reversing entries

QUESTION 1 On Aug 1. Andy Roddick became the new owner of Ace Computer Services. During the month, Roddick made the following transactions. Book these original entries: Aug 1 Roddick purchased $1.500 of Supplies for cash. Show me the entry using the traditional approach and the alternative approach.) Aug 1 Roddick borrowed 530.000 from a local bank on a 15-year mortgage. The annual interest rate is Aug 3 Roddick prepaid 6mos. of rent with 512.000 cash. (Show me the entry using the traditional approach and the alternative approach.) Aug 5 Roddick received 512.000 cash for services to be performed over a mos (Aug Sept. oct. Now (Show me the entry using the traditional approach and the alternative approach) Aug 7 Roddick purchased Equipment $10,000 on account. On UR 31. Roddick is trying to prepare monthly financial statements. Below is some information related to unrecorded expenses that the business incurred during its first month of operations. Book the appropriate adjusting entries. For the deferrals, show me the entry using the traditional approach and the alternative approach.) At Aug 31, Roddick owed his employees 51.900 in wages that will be paid on Sept 1 At Aug 31, he had not yet received the monthly utility bill. Based on past experience, he estimated that the bill would be approximately 600 At Aug 31, he needs to book the accrued interest (530.000* 31/12) - 5200) on the note payable At Aug 31, he does a physical count and has 5400 of the Supplies on hand. At Aug 31, he needs to book the adjusting entry for the prepaid rent that has been used. At Aug 31, he needs to book the adjusting entry for the portion of the revenue carned. At Aug 31, he needs to book depreciation of the equipment for 583 Roddick Company uses Reversing Entries. Book the Reversing Entries on Sept 1 if needed Attach File Browse My Computer Browse Content Collection QUESTION 1 On Aug 1, Andy Roddick became the new owner of Ace Computer Services. During the month. Roddick made the following transactions. Book these original entries: Aug 1 Roddick purchased $1.500 of Supplies for cash. (Show me the entry using the traditional approach and the alternative approach.) Aug1 Roddick borrowed 530.000 from a local bank on a 15 year mortgage. The annual interest rate is on Aug 3 Roddick prepaid 6mos. of rent with $12.000 cash. (Show me the entry using the traditional approach and the alternative approach.) Aug 5 Roddick received 312,000 cash for services to be performed over Amos Aug Sep Oct Now). (Show me the entry using the traditional approach and the alternative approach.) Aug 7 Roddick purchased Equipment 510.000 on account On Aue 31. Roddick is trying to prepare monthly financial statements. Below is some information related to unrecorded expenses that the business incurred during its first month of operations. Book the appropriate adjusting entries. For the deferrals, show me the entry using the traditional approach and the alternative approach.) At Aug 31. Roddick owed his employees 51.900 in wages that will be paid on Sept 1 At Aug 31. he had not yet received the monthly alty bil. Based on past experience, he estimated that the bill would be approximately 5600. At Aug 31, he needs to book the accrued interest (530,000 11/12) - 5200) on the note payable At Aug 31, he does a physical count and has 5400 of the Supplies on hand. At Aug 31, he needs to book the adjusting entry for the prepaid rent that has been used At Aug 31, he needs to book the adjusting entry for the portion of the revenue camed. Al Aug 31, he needs to book depreciation of the equipment for $83. Roddick Company uses Reversing Entries. Book the Reversing Entries on Sept 1 if needed Attach Fle Browse My Computer Browse Content Collection