Reference no: EM131528175
Question: Gary Bauer opens a computer consulting business called Technology Consultants and completes the following transactions in April.
April 1 Bauer invested $100,000 cash along with $24,000 in office equipment in the company.
2 The company prepaid $7,200 cash for twelve months' rent for an office. (Hint: Debit Prepaid Rent for $7,200.)
3 The company made credit purchases of office equipment for $12,000 and office supplies for $2,400. Payment is due within 10 days.
6 The company completed services for a client and immediately received $2,000 cash.
9 The company completed an $8,000 project for a client, who must pay within 30 days.
13 The company paid $14,400 cash to settle the account payable created on April 3.
19 The company paid $6,000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,000.)
22 The company received $6,400 cash as partial payment for the work completed on April 9.
25 The company completed work for another client for $2,640 on credit.
28 Bauer withdrew $6,200 cash from the company for personal use.
29 The company purchased $800 of additional office supplies on credit.
30 The company paid $700 cash for this month's utility bill.
Required: 1. Prepare general journal entries to record these transactions (use the account titles listed in part 2).
2. Open the following ledger accounts-their account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); G. Bauer, Capital (301); G. Bauer, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). Post the journal entries from part 1 to the ledger accounts and enter the balance after each posting.
3. Prepare a trial balance as of the end of April.
|
Address the overall ppbe process
: Address the overall PPBE process to include the DoD's Planning, Programming, and Budgeting System (PPBS) in 2 pages. References must be from a journal article.
|
|
Explain the usual ifrs formats
: BMW reports the following balance sheet accounts for the year ended December 31, 2009 (euro in millions). Prepare the balance sheet for this company.
|
|
What is the most important step to take when reading article
: In your opinion, what is the most important step to take when reading research articles? What obstacles make finding "meaning" difficult when reading a article.
|
|
Explore how businesses react to changing economic times
: Explore how businesses react to changing economic times and the influence this has on product and service positioning in the market place.
|
|
Discuss the transactions of computer consulting business
: Gary Bauer opens a computer consulting business called Technology Consultants and completes the following transactions in April.
|
|
Write down why you believe in the stance
: Who is my audience and which points will they be interested in - What kind of tone am I assuming for my argument?
|
|
Definition and origins of rehabilitation in prison
: Definition of parole and how it differs from mandatory release. Definition of probation and how it compares to other forms of sentencing
|
|
Discuss apples stance on labor and human rights
: Discuss Apple's stance on each of the following areas: Empowering workers, Labor and Human Rights, Health and Safety, The Environment and Accountabili.
|
|
Using balance column format open the ledger accounts
: Shana Shelton, the owner, invested $105,000 cash, office equipment with a value of $6,000, and $45,000 of drafting equipment to launch the company.
|