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Julie Molony opened Julie?s Maids Cleaning Service...




Julie Molony opened Julie?s Maids Cleaning Service Inc. on July 1, 2008. During July, the company completed the following transactions. July 1 Issued $14,000 of common stock for $14,000 cash. 1 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account. 3 Purchased cleaning supplies for $800 on account. 5 Paid $1,800 on a one-year insurance policy, effective July 1. 12 Billed customers $3,800 for cleaning services. 18 Paid $1,000 of amount owed on truck, and $400 of amount owed on cleaning supplies. 20 Paid $1,600 for employee salaries. 21 Collected $1,400 from customers billed on July 12. 25 Billed customers $1,500 for cleaning services. c ol lege/wey gan dt Financial Reporting Problem PepsiCo, Inc. BYP4-1 Appendix A at the end of this textbook presents the financial statements of PepsiCo. Instructions Answer the following questions using the Consolidated Balance Sheet and the Notes to Consolidated Financial Statements section. (a) What were PepsiCo?s total current assets at December 31, 2005 and December 25, 2004? (b) Are assets that PepsiCo included under current assets listed in proper order? Explain. (c) How are PepsiCo?s assets classified? BROADENING YOUR PERSPECTIVE FINANCIAL REPORTING AND ANALYSIS 190 Chapter 4 Completing the Accounting Cycle CONTINUING COOKIE CHRONICLE (Note: This is a continuation of the Cookie Chronicle from Chapters 1 through 3.) CCC4 Natalie had a very busy December. At the end of the month after journalizing and posting the December transactions and adjusting entries, Natalie prepared an adjusted trial balance. Using that information, she wants to prepare financial statements for the year-end, closing entries, and a post-closing trial balance. 31 Paid gas and oil for the month on the truck, $400. 31 Paid a $600 cash dividend. The chart of accounts for Julie?s Maids Cleaning Service contains the following accounts:No. 101 Cash, No. 112 Accounts Receivable, No. 128 Cleaning Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation?Equipment, No. 201 Accounts Payable, No. 212 Salaries Payable,No. 311 Common Stock,No. 320 Retained Earnings,No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gas & Oil Expense, No. 634 Cleaning Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries Expense. Instructions (a) Journalize and post the July transactions. Use page J1 for the journal. (b) Prepare a trial balance at July 31 on a worksheet. (c) Enter the following adjustments on the worksheet, and complete the worksheet. (1) Earned but unbilled fees at July 31 were $1,300. (2) Depreciation on equipment for the month was $200. (3) One-twelfth of the insurance expired. (4) An inventory count shows $100 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $500. (d) Prepare the income statement and a retained earnings statement for July, and a classified balance sheet at July 31, 2008. (e) Journalize and post the adjusting entries. Use page J2 for the journal. (f ) Journalize and post the closing entries, and complete the closing process. Use page J3 for the journal. (g) Prepare a post-closing trial balance at July 31. (b) Trial balance totals $25,700 (d) Net income $3,050 Total assets $23,350 (g) Trial balance totals $23,550,I only need the appendix G completed not all the others that were in the post you had, if this amount is not to your standard, please let me know, thank you


Paper#2410 | Written in 18-Jul-2015

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