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 quizlet

25/11/2021 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:

Accounting & Finance Specialist
Professional Coursework Help
Smart Homework Helper
Helping Hand
Engineering Mentor
Financial Assignments
Writer Writer Name Offer Chat
Accounting & Finance Specialist

ONLINE

Accounting & Finance Specialist

I have read your project details and I can provide you QUALITY WORK within your given timeline and budget.

$37 Chat With Writer
Professional Coursework Help

ONLINE

Professional Coursework Help

After reading your project details, I feel myself as the best option for you to fulfill this project with 100 percent perfection.

$48 Chat With Writer
Smart Homework Helper

ONLINE

Smart Homework Helper

As an experienced writer, I have extensive experience in business writing, report writing, business profile writing, writing business reports and business plans for my clients.

$28 Chat With Writer
Helping Hand

ONLINE

Helping Hand

As an experienced writer, I have extensive experience in business writing, report writing, business profile writing, writing business reports and business plans for my clients.

$34 Chat With Writer
Engineering Mentor

ONLINE

Engineering Mentor

I am a professional and experienced writer and I have written research reports, proposals, essays, thesis and dissertations on a variety of topics.

$24 Chat With Writer
Financial Assignments

ONLINE

Financial Assignments

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.

$16 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

I wear the black hat pdf - Crime scene investigation research paper - Nonprogrammed decision making is a routine, virtually automatic process. - Alaska airlines human resources department - Oxford phonics world 1 pdf free download - Factors to be considered for environmental scanning - Organizational Behavior - Monash course progression commerce - Research Methodology - Student Loan Debt Policy - Conflict resolution network australia - Is psychology a hard science - Convert differential equation to integral equation - Factoring polynomials word problems worksheet - Harvard global supply chain management simulation v2 answers - Frequency in digital marketing - Excel sam capstone project 1 campus fitness center - Katherine a strause american trees in summer - Field hockey attacking tactics - Honest graft and dishonest graft - Philosophy unit 5 test - Environmental sciences - Tender evaluation criteria example - Best 223 ammo for kangaroos - Discussion 250 words apa format need proof in turnitin apa format - Flow hospitality food safety level 2 answers - Homework Wk 5 - Assignment 1 Dropbox - Evidence based practice - Https www sfu ca palys miner 1956 bodyritualamongthenacirema pdf - Returns jb hi fi - Homicide week2 db - Unfolding clinical reasoning case study answers - Essay revise - Harry connick jr branford marsalis - Gram stain lab report results - Lizard evolution virtual lab answers - 5 ways to strongly authenticate a remote machine - Conclusion for superposition theorem - Security as a service business model - D2 act 3 quests - Shawn carter scholarship essay - DISCUSSION - Numbering plan in telecommunication - Discussion post - Criminal Law - Sarin and o connor 2009 article - Premier reading challenge book list - HW - DISCUSSION - Chemical compound crossword unit 3 - Sonia y andy / ir / menudo / la clínica - Wk 5, HCS/341: DQ - Mechanically held lighting contactor wiring diagram - Cmi adjusted discharge calculation - Pipelining in computer architecture - The beauty myth quote - Peer reply - Caustic fluid splashes can damage eyesight permanently - Whatever major loser get the picture duh - Hovells creek estate lara - Modules 5 8 sam capstone project 1a - Trans 5 methyl 2 heptene - Embroidery Digitizing - Culture Paper - Stacked stone fountain sharper image - CASE ANALYSIS 3 - The 2020 Trump-Biden matchup - Avinash kaushik dashboard - Merlin gerin multi 9 c60 - Bmc knowledge check answers - Optical invisibility camouflage technology - MANAGING IN THE GLOBAL ECONOMY - Southern golden retriever society - Saprona sushi west linn menu - New heritage doll company npv - Kitfox for sale australia - Aisha bint abu bakr hsc - The golden kite the silver wind cause and effect chart - Media and globalization ppt - Playgrasim - Approaches to Leadership - Tuesdays with morrie genre - The death of the ball turret gunner answers - Difference between categorical and quantitative data - Stain vs dye in microbiology - John lennon bullet wounds - Ohm's law lab report sample - Introduction to Data Communication and Networking - Picot question for short staffing - Sanyo ductless heat pump - Debut emcee script introduction - Quantitative and qualitative paradigms - Policy analysis paper template - Do you like me - A beautiful mind storyline - Quality management plan for a wedding - Types of exogenous processes - Fraser foods case study answers - Five dimensions of employee empowerment