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This project will give you an opportunity to apply your knowledge of accounting principles and procedures by handling all the accounting work of Eli's Consulting
This project will give you an opportunity to apply your knowledge of accounting principles and procedures by handling all the accounting work of Eli's Consulting Services for the month of January
Assume that you are the chief accountant for Eli's Gonsulting Services. During January, the business will use the same types of records and procedures that you learned about in Chapters ?through ?The chart of accounts for Eli's Consulting Services has been expanded to include a few new accounts. Follow the instructions on the Requirements tab to complete the accounting records for the month of January.
DATE TRANSACTIONS
January ?Purchased supplies for $e; issued Check
January ?Purchased a oneyear insurance policy for $
January ?Sold, services for $ ?in cash and $ ?on credit during the first week of January.
January ?Collected a total of $ ?on account from credit customers during the first week of January.
January ?Issued Check ?for $ ?to pay for special promotional advertising to new businesses on the local radio station during the month.
January ?Collected a total of $ ?eee on account from credit customers during the second week of January.
January ?Returned supplies that were daraged for a cash refund of $
January ?Sold services for $ ?in cash and $ ?on credit during the second week of January.
January ?Purchased supplies for $ee from White's, Incorporated; received Involce ?payable in ?days.
January ?Sold services for $ ?in cash and $ ?on credit during the thind week of January.
January ?collected a total of $ ?on account from credit customers during the third week of January.
January ?Issued Check ?for $ ?to pay for maintenance work on the office equiprent.
January ?Issued Check ?for $ ?to pay for special promotional advertising to new businesses in the cal newspaper.
January ?Received the monthly telephone bill for $ ?and paid it with check
January ?Collected a total of $ ?on account from credit customers during the fourth week of January.
January ?Issued Check ?for $ ?eag to office plus as payment on account for Involce
January ?Sent Check ?for $ ?in payment of the monthly bill for utilities.
January ?Sold services for $ ?in cash and $ ?on credit during the fourth week of January.
January ?Issued checks ?for $e ?to pay the monthly salaries of the regular employces and three parttime workers.
January ?Issued Check ?for $ee for personal use.
January ?Issued Check ?for $ ?to pay for maintenance services for the month.
January ?Purchased additional equipment for $eeg from Contemporary Equipment Company; issued Check ?for $ ?eee and bought the rest on credit. The equipment has a fiveyear life and no salvage value.
January ?Sold services for $ ?in cash and $ ?on credit on January ?ADJUSTMENTS
January ?Compute and record the adjustment for supplies used during the month. An inventory taken on January ?showed supplies of $ ?on hand.
January ?Collected a total of $ ?on account froe credit customers during the fourth week of January.
January ?Issued Check ?for $ ?to office Plus as payment on account for Imoice
January ?Sent Check ?for $ ?in paysent of the monthly b ?for utiities.
January ?Sold services for $ ?in cash and $ ?on credit during the fourth week of January.
Jandary ?Issued Checks ?for $ ?to pay the monthly salarles of the regular employees and three parttime workers.
January ?Issu
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