ACC 290 Week 3 Practice: Connect Practice Assignment | eBooks | Education

ACC 290 Week 3 Practice: Connect Practice Assignment

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ACC 290 Week 3 Practice: Connect Practice Assignment 

https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM

 

ACC 290 Week 3 Practice: Connect Practice Assignment

 

Complete the Week3 Practice in Connect.

Note: You have unlimited attempts available to complete practice assignments

 

1

 

On October 1, 2019, Helen Kennedy opened an advertising agency.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DATE TRANSACTIONS
Oct. 1 Helen Kennedy invested $70,000 cash in the business.
2 Paid October office rent of $4,000; issued Check 1001.
5 Purchased desks and other office furniture for $18,000 from Office Furniture Mart, Inc.; received Invoice 6704 payable in 60 days.
6 Issued Check 1002 for $4,100 to purchase art equipment.
7 Purchased supplies for $1,670; paid with Check 1003.
10 Issued Check 1004 for $800 for office cleaning service.
12 Performed services for $4,200 in cash and $1,800 on credit. (Use a compound entry.)
15 Returned damaged supplies for a cash refund of $300.
18 Purchased a computer for $3,000 from Office Furniture Mart, Inc., Invoice 7108; issued Check 1005 for a $1,750 down payment, with the balance payable in 30 days. (Use one compound entry.)
20 Issued Check 1006 for $9,500 to Office Furniture Mart, Inc., as payment on account for Invoice 6704.
26 Performed services for $4,800 on credit.
27 Paid $375 for monthly telephone bill; issued Check 1007.
30 Received $4,200 in cash from credit customers.
30 Mailed Check 1008 to pay the monthly utility bill of $1,080.
30 Issued Checks 1009–1011 for $9,000 for salaries.

 

Required:

 

 

 

    1. Journalize the above transactions.

 

 

    1. Post the above transactions to the ledger accounts.

 

 

 

 

Analyze:

What is the balance of account 202 in the general ledger?

 

 

ACC 290 Week 3 Practice: Connect Practice Assignment https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM ACC 290 Week 3 Practice: Connect Practice Assignment Complete the Week3 Practice in Connect. Note: You have unlimited
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