Transaction Journal, Ledger Accounts, and Trial Balance (Math Problem Sample)
Requirements:
a) Journalize the March transactions.
b) Prepare necessary Ledger Accounts.
c) Prepare a Trial Balance at March 31.
d) Journalize the following adjustments and prepare an adjusted Trial Balance:
(i) Earned but unbilled revenue at March 31 was $500.
(ii) Depreciation on equipment for the month was $200.
(iii) One-twelfth of the insurance expired.
(iv) An inventory count shows $400 of cleaning supplies on hand at March 31.
(v) Accrued but unpaid employee salaries were $700.
e) Prepare the Income Statement and Owner’s Equity Statement for March and a classified Financial Position at March 31.
f) Journalize Closing Entries
Question
Mr. Arish opened Arish’s Carpet Cleaners on March 1, 2021. During March, the followingtransactions were completed.Mar. 1: Invested $15,000 cash in the business.Mar. 1: Purchased used Lorry for $6,000, paying $3,000 cash and the balance onaccount.
Other Topics:
- Preparation of Financial Statements: JC Penny Historical Statements Description: Using JC Penny historical statements ,we shall prepare the P&L statement projected for 5 years i.e. 2020,2021,2022,2023 and 2024. We shall focus on the trend of revenue and costs using historical financial data from 2019 annual report i.e. https://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_ ...1 page/≈275 words| No Sources | Other | Accounting, Finance, SPSS | Math Problem |
- Do Athletes Perform Poorly during the Semester Using the GAP Data?Description: a) Factor that would be taken up by time effect include; term, SAT score, and term GAP. While those that could be taken by individual effect include; total hours prior to term, colour, and gender. b) Using the pooled OLS as shown below, the season variable is not statistically significant.Therefore it does...8 pages/≈2200 words| No Sources | Other | Accounting, Finance, SPSS | Math Problem |
- Cost of Capital and Working Capital Management: Case of CMS CompanyDescription: Firms have widely made use of capital structure to ensure they are able to strike a balance between equity and debt financing. Firms that are in the high risky industries, have opted to use more of debt finance rather than equity financing (Peter et.al 2011). Research has shown that most firm fearing for ...14 pages/≈3850 words| No Sources | Other | Accounting, Finance, SPSS | Math Problem |
