ACC 290 Week 2 WileyPLUS Assignment Week Two

ACC 290 Week 2 WileyPLUS Assignment Week Two
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  In this file ACC 290 Week 2 WileyPLUS Assignment Week Two you can find right answers on the following tasks: 1. Determine how much stockholders' equity increased for the month. 2. Post the transactions to T-accounts and complete the following trial balance. 3. Journalize the transactions. 4. Complete the following trial balance. (Hint: Post the above transactions to the ledger T-accounts and use the balances to complete the trial balance.) 5. Post to ledger accounts and then complete the following trial balance.
Business - Accounting
 E3-4

 A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained

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 E3-9

 This information relates to Pickert Real Estate Agency.

 Oct. 1 Stockholders invested $30,000 in exchange for common stock of the corporation

 Oct. 2 Hires an administrative assistant at an annual salary of $42,000

 Oct. 3 Buys office furniture for $4,600, on account

 Oct. 6 Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid by Petty at this time)

 Oct. 10 Receives cash of $140 as commission for acting as rental agent renting an apartment

 Oct. 27 Pays $700 on account for the office furniture purchased on October 3

 Oct. 30 Pays the administrative assistant $3,500 in salary for October

 Post the transactions to T-accounts and complete the following trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)

 P3-5A


 Sunflower Architects incorporated as licensed architects on April 1, 2010. During the first month of the operation of the business, these events and transactions occurred:

 Apr. 1 Stockholders invested $15,000 cash in exchange for common stock of the corporation.

 1 Hired a secretary-receptionist at a salary of $375 per week, payable monthly.

 2 Paid office rent for the month $900.

 3 Purchased architectural supplies on account from Spring Green Company $1,000.

 10 Completed blueprints on a carport and billed client $1,500 for services.

 11 Received $500 cash advance from J. Madison to design a new home.

 20 Received $2,300 cash for services completed and delivered to M. Svetlana.

 30 Paid secretary-receptionist for the month $1,500.

 30 Paid $300 to Spring Green Company for accounts payable due.

 The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Revenue, Common Stock, Service Revenue, Salaries Expense, and Rent Expense. Hint: Journalize transactions, post, and prepare a trial balance. (SO 3, 5, 6, 7, 8) Instructions (a) Journalize the transactions, including explanations. (b) Post to the ledger T accounts. (c) Prepare a trial balance on April 30, 2010. Cash $15,100 Tot. trial balance $20,000

 P3-6A This is the trial balance of Slocombe Company on September 30

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