Discipline: Business Finance - Accounting

General JournalGeneral Journal

  This assignment has 2 parts, as follows: Please explain the purpose of adjusting entries and closing entries. In a 1-2-page, not including the title and reference pages, detail what each accomplishes, and give examples of each. Please journalize the closing entries from the attached 10-column worksheet. Use the attached template to complete your General Journal.

BalancingBalancing

 A.M. Vegas started a business called Blazinsevens. The following is the Trial Balance as of December 31 on the first year of operations. Using this information, please complete the remainder of the attached worksheet. Office supplies inventory as of December 31, $190. Unexpired insurance as of December 31, $700 Depreciation of delivery equipment, $450. Wages […]

Financial statementsFinancial statements

  You are the head of an investigative team, and your supervisor has asked you to put together a presentation for the next training session for new team members. Your focus is on the financial statements of a corporation. Before creating the presentation, you have been tasked with providing a proposal that describes what you […]

Preparing transactionsPreparing transactions

 The Super Hero Theme Park was started on January 1 of the current year by Dr. Strange. The following selected events and transactions occurred during January: 1-Jan Jack Strange, the owner, invested $50,000 in the business. 5-Jan Purchased equipment for $100,000 on account from The Gotham Company. 8-Jan Incurred advertising expense of $1,800 on account […]

BookkeepingBookkeeping

 Select 2 companies in the same industry (for example, the home improvement industry or the candy industry). Use the Internet to find the companies’ financial statements.  From the financial statements, list the different components from the Stockholder’s Equity section. Read the footnotes to the financial statements to see what they disclose about their Stockholder’s Equity […]

Provide an example for each of the following transactions that would describe its effect on the accounting equation.Provide an example for each of the following transactions that would describe its effect on the accounting equation.

The general manager of a business encounters many different types of business transactions. Provide an example for each of the following transactions that would describe its effect on the accounting equation. Each situation is independent of the other situations. The transaction would increase an asset account and increase a liability account. The transaction would decrease an […]

The role of an accountant?The role of an accountant?

  Assuming the role of an accountant, your new client Suzie Maye needs help in setting up basic accounting practices for her business. You begin by showing her how to set up a transaction analysis based on the accounting equation of Assets = Liabilities + Owner’s Assets. You show Suzie how to enter the various […]

Response to postResponse to post

Give your outlook on each post about 5 sentences minimum.  POST A: When testing the mean for business data, statisticians sometimes get confused about when to use the independent-samples t-tests, and one-sample t-tests. State when it is appropriate to use each of the three t-tests. This could be for business-related problems or questions relating to […]