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Not sure how to get started on this. Need help with Step One Part One. Use Appendix A to start journalizing. Purpose of this Assessment
Not sure how to get started on this. Need help with Step One Part One. Use Appendix A to start journalizing.
Purpose of this Assessment The Accousting Cycle 5 Tratiaction Analpis feut ariensment implves andyong and recording bynins transactions via journal entriet, posting these journal emaries te Tiaccouncs, prearing a trial bulinct, journaliaine and posting adfusting entries, and jreparing an adjused traal balanse in completing these tasks, you wil demenstrate an understanding of the atcouting cyult, accounting arocrss and aceral concept, double entry atcountine, and the importance of GMAP. items Required for Subrission The item required for submisson is a portholio (oglect Preparint an adjusted trial Balancel of accounting cyde steps detailed in the following seps. Step ONI: Andyae and Recort Dusiness Trancactions Use the infocmation provided in Appendix A (Trial Balunce for Purity inc and the lat of the tranuctoons that occurned during the month of lune) to complete the followine stegn. The diagame here are for litustration pursoses only; use the fucel template to actually recerd the entries. 1) Joumalize the transactions that occured in bune. Do not include explarations. Final Aastament Outine and Ratric 1 Accounting Cycle 8. Transaction Analysis Final Assessment: Ovtline and Rubric 2) Open the ledger actounts linsed in the trial balance stecether with their beginning bularces at May 31. Use the four-column acoount format as illustrated below. Enter "Far" for the Mop 31 balance in the item column. Poot the journal entries to the ledier, create trew lotger acrounts as necestary, and omit posting referencec. Calalate the new acsecut balunces at hane 3s, 2014. 3) Prepare the trial tabnce for Purty Wates, inc, at knese 30, 2014. Final Assessment utine and fubric Accounting Cycle 8 Transaction Analysis Final Assessment: Outline and Rubric During June the following transactions occurred: Jun 1 Paid receptionist's salary, \$550. 2 Paid cash to acquire land for a future otfice site, $17,000. Moved into a new location for the business and paid the first month's rent, $1,300. Performed service for a customer and received cash, $1,900. Reseived $400 on account. Purchased 5600 of supplies on acceunt. Billed custamers for senvices performed, 52,800. Sold an additional 510,000 of commen stock to Mel Hollingsarth. Paid receptionist's salary. 5590 . Received $1,400 cash for services performed. Received $900 from customers on account. Paid $325 to be listed in the Yellow Pages telephone directory. Paid $800 on account. Purchased oftice furniture on account, $3,600. Paid miscellaneous expenses, $250. Billed customers for services provided, 51,300. Received $1,600 from customers on account. Paid utitity bill, $690. Paid receptionist's salary. $550. Paid $3,100 of dividends Step by Step Solution
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