User Homework Solutions

ACC 205 WEEK 2 2. Understanding the closing process. Examine the following list of accounts: Interest Payable Accumulated Depreciation: Equipment Alex Kenzy, Drawing Accounts Payable Service Revenue Cash Accounts Receivable Supplies Expense Interest Expense Which of the preceding accounts a. appear on a post-closing trial balance? b. are commonly known as temporary, or nominal, accounts? c. generate a debit to Income Summa

Other / Other allied-american-university / ACC 205 18 Sep 2015

ECO 550 WEEK 4 DISCUSSION I Production Economics Please respond to the following From the scenario for Katrina’s Candies, determine the relevant costs for the expansion decision, and distinguish between the short run and the long run costs. Recommend the key decision-making criteria that Katrina’s Candies should use for expansion decisions in the short run and in the long run. Provide rationale for your response.

Other / Other allied-american-university / ECO 550 18 Sep 2015

ACC 205 WEEK 2 3. Adjusting entries and financial statements. The following information pertains to Fixation Enterprises: 1. The company previously collected $1,500 as an advance payment for services to be rendered in the future. By the end of December, one third of this amount had been earned. 2. Fixation provided $2,500 of services to Artech Corporation; no billing had been made by December 31. 3. Salaries owed to employees at year-end am

Other / Other allied-american-university / ACC 205 18 Sep 2015

ACC 205 WEEK 2 4. Adjusting entries. You have been retained to examine the records of Kathy’s Day Care Center as of December 31, 20X3, the close of the current reporting period. In the course of your examination, you discover the following: • On January 1, 20X3, the Supplies account had a balance of $2,350. During the year, $5,520 worth of supplies was purchased, and a balance of $1,620 remained unused on December 31. • Unr

Other / Other allied-american-university / ACC 205 18 Sep 2015

ACC 205 WEEK 2 5. Bank reconciliation and entries. The following information was taken from the accounting records of Palmetto Company for the month of January: Balance per bank $6,150 Balance per company records $3,580 Bank service charge for January $20 Deposits in transit $940 Interest on note collected by bank $100 Note collected by bank $1,000 NSF check returned by the bank with the bank statement $650 Outstanding chec

Other / Other allied-american-university / ACC 205 18 Sep 2015

ACC 205 WEEK 1 Balance sheet preparation. The following data relate to Preston Company as of December 31, 19XX: Building $44,000 Accounts receivable $24,000 Cash 17,000 Loan payable 30,000 J. Preston, Owners Equity 65,000 Land 21,000 Accounts payable ? Prepare a balance sheet as of December 31, 19XX. (See Exhibit 1.1 and 1.4)

Other / Other allied-american-university / ACC 205 18 Sep 2015

ECO 550 WEEK 1 DISCUSSION I Fundamental Economic Concepts Please respond to the following Answer the following discussions based on the Katrinas Candies scenario From the scenario for Katrina’s Candies, examine the key factors affecting the demand for and the supply of a good in general and Katrina’s Candies specifically. Distinguish between a change in demand and a change in the quantity demanded (movement along the demand cur

Other / Other allied-american-university / ECO 550 18 Sep 2015

ECO 550 WEEK 1 DISCUSSION II Supply and Demand Please respond to the following From the e-Activity, examine the key factors that influence the supply and demand of the selected good in general and Katrina’s Candies specifically. Propose two (2) methods in which organizations that provide the good may utilize this information. Provide a rationale for your response.

Other / Other allied-american-university / ECO 550 18 Sep 2015

ECO 550 WEEK 2 DISCUSSION I Estimating Demand Please respond to the following From the scenario for Katrina’s Candies, examine the procedure Herb will use to estimate the demand model developed in the scenario for Week 1. Determine the meaning, relevance, and importance for a manager interpreting the regression results.

Other / Other allied-american-university / ECO 550 18 Sep 2015

ACC 205 WEEK 1 .Basic journal entries The following transactions pertain to the Jennifer Royall Company: Apr. 1 Jenni­fer Royall invested cash of $15,000 and land valued at $10,000 from into the business. 5 Provided $1,200 of services to Jason Ratchford, a client, on account. 9 Paid $250 of salaries to an employee. 14 Acquired a new computer for $3,200, on account. 20 Collected $800 from Jason Ratchford for ser

Other / Other allied-american-university / ACC 205 18 Sep 2015