External link to Accounting   Equation discussion Paper

Accounting   Equation discussion Paper

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Reference the Discussion Forum Grading Rubric for guidance on how your discussion will be evaluated.   Accounting   Equation As you have learned in this week’s readings […]

External link to The definition of Accounts assignment

The definition of Accounts assignment

Accounts What does the term account mean?  What are the different classifications of accounts?  How do the rules for debits and credits impact accounts?  Please provide an example of how debits and credits impact accounts. Guided Response: Analyze several of your peers’ posts.  Let at least two of your peers know if this knowledge could be used in their everyday lives.  Is so, how?  If […]

External link to Journal entry preparation paper

Journal entry preparation paper

Journal entry preparation. On January 1 of the current year, Peter Houston invested $80,000 cash into his company MuniServ. The cash was obtained from an owner investment by Peter Houston of $50,000 and a $30,000 bank loan. Shortly thereafter, the company ac­quired selected assets of a bankrupt competitor. The acquisition included land ($10,000), a building ($40,000), and vehicles ($10,000). MuniServ paid $45,000 at the time […]

External link to Entry and trial balance preparation

Entry and trial balance preparation

Entry and trial balance preparation. Lee Adkins is a portrait artist. The following schedule represents Lee’s combined chart of accounts and trial balance as of May 31. Account number Account name Debit Credit   110 Cash $ 2,700   120 Accounts   Receivable $99,000   The general ledger also revealed account no. 530, Legal and Accounting Expense. The following transactions occurred during June:   6/2 Collected […]

External link to Transaction analysis and statement preparation

Transaction analysis and statement preparation

Transaction analysis and statement preparation. The transactions that follow relate to Burton Enterprises for March 20X1, the company’s first month of activity.   3/1 Joanne Burton, the   owner, invested $20,000 cash into the business.   3/4 Performed $2,400 of   services on account.   3/7 Acquired a small parcel   of land by paying $6,000 cash   3/12 Received $500 from a   client who was billed previously […]

External link to Basic transaction processing paper

Basic transaction processing paper

Basic transaction processing.  On November 1 of the current year, Richard Simmons established a sole proprietorship. The following transactions occurred during the month: 1: Simmons invested $32,000 into the business for $32,000 in common stock. 2: Paid $5,000 to acquire a used minivan. 3: Purchased $1,800 of office furniture on account. 4: Performed $2,100 of consulting services on account. 5: Paid $300 of repair expenses. […]

External link to Basic Accounting Equations paper

Basic Accounting Equations paper

Basic Accounting Equations 1. Recognition of normal balances  The following items appeared in the accounting records of Triguero’s, a retail music store that also sponsors concerts. Classify each of the items as an asset, liability; revenue; or expense from the company’s viewpoint. Also indicate the normal account balance of each item. a. Amounts paid to a mall for rent. b. Amounts to be paid in […]

External link to Accounting   Cycle discussion paper

Accounting   Cycle discussion paper

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Reference the Discussion Forum Grading Rubric for guidance on how your discussion will be evaluated.   Accounting   Cycle 1. Financial statements are a product of the […]

External link to Bank   Reconciliation discussion paper

Bank   Reconciliation discussion paper

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Reference the Discussion Forum Grading Rubric for guidance on how your discussion will be evaluated.   Bank   Reconciliation What is the purpose of a bank reconciliation? […]

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