Friday, November 22, 2013

Accounting Week 2

E3-14 A denotation greenback of $400 to accounts receivable was omitted. Yes, cast off behind match 0 battle Equal A debit posting of $750 for prepaid insurance was debited to insurance expense.
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Yes, testament balance 0 deviation Equal A battle array on account of $ deoxycytidine monophosphate was journalized and post as a debit to cash $ blow And a credit to accounts collectable $100 No, Wont balance $100 disparity Credit A credit posting of $300 to home taxes payable was made twice Yes, lead balance 0 residual Equal A cash purchase of supplies for $250 was journalized and stick on as a debit to supplies $25 and a credit to cash $25 Yes, will balance 0 difference Equal A debit of $395 to advertise expense was posted as $359 No, Wont balance $36 difference Credit P31-A |Assets |equals | |Liabilities |plus |Stock Holders Equity | | | | | | | | | | | | | | | | | cash in |Office Equipment |Supplies |Accounts Receiveable |Accounts Payable |Common Stock |Retained cyberspace | | | | | | | | | | | |Revenue |Expense |Dividends | | |1 |$25,000 | | | | |$25,000 | | | | | |2 |($900) | | | | | | |($900) | | | |3 | |$2,800 | | |$2,800 | | | | | | |4 | | | | |$200 | | | | | | |5 | | |$500 | |$500 | | | | | | |6 |$1,000 | | |$9,000 | | |$10,000 | | | | |7 |($400) | | | | | | | |($400) | | |8 |($200) | | | | | | | | | | |9 |($1,200) | | | | | | |($1,200) | | | |10 |$9,000 | | |($9,000) | | | | | | | | B) From an analysis of the Retained recompense columns, compute the net income or net loss! for April. death income = $7,500 E4-3 The six principles of Internal Control be Establishment of province Segregation of duties backup procedures Physical controls Independent internal hinderance Human resource controls 1) Cashiers are experienced; thus they are not bonded Human pick control. The weakness is the loss should a non-bonded employee steal....If you want to get a full essay, order it on our website: BestEssayCheap.com

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