ACC 290 Week 4 Apply: Connect Assignment
ACC 290 Week 4 Apply: Connect Assignment
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ACC 290 Week 4 Apply: Connect Assignment
https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM
ACC 290 Week 4 Apply: Connect Assignment
Complete the Week 4 Assignment in Connect.
Note: You have only 1 attempt available to complete assignments
1
Paula Judge owns Judge Creative Designs. The trial balance of the firm for January 31, 2019, the first month of operations, is shown below. End-of-the-month adjustments must account for the following items:
- Supplies were purchased on January 1, 2019; inventory of supplies on January 31, 2019, is $1,500.
- The prepaid advertising contract was signed on January 1, 2019, and covers a four-month period.
- Rent of $2,000 expired during the month.
- Depreciation is computed using the straight-line method. The equipment has an estimated useful life of 10 years with no salvage value.
Required:
- Complete the worksheet for the month.
- Prepare an income statement, statement of owner’s equity, and balance sheet. No additional investments were made by the owner during the month.
- Journalize and post the adjusting entries.
Analyze If the adjusting entries had not been made for the month, would net income be overstated or understated?
ACC 290 Week 4 Apply: Connect Assignment
https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM
ACC 290 Week 4 Apply: Connect Assignment
Complete the Week 4 Assignment in Connect.
Note: You have only 1 attempt available to comple