1 / 3

Devry ACCT 504 Week 3 Case Study Latest

Just Click on Below Link To Download This Course:<br>https://www.devrycourses.com/product/devry-acct-504-week-3-case-study-latest/<br>Devry ACCT 504 Week 3 Case Study Latest<br>Case Study 1 (Part A)<br>(Learning Objectives 4, 5, 6: Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions:

devrycourses
Download Presentation

Devry ACCT 504 Week 3 Case Study Latest

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Devry ACCT 504 Week 3 Case Study Latest Just Click on Below Link To Download This Course: https://www.devrycourses.com/product/devry-acct-504-week-3-case-study-latest/ Or Email us help@devrycourses.com Devry ACCT 504 Week 3 Case Study Latest Case Study 1 (Part A) (Learning Objectives 4, 5, 6: Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions: June 2 Gordon received $55,000 cash and issued common stock to the stockholders. 3 Purchased supplies, $3,000, and equipment, $5,200, on account. 4 Performed services for a client and received cash, $6,300. 7 Paid cash to acquire land, $37,000. 11 Performed services for a customer and billed the customer, $1,200. Johnson expects to collect within one month. 16 Paid partial for the equipment purchased June 3 on account $2,800.

  2. 17 Paid the telephone bill, $230. 18 Received partial payment from customer on account, $700. 22 Paid the water and electricity bills, $400. 29 Received $5,000 cash for repairing the pipes of a customer. 30 Paid employee salary, $4,300. 30 Declared and paid dividends of $3,000. ?Requirements 1.1.Record each transaction in the journal.Key each transaction by date. Explanations are not required. 2.2.Post the transactions to the T-accounts, using transaction dates as posting references. 3.3.Prepare the trial balance of Gordon Construction, Inc., at June30, 20xx. 4.4.The manager asks you how much in total resources the business has to work with and, how much it owes. Case Study 1 (Part B) Requirement 1 (Learning Objectives 3, 4: Adjust the accounts; construct the financial statements) Record the following month end adjusting entries for Gordon Construction, Inc. at June 30, 20xx Month end accruals at June 30, 20xx: 100. a.Accrued advertising revenue at June 30, $3,100. 101. b.Supplies used during June, $2,300.

  3. 102. c.Accrued salary expense at June 30 for Monday, Tuesday, and Wednesday.The five-day weekly payroll is $6,100 and will be paid on Friday. Requirement 2 Prepare adjusted trial balance for Gordon Construction at June 30, 20xx. Download File Now

More Related