ACC 205 Week 1 Exercise 7 Basic journal entries
Basic journal entries
We Write Essays For Students
Tell us about your assignment and we will find the best writer for your paper
Write My Essay For MeThe following transactions pertain to the Jennifer Royall Company:
Apr. 1 Jennifer Royall invested cash of $15,000 and land valued at $10,000 from into the business.
5 Provided $1,200 of services to Jason Ratchford, a client, on account.
9 Paid $250 of salaries to an employee.
14 Acquired a new computer for $3,200, on account.
20 Collected $800 from Jason Ratchford for services provided on April 5.
24 Borrowed $7,500 from BestBanc by securing a six-month loan.
Prepare journal entries (and explanations) to record the preceding transactions and events.
=============================================================================================/
ACC 205 Week 1 Exercise 8 Trial balance preparation
Trial balance preparation. Brighton, a sole proprietorship began operation on March 1 of the current year. The following account balances were extracted from the general ledger on March 31; all accounts have normal balances.
Accounts Payable | $ 12,000 | Interest Expense | $ 300 |
Accounts Receivable | 8,800 | Land | ? |
Advertising Expense | 5,700 | Loan Payable | 26,000 |
Bob Brighton, Owners Equity | 30,000 | Salaries Expense | 11,100 |
Cash | 22,500 | Utilities Expense | 700 |
Fees Earned 18,900 |
- Determine the cost of the company’s land by preparing a trial balance. (Remember, the trial balance debits must equal the credits, see Exhibit 2.9)
- Determine the firm’s net income for the period ending March 31.
Follow this link to get a similar paper written from scratch
Place an order for this assignment or any other paper with us. We guarantee that the paper will be delivered within the specified deadline. We also have a personalized customer support and you will be able to communicate with your writer throughout the order preparation process. Thank you for choosing us.
Struggling with paper writing? Look no further, as you have found the ideal paper writing company! We are a reputable essay writing service that offers high-quality papers at affordable prices. On our user-friendly website, you can request a wide range of assignments. Rest assured that our work is entirely original. Each essay is crafted from scratch, tailored to meet the precise requirements of your assignment. We guarantee that it will successfully pass any plagiarism check.
Get Your Assignments Completed by Expert Writers. Hire Essay Helpers for Any Task
Order essays, term papers, research papers, reaction paper, research proposal, capstone project, discussion, projects, case study, speech/presentation, article, article critique, coursework, book report/review, movie review, annotated bibliography, or another assignment without having to worry about its originality – we offer 100% original content written completely from scratch