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

Roland's overhead doors reports the following financial information

14/10/2021 Client: muhammad11 Deadline: 2 Day

MyAccountingLab Chapters 1 and 2 [WLOs: 1, 2, 3, 4] [CLOs: 1, 2]. Due by Day 7. Prior to beginning work on the exercises in MyAccountingLab this week, read Chapters 1 and 2 in the textbook. You may want to review the MyLab resources to reinforce any areas you are unclear on (optional). There are practice exercises in MyLab (not required) that can be done beforehand to prepare you for the exercises.

Short Exercises:

Chapter 1: 6, 7, 8, 12, 13, 14

Chapter 2: 2, 4, 5, 6, 7, 8

Exercises:

Chapter 1: 29, 31, 32, 33

Chapter 2: 10, 16, 17, 27

Chapter 1

SE 1-6

Thompson Handyman Services has total assets for the year of $18,400 and total liabilities of $9,050.

Requirements
1. Use the accounting equation to solve for equity.

2. If next year assets increased by $4,300 and equity decreased by $3,850, what would be the amount of total liabilities for Thompson Handyman Services?

SE 1-7

Requirements
1. Use the accounting equation to solve for the missing information.

2. Did Roland’s Overhead Doors report net income or net loss?

SE 1-8

S1-8 Identifying accounts

Learning Objective 3

Consider the following accounts:

a. Accounts Payable

b. Cash

c. Common Stock

d. Accounts Receivable

e. Rent Expense

f. Service Revenue

g. Office Supplies

h. Dividends

i. Land

j. Salaries Expense

Identify each account as Asset, Liability, or Equity.

SE 1-12

Prepare the income statement of Centerpiece Arrangements for the year ended December 31, 2018.

SE1-13

Prepare the statement of retained earnings of Centerpiece Arrangements for the year ended December 31, 2018.

SE 1-14

Prepare the balance sheet of Centerpiece Arrangements as of December 31, 2018

Using the accounting equation to analyze business transactions Ashley Stamper opened a medical practice. During July, the first month of operation, the business, titled Ashley Stamper, MD, experienced the following events:

Jul. 6 Received a contribution of $68,000 from Stamper and opened a bank account in the name of A. Stamper, MD. The corporation issued common stock to Stamper. 9 Paid $56,000 cash for land. 12 Purchased medical supplies for $1,500 on account. 15 Officially opened for business. 20 Paid cash expenses: employees’ salaries, $1,300; office rent, $1,500; utilities, $100. 31 Earned service revenue for the month, $13,000, receiving cash. 31 Paid $1,050 on account.

E-31

Requirement 1

Prepare the income statement for Wilson Towing Service for the month ending

June 30, 2018.

E-32

Requirement 1

Wilson Towing Service

Statement of Retained Earnings

Month Ended June 30, 2018

Chapter 2

SE 2-2

Identifying increases and decreases in accounts For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR).

SE 2-4

Accounts Payable

May 2

6,000

21,000

May 1

May 22

11,500

500

May 5

8,500

May 15

500

May 23

SE 2-5

John Daniel opened a medical practice in Sacramento, California, and had the following transactions during the month of January.

Journalize the transactions of John Daniel, M.D. Include an explanation with each entry.

SE 2-6

Journalizing transactions

Harper Sales Consultants completed the following transactions during the latter part of January:

Jan. 22 Performed services for customers on account, $7,500.

30 Received cash on account from customers, $8,000.

31 Received a utility bill, $220, which will be paid during February.

31 Paid mnthly salary to salesman, $2,500.

31 Received $2,310 for three months of consulting service to be performed starting in February.

31 The owner, Damón Harper, withdrew $950 from the business.

Journalize the transactions of Harper Sales Consultants. Include an explanation with each journal entry

SE 2-7

Journalizing transactions and posting to T-accounts Roland Foster Optical Dispensary completed the following transactions during the latter part of March:

Mar. 15 Purchased office supplies on account, $3,400..

28 Paid $1,800 on account.

Requirements:

1. Journalize the transactions of Roland Foster Optical Dispensary. Include an explanation with each journal entry

2. Open the following accounts (use T-account format): Cash (Beginning Balance of $21,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts, and compute the balance in each account.

SE 2-8

Smithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particular order, and all have normal balances.

E2-10

Using accounting vocabulary

Match the accounting terms with the corresponding definitions:

E2-16

Identifying accounts, increases in accounts, and normal balances

a. Interest Revenue

b. Accounts Payable

c. Curtis, Capital

d. Office Supplies

e. Advertising Expense

f. Unearned Revenue

g. Prepaid Rent

h. Utilities Expense

i. Curtis, Withdrawals

j. Service Revenue

Requirements

1. Identify each account as asset (A), liability (L), or equity (E)

2. Identify whether the account is increased with a debit (DR) or credit (CR)

3. Identify whether the normal balance is a debit (DR) or credit (CR)

E2-27 Correcting errors in a trial balance

The following trial balance of Joy McDowell Tutoring Service as of May 31, 2018, does not balance.

Investigation of the accounting records reveals that the bookkeeper:

a. Recorded a $400 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct.

b. Posted a $2,000 credit to Accounts Payable as $200.

c. Did not record Utilities Expense or the related Utilities Payable in the amount of $300.

d. Understated McDowell, Capital by $100.

Prepare the corrected trial balance as of May 31, 2018, complete with a heading; journal entries are not required.

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:

Engineering Exam Guru
Calculation Master
Quick N Quality
Study Master
Engineering Solutions
Engineering Mentor
Writer Writer Name Offer Chat
Engineering Exam Guru

ONLINE

Engineering Exam Guru

I have done dissertations, thesis, reports related to these topics, and I cover all the CHAPTERS accordingly and provide proper updates on the project.

$29 Chat With Writer
Calculation Master

ONLINE

Calculation Master

Being a Ph.D. in the Business field, I have been doing academic writing for the past 7 years and have a good command over writing research papers, essay, dissertations and all kinds of academic writing and proofreading.

$17 Chat With Writer
Quick N Quality

ONLINE

Quick N Quality

I am an academic and research writer with having an MBA degree in business and finance. I have written many business reports on several topics and am well aware of all academic referencing styles.

$18 Chat With Writer
Study Master

ONLINE

Study Master

I reckon that I can perfectly carry this project for you! I am a research writer and have been writing academic papers, business reports, plans, literature review, reports and others for the past 1 decade.

$35 Chat With Writer
Engineering Solutions

ONLINE

Engineering Solutions

I will be delighted to work on your project. As an experienced writer, I can provide you top quality, well researched, concise and error-free work within your provided deadline at very reasonable prices.

$50 Chat With Writer
Engineering Mentor

ONLINE

Engineering Mentor

As per my knowledge I can assist you in writing a perfect Planning, Marketing Research, Business Pitches, Business Proposals, Business Feasibility Reports and Content within your given deadline and budget.

$23 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

Redbank secure children's home - Ol 342 milestone one - Fiction book report example - Ed masry law firm - Other names for flip flops - Analysis of a commercial bleach post lab answers - Freedom on my mind volume 2 - Financial Statements, Financial Statement Analysis & Break-even, Financial and Operating Leverages - Abc company recognizes revenue at the point of shipment - The flowers by alice walker theme - Perfect maia mayor lyrics - Axe target market demographics - Swinburne online teaching periods 2021 - Christopher Columbus - Sovereign debt racing post - Asian american culture essay - 11029 - Amp flexible lifetime super abn - Scratch cards tower hamlets - How to make a jefferson wheel cipher - Lincoln and guba 1985 trustworthiness of the study - Aluminium can crusher plans - Look say cover write check strategy - Interrogations-- CJT202 DICUSSON BOARD - Naive realism anthropology examples - Earnings per share measures the net income earned - Epass nt schools net - 1 mile fitness test - Content process product examples - Swot analysis lululemon athletica inc - Presto company makes radios that sell for - Putting the brakes on teenage driving speech analysis - Bright sun family day care - Target market for jeep grand cherokee - Chapter 16 international pay systems - Struggles with society - Kitwood malignant social psychology - Emg pickup color code - Heating land and water lab answers - South dakota v. dole - A6 paper size in cm - How to write an informative speech outline - Formula for manganese 4 oxide - Cbus fund phone number - Peer evaluation rubric for presentation - Types of management accounting techniques - Under what type of marketing does kliptech operate - Information Governance - 1998 roman missal text - Dave and busters fair oaks groupon - Develop a hypothesis relating to the amount of dissolved oxygen - 978 1 259 73278 2 - Stores material within the cell - Essay - Guide dogs regional offices - Zones of regulation free printables - CPT approval - MG401 Discussion Post 1 - Time cost trade off analysis in project management - Post a three paragraph (at least 350 words) that addresses the following: - Methoxy group electron donating or withdrawing - Case study - Learning theory of career counseling - North ainslie primary school - Social science question - The greatest showman dvd ireland tesco - Pink puffers blue bloaters - Hw 5 pt1 - Animal farm propaganda poster - Clash how to thrive in a multicultural world sparknotes - Acls patient cases robert mccrae answers - Project: Evaluate the Capital Investment - Astro unl edu naap hr animations hr html - How to make inventory app in android studio - Naturally weight loss - Order of operations with brackets and braces worksheet - Week 4 Project - What is a positive chvostek sign - Research paper - Poetry analysis paragraph example - Qualified integrator and reseller definition - Galvanic cell reaction equation - Health Care Literacy Presentation - Parent teacher conference form template - The chrysalids chapter 3 - Caroline springs leisure centre - Lewin's model of change nursing - British journal of management submissionbritish journal of management submission - Assignment - Wireshark ip lab solutions - Arm span vs height data - Computer Information System - BYSY (Business Information Systems) - Word Project - A level chemistry ionisation energy questions - 40 hour surface mining class wv online - An incident based peer review committee - Fluid mechanics with engineering applications by franzini - School by kyoko mori questions and answers - Terms of engagement template - Ambulatory care royal north shore