Question: I need help with an accounting Case Study. its not a hard question i just don't have time to do it before the deadline. Case

I need help with an accounting Case Study. its not a hard question i just don't have time to do it before the deadline.

I need help with an accounting Case Study. its not a hard

Case Study 1 (Part A) (Learning Objectives 4, 5, 6: Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions: June 2 Gordon received $55,000 cash and issued common stock to the stockholders. 3 Purchased supplies, $3,000, and equipment, $5,200, on account. 4 Performed services for a client and received cash, $6,300. 7 Paid cash to acquire land, $37,000. 11 Performed services for a customer and billed the customer, $1,200. Johnson expects to collect within one month. 16 Paid partial for the equipment purchased June 3 on account $2,800. 17 Paid the telephone bill, $230. 18 Received partial payment from customer on account, $700. 22 Paid the water and electricity bills, $400. 29 Received $5,000 cash for repairing the pipes of a customer. 30 Paid employee salary, $4,300. 30 Declared and paid dividends of $3,000. Requirements 1. Record each transaction in the journal. Key each transaction by date. Explanations are not required. 2. Post the transactions to the T-accounts, using transaction dates as posting references. 3. Prepare the trial balance of Gordon Construction, Inc., at June 30, 20xx. 4. The manager asks you how much in total resources the business has to work with and, how much it owes. Case Study 1 (Part B) Requirement 1 (Learning Objectives 3, 4: Adjust the accounts; construct the financial statements) Record the following month end adjusting entries for Gordon Construction, Inc. at June 30, 20xx Month end accruals at June 30, 20xx: a. Accrued advertising revenue at June 30, $3,100. b. Supplies used during June, $2,300. c. Accrued salary expense at June 30 for Monday, Tuesday, and Wednesday. The five-day weekly payroll is $6,100 and will be paid on Friday. Requirement 2 Prepare adjusted trial balance for Gordon Construction at June 30, 20xx. ACCT504 - Case 1 - Part A Date Jun 2 Jun 3 Account Titles Cash Common Stock Debit account title Credit account title Debit Credit 55,000 55,000 ACCT504 - Case 1- Part A 6/2 CASH 55,000 Bal. COMMON STOCK 6/2 Bal. 55,000 TITLE TITLE TITLE TITLE TITLE TITLE TITLE TITLE TITLE TITLE 55,000 55,000 ACCT504 - Case 1- Part A Gordon Contruction, Inc. Trial Balance June 30, 2014 Account titles Cash Accounts receivable Supplies Equipment Land Accounts payable Common Stock Dividends Service revenue Salary expense Utilities expense Total Q1 Q2 Q3 Debit 55,000 55,000 55,000 Please answer the 3 questions for Requirement 4 below. How much is the total resources? How much does the business owe? Was June profitable and by how much? Credit 55,000 ACCT504 - Case 1 - Part B Month End Adjusting Entries Date Jun 30 Jun 30 June 30 Account Titles Debit Credit ACCT504 - Case 1- Part B Key each adjusting entry by letter in column i. When you plug in your adjustments below into columns j and k, the adjusted Gordon Construction, Inc. Trial Balance Work Sheet Adjusted Trial Balance June 30, 2014 Account titles Cash Accounts receivable Supplies Equipment Land Accounts payable Salary payable Common Stock Divdends Service Revenue Salary Expense Utilities Expense Supplies Expense Total Adjustments Trial Balance Debit Credit 55,000 0 0 0 0 Debit Credit Debit 55,000 0 0 0 0 0 0 55,000 0 0 0 0 0 0 55,000 55,000 0 0 0 0 0 55,000 Credit 0 0 55,000 0 0 55,000 ted trial balance will change automatically. Case Study 1 Grading Rubric - Students Criteria Parts Part A Requirement 1 Part A Requirement 2 Part A Requirement 3 Part A Requirement 4 Part B Requirement 1 Part B Requirement 2 Requirement Points Record the Journal Entries Post transactions to the General Ledger Taccounts Prepare the Trial Balance Answer the 3 questions 30 15 15 10 Record Adjusting 15 Journal Entries Prepare Adjusted 15 Trial Balance Total Points 100 Please note: Your work will be graded based on accuracy but there is always the opportunity for partial credit for attempted wo mpted work

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