ACC 100 Exercises.2

ACC 100 Exercises.2

Click Link Below To Buy:

http://hwcampus.com/shop/acc-100-exercises-2/

Contact Us:

Hwcoursehelp@gmail.com

Brief Exercise 2-1

For each of the following accounts, indicate the effects of a debit and a credit on the accounts and the normal balance of the account.

Brief Exercise 2-3

Transactions for the George Lynch Company for the month of June are presented below.

June 1		George Lynch invests $5,000 cash in a small welding business of which he is the sole proprietor.
2		Purchases equipment on account for $2,100.
3		$800 cash is paid to landlord for June rent.
12		Sends a bill to M. Rodero for $300 for welding work performed on account.

 Brief Exercise 2-10

An inexperienced bookkeeper prepared the following trial balance.

Brief Exercise 2-7

Kahl Enterprises had the following selected transactions

2.8

Janet Miyoshi has prepared the following list of statements about the general ledger.

Identify each statement as true or false.

Exercise 2-10 (Part Level Submission)

The T-accounts below summarize the ledger of Zimmer Landscaping Company at the end of the first month of operations.

WEEk#2

Brief Exercise 3-2

Moteki Company accumulates the following adjustment data at December 31.

Indicate the type of adjustment (prepaid expenses, accrued revenues and so on), and the status of accounts before adjustment (overstated or understated).

Brief Exercise 3-7

The bookkeeper for Bradbury Company asks you to prepare the following accrued adjusting entries at December

Brief Exercise 3-8

The trial balance of Yewlett Company includes the following balance sheet accounts, which may require adjustment. For each account that requires adjustment, indicate the type of adjusting entry (prepaid expenses, unearned revenues, accrued revenues, and accrued expenses) and the related account in the adjusting entry.

Brief Exercise 3-9

The adjusted trial balance of Parsons Company at December 31, 2014, includes the following accounts: Owner's Capital $15,600, Owner's Drawings $7,000, Service Revenue $37,000, Salaries and Wages Expense $16,000, Insurance Expense $2,000, Rent Expense $4,000, Supplies Expense $1,500, and Depreciation Expense $1,300.

Prepare an income statement for the year.

Exercise 3-3

Primo Industries collected $105,000 from customers in 2014. Of the amount collected, $25,000 was from services performed in 2013. In addition, Primo performed services worth $40,000  in 2014, which will not be collected until 2015.

Exercise 3-6

Lei Company accumulates the following adjustment data at December 31.

Exercise 3-13

The trial balances before and after adjustment for Frinzi Company at the end of its fiscal year are presented below.

Brief Exercise 4-5

The ledger of Rios Company contains the following balances: Owner’s Capital $30,000; Owner’s Drawings $2,000; Service Revenue $50,000; Salaries and Wages Expense $27,000; and Supplies Expense $7,000.