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ACC 290 Week 4 Apply Connect Assignment (100% Correct) (With Excel File)

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This Tutorial contains an Excel File which can be used for any values ACC 290 Week 4 Apply Connect Assignment Note: You have only 1 attempt available to complete assignments There are 2 Questions in this Tutorial (details given below, our excel sheet can be used for any values)

Question 1 The trial balance of Neal Company as of January 31, 2019, after the company completed the first month of operations, is shown in the partial worksheet below. Required:


2. Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $7,000; expired insurance, $6,900; depreciation expense for the period, $3,000.

Analyze: How does the insurance adjustment affect Prepaid Insurance?

Question 2 The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. Required: Prepare an income statement. Prepare a statement of owner’s equity. The owner made no additional investments during the month. Prepare a balance sheet. Analyze: If the adjustment to Prepaid Advertising had been $6,800 instead of $3,400, what net income would have resulted?

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ACC 290 Week 5 Apply Connect Assignment (100% Correct) (with Excel File)


For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com

This Tutorial contains an Excel File which can be used for any values ACC 290 Week 5 Apply Connect Assignment Note: You have only 1 attempt available to complete assignments There are 3 Questions in this Tutorial (details given below, our excel sheet can be used for any values)

1 On December 31, after adjustments, Gonzalez Company’s ledger contains the following account balances:

101 Cash $ 30,200 Dr. 111 Accounts Receivable 16,100 Dr. 121 Supplies 2,300 Dr. 131 Prepaid Rent 38,900 Dr. 141 Equipment 47,000 Dr. 142 Accumulated Depreciation—Equip. 1,150 Cr. 202 Accounts Payable 6,800 Cr.


301 Emilio Gonzalez, Capital (12/1/2019) 48,620 Cr. 302 Emilio Gonzalez, Drawing 6,500 Dr. 401 Fees Income 120,080 Cr. 511 Advertising Expense 4,100 Dr. 514 Depreciation Expense—Equip. 830 Dr. 517 Rent Expense 2,900 Dr. 519 Salaries Expense 21,800 Dr. 523 Utilities Expense 6,020 Dr. Required: Journalize the closing entries in the general journal. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted?

2 A partially completed worksheet for At Home Pet Grooming Service, a firm that grooms pets at the owner’s home, follows. Required: Complete the worksheet. Record the adjusting entries in the general journal (transactions 1-3). Record the closing entries in the general journal (transactions 4-7). Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Prepare a post-closing trial balance. Analyze:


What total debits were posted to the general ledger to complete all closing entries for the month of December?

3. A completed worksheet for The King Group is given below. The King Group Worksheet Month Ended December 31, 2019 Required: Record the adjusting entries in the general journal (transactions 1-3). Record the closing entries in the general journal (transactions 4-7). Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Prepare a post-closing trial balance. Analyze: How many accounts are listed in the adjusted and post-closing trial balance section?

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ACC 290 A Guide to career / newtonhelp.com  

For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com This Tutorial contains an Excel File which can be used fo...

ACC 290 A Guide to career / newtonhelp.com  

For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com This Tutorial contains an Excel File which can be used fo...

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