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Portfolio Project Option #2 is for accounting students who are intuitive learners by nature. You learn best from abstract materials like theories and concepts, enjoy challenges, and tend to be more innovative. For this assignment, you are required to complete all three accounting cases: Link Works, Ace Construction Company, and Seminole Company. You will then present the journal entries for Parts 1, 2, and 3 in PowerPoint format. Follow the additional instructions provided below.
Assignment Template attached below
Part 1:
Karla Tanner opened a web consulting business called Link Works and completed the following transactions during the first month of operations:
April 1: Tanner invested $80,000 cash along with equipment valued at $26,000 in the company.
April 2: Link Works pre-paid $9,000 for 12 months’ rent for their office space.
April 3: Link Works made credit purchases of $8,000 for office equipment and $3,600 for office supplies. Payment is due within 10 days.
April 6: Link Works completed services for a client and immediately received $4,000 cash.
April 9: Link Works completed a $6000 project for a client who must pay within 30 days.
April 13: Link Works paid $11,600 cash to settle the accounts payable created on April 3.
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