Balance sheet assignment, accounting, Basic Statistics


The High Company Balance Sheet Assignment (to be completed using Microsoft Excel)

-Create T accounts for each transaction #1-10
-Create a trial balance
-Create Income Statement
-Create a Statement of Owners Equity
-Create a final balance sheet

1. The owner supplies equity to begin the company in the amount of $350,000
2. Owner rents office space and pays $24,000 in advance
3. Owner purchases office furniture for $18,000 on account.
4. Owner purchases a lap top computer for $2,500 for cash.
5. Owner purchases office supplies for $3,500 for cash.
6. Owner sends bill for service to client for $36,000.
7. Owner pays employees salaries for the month $21,500.
8. Owner pays $6,000 toward office equipment purchased in #3.
9. Owner collects fees for service $36,000.
10. Owner pays utilities expense for the month of $2,100.
Posted Date: 2/26/2012 3:07:08 PM | Location : United States







Related Discussions:- Balance sheet assignment, accounting, Assignment Help, Ask Question on Balance sheet assignment, accounting, Get Answer, Expert's Help, Balance sheet assignment, accounting Discussions

Write discussion on Balance sheet assignment, accounting
Your posts are moderated
Related Questions
Ghosh Ltd is considering expanding its business and has to decide between taking on Project A or Project B. Both projects have a life of four years. Equipment is expected to have

Explain public budget A plan of financial process embodying an estimate of proposed expenditures and any other expenditure for a given era of time and the proposed means of finan

tools and techniques used in quantitative research

Definition of capital market is termed as a market where shares are traded after an initial issue. Capital market is the market where corporations, companies, and government debt

Inventory control Inventory Control is the guidance of provide, storage and convenience of items to ensure an adequate provide without excessive oversupply. It can also be known a

1. (i) Complaints were made about the level of pollutants in the discharge from a certain factory.  The factory refuted the complaints by showing the results of their own analysis

Introduction of Management Accounting Management accounting or managing sales is worried with the conditions and use of sales details to professionals within companies, to off

Give a brief discussion of the existing traditional method of absorbing overheads

The ABC Company''s old equipment for making subassemblies is worn out. The company is considering two alternatives: a) Completely replacing the old equipment with new equipment b)