A02E Assignment 08 Principles of Accounting I | Documents and Forms | Research Papers

A02E Assignment 08 Principles of Accounting I

A02E Assignment 08 Principles of Accounting I PLDZ-3629
In Stock
$ 11.00 USD
Bright Solutions
Buy and Download   > Description

ASSIGNMENT 08          xlsl

A02E Assignment 08 Principles of Accounting I

Directions:  Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements.

Part A (30 points)

Prepare general journal entries to record the following transactions for the Harris Company. (The company uses the balance sheet approach for recording bad debts expense.)

2010

2011

Part B (10 points each for a possible total of 40 points)

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement that the account in which the account balance is reported, and in Column 4 the account's nature (temporary/permanent).

(1)

 

Column 1

Column 2

Column 3

Column 4

Interest payable

 

 

 

 

 

 

(2)

 

Column 1

Column 2

Column 3

Column 4

Interest receivable

 

 

 

 

(3)

 

Column 1

Column 2

Column 3

Column 4

Discount on notes payable

 

 

 

 

(4)

 

Column 1

Column 2

Column 3

Column 4

Store equipment

 

 

 

 

 Part C (15 points each for a possible total of 30 points)

(1)    A computer server system, which had cost $210,000 and had accumulated depreciation of $147,000, was traded for a new system with a fair market value of $235,000. The old system and cash of $180,000 were given for the new system. Prepare the journal entry for the exchange of these similar assets.

(2)    Prepare journal entries for the following for Bartz, Inc.

May 11 replaced the engine in a Van #1, paying cash of $5,400.

May 18 Paid cash for a tune-up of the engine in Van #2 of $570.

May 29 Paid cash to add a lift to Van #2 of $3,700

 

ASSIGNMENT 08 xlsl A02E Assignment 08 Principles of Accounting I Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, an
Recent Reviews Write a Review
0 0 0 0 reviews