User Account

All Pages

Prepare the accrual on wednesday and the needed adjustment

Assignment Help Accounting Basics
Reference no: EM131501990

Assignment

Prepare the Statement of Owner's Equity for the Summertime Corporation, year ended 12/31/2012, using the following information:

Beginning Capital $10,000
Change in Net Income 5,000
Additional Investments 2,000
Withdrawals 1,000

Prepare the adjusting entries for the following transactions:

1. Salaries are usually paid on Fridays, $500. The month ended on Wednesday though. Prepare the accrual on Wednesday and the needed adjustment on Friday.

2. The supply closet started with $1,000 but a count revealed only $100 was left at month end.

3. Prepaid insurance was $300 for three months, January 1st, prepare the necessary adjustment at 1/31/2013.

Reference no: EM131501990

Questions Cloud

Identify the portfolio investment opportunities : FIN201 - Investment Management Assignment. You are required to select four emerging markets, identify the portfolio investment opportunities which they offer to funds managers and investors
Principles of supervision : Appraising employee performance on a regular basis has an important influence on an employee's performance.
Elements necessary for effective leadership : Describe the various elements necessary for effective leadership within a coalition. How does this apply to your professional practice or life?
What visual images can you identify in both poems : What visual images can you identify in both poems? Comment on the details you notice about objects, places, people, colors, textures and so forth.
Prepare the accrual on wednesday and the needed adjustment : Salaries are usually paid on Fridays, $500. The month ended on Wednesday though. Prepare the accrual on Wednesday and the needed adjustment on Friday.
Discuss the elements of planning control and decision making : Module Project- Public Manufacturing Company- Discuss the elements of planning, control, and decision making that are used by that company.
Effective leadership within a coalition : Describe the various elements necessary for effective leadership within a coalition. How does this apply to your professional practice or life?
Develop a database driven web application : ITECH6401 Enterprise Programming Assignment. You are required to develop a database driven web application which will be used as a basis for a Postgraduate Student Enrolment Database (PSEDB) application
Wheel training for only new hires : Based on the information in the case and Exhibit 3 of the study, would you recommend behind the wheel training for only new hires or for the entire fleet.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd