300, of which $2,500 is collected in cash and the
balance
is .
ACC 421 NERD Introduction Education--acc421nerd.com
is a truly special teacher is very wise and sees tomorrow in every student’s eyes
Portfolio Project Option 1 Student TemplateOption #1 Venture .docx
Portfolio Project Option 1 Student Template
Option #1: Venture Consultants, Power and Demolition Company, and Warnerwood Accounting Cases
PART 1:
Venture Consultants
The month of March transactions
Date
Account Names
Debit
Credit
1-Mar
2-Mar
3-Mar
6-Mar
9-Mar
12-Mar
19-Mar
22-Mar
25-Mar
29-Mar
30-Mar
30-Apr
$221,000
$221,000
PART 2A
Power and Demolition Co, Adjustment April 30, 2015
Adjust #
Account Names
Debit
Credit
1
2
3
4
5
6
7
8
PART 2B
Power and Demolition Co, Adjustment April 30, 2015
Continued
UTB
ADJUSTMENT
Acct #
Account Names
Debit
Credit
Debit
Credit
Debit
101
Cash
$7,000
$7,000
126
Supplies
$16,000
128
Pre-paid insurance
$12,600
167
Equipment
$200,000
Accumulated. Depreciation
$14,000
201
Account payable
$6,800
Utilities payable
Wages payable
Rent Payable
PropertyTxPayable
Interest payable
251
Long-term notes payable
$30,000
301
Bonn, Equity
$86,900
302
Bonn, Withdrawals
$12,000
401
Demolition fees earned
$187,000
623
Wage expense
$41,400
633
Interest expense
$3,300
640
Rent expense
$13,200
683
Property tax expense
$9,700
684
Repairs expense
$4,700
690
Utilities expense
$4,800
Supply expense
Insurance expense
Depreciation expense
TOTALS
$324,700
$324,700
PART 3
Warnerwood Company
Column->
A
B
C
D
E
F
G
Date
Activities
# Units Buy
Cost/unit
#Units Sold
Price/unit
Cost GAS
Sales
1-Mar
BI
5-Mar
TI
9-Mar
TO
18-Mar
TI
25-Mar
TI
29-Mar
TO
TOTAL
Q1. Units in Available for Sales is BI + TI (Column B)=
Units (BI + TI) =
Q2. BI + TI - TO = EI=
820
minus
580
equals
240
Q3. FIFO
Q3. LIFO
Q3. Weighted Average
Weighted cost/unit=
Cost EI=
Q.4
Sales
COGS/Method
Gross Profit
Q4. FIFO
Q4. LIFO
Q4. WtAvg
Portfolio
Project Option 1 Student Template
Option #1
:
Venture Consultants, Power and Demolition Company, and Warnerwood
Accounting Cases
PART 1:
Venture Consultants
The month of March transactions
Date
Account
Names
Debit
Credit
1
-
Mar
2
-
Mar
3
-
Mar
6
-
Mar
9
-
Mar
12
-
Mar
19
-
Mar
22
-
Mar
25
-
Mar
29
-
Mar
30
-
Mar
.
MenuACCT 212 Course ProjectRequirementRequirement DescriptionWork.docx
MenuACCT 212: Course ProjectRequirementRequirement DescriptionWorksheet Name1Prepare the Journal Entries in the General Journal1 - Journal Entries2Post Journal Entries to the General Ledger2 - General Ledger3Prepare a Trial Balance3 - Trial Balance4Prepare the Adjusting Entries4 &5 - Adjusting Entries5Post Adjusting Entries to the General Ledger4 &5 -Adjusting Entries ( Use worksheet #2)6Prepare an Adjusted Trial Balance6- Adjusted TB7Prepare the Financial Statements7 - Financial Statements8Prepare the Closing Entries8&9 - Closing Entries ( use worksheet #2)9Post Closing Entries to the General Ledger8&9- General Ledger10Prepare the Post Closing Trial Balance10 - Post Closing Trial Balance11Compute Ratios11-Ratios12Interpret the Ratios12-Interpretation of Ratios
Project InstructionsCourse Project OverviewThe Course Project consists of 10 Requirements for you to complete. The Course Project is due at the end of Week 6. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is located in this Workbook.
• There are eight worksheets in the workbook you will need to complete.
• A list of March transactions
• A Chart of Accounts reference sheet
• A Grading Rubric to help explain what is expected.
• Each worksheet has the Check Figures embedded as a comment.
ScenarioYou’ve just secured a new client in your accounting practice, Bethany's Bicycle Corporation (BBC), a brand new small business specializing in bicycle repair. The owner, Bethany Beck, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to helpBethany put his affairs in order. Luckily Bethany has only been in operation for a month and things have not gotten too out of hand yet! Bethany has to submit his financial statements to her investors and doesn’t know where to begin. It’s your job to go through the complete Accounting cycle to prepare the financial statements for the BBC.RequirementsGuidelinesUse the embedded assistance in the template, guidance in your textbook, and examples in the weekly lectures to complete this project. Should you have any questions contact your professor.Milestone 1 is due in Week 4 - This includes project requirements 1-3.Milestone 2 is due in Week 6 - This includes project requirements 4-10.
Before You Begin:
Review the Week 2 Lecture prior to starting work on this project.
Print the Chart of Accounts and October Transactions worksheets for your reference. You will need to refer to both throughout the project.
Review the Grading Criteria.
SAVE your work frequently in this workbook.
March TransactionsDuring its first month of operation, the Bethany's Bicycle Corporation, which specializes in bicycle repairs, completed the following transactions.March TransactionsDateTransaction DescriptionMarch 1Began business by making a deposit in a company bank account of $20,000, in exchange for 2,000 shares of $10 par value.
Recommended
httpACC 557 – Homework 1 Chapters 1, 2, and 3Due Week 2 and.docx
http
ACC 557 –
Homework 1: Chapters 1, 2, and 3
Due Week 2 and worth 95 points
Directions: Answer the following questions
in a separate Microsoft Word or Excel
document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link
in Blackboard
.
Exercises
E
1-11
.
Two items are omitted from each of the following summaries of balance sheet and income
s
tatement data for two corporations for the year 2015, Plunkett Co. and Herring
Enterprises.
Instructions
Determine the missing amounts.
E
2-9
.
Selected transactions from the journal of Kati Tillman, investment broker, are presented below.
Instructions
a)
Post the transactions to T-accounts.
b)
Prepare a trial balance at August 31, 2015.
E
2-11
.
Presented below is the ledger for Higgs Co.
Instructions
a)
Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.
b)
Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2015.
E
3-7.
The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared.
An analysis of the accounts shows the following.
1.
The equipment depreciates $400 per month.
2.
One-third of the unearned rent revenue was earned during the quarter.
3.
Interest totaling $500 is accrued on the notes payable for the quarter.
4.
Supplies on hand total $900.
5.
Insurance expires at the rate of $200 per month.
Instructions
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.
E
3-11
.
A partial adjusted trial balance of
Gehring
Company at January 31, 2015, shows the following.
Instructions
Answer the following questions, assuming the year begins January 1.
a)
If the amount in Supplies Expense is the January 31 adjusting entry, and $1,000 of supplies was purchased in January, what was the balance in Supplies on January 1?
b)
If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?
c)
If $3,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2014?
Problems
P1-2A.
On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred.
1.
Paid $2,900 cash for accounts payable due.
2.
Collected $1,300 of accounts receivable.
3.
Purchased additional equipment for $2,100, paying $800 in cash and the balance on account.
4.
Recogni.
Directions Answer the following questions in a separate Mic.docx
Directions: Answer the following questions
in a separate Microsoft Word or Excel
document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link
in Blackboard
.
Exercises
E
1-11
.
Two items are omitted from each of the following summaries of balance sheet and income
s
tatement data for two corporations for the year 2015, Plunkett Co. and Herring
Enterprises.
Instructions
Determine the missing amounts.
E
2-9
.
Selected transactions from the journal of Kati Tillman, investment broker, are presented below.
Instructions
a)
Post the transactions to T-accounts.
b)
Prepare a trial balance at August 31, 2015.
E
2-11
.
Presented below is the ledger for Higgs Co.
Instructions
a)
Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.
b)
Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2015.
E
3-7.
The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared.
An analysis of the accounts shows the following.
1.
The equipment depreciates $400 per month.
2.
One-third of the unearned rent revenue was earned during the quarter.
3.
Interest totaling $500 is accrued on the notes payable for the quarter.
4.
Supplies on hand total $900.
5.
Insurance expires at the rate of $200 per month.
Instructions
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.
E
3-11
.
A partial adjusted trial balance of
Gehring
Company at January 31, 2015, shows the following.
Instructions
Answer the following questions, assuming the year begins January 1.
a)
If the amount in Supplies Expense is the January 31 adjusting entry, and $1,000 of supplies was purchased in January, what was the balance in Supplies on January 1?
b)
If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?
c)
If $3,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2014?
Problems
P1-2A.
On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred.
1.
Paid $2,900 cash for accounts payable due.
2.
Collected $1,300 of accounts receivable.
3.
Purchased additional equipment for $2,100, paying $800 in cash and the balance on account.
4.
Recognized revenue of $7,300, of which $2,500 is collected in cash and the
balance
is .
ACC 421 NERD Introduction Education--acc421nerd.com
is a truly special teacher is very wise and sees tomorrow in every student’s eyes
Portfolio Project Option 1 Student TemplateOption #1 Venture .docx
Portfolio Project Option 1 Student Template
Option #1: Venture Consultants, Power and Demolition Company, and Warnerwood Accounting Cases
PART 1:
Venture Consultants
The month of March transactions
Date
Account Names
Debit
Credit
1-Mar
2-Mar
3-Mar
6-Mar
9-Mar
12-Mar
19-Mar
22-Mar
25-Mar
29-Mar
30-Mar
30-Apr
$221,000
$221,000
PART 2A
Power and Demolition Co, Adjustment April 30, 2015
Adjust #
Account Names
Debit
Credit
1
2
3
4
5
6
7
8
PART 2B
Power and Demolition Co, Adjustment April 30, 2015
Continued
UTB
ADJUSTMENT
Acct #
Account Names
Debit
Credit
Debit
Credit
Debit
101
Cash
$7,000
$7,000
126
Supplies
$16,000
128
Pre-paid insurance
$12,600
167
Equipment
$200,000
Accumulated. Depreciation
$14,000
201
Account payable
$6,800
Utilities payable
Wages payable
Rent Payable
PropertyTxPayable
Interest payable
251
Long-term notes payable
$30,000
301
Bonn, Equity
$86,900
302
Bonn, Withdrawals
$12,000
401
Demolition fees earned
$187,000
623
Wage expense
$41,400
633
Interest expense
$3,300
640
Rent expense
$13,200
683
Property tax expense
$9,700
684
Repairs expense
$4,700
690
Utilities expense
$4,800
Supply expense
Insurance expense
Depreciation expense
TOTALS
$324,700
$324,700
PART 3
Warnerwood Company
Column->
A
B
C
D
E
F
G
Date
Activities
# Units Buy
Cost/unit
#Units Sold
Price/unit
Cost GAS
Sales
1-Mar
BI
5-Mar
TI
9-Mar
TO
18-Mar
TI
25-Mar
TI
29-Mar
TO
TOTAL
Q1. Units in Available for Sales is BI + TI (Column B)=
Units (BI + TI) =
Q2. BI + TI - TO = EI=
820
minus
580
equals
240
Q3. FIFO
Q3. LIFO
Q3. Weighted Average
Weighted cost/unit=
Cost EI=
Q.4
Sales
COGS/Method
Gross Profit
Q4. FIFO
Q4. LIFO
Q4. WtAvg
Portfolio
Project Option 1 Student Template
Option #1
:
Venture Consultants, Power and Demolition Company, and Warnerwood
Accounting Cases
PART 1:
Venture Consultants
The month of March transactions
Date
Account
Names
Debit
Credit
1
-
Mar
2
-
Mar
3
-
Mar
6
-
Mar
9
-
Mar
12
-
Mar
19
-
Mar
22
-
Mar
25
-
Mar
29
-
Mar
30
-
Mar
.
MenuACCT 212 Course ProjectRequirementRequirement DescriptionWork.docx
MenuACCT 212: Course ProjectRequirementRequirement DescriptionWorksheet Name1Prepare the Journal Entries in the General Journal1 - Journal Entries2Post Journal Entries to the General Ledger2 - General Ledger3Prepare a Trial Balance3 - Trial Balance4Prepare the Adjusting Entries4 &5 - Adjusting Entries5Post Adjusting Entries to the General Ledger4 &5 -Adjusting Entries ( Use worksheet #2)6Prepare an Adjusted Trial Balance6- Adjusted TB7Prepare the Financial Statements7 - Financial Statements8Prepare the Closing Entries8&9 - Closing Entries ( use worksheet #2)9Post Closing Entries to the General Ledger8&9- General Ledger10Prepare the Post Closing Trial Balance10 - Post Closing Trial Balance11Compute Ratios11-Ratios12Interpret the Ratios12-Interpretation of Ratios
Project InstructionsCourse Project OverviewThe Course Project consists of 10 Requirements for you to complete. The Course Project is due at the end of Week 6. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is located in this Workbook.
• There are eight worksheets in the workbook you will need to complete.
• A list of March transactions
• A Chart of Accounts reference sheet
• A Grading Rubric to help explain what is expected.
• Each worksheet has the Check Figures embedded as a comment.
ScenarioYou’ve just secured a new client in your accounting practice, Bethany's Bicycle Corporation (BBC), a brand new small business specializing in bicycle repair. The owner, Bethany Beck, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to helpBethany put his affairs in order. Luckily Bethany has only been in operation for a month and things have not gotten too out of hand yet! Bethany has to submit his financial statements to her investors and doesn’t know where to begin. It’s your job to go through the complete Accounting cycle to prepare the financial statements for the BBC.RequirementsGuidelinesUse the embedded assistance in the template, guidance in your textbook, and examples in the weekly lectures to complete this project. Should you have any questions contact your professor.Milestone 1 is due in Week 4 - This includes project requirements 1-3.Milestone 2 is due in Week 6 - This includes project requirements 4-10.
Before You Begin:
Review the Week 2 Lecture prior to starting work on this project.
Print the Chart of Accounts and October Transactions worksheets for your reference. You will need to refer to both throughout the project.
Review the Grading Criteria.
SAVE your work frequently in this workbook.
March TransactionsDuring its first month of operation, the Bethany's Bicycle Corporation, which specializes in bicycle repairs, completed the following transactions.March TransactionsDateTransaction DescriptionMarch 1Began business by making a deposit in a company bank account of $20,000, in exchange for 2,000 shares of $10 par value.
ACCT 504 Midterm Exam (4 Sets, 2017)
ACCT 504 is a truly special teacher is very wise and sees tomorrow in every student’s eyes
Acc 291 t Perfect Education/newtonhelp.com
For more course tutorials visit
www.newtonhelp.com
ACC 291T Week 1 Practice: Connect® Knowledge Check
ACC 291T Week 1 Apply: Connect® Exercise
ACC 291T Week 2 Practice: Connect® Knowledge Check
BUS591 – Financial Statement and AnalysisWeek 4 Homework Assig.docx
BUS591 – Financial Statement and Analysis
Week 4 Homework Assignment Templates
Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you.
Save the file as follows: lastnamewk4.docx
Submit to the assignment box before the due date. (Late assignments will receive a late penalty).
Problem 8-2B
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
1
2
3
4
5
(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts
Be sure to post the amounts to the correct side of the T-Account!
Accounts Receivable
Bal.
(2)
(1)
(3)
(5)
(4)
(5)
Bal.
Allowance for Doubtful Accounts
(4)
Bal.
(5)
Bal.
(c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.
Balance needed $
Balance before adjustment [see (b)]
Adjustment required $
The journal entry would therefore be as follows:
(d) Accounts Receivable Turnover Ratios:
Enter your answer here
Average Collection Period:
Enter your answer here
Problem 8-6B (next page)
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
5
20
Feb 18
Apr 20
30
May 25
Aug 18
Sept. 1
Problem 9-2B
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
If there are two entries for the same day, then you do not need to enter the date again.
Date
Account Titles and Explanation
Debit
Credit
April 1
May 1
May 1
June 1
Sept 1
PART B
Dec 31
31
(c) Partial Balance Sheet
TONG CORPORATION
Partial Balance Sheet
December 31, 2014
Assets
Plant assets
Account title
Amount
Account title
Amount
Account title
Amount
Account title (or contra account)
Amount
Total plant assets
Amount
Problem 9-7B
(a)
BUS 1
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 2
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 3
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
(b)
BUS 2
Year
Depreciation Expense
Amount
Amount
BUS 591 Financial Accounting & Analysis WEEK 4 Homework Assignment
P8-2B
At December 31, 2013, Dustin Comp ...
Week 2 Homework TemplateProblem 3-2B (a) Show the effects of.docx
Week 2 Homework Template
Problem 3-2B: (a) Show the effects of each transaction on the accounting equation. Enter each amount in the proper column. Assume the note payable is to be repaid within the year.
REMEMBER: each transaction affects TWO accounts! Use the + or – signs to indicate whether the amount increased or decreased the account. Total up each account in the last line of the worksheet then “check” your work by totaling up Assets, Liabilities and Equity. Put each transaction on a separate line.
Remember the accounting equation: assets = liabilities + equity. Note any changes in Retained Earnings on the page below the worksheet.
(a)WALZ SERVICE INC.
Assets=Liabilities
+Stockholders’ Equity
Date
Cash
+
Accounts Receivable
+
Supplies
+
Equipment
=
Notes Payable
+
Accounts Payable
+
Common Stock
+
Retained Earnings
Revenues
–
Expenses
–
Dividends
June 1
Totals
$
$
Total of All Columns under Assets
Total of All columns under Liabilities & Stockholder’s Equity
(a) Continued
Changes in Retained Earnings:
(b) Prepare an Income Statement for June
WALZ SERVICE INC.
Income Statement
For the Month Ended June, 30, 2014
Revenues
Account title
Amount
Expenses
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Total expenses
Amount
Net income
Amount
(Part C is on the next page)
(c) Prepare a Classified balance sheet at June 30, 2014 (Remember, assets and liabilities + equity MUST equal). If it doesn’t, there is an error somewhere).
WALZ SERVICE Inc.
Balance Sheet
June 30, 2014
Assets
Current assets
Account title
Amount
Account title
Amount
Account title
Amount
Total current assets
Amount
Account title
Amount
Total assets
Amount
Liabilities and Stockholders’ Equity
Current liabilities
Account title
Amount
Account title
Amount
Total current liabilities
Amount
Stockholders’ equity
Account title
Amount
Account title
Amount
Amount
Total liabilities and stockholders’ equity
Amount
Problem 3-5B is on the next page.
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Remember that every transaction affects TWO accounts!
Date
Account Titles and Explanation
Debit
Credit
May1
2
3
7
11
12
17
31
31
Part B is on the next page.
PROBLEM 3-5B (Continued)
3-62Copyright © 2011 John Wiley & Sons, Inc. Kimmel, Financial Accounting, 6/e,
Solution
s Manual (For Instructor Use Only)
(b) Post the transactions to the ledger.
ANSWER ALL QUESTIONS IN FIELD READ CAREFULLY PLEASE LABEL EACH QU.docx
ANSWER ALL QUESTIONS IN FIELD: READ CAREFULLY PLEASE LABEL EACH QUESTION
Question 1
Classifying Accounts
Balances for each of the following accounts appear in an adjusted trial balance. Identify each as an asset, liability, revenue, or expense.
1. Accounts Receivable
2. Equipment
3. Fees Earned
4. Insurance Expense
5. Land
6. Prepaid Rent
7. Rent Revenue
8. Salary Expense
9. Salary Payable
10. Supplies
11. Unearned Rent
12. Wages Payable
Question 2
Financial Statements from the End-of-Period Spreadsheet
Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended June 30, 2019:
Elliptical Consulting
End-of-Period Spreadsheet
For the Year Ended June 30, 2019
Unadjusted
Adjusted
Trial Balance
Adjustments
Trial Balance
Account Title
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
27,000
27,000
Accounts Receivable
53,500
53,500
Supplies
3,000
(a)
2,100
900
Office Equipment
30,500
30,500
Accumulated Depreciation
4,500
(b)
1,500
6,000
Accounts Payable
3,300
3,300
Salaries Payable
(c)
375
375
Jayson Neese, Capital
82,200
82,200
Jayson Neese, Drawing
2,000
2,000
Fees Earned
60,000
60,000
Salary Expense
32,000
(c)
375
32,375
Supplies Expense
(a)
2,100
2,100
Depreciation Expense
(b)
1,500
1,500
Miscellaneous Expense
2,000
2,000
150,000
150,000
3,975
3,975
151,875
151,875
Based on the preceding spreadsheet, prepare an income statement for Elliptical Consulting.
Elliptical Consulting
Income Statement
For the Year Ended June 30, 2019
$
Expenses:
$
Total expenses
$
Based on the preceding spreadsheet, prepare a statement of owner's equity for Elliptical Consulting.
Elliptical Consulting
Statement of Owner's Equity
For the Year Ended June 30, 2019
$
$
$
Based on the preceding spreadsheet, prepare a balance sheet for Elliptical Consulting.
Elliptical Consulting
Balance Sheet
June 30, 2019
Assets
Current assets:
$
Total current assets
$
Property, plant, and equipment:
$
Total property, plant, and equipment
Total assets
$
Liabilities
Current liabilities:
$
Total liabilities
$
Owner's Equity
Total liabilities and owner's equity
$
Question 3:
Income Statement; Net Loss
The following revenue and expense account balances were taken from the ledger of Wholistic Health Services Co. after the accounts had been adjusted on February 28, 2019, the end of the fiscal year:
Depreciation Expense
$7,500
Insurance Expense
3,000
Miscellaneous Expense
8,150
Rent Expense
54,000
Service Revenue
448,400
Supplies Expense
2,750
Utilities Expense
33,900
Wages Expense
360,000
Prepare an income statement. Use a minus sign to indicate a net loss.
Wholistic Health Services Co.
Income Statement
For the Year Ended February 28, 2019
$
Expenses:
$
Total expenses
Question 4:
Statement .
ACC 205 Education Specialist / snaptutorial.com
For more classes visit
www.snaptutorial.com
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December
ACC 205 Effective Communication / snaptutorial.com
For more classes visit
www.snaptutorial.com
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December 31.
b. Determine the company's total liabilities as of December 31.
ACC 205(NEW) Enhance teaching - tutorialrank.com
For more course tutorials visit
www.tutorialrank.com
Tutorial Purchased: 2 Times, Rating:B+
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December 31.
Acc 205 Education Organization / snaptutorial.com
For more classes visit
www.snaptutorial.com
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December 31.
b. Determine the company's total liabilities as of December 31.
Acc 205 Effective Communication - tutorialrank.com
For more course tutorials visit
www.tutorialrank.com
Tutorial Purchased: 2 Times, Rating:B+
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December 31.
b. Determine the company's total liabilities as of December
Question 2The Trial Balance of the Hope, Faith and Cha.docx
Question 2
The Trial Balance of the Hope, Faith and Charity Company had accounts with the following normal balances: Cash $5,000, Service Revenue $85,000, Salaries and Wages Payable$4,000, Salaries and Wages Expense $40,000, Rent Expense $10,000, Owner’s Capital $42,000, Owner’s Drawings (Withdraws or Dividends) $15,000, Equipment $61,000. The total in the Trial Balance debit column should be:
$131,000.
$216,000.
$91,000.
$116,000.
Question 3
Webber earned $600 for the last week of September. He will be paid on October 2. The adjusting entry for Webber’s employer is:
A. No entry is required.
B. Debit Salary and Wages Expense; Credit Salaries and Wages Payable.
C. Debit Salaries and Wages Expense; Credit Cash.
D. Debit Salaries and Wages Payable; Credit Cash.
Question 4
In the unadjusted trial balance of its worksheet for the year ended December 31, 2016, Gellatin Corporation reported equipment of $120,000. The year-end adjusting entries require an adjustment of $12,000 for depreciation expense for the equipment. After the adjustment, the following adjusted amount should be reported.
A. A debit of $12,000 for Equipment in the balance sheet column.
B. A credit of $12,000 for Deprecation Expense-Equipment for the Income Statement Column.
C. A debit of $120,000 for Equipment in the balance sheet column.
D. A debit of $12,000 for Accumulated Depreciation-Equipment in the Balance Sheet Column.
Question 5
When Wild Bill Hickock Company purchased supplies worth $500, it incorrectly recorded a credit to Supplies for $5,000 and a debit to Cash for $5,000. Before correcting this error:
A. Cash is overstated and Supplies is overstated.
B. Cash is understated and Supplies is understated.
C. Cash is understated and Supplies is overstated.
D. Cash is overstated and Supplies is understated.
Question 8
The Dividends account
A. must show transactions every accounting period.
B. is increased with debits and decreased with credits.
C. is not a proper subdivision of retained earnings.
D. appears on the income statement along with the expenses of the business.
Question 23
Accrued revenues are
A earned and recorded as liabilities before they are received.
B earned but not yet received or recorded.
C received and recorded as liabilities before they are earned.
D earned and already received and recorded.
Problem #1
Prepare a trial balance.
The accounts in the ledger of Talbot Delivery Service contain the following balances on July 31, 2014.
Accounts Receivable
$10,642
Prepaid Insurance
$ 1,968
Accounts Payable
8,396
Maintenance and Repairs Expense
961
Cash
?
Service Revenue
10,610
Equipment
49,360
Dividends
700
Gasoline Expense
758
Common Stock
40,000
Utilities Expense
523
Salaries and Wages Expense
4,428
Notes Payable
26,450
Salaries and Wages Payable
815
Retained Earnings
4,636
Instructions
Prepare ...
Problem 7. Dollars for WaitingJeffrey Swift has been a messenger.docx
Problem 7. Dollars for Waiting?
Jeffrey Swift has been a messenger used by a couple of the local businesses where the Discrimina, Inc. machine shop is located. Sometimes he has done some extra errands inside the Discrimina building for a couple of hours. For the last several weeks, he has helped package items for shipment on Thursdays. Things have gone well, but Jeffrey is concerned because sometimes he has waited over two hours in the waiting room while waiting for the packaging to begin. He wouldn't mind but Discrimina pays only for packaging time, not for waiting time. He can never be certain when the parts will be ready for packaging because final quality checking time varies wildly.
Jeffrey has his own delivery business, but Discrimina has only paid him cash. Each time, Jeffrey has given the company a receipt for the cash. While he waits, he sometimes goes out for donuts for the crew. At other times, he plays games on his PDA or makes cell calls to friends.
Question
If Jeffrey Swift sues for the waiting time hours, what is the likely result and why? Write your answer in a Word document in 1-2 pages.
.
Problem 8-2B(a) Journalize the transactions, including explanation.docx
Problem 8-2B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
1
2
3
4
5
(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts
Be sure to post the amounts to the correct side of the T-Account!
Accounts Receivable
Bal.
(2)
(1)
(3)
(5)
(4)
(5)
Bal.
Allowance for Doubtful Accounts
(4)
Bal.
(5)
Bal.
(c)
Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.
Balance needed
...............................................................................
$
Balance before adjustment [see (b)]
................................................
Adjustment required
.......................................................................
$
The journal entry would therefore be as follows:
(d) Accounts Receivable Turnover Ratios:
Enter your answer here
Average Collection Period:
Enter your answer here
Problem 8-6B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
5
20
Feb
18
Apr
20
30
May
25
Aug
18
Sept.
1
Problem 9-2B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
If there are two entries for the same day, then you do not need to enter the date again.
Date
Account Titles and Explanation
Debit
Credit
April
1
May
1
May
1
June
1
Sept
1
PART B
Dec
31
31
(c)
Partial Balance Sheet
TONG CORPORATION
Partial Balance Sheet
December 31, 2014
Assets
Plant assets
Account title
Amount
Account title
Amount
Account title
Amount
Account title (or contra account)
Amount
Total plant assets
Amount
Problem 9-7B
(a)
BUS 1
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 2
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 3
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
(b)
BUS 2
Year
Depreciation Expense
Amount
Amount
.
More Related Content
Similar to Problem 4-5ADevine Brown opened Devine’s Carpet Cleaners on March .docx
ACCT 504 Midterm Exam (4 Sets, 2017)
ACCT 504 is a truly special teacher is very wise and sees tomorrow in every student’s eyes
Acc 291 t Perfect Education/newtonhelp.com
For more course tutorials visit
www.newtonhelp.com
ACC 291T Week 1 Practice: Connect® Knowledge Check
ACC 291T Week 1 Apply: Connect® Exercise
ACC 291T Week 2 Practice: Connect® Knowledge Check
BUS591 – Financial Statement and AnalysisWeek 4 Homework Assig.docx
BUS591 – Financial Statement and Analysis
Week 4 Homework Assignment Templates
Instructions: Only enter data in the yellow boxes. The remaining areas are already completed for you.
Save the file as follows: lastnamewk4.docx
Submit to the assignment box before the due date. (Late assignments will receive a late penalty).
Problem 8-2B
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
1
2
3
4
5
(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts
Be sure to post the amounts to the correct side of the T-Account!
Accounts Receivable
Bal.
(2)
(1)
(3)
(5)
(4)
(5)
Bal.
Allowance for Doubtful Accounts
(4)
Bal.
(5)
Bal.
(c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.
Balance needed $
Balance before adjustment [see (b)]
Adjustment required $
The journal entry would therefore be as follows:
(d) Accounts Receivable Turnover Ratios:
Enter your answer here
Average Collection Period:
Enter your answer here
Problem 8-6B (next page)
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
5
20
Feb 18
Apr 20
30
May 25
Aug 18
Sept. 1
Problem 9-2B
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
If there are two entries for the same day, then you do not need to enter the date again.
Date
Account Titles and Explanation
Debit
Credit
April 1
May 1
May 1
June 1
Sept 1
PART B
Dec 31
31
(c) Partial Balance Sheet
TONG CORPORATION
Partial Balance Sheet
December 31, 2014
Assets
Plant assets
Account title
Amount
Account title
Amount
Account title
Amount
Account title (or contra account)
Amount
Total plant assets
Amount
Problem 9-7B
(a)
BUS 1
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 2
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 3
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
(b)
BUS 2
Year
Depreciation Expense
Amount
Amount
BUS 591 Financial Accounting & Analysis WEEK 4 Homework Assignment
P8-2B
At December 31, 2013, Dustin Comp ...
Week 2 Homework TemplateProblem 3-2B (a) Show the effects of.docx
Week 2 Homework Template
Problem 3-2B: (a) Show the effects of each transaction on the accounting equation. Enter each amount in the proper column. Assume the note payable is to be repaid within the year.
REMEMBER: each transaction affects TWO accounts! Use the + or – signs to indicate whether the amount increased or decreased the account. Total up each account in the last line of the worksheet then “check” your work by totaling up Assets, Liabilities and Equity. Put each transaction on a separate line.
Remember the accounting equation: assets = liabilities + equity. Note any changes in Retained Earnings on the page below the worksheet.
(a)WALZ SERVICE INC.
Assets=Liabilities
+Stockholders’ Equity
Date
Cash
+
Accounts Receivable
+
Supplies
+
Equipment
=
Notes Payable
+
Accounts Payable
+
Common Stock
+
Retained Earnings
Revenues
–
Expenses
–
Dividends
June 1
Totals
$
$
Total of All Columns under Assets
Total of All columns under Liabilities & Stockholder’s Equity
(a) Continued
Changes in Retained Earnings:
(b) Prepare an Income Statement for June
WALZ SERVICE INC.
Income Statement
For the Month Ended June, 30, 2014
Revenues
Account title
Amount
Expenses
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Total expenses
Amount
Net income
Amount
(Part C is on the next page)
(c) Prepare a Classified balance sheet at June 30, 2014 (Remember, assets and liabilities + equity MUST equal). If it doesn’t, there is an error somewhere).
WALZ SERVICE Inc.
Balance Sheet
June 30, 2014
Assets
Current assets
Account title
Amount
Account title
Amount
Account title
Amount
Total current assets
Amount
Account title
Amount
Total assets
Amount
Liabilities and Stockholders’ Equity
Current liabilities
Account title
Amount
Account title
Amount
Total current liabilities
Amount
Stockholders’ equity
Account title
Amount
Account title
Amount
Amount
Total liabilities and stockholders’ equity
Amount
Problem 3-5B is on the next page.
(a) Journalize the transactions, including explanations. (Note, enter all accounts in one box. The dates have been included to help with formatting).
Remember that every transaction affects TWO accounts!
Date
Account Titles and Explanation
Debit
Credit
May1
2
3
7
11
12
17
31
31
Part B is on the next page.
PROBLEM 3-5B (Continued)
3-62Copyright © 2011 John Wiley & Sons, Inc. Kimmel, Financial Accounting, 6/e,
Solution
s Manual (For Instructor Use Only)
(b) Post the transactions to the ledger.
ANSWER ALL QUESTIONS IN FIELD READ CAREFULLY PLEASE LABEL EACH QU.docx
ANSWER ALL QUESTIONS IN FIELD: READ CAREFULLY PLEASE LABEL EACH QUESTION
Question 1
Classifying Accounts
Balances for each of the following accounts appear in an adjusted trial balance. Identify each as an asset, liability, revenue, or expense.
1. Accounts Receivable
2. Equipment
3. Fees Earned
4. Insurance Expense
5. Land
6. Prepaid Rent
7. Rent Revenue
8. Salary Expense
9. Salary Payable
10. Supplies
11. Unearned Rent
12. Wages Payable
Question 2
Financial Statements from the End-of-Period Spreadsheet
Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended June 30, 2019:
Elliptical Consulting
End-of-Period Spreadsheet
For the Year Ended June 30, 2019
Unadjusted
Adjusted
Trial Balance
Adjustments
Trial Balance
Account Title
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
27,000
27,000
Accounts Receivable
53,500
53,500
Supplies
3,000
(a)
2,100
900
Office Equipment
30,500
30,500
Accumulated Depreciation
4,500
(b)
1,500
6,000
Accounts Payable
3,300
3,300
Salaries Payable
(c)
375
375
Jayson Neese, Capital
82,200
82,200
Jayson Neese, Drawing
2,000
2,000
Fees Earned
60,000
60,000
Salary Expense
32,000
(c)
375
32,375
Supplies Expense
(a)
2,100
2,100
Depreciation Expense
(b)
1,500
1,500
Miscellaneous Expense
2,000
2,000
150,000
150,000
3,975
3,975
151,875
151,875
Based on the preceding spreadsheet, prepare an income statement for Elliptical Consulting.
Elliptical Consulting
Income Statement
For the Year Ended June 30, 2019
$
Expenses:
$
Total expenses
$
Based on the preceding spreadsheet, prepare a statement of owner's equity for Elliptical Consulting.
Elliptical Consulting
Statement of Owner's Equity
For the Year Ended June 30, 2019
$
$
$
Based on the preceding spreadsheet, prepare a balance sheet for Elliptical Consulting.
Elliptical Consulting
Balance Sheet
June 30, 2019
Assets
Current assets:
$
Total current assets
$
Property, plant, and equipment:
$
Total property, plant, and equipment
Total assets
$
Liabilities
Current liabilities:
$
Total liabilities
$
Owner's Equity
Total liabilities and owner's equity
$
Question 3:
Income Statement; Net Loss
The following revenue and expense account balances were taken from the ledger of Wholistic Health Services Co. after the accounts had been adjusted on February 28, 2019, the end of the fiscal year:
Depreciation Expense
$7,500
Insurance Expense
3,000
Miscellaneous Expense
8,150
Rent Expense
54,000
Service Revenue
448,400
Supplies Expense
2,750
Utilities Expense
33,900
Wages Expense
360,000
Prepare an income statement. Use a minus sign to indicate a net loss.
Wholistic Health Services Co.
Income Statement
For the Year Ended February 28, 2019
$
Expenses:
$
Total expenses
Question 4:
Statement .
ACC 205 Education Specialist / snaptutorial.com
For more classes visit
www.snaptutorial.com
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December
ACC 205 Effective Communication / snaptutorial.com
For more classes visit
www.snaptutorial.com
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December 31.
b. Determine the company's total liabilities as of December 31.
ACC 205(NEW) Enhance teaching - tutorialrank.com
For more course tutorials visit
www.tutorialrank.com
Tutorial Purchased: 2 Times, Rating:B+
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December 31.
Acc 205 Education Organization / snaptutorial.com
For more classes visit
www.snaptutorial.com
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December 31.
b. Determine the company's total liabilities as of December 31.
Acc 205 Effective Communication - tutorialrank.com
For more course tutorials visit
www.tutorialrank.com
Tutorial Purchased: 2 Times, Rating:B+
Exercises 2.
Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3:
a. Determine Rossi's total assets as of December 31.
b. Determine the company's total liabilities as of December
Question 2The Trial Balance of the Hope, Faith and Cha.docx
Question 2
The Trial Balance of the Hope, Faith and Charity Company had accounts with the following normal balances: Cash $5,000, Service Revenue $85,000, Salaries and Wages Payable$4,000, Salaries and Wages Expense $40,000, Rent Expense $10,000, Owner’s Capital $42,000, Owner’s Drawings (Withdraws or Dividends) $15,000, Equipment $61,000. The total in the Trial Balance debit column should be:
$131,000.
$216,000.
$91,000.
$116,000.
Question 3
Webber earned $600 for the last week of September. He will be paid on October 2. The adjusting entry for Webber’s employer is:
A. No entry is required.
B. Debit Salary and Wages Expense; Credit Salaries and Wages Payable.
C. Debit Salaries and Wages Expense; Credit Cash.
D. Debit Salaries and Wages Payable; Credit Cash.
Question 4
In the unadjusted trial balance of its worksheet for the year ended December 31, 2016, Gellatin Corporation reported equipment of $120,000. The year-end adjusting entries require an adjustment of $12,000 for depreciation expense for the equipment. After the adjustment, the following adjusted amount should be reported.
A. A debit of $12,000 for Equipment in the balance sheet column.
B. A credit of $12,000 for Deprecation Expense-Equipment for the Income Statement Column.
C. A debit of $120,000 for Equipment in the balance sheet column.
D. A debit of $12,000 for Accumulated Depreciation-Equipment in the Balance Sheet Column.
Question 5
When Wild Bill Hickock Company purchased supplies worth $500, it incorrectly recorded a credit to Supplies for $5,000 and a debit to Cash for $5,000. Before correcting this error:
A. Cash is overstated and Supplies is overstated.
B. Cash is understated and Supplies is understated.
C. Cash is understated and Supplies is overstated.
D. Cash is overstated and Supplies is understated.
Question 8
The Dividends account
A. must show transactions every accounting period.
B. is increased with debits and decreased with credits.
C. is not a proper subdivision of retained earnings.
D. appears on the income statement along with the expenses of the business.
Question 23
Accrued revenues are
A earned and recorded as liabilities before they are received.
B earned but not yet received or recorded.
C received and recorded as liabilities before they are earned.
D earned and already received and recorded.
Problem #1
Prepare a trial balance.
The accounts in the ledger of Talbot Delivery Service contain the following balances on July 31, 2014.
Accounts Receivable
$10,642
Prepaid Insurance
$ 1,968
Accounts Payable
8,396
Maintenance and Repairs Expense
961
Cash
?
Service Revenue
10,610
Equipment
49,360
Dividends
700
Gasoline Expense
758
Common Stock
40,000
Utilities Expense
523
Salaries and Wages Expense
4,428
Notes Payable
26,450
Salaries and Wages Payable
815
Retained Earnings
4,636
Instructions
Prepare ...
Similar to Problem 4-5ADevine Brown opened Devine’s Carpet Cleaners on March .docx (20)
BUS591 – Financial Statement and AnalysisWeek 4 Homework Assig.docx
BUS591 – Financial Statement and AnalysisWeek 4 Homework Assig.docx
Week 2 Homework TemplateProblem 3-2B (a) Show the effects of.docx
Week 2 Homework TemplateProblem 3-2B (a) Show the effects of.docx
ANSWER ALL QUESTIONS IN FIELD READ CAREFULLY PLEASE LABEL EACH QU.docx
ANSWER ALL QUESTIONS IN FIELD READ CAREFULLY PLEASE LABEL EACH QU.docx
ACC 205 Effective Communication / snaptutorial.com
ACC 205 Effective Communication / snaptutorial.com
Acc 205 Effective Communication - tutorialrank.com
Acc 205 Effective Communication - tutorialrank.com
Question 2The Trial Balance of the Hope, Faith and Cha.docx
Question 2The Trial Balance of the Hope, Faith and Cha.docx
More from jeffsrosalyn
Problem 7. Dollars for WaitingJeffrey Swift has been a messenger.docx
Problem 7. Dollars for Waiting?
Jeffrey Swift has been a messenger used by a couple of the local businesses where the Discrimina, Inc. machine shop is located. Sometimes he has done some extra errands inside the Discrimina building for a couple of hours. For the last several weeks, he has helped package items for shipment on Thursdays. Things have gone well, but Jeffrey is concerned because sometimes he has waited over two hours in the waiting room while waiting for the packaging to begin. He wouldn't mind but Discrimina pays only for packaging time, not for waiting time. He can never be certain when the parts will be ready for packaging because final quality checking time varies wildly.
Jeffrey has his own delivery business, but Discrimina has only paid him cash. Each time, Jeffrey has given the company a receipt for the cash. While he waits, he sometimes goes out for donuts for the crew. At other times, he plays games on his PDA or makes cell calls to friends.
Question
If Jeffrey Swift sues for the waiting time hours, what is the likely result and why? Write your answer in a Word document in 1-2 pages.
.
Problem 8-2B(a) Journalize the transactions, including explanation.docx
Problem 8-2B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
1
2
3
4
5
(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts
Be sure to post the amounts to the correct side of the T-Account!
Accounts Receivable
Bal.
(2)
(1)
(3)
(5)
(4)
(5)
Bal.
Allowance for Doubtful Accounts
(4)
Bal.
(5)
Bal.
(c)
Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.
Balance needed
...............................................................................
$
Balance before adjustment [see (b)]
................................................
Adjustment required
.......................................................................
$
The journal entry would therefore be as follows:
(d) Accounts Receivable Turnover Ratios:
Enter your answer here
Average Collection Period:
Enter your answer here
Problem 8-6B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
5
20
Feb
18
Apr
20
30
May
25
Aug
18
Sept.
1
Problem 9-2B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
If there are two entries for the same day, then you do not need to enter the date again.
Date
Account Titles and Explanation
Debit
Credit
April
1
May
1
May
1
June
1
Sept
1
PART B
Dec
31
31
(c)
Partial Balance Sheet
TONG CORPORATION
Partial Balance Sheet
December 31, 2014
Assets
Plant assets
Account title
Amount
Account title
Amount
Account title
Amount
Account title (or contra account)
Amount
Total plant assets
Amount
Problem 9-7B
(a)
BUS 1
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 2
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 3
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
(b)
BUS 2
Year
Depreciation Expense
Amount
Amount
.
Problem 14-4AFinancial information for Ernie Bishop Company is pre.docx
Problem 14-4A
Financial information for Ernie Bishop Company is presented below.
ERNIE BISHOP COMPANY
Balance Sheets
December 31
Assets
2013
2012
Cash
$ 70,000
$ 65,000
Short-term investments
52,000
40,000
Receivables (net)
98,000
80,000
Inventory
125,000
135,000
Prepaid expenses
29,000
23,000
Land
130,000
130,000
Building and equipment (net)
168,000
175,000
$672,000
$648,000
Liabilities and Stockholders’ Equity
Notes payable
$100,000
100,000
Accounts payable
48,000
42,000
Accrued liabilities
44,000
40,000
Bonds payable, due 2016
150,000
150,000
Common stock, $10 par
200,000
200,000
Retained earnings
130,000
116,000
$672,000
$648,000
ERNIE BISHOP COMPANY
Income Statement
For the Years Ended December 31
2013
2012
Net sales
$858,000
$798,000
Cost of goods sold
611,000
575,000
Gross profit
247,000
223,000
Operating expenses
204,500
181,000
Net income
$ 42,500
$ 42,000
Additional information:
1.
Inventory at the beginning of 2012 was $118,000.
2.
Total assets at the beginning of 2012 were $632,000.
3.
No common stock transactions occurred during 2012 or 2013.
4.
All sales were on account.
5.
Receivables (net) at the beginning of 2012 were $88,000.
(a)
Indicate, by using ratios, the change in liquidity and profitability of Ernie Bishop Company from 2012 to 2013.
(Round Earnings per share to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
2012
2013
Change
LIQUIDITY
Current
Acid-test
Receivables turnover
Inventory turnover
PROFITABILITY
Profit margin
Asset turnover
Return on assets
Earnings per share
$
(b)
Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2013, and (2) as of December 31, 2014, after giving effect to the situation. Net income for 2014 was $50,000. Total assets on December 31, 2014, were $700,000.
Situation
Ratio
(1)
18,000 shares of common stock were sold at par on July 1, 2014.
Return on common stockholders’ equity
(2)
All of the notes payable were paid in 2014. The only change in liabilities was that the notes payable were paid.
Debt to total assets
(3)
Market price of common stock was $9 on December 31, 2013, and $12.50 on December 31, 2014.
Price-earnings ratio
2013
2014
Change
Return on common stockholders’ equity
Debt to total assets
Price-earnings ratio
Click if you would like to Show Work for this question:
Open Show Work
.
Problem and solution essay about the difficulties of speaking Engli.docx
Problem and solution essay about the difficulties of speaking English language for international students in the foriegn country.
- introduction with good thesis statement( start with transition word and include the problem and solution)
- first body paragraph ( define and explain the problem)
- second body paragraph. give the solution
- conclusion
two paraphrase
.
problem 8-6 (LO 4) Worksheet, direct and indirect holding, interco.docx
problem 8-6 (LO 4) Worksheet, direct and indirect holding, intercompany mer-
chandise,
machine. The
following
diagram
depicts
the
relationships
among
Mary
Company, John Company, and Joan Company on December 31, 2014:
Mary
John
Owns 60%
Owns 40%
Joan
Owns 50%
Mary Company purchases its interest in John Company on January 1, 2012, for $204,000.
John Company purchases its interest in Joan Company on January 1, 2013, for $75,000. Mary
Company purchases its interest in Joan Company on January 1, 2014, for $72,000. All invest-
ments are accounted for under the equity method. Control over Joan Company does not occur
until the January 1, 2014, acquisition. Thus, a D&D schedule will be prepared for the invest-
ment in Joan as of January 1, 2014.
The following stockholders’ equities are available:
John
Joan
Company
December31
,
December 31
2011
2012
2013
Commonstock ($10par). ........... ............
$150,000
Commonstock ($10par). ........... ............
$100,000
$100,000
Paid-incapitalinexcess of par ............. ..... 75,000
Retained earnings .............................
75,000
50,000
80,000
Totalequity ......... ........... ............
$300,000
$150,000
$180,000
On January 2, 2014, Joan Company sells a machine to Mary Company for $20,000. The
machine has a book value of $10,000, with an estimated life of five years and is being depre-
ciated on a straight-line basis.
John Company sells $20,000 of merchandise to Joan Company during 2014 to realize a gross
profit of 30%. Of this merchandise, $5,000 remains in Joan Company’s December 31, 2014,
inventory. Joan owes John $3,000 on December 31, 2014, for merchandise delivered during
2014.
Trial balances of the three companies prepared from general ledger account balances on
December 31, 2014, are as follows:
Mary
John
Joan
Cash ...................... ........... ......
62,500
60,000
30,000
Accounts Receivable ........................... 200,000
55,000
30,000
Inventory ................... ........... ......
360,000
80,000
50,000
Investmentin JohnCompany........... ........ 270,000
Investmentin JoanCompany........... .......... 86,000
107,500
Property, Plant,andEquipment.... ........... ...2,250,000
850,000
350,000
Accumulated Depreciation ....... ........... .... (938,000)
(377,500)
(121,800
Mary
John
Joan
Intangibles.... ........... ........... .........
15,000
Accounts Payable ............... ........... ...
(215,500)
(61,000)
(22,000)
AccruedExpenses............... ........... ...
(12,000)
(4,000)
(1,200)
BondsPayable. ........... ........... .........
(500,000)
(300,000)
(100,000)
Common Stock($5par) ........................
(500,000)
Common Stock($10par) ....................... (150,000)
Common Stock($10par) ....................... (100,000)
Paid-In Capital inExcessof Par ...... ........... (700,000)
(75,000).
Problem 1-4A (Part Level Submission)Matt Stiner started a delivery.docx
Problem 1-4A (Part Level Submission)
Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. The following transactions occurred during the month of June.
June 1
Stockholders invested $14,493 cash in the business in exchange for common stock.
2
Purchased a used van for deliveries for $14,932. Matt paid $3,189 cash and signed a note payable for the remaining balance.
3
Paid $669 for office rent for the month.
5
Performed $4,502 of services on account.
9
Declared and paid $203 in cash dividends.
12
Purchased supplies for $109 on account.
15
Received a cash payment of $1,468 for services provided on June 5.
17
Purchased gasoline for $124 on account.
20
Received a cash payment of $1,385 for services provided.
23
Made a cash payment of $531 on the note payable.
26
Paid $122 for utilities.
29
Paid for the gasoline purchased on account on June 17.
30
Paid $1,255 for employee salaries.
(a)
Show the effects of the previous transactions on the accounting equation.
(If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.)
STINER DELIVERIES
Assets
=
Liabilities
+
Stockholders' Equity
Retained Earnings
Date
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
=
Notes
Payable
+
Accounts
Payable
+
Common
Stock
+
Revenues
–
Expenses
–
Dividends
June 1
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
2
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
3
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
5
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
9
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
12
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
15
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
17
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
20
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
23
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
26
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed].
PROBLEM 5-5BPrepare a correct detailed multiple-step income stat.docx
PROBLEM 5-5B
Prepare a correct detailed multiple-step income statement.
Assume a tax rate of 25%.
WRIGHT COMPANY
Income Statement
For the Month Ended December 31, 2014
Sales Revenues
Account title
Amount
Account title
Amount
Account title
Amount
Net Sales
Cost of goods sold
Gross profit
Amount
Operating Expenses
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Total operating expenses
Amount
Income from operations
Amount
Other revenues and gains
Account title
Amount
Other expenses and losses
Account title
Amount
Amount (Total)
Income before income taxes
Income tax expense
Net Income
P5-5B
An inexperienced accountant prepared this condensed income statement for
Wright Company, a retail firm that has been in business for a number of years.
WRIGHT COMPANY
Income Statement
For the Year Ended December 31, 2014
Revenues
Net sales $952,000
Other revenues 16,000
968,000
Cost of goods sold 548,000
Gross profit 420,000
Operating expenses
Selling expenses 160,000
Administrative expenses
104,000
264,000
Net earnings $156,000
As an experienced, knowledgeable accountant, you review the statement and determine
the following facts.
1. Net sales consist of sales $972,000, less freight-out on merchandise sold $20,000.
2. Other revenues consist of sales discounts $12,000 and interest revenue $4,000.
3. Selling expenses consist of salespersons’ salaries $88,000; depreciation on equip-
ment $4,000; sales returns and allowances $46,000; advertising $12,000; and sales
commissions $10,000. All compensation should be recorded as Salaries and Wages
Expense.
4. Administrative expenses consist of office salaries $54,000; dividends $14,000; utili-
ties $13,000; interest expense $3,000; and rent expense $20,000, which includes
prepayments totaling $2,000 for the first month of 2015. The utilities represent
utilities paid. At December 31, utility expense of $3,000 has been incurred but not
paid.
Problem 6-2B
(a) Determine the Cost of Goods Available for Sale
Date
Explanation
Units
Unit Cost
Total Cost
Total
(b) Determine the ending inventory and cost of goods sold under each of the assumed cost flow methods.
Prove the accuracy of the cost of goods sold under FIFO and LIFO.
FIFO
(1) Ending Inventory
(2) Cost of Goods Sold
Date
Units
Unit Cost
Total Cost
Cost of goods available for sale
Amount
Amount
Amount
Less: ending inventory
Amount
Amount
Amount
Total
Amount
Total
Amount
Cost of Goods Sold
Amount
Proof of Cost of Goods Sold (FIFO)
Date
Units
Unit Cost
Total Cost
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Total
Amount
Total
Amount
LIFO
(1) Ending Inventory
(2) Cost of Goods Sold
Date
Units
Unit Cost
Total Cost
Cost of goods available for sale
Amount
Amount
Amount
Less: ending inventory
Amount
Amount
Amount
Total
Amount
Total
Amount
Cost of Goods Sold
Amount
Proof of .
Problem 12-9ACondensed financial data of Odgers Inc. follow.ODGE.docx
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 147,864
$ 88,572
Accounts receivable
160,674
69,540
Inventory
205,875
188,216
Prepaid expenses
51,972
47,580
Long-term investments
252,540
199,470
Plant assets
521,550
443,775
Accumulated depreciation
(91,500
)
(95,160
)
Total
$1,248,975
$941,993
Liabilities and Stockholders’ Equity
Accounts payable
$ 186,660
$ 123,159
Accrued expenses payable
30,195
38,430
Bonds payable
201,300
267,180
Common stock
402,600
320,250
Retained earnings
428,220
192,974
Total
$1,248,975
$941,993
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$710,882
Less:
Cost of goods sold
$247,892
Operating expenses, excluding depreciation
22,710
Depreciation expense
85,095
Income tax expense
49,922
Interest expense
8,656
Loss on disposal of plant assets
13,725
428,000
Net income
$ 282,882
Additional information:
1.
New plant assets costing $183,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $105,225 and accumulated depreciation of $88,755 were sold for $2,745 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $47,636 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method.
(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.
Statement of Cash Flows
For the Year Ended December 31, 2014
$
$
$
[removed]
.
Problem 13-6AIrwin Corporation has been authorized to issue 20,80.docx
*Problem 13-6A
Irwin Corporation has been authorized to issue 20,800 shares of $100 par value, 10%, noncumulative preferred stock
and 981,000 shares of no-par common stock. The corporation assigned a $2.50 stated value to the common stock. At
December 31, 2014, the ledger contained the following balances pertaining to stockholders’ equity.
The preferred stock was issued for land having a fair value of $142,900. All common stock issued was for cash. In
November, 1,500 shares of common stock were purchased for the treasury at a per share cost of $14. In
December, 500 shares of treasury stock were sold for $15 per share. No dividends were declared in 2014.
Preferred Stock $119,000
Paid-in Capital in Excess of Par—Preferred Stock 23,900
Common Stock 981,000
Paid-in Capital in Excess of Stated Value—Common Stock 1,781,300
Treasury Stock (1,000 common shares) 14,000
Paid-in Capital from Treasury Stock 500
Retained Earnings 81,600
.
Problem 1-2A (Part Level Submission)On August 31, the balance sh.docx
Problem 1-2A (Part Level Submission)
On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $11,249, Accounts Receivable $4,649, Supplies $600, Equipment $6,000, Accounts Payable $6,549, Common Stock $15,176, and Retained Earnings $773. During September, the following transactions occurred.
1.
Paid $2,933 cash for accounts payable due.
2.
Collected $1,339 of accounts receivable.
3.
Purchased additional equipment for $1,727, paying $792 in cash and the balance on account.
4.
Earned revenue of $7,976, of which $2,117 is collected in cash and the balance is due in October.
5.
Declared and paid a $2,338 cash dividend
6.
Paid salaries $2,401, rent for September $1,011, and advertising expense $191.
7.
Incurred utilities expense for month on account $257.
8.
Received $11,046 from Capital Bank on a 6-month note payable.
(a)
Your answer is partially correct. Try again.
Prepare a tabular analysis of the September transactions beginning with August 31 balances.
(If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.)
DONAHUE VETERINARY CLINIC
Assets
Liabilities
Stockholders' Equity
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
=
Notes
Payable
+
Accounts
Payable
+
Common
Stock
+
Retained
Earnings
+
Revenues
–
Expenses
–
Dividends
Bal.
$
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
1.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
2.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
3.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
4.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
5.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
6.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
7.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
8.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
=
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
.
Problem 1-2A (Part Level Submission)On August 31, the balance shee.docx
Problem 1-2A (Part Level Submission)
On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $10,017, Accounts Receivable $3,417, Supplies $600, Equipment $6,000, Accounts Payable $5,317, Common Stock $13,962, and Retained Earnings $755. During September, the following transactions occurred.
1.
Paid $2,747 cash for accounts payable due.
2.
Collected $1,407 of accounts receivable.
3.
Purchased additional equipment for $2,004, paying $818 in cash and the balance on account.
4.
Earned revenue of $7,940, of which $2,680 is collected in cash and the balance is due in October.
5.
Declared and paid a $1,115 cash dividend
6.
Paid salaries $2,507, rent for September $1,185, and advertising expense $131.
7.
Incurred utilities expense for month on account $267.
8.
Received $12,192 from Capital Bank on a 6-month note payable.
(a)
Prepare a tabular analysis of the September transactions beginning with August 31 balances.
(If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.)
DONAHUE VETERINARY CLINIC
Assets
Liabilities
Stockholders' Equity
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
=
Notes
Payable
+
Accounts
Payable
+
Common
Stock
+
Retained
Earnings
+
Revenues
–
Expenses
–
Dividends
Bal.
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
1.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
2.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
3.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
4.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
5.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
6.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
7.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
8.
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
=
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
Click if you would like to Show Work for this.
Prior to posting in this discussion, completeThe Parking Garage.docx
Prior to posting in this discussion, complete
The Parking Garage
scenario interactivity module and view the video,
This is Water by David Foster Wallace
. Reflect on what you have seen and recall a time when you experienced simplistic and unfounded stereotypical thinking. What could you have done differently? What is something that you need to work on in the future to become a better critical thinker? 200 words
.
Prior to engaging in this discussion, read Chapters 10 and 11 in y.docx
Prior to engaging in this discussion, read Chapters 10 and 11 in your text as well as the “Steps for Effective Discharge Planning” article, and review any relevant Instructor Guidance.
For this discussion, refer to the information in the
“Introduction to the Miller Family”
document.
Select one of the family members below whose medical condition has the potential to have worsened to the point that they would need to be hospitalized. Once you have chosen your subject, create a discharge scenario. Each of these family members has been introduced in an earlier assignment. Be sure to review your materials for that assignment including any relevant instructor feedback.
Option 1:
Elías - leukemia
Option 2:
Lila - diabetes (IDDM)
Option 3:
Sam - liver disease caused by heavy drinking
Option 4:
Lucy - bipolar disorder and serious substance abuse (dual diagnosis)
In your initial post, create and present a possible scenario in order to respond to the subject’s discharge from the hospital. See earlier assignments for samples of how to begin crafting the scenario for your subject. Remember to be creative, refer to the “Introduction to the Miller Family” document, and include as much detailed information as appropriate. Be sure to address the following points in your initial post.
Describe the specific issues that need to be addressed when discharging this patient.
Briefly identify who (individuals, professionals, agencies, or organizations) might be identified in the plan, what needs to be done, and when it should happen.
Identify community resources (e.g., doctors, counselors, and agencies) that will be needed, what their roles are in the plan, and assess how they might meet the needs of your patient. Integrate the biological theory of intellect and cognition with your subject’s sociocultural experiences in order to better ascertain his or her needs.
Identify and discuss at least one barrier for success based on the individual’s intellect and his or her sociocultural experiences and perspectives. Critique the contributions of community-based programs and how they might alleviate issues related to this barrier.
dq2
Watch one of the eight videos from
The Future of Medicine
playlist. Then, go to the Ashford University Library and find two research articles related to the social impact or relevance of the topic addressed in your selected video. For assistance with finding peer-reviewed articles, please see the
tutorial
on the Ashford University Library website. Consider the work you have completed in the previous discussions throughout the course. Summarize how we, as individuals, are affected by disease, disability, or disorder. What emotions do we experience toward others with these conditions (empathy, judgment, fear, guilt)? Critique the contributions of community-based programs and how they influence our societal reactions to diseases, disabilities, and disorders. Examine and comment on the ways in which individuals, families, communi.
Privacy in a Technological AgePrivacy protection is a hot top.docx
Privacy in a Technological Age:
Privacy protection is a hot topic in today’s data-hungry technological world
. In a well-written paper,
1.
Begin with an examination of an individual’s right to privacy
.
Then consider
2.
How advanced surveillance and monitoring technologies might intrude upon this right to privacy.
3.
How might the roles and obligations of an organization conflict with its workers right to privacy?
Provide specific examples to support your analysis.
Your well-written paper should be 2-3 pages in length and formatted according to the
CSU-Global Guide to Writing and
APA Requirements
. You should reference 2-3 scholarly sources (your textbook can count as one of these). The CSU-Global Library is a good place to find these scholarly sources
Textbook is attached
Reynolds, G. W. (2014).
Ethics in information technology
(5th ed.). Stamford, CT: Cengage Learning
Note:
I don’t need cover page.
.
Privacy Introduction Does the technology today Pene.docx
Privacy :
Introduction
Does the technology today
Penetrates
our
privacy
?
Harms and the benefits.
What is the natural right for privacy ?
How we can trust the people or the organizations in our privacy ?
Does the governments have the right to go through our privacy? why ?
What the limit for privacy ?
How we can protect our privacy ?
Conclusion
.
Prisoner rights in America are based largely on the provisions of th.docx
Prisoner rights in America are based largely on the provisions of the Bill of Rights. In this assignment, you will research the U.S. Bill of Rights and explain its major provisions. You should address the impact that the Bill of Rights has had on the field of criminal justice, corrections, and prisoners' rights. Also, explain how the Bill of Rights is applied at the state level.
Identify and explain the major provisions of the Bill of Rights.
How has the Bill of Rights significantly impacted the prisoners' rights and the fields of criminal justice and corrections?
Explain how the Bill of Rights is applied at the state level.
What are 2 major avenues of relief pursued by prisoners?
You must reference at least 2 credible sources in APA style.
4 pages
No plagerism
Abstract and Reference Page
.
Principles of Supply and Demanda brief example of supply and deman.docx
Principles of Supply and Demand
a brief example of supply and demand for public health goods and services. Select two factors that might influence price elasticity of demand for public health goods or services in your example. Explain how and why price elasticity might influence the quantity of goods and services demanded in that example.
.
Primary Task Response Within the Discussion Board area, write 300.docx
Primary Task Response:
Within the Discussion Board area, write 300–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Interest groups play a significant role in contemporary American politics, on a wide range of public policy issues, from healthcare (Affordable Care Act, for example) to gun control (the NRA is a well-known example), and from financial services regulation to regulating food production.
For this discussion board, choose an interest group that appeals to you and then identify a public policy issue that your selected interest group is working on impacting. In addition, include the following information:
What types of activities are conducted by your interest group? Provide examples of activities undertaken by the group within the last 12 months. Activities can include lobbying, television or radio spots, media spots, rallies or other activities. Also, if available, provide links to any news articles about the organization’s activities or press releases from the organization or other articles from the organization’s website for your classmates’ reference.
How is your chosen interest group connected to the average citizen, if at all? Provide examples of average citizens’ involvement in your chosen interest group, if any. If your chosen interest group rarely or does not interact with the average citizen, please discuss how the work of your chosen interest group indirectly impacts the average citizen, if at all.
Do you believe that interest groups do, or have the ability to, promote corruption in government? Explain your position. If they do or have the potential to do so, why do you believe so? If not, what do you think prevents them from corrupting government? Support your position with specific examples.
.
Pretend you are a British government official during the time leadin.docx
Pretend you are a British government official during the time leading up the Revolutionary War.
Write a 2-3 paragraph letter to the editor of your local newspaper explaining your feelins about the actions of the colonists. Be sure to give examples. (Things to possibly include: Do you think they are overreacting? Why or why not? How do you feel the issues should be resolved?) Really put some thought into this assignment, it wouldn't hurt to do some outside research to support your Letter to the Editor
.
Press and Public RelationsTO Agency Health Education and Health P.docx
Press and Public Relations
TO: Agency Health Education and Health Promotion Personnel
FROM: The Director
RE: Press and Public Relations
There is an obvious need for our program to have a greater impact on our community. A great deal of our public relations efforts needs to be focused on gaining good press, radio, and television.
We have a number of activities coming up. Please write press releases and public service announcements for them and distribute them personally to each of the media representatives. Specifically, write the first one for our next major activity, which is “School Entry Immunizations for Children.” You have the date calendar for these events. Also, on Friday of next week, I want to announce to the public that we will test their homes for radon in a new, free program. Please arrange for a press conference for this. To be held in our boardroom at 2:00pm.
.
More from jeffsrosalyn (20)
Problem 7. Dollars for WaitingJeffrey Swift has been a messenger.docx
Problem 7. Dollars for WaitingJeffrey Swift has been a messenger.docx
Problem 8-2B(a) Journalize the transactions, including explanation.docx
Problem 8-2B(a) Journalize the transactions, including explanation.docx
Problem 14-4AFinancial information for Ernie Bishop Company is pre.docx
Problem 14-4AFinancial information for Ernie Bishop Company is pre.docx
Problem and solution essay about the difficulties of speaking Engli.docx
Problem and solution essay about the difficulties of speaking Engli.docx
problem 8-6 (LO 4) Worksheet, direct and indirect holding, interco.docx
problem 8-6 (LO 4) Worksheet, direct and indirect holding, interco.docx
Problem 1-4A (Part Level Submission)Matt Stiner started a delivery.docx
Problem 1-4A (Part Level Submission)Matt Stiner started a delivery.docx
PROBLEM 5-5BPrepare a correct detailed multiple-step income stat.docx
PROBLEM 5-5BPrepare a correct detailed multiple-step income stat.docx
Problem 12-9ACondensed financial data of Odgers Inc. follow.ODGE.docx
Problem 12-9ACondensed financial data of Odgers Inc. follow.ODGE.docx
Problem 13-6AIrwin Corporation has been authorized to issue 20,80.docx
Problem 13-6AIrwin Corporation has been authorized to issue 20,80.docx
Problem 1-2A (Part Level Submission)On August 31, the balance sh.docx
Problem 1-2A (Part Level Submission)On August 31, the balance sh.docx
Problem 1-2A (Part Level Submission)On August 31, the balance shee.docx
Problem 1-2A (Part Level Submission)On August 31, the balance shee.docx
Prior to posting in this discussion, completeThe Parking Garage.docx
Prior to posting in this discussion, completeThe Parking Garage.docx
Prior to engaging in this discussion, read Chapters 10 and 11 in y.docx
Prior to engaging in this discussion, read Chapters 10 and 11 in y.docx
Privacy in a Technological AgePrivacy protection is a hot top.docx
Privacy in a Technological AgePrivacy protection is a hot top.docx
Privacy Introduction Does the technology today Pene.docx
Privacy Introduction Does the technology today Pene.docx
Prisoner rights in America are based largely on the provisions of th.docx
Prisoner rights in America are based largely on the provisions of th.docx
Principles of Supply and Demanda brief example of supply and deman.docx
Principles of Supply and Demanda brief example of supply and deman.docx
Primary Task Response Within the Discussion Board area, write 300.docx
Primary Task Response Within the Discussion Board area, write 300.docx
Pretend you are a British government official during the time leadin.docx
Pretend you are a British government official during the time leadin.docx
Press and Public RelationsTO Agency Health Education and Health P.docx
Press and Public RelationsTO Agency Health Education and Health P.docx
Recently uploaded
Overview on Edible Vaccine: Pros & Cons with Mechanism
This ppt include the description of the edible vaccine i.e. a new concept over the traditional vaccine administered by injection.
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Event Link:-
https://meetups.mulesoft.com/events/details/mulesoft-mysore-presents-exploring-gemini-ai-and-integration-with-mulesoft/
Agenda
● Java 17 Upgrade Overview
● Why and by when do customers need to upgrade to Java 17?
● Is there any immediate impact to upgrading to Mule Runtime 4.6 and beyond?
● Which MuleSoft products are in scope?
For Upcoming Meetups Join Mysore Meetup Group - https://meetups.mulesoft.com/mysore/
YouTube:- youtube.com/@mulesoftmysore
Mysore WhatsApp group:- https://chat.whatsapp.com/EhqtHtCC75vCAX7gaO842N
Speaker:-
Shubham Chaurasia - https://www.linkedin.com/in/shubhamchaurasia1/
Priya Shaw - https://www.linkedin.com/in/priya-shaw
Organizers:-
Shubham Chaurasia - https://www.linkedin.com/in/shubhamchaurasia1/
Giridhar Meka - https://www.linkedin.com/in/giridharmeka
Priya Shaw - https://www.linkedin.com/in/priya-shaw
Shyam Raj Prasad-
https://www.linkedin.com/in/shyam-raj-prasad/
1.4 modern child centered education - mahatma gandhi-2.pptx
Child centred education is an educational approach that priorities the interest, needs and abilities of the child in the learning process.
Unit 8 - Information and Communication Technology (Paper I).pdf
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
How to Make a Field invisible in Odoo 17
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Digital Tools and AI for Teaching Learning and Research
This Presentation in details discusses on Digital Tools and AI for Teaching Learning and Research
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH ANSWERS.
2024.06.01 Introducing a competency framework for languag learning materials ...
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Introduction to AI for Nonprofits with Tapp Network
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
"Protectable subject matters, Protection in biotechnology, Protection of othe...
Protectable subject matters, Protection in biotechnology, Protection of other biological materials, Ownership and period of protection
How libraries can support authors with open access requirements for UKRI fund...
How libraries can support authors with open access requirements for UKRI funded books
Wednesday 22 May 2024, 14:00-15:00.
Palestine last event orientationfvgnh .pptx
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
Class 11 CBSE Business Studies Project ( AIDS TO TRADE - INSURANCE)
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Chapter 3 - Islamic Banking Products and Services.pptx
Chapter 3 - Islamic Banking Products and Services.pptxMohd Adib Abd Muin, Senior Lecturer at Universiti Utara Malaysia
This slide is prepared for master's students (MIFB & MIBS) UUM. May it be useful to all.Recently uploaded (20)
Overview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with Mechanism
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
1.4 modern child centered education - mahatma gandhi-2.pptx
1.4 modern child centered education - mahatma gandhi-2.pptx
Unit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdf
Digital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and Research
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
Introduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp Network
"Protectable subject matters, Protection in biotechnology, Protection of othe...
"Protectable subject matters, Protection in biotechnology, Protection of othe...
How libraries can support authors with open access requirements for UKRI fund...
How libraries can support authors with open access requirements for UKRI fund...
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
Chapter 3 - Islamic Banking Products and Services.pptx
Chapter 3 - Islamic Banking Products and Services.pptx
Problem 4-5ADevine Brown opened Devine’s Carpet Cleaners on March .docx
- 1. Problem 4-5A Devine Brown opened Devine’s Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,940 cash in the business. 1 Purchased used truck for $6,050, paying $3,025 cash and the balance on account. 3 Purchased cleaning supplies for $1,128 on account. 5 Paid $1,788 cash on one-year insurance policy effective March 1. 14 Billed customers $4,723 for cleaning services. 18 Paid $1,538 cash on amount owed on truck and $402 on amount owed on cleaning supplies. 20 Paid $1,648 cash for employee salaries. 21 Collected $1,926 cash from customers billed on March 14. 28 Billed customers $2,561 for cleaning services. 31
- 2. Paid gasoline for month on truck $393. 31 Withdrew $769 cash for personal use. (a) Your answer is correct. Journalize the March transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit J1 J1 J1 J1 J1 J1 J1 J1 J1
- 3. J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 [removed] [removed] [removed] Click if you would like to Show Work for this question: Open Show Work
- 4. SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 2 of 5 used (b) and (c) Your answer is partially correct. Try again. Prepare a trial balance at March 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Earned but unbilled revenue at March 31 was $843. (2) Depreciation on equipment for the month was $463. (3) One-twelfth of the insurance expired. (4) An inventory count shows $273 of cleaning supplies on hand at March 31. (5) Accrued but unpaid employee salaries were $598. DEVINE’S CARPET CLEANERS Worksheet For the Month Ended March 31, 2012
- 5. Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash [removed] [removed]
- 11. [removed] [removed] Gasoline Expense [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Salaries and Wages Expense [removed] [removed] [removed] [removed] [removed]
- 15. [removed] [removed] [removed] [removed] Salaries and Wages Payable [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Totals [removed]
- 17. [removed] [removed] [removed] [removed] Click if you would like to Show Work for this question: Open Show Work