Paper: ?Milestone 2 spreadsheet corrected is the latest one. the feedback for that one said, ‘You are getting close, see my
Milestone 2 spreadsheet corrected is the latest one. the feedback for that one said, "You are getting close, see my comments on the adjusting tab." There is also an attached summary report.
e9bb3e4357c3ca3da951323c291cd72d8cb20c9b (2).xls
Income Statement Accounts
COMPREHENSIVE PROBLEM 1 | |||||||||||||
– The following ledger accounts appear below, in this order: | |||||||||||||
Fees Earned, Salary Expense, Rent Expense, Supplies Expense, Depreciation Expense, Insurance Expense, | |||||||||||||
Miscellaneous Expense | |||||||||||||
The entries in the ledgers will not grade or mark correct or incorrect. | |||||||||||||
LEDGERS – Income Statement accounts | |||||||||||||
Fees Earned | 41 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
Salary Expense | 51 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
Rent Expense | 52 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
Supplies Expense | 53 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
Depreciation Expense | 54 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
Insurance Expense | 55 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
Miscellaneous Expense | 59 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. |
Balance Sheet Accounts
COMPREHENSIVE PROBLEM 1 | |||||||||||||
– The following ledger accounts appear below, in this order: | |||||||||||||
Cash, Accounts Receivable, Supplies, Prepaid Rent, Prepaid Insurance, Office Equipment, Accumulated Depreciation, | |||||||||||||
Accounts Payable, Salaries Payable, Unearned Fees, Common Stock, Retained Earnings, Dividends | |||||||||||||
– Beginning balances from the textbook have already been entered. | |||||||||||||
The entries in the ledgers will not grade or mark correct or incorrect. | |||||||||||||
LEDGERS – Balance Sheet accounts | |||||||||||||
Cash | 11 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 22,100 | ||||||||||
Accounts Receivable | 12 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 3,400 | ||||||||||
Supplies | 14 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 1,350 | ||||||||||
Prepaid Rent | 15 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 3,200 | ||||||||||
Prepaid Insurance | 16 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 1,500 | ||||||||||
Office Equipment | 18 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 14,500 | ||||||||||
Accumulated Depreciation | 19 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 330 | ||||||||||
Accounts Payable | 21 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 800 | ||||||||||
Salaries Payable | 22 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 120 | ||||||||||
Unearned Fees | 23 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 2,500 | ||||||||||
Common Stock | 31 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 30,000 | ||||||||||
Retained Earnings | 32 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. | |||||||
5/1 | Balance | √ | 12,300 | ||||||||||
Dividends | 33 | ||||||||||||
Post | Balance | ||||||||||||
Date | Item | Ref. | Dr. | Cr. | Dr. | Cr. |
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7324ca4adb2569176bcb5b2d17349502a817f8ae (1).docx
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