Create chart of accounts, journal entries, T-accounts for assets, liabilities, equity, and expenses. As well as, a
Fantastic news! We've Found the answer you've been seeking!
Question:
Create chart of accounts, journal entries, T-accounts for assets, liabilities, equity, and expenses. As well as, a trial balance, adjusting entries, an income statement and a balance sheet.
Transcribed Image Text:
OCT: NOV: DEC: ACCOUNTING PROJECT JOURNAL ENTRIES 10/1 - $1,500 rent check cut & mailed to landlord for office 10/3 - $213 Office supplies ordered online using Office Depot credit account 10/5 - $5,000 payment received from client/customer for services provided in Oct 10/7 - $2,050 payroll direct deposited to employees 10/15 - $10,000 payment received from client/customer for services provided in Oct 10/22 - $2,050 payroll direct deposited to employees 11/2 - $1,500 rent check cut & mailed to landlord for office 11/4-$6,000 services rendered to client/customer but not yet paid 11/7-$2,050 payroll direct deposited to employees 11/13 - $45,000 small biz loan obtained (5% APR, 2 years int only, 365 basis) 11/22 - $2,050 payroll direct deposited to employees 11/30-$3,013 annual business insurance renewed (policy covers Dec-Nov)* 12/1 - $1,500 rent check cut & mailed to landlord for office 12/7 - $2,050 payroll direct deposited to employees 12/13 - $ interest payment directly debited from bank account for SBL 12/18 - $9,744 cash spent on company holiday party 12/22 - $7,050 payroll direct deposited to employees 12/28 - $5,000 payment received from client/customer for November services OCT: NOV: DEC: ACCOUNTING PROJECT JOURNAL ENTRIES 10/1 - $1,500 rent check cut & mailed to landlord for office 10/3 - $213 Office supplies ordered online using Office Depot credit account 10/5 - $5,000 payment received from client/customer for services provided in Oct 10/7 - $2,050 payroll direct deposited to employees 10/15 - $10,000 payment received from client/customer for services provided in Oct 10/22 - $2,050 payroll direct deposited to employees 11/2 - $1,500 rent check cut & mailed to landlord for office 11/4-$6,000 services rendered to client/customer but not yet paid 11/7-$2,050 payroll direct deposited to employees 11/13 - $45,000 small biz loan obtained (5% APR, 2 years int only, 365 basis) 11/22 - $2,050 payroll direct deposited to employees 11/30-$3,013 annual business insurance renewed (policy covers Dec-Nov)* 12/1 - $1,500 rent check cut & mailed to landlord for office 12/7 - $2,050 payroll direct deposited to employees 12/13 - $ interest payment directly debited from bank account for SBL 12/18 - $9,744 cash spent on company holiday party 12/22 - $7,050 payroll direct deposited to employees 12/28 - $5,000 payment received from client/customer for November services
Expert Answer:
Answer rating: 100% (QA)
Answer Chart of Accounts Assets 1 Cash 2 Accounts Receivable 3 Office Supplies 4 Prepaid Rent 5 Smal... View the full answer
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
Posted Date:
Students also viewed these accounting questions
-
1. Cite a few examples of the current usage of aspects of telemedicine technologies in the diagnosis and treatment of patients. Can you suggest future uses of telemedicine that would improve health...
-
Major Project - Andrew Best - Best Business Solutions Incorporated (BBSI) Andrew Best was a very inquisitive child growing up. He was a great student in school and always asked a lot of questions....
-
Problem 3.3 Minimize the functional J(x()) = f sx (s) x (s) ds, = 1 sr (s) i (s) ds, 0 subject to the endpoint conditions x (0) = 0 and x (1) = 1.
-
What evidence does Krugman provide for the prevalence of economic inequality in U.S. society? How convincing is this evidence to you? Notice how many direct quotations Kerman includes. Why do you...
-
The accounting records of Chicago Distributors, Inc., reveal the following: Requirement 1. Compute cash flows from operating activities by the indirect method. Use the format of the operating...
-
What data did Semmelweis collect, and what was the significance of those data as related to performance improvement in the present-day hospital?
-
1. A patent increases the incentive to develop new products because it ________ the price of the product and thus generates profit to cover a firms costs of _______. 2. In some cases, a patent is...
-
Why was opening trade with China permanently different from other trade agreements? What were its positive and negative impacts on the US?
-
Auditor Changes at Daily Journal Corporation Charlie Munger is vice chairman of Berkshire Hathaway Inc. and is informally known as War- ren Buffett's "right arm." Munger also serves as chairman of...
-
S [The following information applies to the questions displayed below.] Performance Products Corporation makes two products, titanium Rims and Posts. Data regarding the two products follow: Rims...
-
Are all the requirements met, or under which requirement for qualified property does the following example fail? Example: Jane purchased a desk for business use on May 11, 2014, and began using it...
-
Kroger Co. is one of the largest retail food companies in the United States as measured by total annual sales. The Kroger Co. operates supermarkets, convenience stores, and manufactures and processes...
-
a) Financial Company A borrows heavily to take over start-up chemical Company B, considering that its stock is undervalued and B can be sold quickly at a large profit once it is in operation....
-
Sam Company provides carpet cleaning services to commercial and residential customers. Using the data below, determine the contribution margin ratio for each business segment, rounded to two decimal...
-
Imagine you are a financial specialist in the Florida Department of Law Enforcement. Your agency director has received an audit report discrepancy that identified the agency was using a mixture of...
-
You are BA for an organization XYZ who have products for BPM (Business Process Management) and Document Management System to enable business process improvement for customer AER Bank. AER Bank wants...
-
Medi-Exam Health Services, Inc. (MEHS), located in a major metropolitan area, provides annual physical screening examinations, including a routine physical, EKG, and blood and urine tests. MEUS's...
-
From the following posted T accounts, reconstruct the closing journal entries for December 31, 2014. M. Foster, Capital Withdrawals 100 2,000 (Dec. 1) Insurance Expense 50 Closing 50 Net Income 700...
-
From the following adjustment data, calculate the adjustment amount and record appropriate debits or credits: a. Supplies purchased, $700; Supplies on hand, $200 b. Store equipment, $12,000;...
-
Simon Company of Bathurst completed the following transactions: Additional Data Required a. Journalize the transactions. b. Post to Allowance for Doubtful Accounts, Income Summary, or Bad Debts...
-
An economist believes that the median income of lawyers who recently graduated from law school is more than \(\$ 64,000\). He queries a random sample of 12 lawyers and obtains the accompanying data....
-
One important variable to consider in trading stock is the daily volume. Volume is measured in number of shares traded in the stock. Stocks with lower volume tend to have more variability in the...
-
The median is different from 120. An analysis of the data reveals that there are 35 minus signs and 28 plus signs. Use the sign test to test the given alternative hypothesis at the \(\alpha=0.05\)...
Study smarter with the SolutionInn App