UOP ACC 290 Week 3 Apply Connect Assignment (With Excel File)

UOP ACC 290 Week 3 Apply Connect Assignment (With Excel File)

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ACC 290 Week 3 Apply Connect Assignment
Complete the Week 3 Assignment in Connect.
Note: You have only 1 attempt available to complete assignments
1 On October 1, 2019, Helen Kennedy opened an advertising agency.
DATE
TRANSACTIONS

Oct. 1

Helen Kennedy invested $61,000 cash in the business.

2

Paid October office rent of $3,050; issued Check 1001.

5

Purchased desks and other office furniture for $13,900 from Office Furniture Mart, Inc.; received Invoice 6704 payable in 60 days.

6

Issued Check 1002 for $3,250 to purchase art equipment.

7

Purchased supplies for $1,600; paid with Check 1003.

10

Issued Check 1004 for $490 for office cleaning service.

12

Performed services for $4,150 in cash and $1,950 on credit. (Use a compound entry.)

15

Returned damaged supplies for a cash refund of $290.

18

Purchased a computer for $3,050 from Office Furniture Mart, Inc., Invoice 7108; issued Check 1005 for a $1,775 down payment, with the balance payable in 30 days. (Use one compound entry.)

20

Issued Check 1006 for $6,950 to Office Furniture Mart, Inc., as payment on account for Invoice 6704.

26

Performed services for $4,450 on credit.

27

Paid $270 for monthly telephone bill; issued Check 1007.

30

Received $3,750 in cash from credit customers.

30

Mailed Check 1008 to pay the monthly utility bill of $345.

30

Issued Checks 1009–1011 for $8,050 for salaries.

Required:

1.     Journalize the above transactions.

2.     Post the above transactions to the ledger accounts.

Analyze:

What is the balance of account 202 in the general ledger?

2.
The following journal entries were prepared by an employee of International Marketing Company who does not have an adequate knowledge of accounting.
GENERAL JOURNAL
Date Description Post. Ref. Debit Credit
2019
April 1 Accounts Payable 14000
Fees Income 14000
Performed services on credit

2 Cash 660
Telephone Expense 660
Paid for March telephone service, Check 1917

3 Office Equipment 8480
Office Supplies 960
Cash 10000
Purchased file cabinet and office supplies, Check 1918

2
The transactions that follow took place at the Desoto Recreation and Sports Arena during September 2019. This firm has indoor courts where customers can play tennis for a fee. It also rents equipment and offers tennis lessons.

DATE

TRANSACTIONS

Sept.

1

Issued Check 1169 for $1,200 to pay the September rent.

5

Performed services for $3,200 in cash.

6

Performed services for $2,050 on credit.

10

Paid $560 for monthly telephone bill; issued Check 1170.

11

Paid for equipment repairs of $800 with Check 1171.

12

Received $3,000 on account from credit clients.

15

Issued Checks 1172–1177 for $4,000 for salaries.

18

Issued Check 1178 for $1,800 to purchase supplies.

19

Purchased new tennis rackets for $2,050 on credit from The Tennis Supply Shop; received Invoice 3108, payable in 30 days.

20

Issued Check 1179 for $2,720 to purchase new nets. (Equip.)

21

Received $910 on account from credit clients.

21

Returned a damaged net and received a cash refund of $410.

22

Performed services for $3,400 in cash.

23

Performed services for $4,990 on credit.

26

Issued Check 1180 for $600 to purchase supplies.

28

Paid the monthly electric bill of $2,390 with Check 1181.

30

Issued Checks 1182–1187 for $4,000 for salaries.

30

Issued Check 1188 for $4,000 cash to Ellis Carter for personal expenses.

Required:

Record each of the above transactions in the general journal.

Analyze:

If the company paid a bill for supplies on October 1, what check number would be included in the journal entry description?

 

 

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