This paper circulates around the core theme of Requirements: a. Record the following transactions in the journal of Howell Consulting. Explanations together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Requirements: a. Record the following transactions in the journal of Howell Consulting. Explanations 1 answer below » Requirements: a. Record the following transactions in the journal of Howell Consulting. Explanations are not required. b. Create T accounts for each transaction (Use the next blank page) c. Prepare a trial balance for the end of the period (Use the next blank page) d. Prepare a Balance Sheet e. Prepare an Income Statement f. Prepare a statement of retained earnings (Beginning R/E is $0) Document Preview: Requirements:
Record the following transactions in the journal of Howell View complete question » Requirements: a. Record the following transactions in the journal of Howell Consulting. Explanations are not required. b. Create T accounts for each transaction (Use the next blank page) c. Prepare a trial balance for the end of the period (Use the next blank page) d. Prepare a Balance Sheet e. Prepare an Income Statement f. Prepare a statement of retained earnings (Beginning R/E is $0) Document Preview: Requirements:
Record the following transactions in the journal of Howell Consulting. Explanations are not required.
Create T accounts for each transaction (Use the next blank page)
Prepare a trial balance for the end of the period (Use the next blank page)
Prepare a Balance Sheet
Prepare an Income Statement
Prepare a statement of retained earnings (Beginning R/E is $0)
Sep. 1 received $150,000 cash and issued common stock.
4 Purchased supplies, $800, and furniture, $5,000, on account.
6 Performed Services for a law firm and received $12,000 cash.
6 Declared dividends in the amount of $4,000
7 Paid $35,000 cash to acquire land for a future office site.
10 Performed service for a client and received their promise to pay the $2,000 within one week.
14 Paid for the furniture purchased September 4 on account.
30 Paid Secretary’s salary, $1,600.
30 Paid Dividends declared on September 6.
Date Accounts Debit Credit
Compute Cost of good sold using both FIFO and LIFO from the following data.
Date Activities Units Acquired/Sold at Cost Jan. 1 Beginning Inventory 1500 units @ $14 Jan. 10 Sales 550 units @ $34 Mar. 14 Purchases 400 units @ $19 Mar. 15 Sales 500 units @ $40 July 30 Purchase 600 units @ $11 Oct. 5 Sales 250 units @ $35 Oct. 26 Purchase 100 units @ $18
On January 1, 2007 your company purchased a piece of equipment for $650,000 with a useful life of 15 years and an expected salvage value of $50,000. At the end of year 10 the company revised the life of the equipment to 25 years. What is the depreciation expense taken in year 10? What is the depreciation expense taken in year 11? What is the depreciation expense taken in year 26 after the purchase of the equipment?
Using the information… Attachments: Final-Exam-AC….doc View less » Jul 28 2015 12:02 PM
