Mcn. 12/4 Wb. M Question 1 C Wh ms neducation.com/ext/map/ndex himl con consecara browse Celacuran 1)....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Mcn. 12/4 Wb. M Question 1 C Wh ms neducation.com/ext/map/ndex himl" con consecara browse Celacuran 1). 2) 3) 4) 5) 6) 7) 8) 9) 10) 12) Requirement 7 General Journal Delta Math St General Ledger C % 5 Trial Balance New Tab Saved Prev 6 On November 6, Trayton Eli withdrew $100,000 from personal savings and deposited it in a new business checking account for Eli's Consulting Services. On November 7, Eli's Consulting Services issued Check 1001 for $5,000 to purchase a computer and other equipment. On November 10, Eli's Consulting Services purchased office equipment on account from Office Plus for $6,000. (Invoice 2223 due in 60 days). On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Eli's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003. On November 30, Eli's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January. During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007. During December, the owner withdrew $5,000 for personal expense, Check 1008. Income Statement 1 of 3 Op & 7 * Th Stmt of Owners Eqty Inbox (2,714) 1024%253%252F%252Fremotect mehedocation.com 75% of available points Prepare the journal entry below for each of the transactions, entering the debits before the credits. To save your work, click on "Record Entry". 8 M Balance Sheet Next > (no subject; i * + 9 Help Accounting Equation Save & Exit Check my Show less D Men 12:4 F ms i 8) 9) ...... 10) 11) 12) M Question 1 CH > www Requirement education.com/ext/map/index.html?_con-con&external browser-0&launchUrl=https%253A%252F%252Fnewco General Duning December, performed services for $30,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007, During December, the owner withdrew $5,000 for personal expense, Check 1008. General ledger C DeltaMath St $ D Trial Balance 96 X New Tal 5 Income Statement Prev 6 General Journal 75% of available points - General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. No input required-General Ledger Tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. No input required - Trial Balance Tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. mung No input required -Income Statement, Statement of Owner's Equity, Balance Sheet Tabs - General ledger software also automates the preparation of financial statements. In a manual system, financial statements are only prepared at the end of the accounting period. In an automated system, the financial statements are updated after each transaction. 25% of available points - Accounting Equation Tab - It is important to be able to identify the impact each transaction has on the fundamental accounting equation. For each transaction, indicate the impact the item has on the accounting equation. 1 of 3 Stmt of Owners Eqty hp Inbox (2,714) https%253A%252F%252Fnewconnect.mheducation.com% & 7 Balance Sheet 8 Next > the subject! - it X Accounting Equation Help Save & Show less A 9 CI roblems i KILL at Mon 12:4 WB X COXLU 2 zto.mheducation.com/ext/map/indexhtml? con con&external browser=0&launchUrl=https%253A %252F%252Fnewconnect.mheducation.com% 7) 8) 9) 10) 11) 12) M Question 1 CH * Delta Math Sty Requirement General Journal C January. During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007. During December, the owner withdrew $5,000 for personal expense, Check 1008. $ General Ledger 4 Trial Balance 96 & 7 Balance Sheet Dates: Nov 06 1 of 3 # Next > (no subject) X + 8 9 Show less A Accounting Equation Help to: Dec 31 Save & Exit S Check my v - Mer 12:40 oblems * M Question 1CH omheducation.com/ext/map/index.html?con con&external browser 0&launchil Requirement Total General Journal C General Ledger $ Delta Math St Trial Balance % 5 Account Title CH 4 Problems i 1 3.33 Skipped eBook Print Mon 12:4 M X M Question 1c ezto.mheducation.com/ext/map/ind html" con con&external browser-0&launchUrl https%253A%252F%252Fnewconnect.mheducation.com% leferences Revenues Fees income Expenses Salaries expense Utilities expense MEN Net income LUUTU C DeltaMath St * ELI'S CONSULTING SERVICES Income Statement For Month ended December 31, 2021 12 5 EL No input required An income statement reports the changes in equity attributable to the operation of the business during a specific time period. The income statement reports revenues and expenses in the calculation of net income or net loss. Net income or loss from the income statement is transferred to the statement of owner's equity. Trial Balance JC Prev Par Mc Mhere 10 0 Saved U 0 0 0 0 New Tab M DE PROGREMELTE Stmt of Owners Enty. S 1 of 3 hp ----* -T 1 & 7 1-30% (2,714) Next > 8 Mine sub ect; it x + L I Help Save & Exit 1 Check my 33 H 4 Problems Skipped eBook Men 12:4 X M Question 1 C ezta mheducation.com/ext/map/index.html? con con&external browser G&launchUrl=htps%253A%252F%252Fnewconnect mhe Print ferences Requirement General Journal General Ledger Delta Math Stoc Owner's initial investment Add: Net income Less: Withdrawals by owner Trayton Eli, Capital, December 31, 2021 ELI'S CONSULTING SERVICES Statement of Owner's Equity For Month ended December 31, 2021 Trial Balance 96 5 < Income Statement + Prev New Tal Income Statement 10 Saved 0 No input required There are four subsets of equity: Investments by owners, withdrawals by the owner, revenues and expenses. All four subsets are compiled in the Capital account at the end of the period. The ending capital balance is transferred to the equity section of the balance sheet. M 1 of 3 15 & Stmt of Owners Eqty 7 PREDSEDNE Poox (2714) % Balance Sheet Balance Sheet > Next > 8 Accounting Equation fno subject; mheducation.com% 9 Help Show less A + Save & Exit Check my CH 4 Problems i 1 33.33 points Skipped Mor 12:4 F References Graw ezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchurl=https%253A %252F%252Fnewcom M Question 1 X que | **** Cash Accounts receivable Supplies Prepaid rent Equipment Joumal Delta Mach S: XNew Tal Assets Ledger C 'U' ~U Statement Owners Eqty No Input required. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each account is reported separately on the balance sheet. Equity includes the ending capital account baland Withdrawals + Revenues - Expenses) ELI'S CONSULTING SERVICES Balance Sheet December 31, 2021 ** Mum + $ Saved Prev 0 0 0 0 0 0 0 0 0 0 1 of 3 hp ' :oox (27 4 M MUIL Next > SHUML O ..... X CH 4 Problems 33.33 points ezto.mheducation.com/ext/map/index.html? con-con&external browser -08launchUrl=https:%253A%252F%252Fnewconnect.mheducation Skipped Men 12:4 6 x M Question 1 CH X W Xt References Graw On November 6, Trayton Eli withdrew $100,000 from personal savings and deposited it in a new business checking account for Eli's Consulting Services. Delta Math Stu On November 7, Eli's Consulting Services issued Check 1001 for $5,000 to purchase a computer and other equipment. On November 10, Ell's Consulting Services purchased office equipment on account for $6,000. On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Eli's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003. On November 30, Eli's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January During December, performed services for $36,000 in # 3 $ % * New Tal 5 Saved Total Assets = Prev Balance Sheet Total Liabilities 1 of 3 hp X ~ 100% (2.714) X S & 7 + Total Equity Next > Mino subject: 8 Help Sav CH 4 Problems 1 ezto.mheducation.com/ext/map/Index.html?.con con&external brow 33.33 points Skipped Mun 12/4 V Xfor References Mc Graw Hill 2 Equipment. M Question 10 On November 10, Ell's Consulting Services purchased office equipment on account for $6,000. DeltaMath St On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Ell's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003 On November 30, Ell's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. 3 During December, paid $8,000 for salaries. During December, paid $650 for a utility bill. During December, the owner withdrew $5,000 for personal expenses. Totals - Should agree with Balance Sheet C 4 % 5 New Tal 08launchi Prev Saved LA 5 https%253A %252F%252Fnewconnect.mheducation.com%. 1 of 3 D hp W & 7 Inbox (2,714) 40 Next > (no subject! 9 Help X Save Mcn. 12/4 Wb. M Question 1 C Wh ms neducation.com/ext/map/ndex himl" con consecara browse Celacuran 1). 2) 3) 4) 5) 6) 7) 8) 9) 10) 12) Requirement 7 General Journal Delta Math St General Ledger C % 5 Trial Balance New Tab Saved Prev 6 On November 6, Trayton Eli withdrew $100,000 from personal savings and deposited it in a new business checking account for Eli's Consulting Services. On November 7, Eli's Consulting Services issued Check 1001 for $5,000 to purchase a computer and other equipment. On November 10, Eli's Consulting Services purchased office equipment on account from Office Plus for $6,000. (Invoice 2223 due in 60 days). On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Eli's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003. On November 30, Eli's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January. During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007. During December, the owner withdrew $5,000 for personal expense, Check 1008. Income Statement 1 of 3 Op & 7 * Th Stmt of Owners Eqty Inbox (2,714) 1024%253%252F%252Fremotect mehedocation.com 75% of available points Prepare the journal entry below for each of the transactions, entering the debits before the credits. To save your work, click on "Record Entry". 8 M Balance Sheet Next > (no subject; i * + 9 Help Accounting Equation Save & Exit Check my Show less D Men 12:4 F ms i 8) 9) ...... 10) 11) 12) M Question 1 CH > www Requirement education.com/ext/map/index.html?_con-con&external browser-0&launchUrl=https%253A%252F%252Fnewco General Duning December, performed services for $30,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007, During December, the owner withdrew $5,000 for personal expense, Check 1008. General ledger C DeltaMath St $ D Trial Balance 96 X New Tal 5 Income Statement Prev 6 General Journal 75% of available points - General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. No input required-General Ledger Tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. No input required - Trial Balance Tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. mung No input required -Income Statement, Statement of Owner's Equity, Balance Sheet Tabs - General ledger software also automates the preparation of financial statements. In a manual system, financial statements are only prepared at the end of the accounting period. In an automated system, the financial statements are updated after each transaction. 25% of available points - Accounting Equation Tab - It is important to be able to identify the impact each transaction has on the fundamental accounting equation. For each transaction, indicate the impact the item has on the accounting equation. 1 of 3 Stmt of Owners Eqty hp Inbox (2,714) https%253A%252F%252Fnewconnect.mheducation.com% & 7 Balance Sheet 8 Next > the subject! - it X Accounting Equation Help Save & Show less A 9 CI roblems i KILL at Mon 12:4 WB X COXLU 2 zto.mheducation.com/ext/map/indexhtml? con con&external browser=0&launchUrl=https%253A %252F%252Fnewconnect.mheducation.com% 7) 8) 9) 10) 11) 12) M Question 1 CH * Delta Math Sty Requirement General Journal C January. During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007. During December, the owner withdrew $5,000 for personal expense, Check 1008. $ General Ledger 4 Trial Balance 96 & 7 Balance Sheet Dates: Nov 06 1 of 3 # Next > (no subject) X + 8 9 Show less A Accounting Equation Help to: Dec 31 Save & Exit S Check my v - Mer 12:40 oblems * M Question 1CH omheducation.com/ext/map/index.html?con con&external browser 0&launchil Requirement Total General Journal C General Ledger $ Delta Math St Trial Balance % 5 Account Title CH 4 Problems i 1 3.33 Skipped eBook Print Mon 12:4 M X M Question 1c ezto.mheducation.com/ext/map/ind html" con con&external browser-0&launchUrl https%253A%252F%252Fnewconnect.mheducation.com% leferences Revenues Fees income Expenses Salaries expense Utilities expense MEN Net income LUUTU C DeltaMath St * ELI'S CONSULTING SERVICES Income Statement For Month ended December 31, 2021 12 5 EL No input required An income statement reports the changes in equity attributable to the operation of the business during a specific time period. The income statement reports revenues and expenses in the calculation of net income or net loss. Net income or loss from the income statement is transferred to the statement of owner's equity. Trial Balance JC Prev Par Mc Mhere 10 0 Saved U 0 0 0 0 New Tab M DE PROGREMELTE Stmt of Owners Enty. S 1 of 3 hp ----* -T 1 & 7 1-30% (2,714) Next > 8 Mine sub ect; it x + L I Help Save & Exit 1 Check my 33 H 4 Problems Skipped eBook Men 12:4 X M Question 1 C ezta mheducation.com/ext/map/index.html? con con&external browser G&launchUrl=htps%253A%252F%252Fnewconnect mhe Print ferences Requirement General Journal General Ledger Delta Math Stoc Owner's initial investment Add: Net income Less: Withdrawals by owner Trayton Eli, Capital, December 31, 2021 ELI'S CONSULTING SERVICES Statement of Owner's Equity For Month ended December 31, 2021 Trial Balance 96 5 < Income Statement + Prev New Tal Income Statement 10 Saved 0 No input required There are four subsets of equity: Investments by owners, withdrawals by the owner, revenues and expenses. All four subsets are compiled in the Capital account at the end of the period. The ending capital balance is transferred to the equity section of the balance sheet. M 1 of 3 15 & Stmt of Owners Eqty 7 PREDSEDNE Poox (2714) % Balance Sheet Balance Sheet > Next > 8 Accounting Equation fno subject; mheducation.com% 9 Help Show less A + Save & Exit Check my CH 4 Problems i 1 33.33 points Skipped Mor 12:4 F References Graw ezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchurl=https%253A %252F%252Fnewcom M Question 1 X que | **** Cash Accounts receivable Supplies Prepaid rent Equipment Joumal Delta Mach S: XNew Tal Assets Ledger C 'U' ~U Statement Owners Eqty No Input required. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each account is reported separately on the balance sheet. Equity includes the ending capital account baland Withdrawals + Revenues - Expenses) ELI'S CONSULTING SERVICES Balance Sheet December 31, 2021 ** Mum + $ Saved Prev 0 0 0 0 0 0 0 0 0 0 1 of 3 hp ' :oox (27 4 M MUIL Next > SHUML O ..... X CH 4 Problems 33.33 points ezto.mheducation.com/ext/map/index.html? con-con&external browser -08launchUrl=https:%253A%252F%252Fnewconnect.mheducation Skipped Men 12:4 6 x M Question 1 CH X W Xt References Graw On November 6, Trayton Eli withdrew $100,000 from personal savings and deposited it in a new business checking account for Eli's Consulting Services. Delta Math Stu On November 7, Eli's Consulting Services issued Check 1001 for $5,000 to purchase a computer and other equipment. On November 10, Ell's Consulting Services purchased office equipment on account for $6,000. On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Eli's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003. On November 30, Eli's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January During December, performed services for $36,000 in # 3 $ % * New Tal 5 Saved Total Assets = Prev Balance Sheet Total Liabilities 1 of 3 hp X ~ 100% (2.714) X S & 7 + Total Equity Next > Mino subject: 8 Help Sav CH 4 Problems 1 ezto.mheducation.com/ext/map/Index.html?.con con&external brow 33.33 points Skipped Mun 12/4 V Xfor References Mc Graw Hill 2 Equipment. M Question 10 On November 10, Ell's Consulting Services purchased office equipment on account for $6,000. DeltaMath St On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Ell's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003 On November 30, Ell's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. 3 During December, paid $8,000 for salaries. During December, paid $650 for a utility bill. During December, the owner withdrew $5,000 for personal expenses. Totals - Should agree with Balance Sheet C 4 % 5 New Tal 08launchi Prev Saved LA 5 https%253A %252F%252Fnewconnect.mheducation.com%. 1 of 3 D hp W & 7 Inbox (2,714) 40 Next > (no subject! 9 Help X Save
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The An invoice for Pepito, Lando, and Benito is received from WACO COMPANY. Invoice totals are: Pepito, P11,250; Lando, P13,500; and Benito, P15,750. freight charges on this shipment of 1,800 pounds...
-
In analyzing Section 21 of the Sale of Goods Act, in the case of Bishop Gates Motor Finance Corporation v. Transport Breaks Ltd., Lord Denning M.R, stated thus: in the development of our laws, two...
-
Evaluate the capillary number for water at 2 0 \\ deg C and a velocity of 4 . 7 cm / s . For water at 2 0 \\ you C , \\ in = 0 . 0 0 1 kg / m - s and = 0 . 0 7 2 8 N / m .
-
Find the inverse of each of the given matrices by the method of Example 1 of this section. Data from Example 1 Find the inverse of the matrix First, we interchange the elements on the principal...
-
Solve Problem using augmented matrix methods. Graph each solution set. Discuss the difference between the graph of an equation in the system and the graph of the system's solution set x1 - 2x2 = 5...
-
Give an example of a studyreal or hypotheticalin the behavioral sciences for which the researchers could use each type of graph. State the independent variable(s) and dependent variable, including...
-
Audit Planning and Preparation. You are advised of a new assignment as in-charge accountant of your Wirtschaftspriifer firm's recurring annual audit of a major client, the Lied Lieferung, GmbH. You...
-
Call Systems Company, a telephone service and supply company, has just completed its fourth year of operations. The direct write-off method of recording bad debt expense has been used during the...
-
Education. Renewal > Kent Calculus Assignments > Section 1.3 Homework 23/HPMA Section 1.3 Homework Home Due May 7 by 11:59pm Points 21 Submitting an external tool Announcements Syllabus Section 1.3...
-
Oasis Co., a U.S. shareholder, owns 100% of Shack Co. and 100% of Studio Co., both CFCs. Shack Co. has $300,000 of gross income, of which $50,000 is effectively connected income, and $30,000 is...
-
You Are A Student And Have An On-Site Job Interview With Company A. Just Before You Fly To The Interview, You Get A Call From Company B Asking You To Come For An On-Site Interview At Their Offices In...
-
what are the process and the procedures of Eviction in California's Real estate laws? Post your opinion if you think the Eviction Procedure is fair or not fair. Give specific reasons for your opinion.
-
How do ecological niches and competitive interactions shape species distributions and contribute to the process of ecological speciation, including the role of divergent selection in driving niche...
-
How the primary goal of stock pricemaximization may be incompatible and or conflicting with issues related to social responsibility of corporations?
-
Bravo Company had a beginning Accounts Receivable account balance of $380. During the period Bravo' sold goods on account for $1,400. Ending Accounts Receivable had a $630 balance. How much was...
-
Taking into consideration the characteristics of the hiking footwear industry, identify and analyse the type of market structure. Comment on the efficiency and profitability of firms operating in...
-
Donna makes the following transfers in 2022: $250,000 to Greg, her spouse, who is US Citizen 20,000 to Elena, her daughter 50,000 to Harvard University for Tuition for Elena 25,000 to Yale for Cancer...
-
TRUE-FALSE QUESTIONS 1. In terms of preliminary analytical procedures, assume that the company has introduced a new product with a low price point and significant customer demand. The auditor would...
-
Goodman and Kruskal (1954) proposed an association measure (tau) for nominal variables based on variation measure a. Show V(Y) is the probability that two independent observations on Y fall in...
-
Analyze Table 8.3 using a latent class model with q = 2. a. For a subject in the first latent class, estimate the probability of having used (i) marijuana, (ii) alcohol, (iii) cigarettes, (iv) all...
-
Table 10.19 displays multiple sclerosis diagnoses for two neurologists who classified patients in two sites, Winnipeg and New Orleans. The diagnostic classes are (1) certain; (2) probable; (3)...
-
Hart Products, Inc., sold 120,000 cases of glue at $20 per case during 20x7. Its beginning inventory consisted of 20,000 cases at a cost of $12 per case. During 20x7, it purchased 60,000 cases at $14...
-
During July 20x7, Fan-Qi, Inc., sold 500 units of its product Ultima for $8,000. The following units were available: A sale of 500 units was made after purchase 3. Of the units sold, 200 came from...
-
The Midori Cabinet Company sold 2,200 cabinets during 20x7 at $160 per cabinet. Its beginning inventory on January 1 was 130 cabinets at $56. Purchases made during the year were as follows: The...
Study smarter with the SolutionInn App