Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Cengage comprehensive problem 1

06/01/2021 Client: saad24vbs Deadline: 3 days

READ EVERYTHING AND ADDRESS ALL QUESTIONS! LABEL EVERYTHING




Accounting Comprehensive Problem 1.




1. Create a Journal




1. C.




Journalize each of the May transactions in the two-column journal starting on Page 5 of the journal. Refer to the Chart of Accounts for exact wording of account titles. (Do not insert the account numbers in the journal at this time.)




2. B.




 Add the appropriate posting reference to the journal in CengageNOW.




6. A.




Journalize the adjusting entries on Page 7 of the journal. Refer to the Chart of Accounts for exact wording of account titles.




6. C.




Add the appropriate posting reference to the journal in CengageNOW.




2. Create A Ledger




SPREADSHEET




 and save the Excel file to your computer. Use the spreadsheet to post the May transactions from the journal to a ledger of four-column accounts. Be sure to save your work in Excel as it will be used to complete the following steps in Part 1 of this problem as well as steps in Part 2 of this problem. Your input into the spreadsheet will not be included in your grade in CengageNOW on this problem.




1. B.




For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances May 1, enter Balance in the Item column and enter ‘X’ in the Posting Reference column.




2. A.




Post the May transactions from the journal to a ledger of four-column accounts.




6. B.




Post the adjusting entries to the ledger of four-column accounts, inserting balances in the accounts affected.




3. Prepape a Unadjusted Trial Balance






Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2019. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions:




May




3




Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500.




5




Received cash from clients on account, $2,450.




9




Paid cash for a newspaper advertisement, $225.




13




Paid Office Station Co. for part of the debt incurred on April 5, $640.




15




Provided services on account for the period May 1–15, $9,180.




16




Paid part-time receptionist for two weeks’ salary including the amount owed on April 30, $750.




17




Received cash from cash clients for fees earned during the period May 1–16, $8,360.




Record the following transactions on Page 6 of the journal:




May




20




Purchased supplies on account, $735.




21




Provided services on account for the period May 16–20, $4,820.




25




Received cash from cash clients for fees earned for the period May 17–23, $7,900.




27




Received cash from clients on account, $9,520.




28




Paid part-time receptionist for two weeks’ salary, $750.




30




Paid telephone bill for May, $260.




31




Paid electricity bill for May, $810.




31




Received cash from cash clients for fees earned for the period May 26–31, $3,300.




31




Provided services on account for the remainder of May, $2,650.




31




Kelly withdrew $10,500 for personal use.




Required:




1.




The chart of accounts is shown in a separate panel and the post-closing trial balance as of April 30, 2019, is shown below.




A.




Download the spreadsheet in the Ledger panel and save the Excel file to your computer. Be sure to save your work in Excel as it will be used to complete the following steps in Part 1 of this problem as well as steps in Part 2 of this problem. Your input into the spreadsheet will not be included in your grade in CengageNOW on this problem.




B.




For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances May 1, 2019, enter Balance in the Item column and enter ‘X’ in the Posting Reference column.




C.




Journalize each of the May transactions in a two-column journal starting on Page 5 of the journal. Refer to the Chart of Accounts for exact wording of account titles. (Do not insert the account numbers in the journal at this time.)




2.




Post the journal entries on pages 5 and 6 of the journal to the ledger of four-column accounts.




A.




Use the spreadsheet to post the May transactions from the journal to a ledger of four-column accounts.




B.




Add the appropriate posting reference to the journal.




3.




Prepare an unadjusted trial balance. Accounts with zero balances can be left blank.




4.




At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).








Insurance expired during May is $275.








Supplies on hand on May 31 are $715.








Depreciation of office equipment for May is $330.








Accrued receptionist salary on May 31 is $325.








Rent expired during May is $1,600.








Unearned fees on May 31 are $3,210.




5.




(Optional) On your own paper or spreadsheet, enter the unadjusted trial balance on a 10-column end-of-period spreadsheet (work sheet), and complete the spreadsheet. Find a blank end-of-period work sheet in the Excel spreadsheet you previously downloaded.




6.




A.




Journalize the adjusting entries on Page 7 of the journal. Refer to the Chart of Accounts for exact wording of account titles.




B.




Post the adjusting entries to the ledger, inserting balances in the accounts affected.




C.




Add the appropriate posting reference to the adjusting entries in the journal in CengageNOW.




7.




Prepare an adjusted trial balance. Accounts with zero balances can be left blank.




Kelly Consulting




POST-CLOSING TRIAL BALANCE




April 30, 2019




ACCOUNT TITLE




DEBIT




CREDIT




1




Cash




22,100.00








2




Accounts Receivable




3,400.00








3




Supplies




1,350.00








4




Prepaid Rent




3,200.00








5




Prepaid Insurance




1,500.00








6




Office Equipment




14,500.00








7




Accumulated Depreciation








330.00




8




Accounts Payable








800.00




9




Salaries Payable








120.00




10




Unearned Fees








2,500.00




11




Kelly Pitney, Capital








42,300.00




12




Totals




46,050.00




46,050.00





Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

University Coursework Help
Top Essay Tutor
Helping Hand
Writer Writer Name Offer Chat
University Coursework Help

ONLINE

University Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$62 Chat With Writer
Top Essay Tutor

ONLINE

Top Essay Tutor

I have more than 12 years of experience in managing online classes, exams, and quizzes on different websites like; Connect, McGraw-Hill, and Blackboard. I always provide a guarantee to my clients for their grades.

$65 Chat With Writer
Helping Hand

ONLINE

Helping Hand

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

$60 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Life expectancy, Mortality and Burden of disease - Swanson and associates presently leases a copy machine - Un2990 'life-saving appliances self-inflating msds - Econ - Mr bump ice pack - Where to buy docx soda - Plymouth university extenuating circumstances - Cooling load temperature difference table - A data set will always have exactly one mode - The alaska gold mine case answer - Labeling exercise 8 1 patient id and blood specimen label - 1 pages(due)15 hrs - Effects of the crusades lesson plan - Tafesa adelaide city campus - What is best fit in hrm - The bijou theater in hermosa beach california shows vintage movies - New earth mining case study solution - Mod 7 NIASU Assignment and Brochure - The characters in the wizard of oz - Interview a Health Care Organization Leader - Worksheet 7.2 rates of reaction answers - Wuthering heights chapter 29 summary - Database approach to data management - Which of the following material has maximum ductility - Professional role development in nursing - The immortal life of henrietta lacks discussion questions - Proposal for server installation - Advantage of gram stain over simple stain - Non Profit journal - Red bull stratos marketing case study - Sound localization ap psychology - Practical Connection Assignement - Wetherby building systems golborne - Bus olney to milton keynes - 2 30 yarn count - Riverbed modeler academic edition 17.5 license - Tie back shoring system - Just Paraphrase a report on: The Study and Analysis of Mounted Cameras on Rails System - Discussion 2: Neurotransmitters: DUE IN 8 hours - Wilkins a zurn company demand forecasting case solution - Ben has a collection of 812 stamps - What is the purpose of a cirt plan - John b. watson argued that psychologists should - Organization Leader & Decision Making - Bsbhrm506 manage recruitment selection and induction processes answers - Quintus curtius rufus the history of alexander pdf - What cultural conflicts emerged in the 1990s - Bigfoot bbq restaurant & catering flagstaff az - Aseptic technique risk assessment - Www languagesonline org uk français encore tricolore 1 unité 8 - Who Do You Say Jesus Is? - Hands on labs answers - What happened on the day i was born essay - Pico questions for emergency nursing - Steinberg drum loop expansion 01 - Rothschild index - Gene expression worksheet - Coding in (C++) - A balanced diet is one that - Attending college is a case where the - Orange county school of the arts - develop E.R diagram, redraw case diagram, normalize relation - Stearic acid cooling curve - Amina sayeed ob gyn - Haidilao hot pot beijing robot - Bbc co uk scotland education wwww living index choice shtml - Answer questions - Is fast food to blame for obesity essay - Healthcare Management - Offset air cleaner stud o reilly - Among us always imposter glitch - Mr majeika theme tune - PSY 6-1 - Refer to the real estate data which reports - Purpose of flame test - Office 365 sign in ucl - Case 9 the data cleansing task - Lobiondo wood and haber 2018 - What is presentation expert target - The origin of ideas - Coca cola cost leadership - Lopez corporation incurred the following costs while manufacturing its product - Border crossings catherine cucinella pdf - FRAME YOUR ISSUE AND COLLECT YOUR DATA - How can Detroit schools ensure students are able to transition to new routines, expectations, and responsibilities virtually? - Invitrogen superscript iii protocol - Proactive vs clinique 3 step - Money services business act 2011 - Column size for 8m span - Woman's work poem by julia alvarez - Module 2 - Gender - Another word for leach - The most beautiful thing short film - Synthesis of triphenylmethanol lab report - Brasso metal polish msds australia - Suburban taxi trucks adelaide - Components of good health - Topic 6 DQ 2 - What is unique about staffing practices at the online shoe company zappos? - Data sheet nesa physics