Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question: ACC310 Management Accounting
Assuming the role of an accountant, your new client Suzie Maye needs help in setting up basic accounting practices for her business. You begin by showing her how to set up a transaction analysis based on the accounting equation of Assets = Liabilities + Owner's Assets. You show Suzie how to enter the various assets, liabilities and owner's assets into the transaction analysis template demonstrating the balance based on the equation. This will help Suzie understand that through this process every financial transaction that occurs in her business must be reconciled on each side of the equation.
Please record the following transactions using transaction analysis. Please use this template to complete this assignment.
1-May
Owner, Suzie Maye, invested $7,000 in her business, Matrix Consulting.
2-May
Company paid monthly rent, $900.
3-May
Company bought supplies on account, $600.
5-May
Company paid monthly advertising, $125.
9-May
Company performed services, $4,000.
12-May
Owner, Suzie Maye, withdrew $1,000 for personal use.
15-May
Company performed services on account for $5,400.
17-May
Company paid monthly salaries, $2,500.
20-May
Company made a payment on account, $600.
23-May
Company received $4,000 from a customer on account.
26-May
Company borrowed $5,000 from local bank.
29-May
Company bought equipment on account for $4,200.
30-May
Company paid monthly utilities, $275.
Please submit your assignment.
For assistance with your assignment, please use your text, Web resources, and all course materials.
Information related to above question is enclosed below:
Attachment:- ACC310-Template.rar
What is his maximum charitable contribution for this gift if his AGI is $500,000 (before considering the itemized deduction phase out)
Lacy's Linen Mart uses the retail method to estimate inventories. Data for the first six months of 2011 include: beginning inventory at cost and retail were $60,000 and $120,000, net purchases at cost and retail were $312,000 and $480,000, and sal..
What is the total amount of interest that Ozark's earned on the loan to Ben Spell?
The total factory overhead for Bardot Marine Company is budgeted for the year at $600,000. Bardot Marine manufactures two types of boats: speedboats.
Exhibit 4.31 presents profitability ratios for Hasbro for Year 2 and Year 3. Calculate each of these financial ratios for Year 4. The income tax rate is 35 percent.
Prepare entries to record (a) the purchase of the land, (b) the cost and installation of machinery, (c) the first five month's depletion
Record the journal entries for both transactions: issuance of the invoice, payment. Prepare the T-Accounts for: Accounts Payable and Merchandise Inventory.
The Lakeside Company uses a weighted-average process costing system. The following data are available
Susan Lussier is 35 years old and employed as a tax accountant for a major oil and gas exploration company. She earns nearly $135,000 a year from her salary.
Determine the correct balances at 31 July for Merchandise inventory and Cost of goods sold under each of the following inventory methods: (a) FIFO, (b) LIFO and (c) weighted-average. (For the purposes of the question, please ignore GST).
How should Corrs account for the sale, without recourse, of a February 1, 2010, note receivable sold on May 1, 2010? Why is it appropriate to account for it in this way?
The Ultra Services Company is a financial planning services firm owned and operated by Chad Tillman. As of July 31, 2008, the end of the current fiscal year, the accountant for The Ultra Services Company prepared an end-of-period spreadsheet (work..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd