Acc557 Strayer Financial Accounting P4-1A Thomas Magnum P.I. (Financial Statements, Closing Entries)

P4-1A 
Thomas Magnum began operations as a private investigator on January 1, 2008. The trial balance columns of the worksheet for Thomas Magnum, P.I. at March 31 are as follows. Other data: 1. Supplies on had total 2. Depreciation is   3. Interest accrued on 6-month note payable, issued January 1, 4. Insurance expires at the rate of 5. Services provided but unbilled at March 31 total 

Instructions: 
 (a) Complete the worksheet. 
 (b)
  1. Prepare an income statement for the quarter ended March 31, 2008. 
  2. Prepare a retained earnings statement for the quarter ended March 31, 2011. 
  3. Prepare a classified balance sheet for March 31, 2011.  (c) Journalize the adjusting entries from the adjustments columns of the worksheet. 
 (d) Journalize the closing entries from the financial statement columns of the worksheet.

BUY:  P4-1A Thomas Magnum

Acc557 Strayer Financial Accounting P4-3A Woods Company (FS, Post-Closing Trial Balance)

Note:  This problem uses Common stock, Retained Earnings, Dividends.

P4-3A 
The completed financial statement columns of the worksheet for Woods Company are shown below. 

(given information)

Instructions: 
a.  Prepare an income statement, a retained earnings statement, and a classified balance sheet. No additional common stock was issued during 2008. 
b.  Prepare the closing entries. (List multiple debit/credit entries in descending order of amount.) 
c.  Post the closing entries and rule and balance the accounts. Use T accounts. Income Summary is account No. 350. 
 d.  Prepare a post-closing trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)  

BUY: P4-3A Woods Company

Acc557 Strayer Financial Accounting P1-2A Nashville Veterinary Clinic (Tabular Analysis and FS)

Price:  US $10.00 (via Paypal)


P1-2AOn August 31, the balance sheet  of Nashville Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Office Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September the following transactions occurred. 
 1. Paid $2,900 cash on accounts payable. 
 2. Collected $1,300 of accounts receivable. 
 3. Purchased additional office equipment for $2,100, paying $800 in cash and the balance on account. 
 4. Earned revenue of $8,000 of which $2,500 is paid in cash and the balance is due in October. 
 5. Paid cash dividends of $1,000. 
 6. Paid salaries $1,700 rent for September $900, and advertising expenses $300. 
 7. Incurred utility expenses for month on account $170. 
 8. Received $10,000 from Capital Bank - money borrowed on a note payable. 


 Instructions 
 (a) Complete the table below. (Show the amount of increase or decrease for each transaction using a + for an increase (+500) and a - for a decrease (-500) and a 0 for no change. Please do not leave any fields blank. List multiple entries from largest to smallest eg 10, 5, 3, 2.) 
(b) Prepare an income statement for September, an retained earnings statement for September, and a balance sheet at September 30. (If there is a net loss, record amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Enter all other amounts as positive amounts and subtract where necessary. List amounts from largest to smallest e.g. 10, 5, 3, 2. For balance sheet list assets in order of liquidity 


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Acc280 Principles of Accounting: E4-2, E4-3 and E4-4 Goode Company (Worksheet, Trial Balance, Financial Statements, Closing Entries)

Price:  US $13.00 (via Paypal)

Acc280 Principles of Accounting

E4-2, E4-3, E4-4 Goode Company

E4-2 The adjusted trial balance columns of the worksheet for Goode Company are as follows.

Instructions

Complete the worksheet.

E4-3 Worksheet data for Goode Company are presented in E4-2. No common stock was issued during April.

Instructions

Prepare an income statement, a retained earnings statement, and a classified balance sheet.

E4-4 Worksheet data for Goode Company are presented in E4-2.

Instructions

(a) Journalize the closing entries at April 30.

(b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts.

(c) Prepare a post-closing trial balance at April 30.

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Acc280 Principles of Accounting: P4-2A The adjusted trial balance columns of the worksheet for Porter Company

This version of the problem uses corporate accounts - common stock, retained earnings and dividends.

P4-2A 
The adjusted trial balance columns of the worksheet for Porter Company are as follows. 
PORTER COMPANY 
Worksheet 
For the Year Ended December 31, 2008 
(given data)

Instructions

1. Complete the worksheet by extending the balances to the financial statement columns.

2. Prepare an income statement, a retained earnings statement, and a classified balance sheet. $10,000 of the notes payable become due in 2009. No additional issuance of common stock occurred during 2008.

3. Prepare the closing entries. Use J14 for the journal page.

4. Post the closing entries. Use the three-column form of account. Income Summary is account No. 350.

5. Prepare a post-closing trial balance.

BUY:  P4-2A Porter Company