Show me how to post my homework

Just do my homework!

  • HTML tags will be transformed to conform to HTML standards.
  • Add rel="nofollow" to external links
Question
Submitted by Asma on Sat, 2012-07-07 12:03
due on Wed, 2012-07-11 11:58
answered 2 time(s)
Asma is willing to pay $50.00
Asma bought 277 out of 419 answered question(s)

other students are interested:
torado on Sat, 07 Jul 2012
2 anonymous students showed interest

Acc210 Chapter 2 Exam

Shelton Engineering completed the following transactions in the month of June.

a.

Shana Shelton, the owner, invested $105,000 cash, office equipment with a value of $6,000, and $45,000 of drafting equipment to launch the company in exchange for common stock.

b.

The company purchased land worth $54,000 for an office by paying $5,400 cash and signing a long term note payable for $48,600.

c.

The company purchased a portable building with $75,000 cash and moved it onto the land acquired in b.

d.

The company paid $6,000 cash for the premium on an 18-month insurance policy.

e.

The company completed and delivered a set of plans for a client and collected $5,700 cash.

f.

The company purchased $22,500 of additional drafting equipment by paying $10,500 cash and signing a long-term note payable for $12,000.

g.

The company completed $12,000 of engineering services for a client. This amount is to be received in 30 days.

h.

The company purchased $2,250 of additional office equipment on credit.

i.

The company completed engineering services for $18,000 on credit.

j.

The company received a bill for rent of equipment that was used on a recently completed job. The $1,200 rent cost must be paid within 30 days.

k.

The company collected $7,200 cash in partial payment from the client described in transaction g.

l.

The company paid $1,500 cash for wages to a drafting assistant.

m.

The company paid $2,250 cash to settle the account payable created in transaction h.

n.

The company paid $675 cash for minor maintenance of its drafting equipment.

o.

The company paid $9,360 cash for dividends.

p.

The company paid $1,500 cash for wages to a drafting assistant.

q.

The company paid $3,000 cash for advertisements in the local newspaper during June.

Required:

1.

Record these transactions using the following titles: Cash, Accounts Receivable, Prepaid Insurance, Office Equipment, Drafting Equipment, Building, Land, Accounts Payable, Notes Payable, Common Stock, Dividends, Engineering Fees Earned, Wages Expense, Equipment Rental Expense, Advertising Expense, and Repairs Expense.(Omit the "$" sign in your response.)

Answer
Submitted by Asma on Sat, 2012-07-07 12:05
teacher rated 374 times
4.68182
purchased one time
price: $50.00

Answer rating (rated one time)

5

For Tornado Only

body preview (4 words)

Solution file xx attached.

file1.doc preview (394 words)

xxxxxxx 2-2A (90 xxxxxxxxx

xxxx 1

xxx Cash 101 105,000

Office xxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxx Equipment 164 45,000 xx

S. xxxxxxxx Capital 301 156,000

Owner xxxxxxxx xxxx xxx equipment.

xxxxxxxxxxxxxxxxxxxx xx

Cash 101 5,400

xxxxxxx xxxxxxxxxxxxxxxxxxxx

Purchased land with cash xxx note xxxxxxxxx

c. Building 170 75,000

Cash 101 75,000

Purchased xxxxxxxxxx

d. Prepaid Insurance 108 6,000

Cash 101 6,000

xxxxxxxxxxx 18-month insurance policy.

e. Cash 101 5,700

xxxxxxxxxxxxxx Fees Earned 402 5,700

Collected cash xxx xxxxxxxxx xxxxxx

f. Drafting xxxxxxxxxxxxxxxxxxxxxx

Cash 101 10,500

xx xxxx Payable 250 12,000

Purchased xxxxxxxxx with xxxx and xxxx xxxxxxxxx

xxxxxxxxxxxx Receivable 106 12,000

xxxxxxxxxxxxxx Fees Earned 402 12,000

Completed services xxx client.

xxxxxxxxxx Equipment 163 2,250

Accounts xxxxxxxxxxxxxxxxxxx

xxxxxxxxxxx xxxxxxxxx on credit.

xx Accounts Receivable 106 18,000

xxxxxxxxxxxxxx Fees xxxxxxxxxxxxxxxxxxx

Billed client xxx completed xxxxxx

xxx

xxxxxxx xxxx (Part x Continued)

j. Equipment Rental xxxxxxxxxxxxxxxxxx

xxxxxxxxxxx xxxxxxxxxxxxxxxxxxx

Incurred equipment rental xxxxxxxxx

xxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxx cash on account.

l. Wages Expense 601 1,500

xxxxxxxxxxx 1,500

Paid xxxxxxxxx’x wages.

xxxxxxxxxxxx Payable 201 2,250

xxxxxxxxx xxxxxx

Paid amount due xx xxxxxxxxx

n. Repairs Expense 604 675

xxxCash 101 675

xxxxxxx xxx repair of xxxxxxxxx.

xxxxxx Shelton, xxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxx

xxxxxx xxxxxxxxx xxx personal use.

p. Wages Expense 601 1,500

xxxxxxxxxxxxxxxxxxx

Paid xxxxxxxxx’s wages.

xxxxxxxxxxxxxxx Expense 603 3,000

xxxxxxxxxxxxxxxxxxx

xxxxxx for xxxxxxxxxxx xxxxxxxxx

Problem xxxx xxxxxxxxxxx

Part 2

xx

xxxxxxxx xxx

xxxxxxxx xxxxxxxxxxx xxx

Date

xx

- - - more text follows - - -


Buy this answer

Try it before you buy it
Check plagiarism for $2.00

Answer
Submitted by mehedi244273 on Tue, 2012-07-10 07:37
teacher rated 0 times
0
price: $50.00

SOLVED Shelton Engineering completed the following transactions in the month of June

body preview (17 words)

xxxxx SOLVED Shelton Engineering xxxxxxxxx the xxxxxxxxx transactions in xxx month xx xxxxxxx welcome xx xxx xxxx

file1.doc preview (394 words)

xxxxxxx xxxxxxxxxxx completed the following xxxxxxxxxxxx in xxx month xx June.

xxxxx xxxxxxxx xxx owner, xxxxxxxx $105,000 xxxxx xxxxxx xxxxxxxxx with x xxxxx xx $6,000, xxx xxxxxxx of drafting equipment to xxxxxx the company in exchange xxx common stock.

xxxxxxxx

xx

xx

Cash

xxxxxx

Office Equipment

6000

xxxxxxxx xxxxxxxxx

xxxxx

xxxxxx xxxxx

xxxxxx

xxx xxxxxxx purchased xxxx xxxxx xxxxxxx xxx xx office by xxxxxx xxxxxx cash xxx signing a xxxx term xxxx payable xxx $48,600.

xxxxxxx

xx

xx

Land

54,000

xxxx

5,400

Long Term xxxxx xxxxxxx

xxxxxx

The company purchased a xxxxxxxx xxxxxxxx xxxx $75,000 xxxx and moved it onto the land acquired xx b.

xxxxx

xx

Cr

xxxxxxxx

xxxxxx

xxxx

xxxxxx

The company xxxx $6,000 xxxx xxx xxx premium xx xx xxxxxxxx insurance xxxxxxx

xxxxxx

xx

Cr

xxxxxxx xxxxxxxxx

6,000

xxxx

6,000

The company xxxxxxxxx and xxxxxxxxx x set xx plans xxx x xxxxxx and xxxxxxxxx xxxxxx cash.

xxxxxx

xx

Cr

Cash

5,700

Engineering xxxx

5,700

The xxxxxxx xxxxxxxxx xxxxxxx of xxxxxxxxxx xxxxxxxx xxxxxxxxx xx paying $10,500 xxxx xxx xxxxxxx a xxxxxxxxx note xxxxxxx for xxxxxxxx

xxxx

xx

xx

xxxxxxxx xxxxxxxxx

xxxxxx

xxxx

10,500

xxxx xxxx Notes xxxxxxx

xxxxxx

xxx company xxxxxxxxx $12,000 of xxxxxxxxxxx xxxxxxxx xxx x xxxxxxx This xxxxxx is xx be received xx 30 xxxxx

xxxxx

Dr

Cr

xxxxxxx receivable

xxxxxx

Engineering xxxx

xxxxxx

xxx company purchased $2,250 xx additional office

- - - more text follows - - -


Buy this answer

Try it before you buy it
Check plagiarism for $2.00