ACC 290 Week 3 Assignment Help | University Of Phoenix
- University of Phoenix / ACC 290
- 20 Oct 2018
- Price: $8
- Other / Other
ACC 290 Week 3 Assignment Help | University Of Phoenix
1.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 $1,450 to pay the September rent. |
|
|
5 |
Performed services for $2,550 in cash. |
|
|
6 |
Performed services for $1,400 on credit. |
|
|
10 |
Paid $610 for monthly telephone bill; issued Check 1170. |
|
|
11 |
Paid for equipment repairs of $850 with Check 1171. |
|
|
12 |
Received $3,250 on account from credit clients. |
|
|
15 |
Issued Checks 1172–1177 for $4,250 for salaries. |
|
|
18 |
Issued Check 1178 for $2,050 to purchase supplies. |
|
|
19 |
Purchased new tennis rackets for $2,300 on credit from The Tennis Supply
Shop; received Invoice 3108, payable in 30 days. |
|
|
20 |
Issued Check 1179 for $2,770 to purchase new nets. (Equip.) |
|
|
21 |
Received $960 on account from credit clients. |
|
|
21 |
Returned a damaged net and received a cash refund of $460. |
|
|
22 |
Performed services
for $3,270 in cash. |
|
|
23 |
Performed
services for $4,860 on credit. |
|
|
26 |
Issued Check 1180
for $470 to purchase supplies. |
|
|
28 |
Paid the monthly
electric bill of $2,260 with Check 1181. |
|
|
30 |
Issued Checks
1182–1187 for $4,250 for salaries. |
|
|
30 |
Issued Check 1188 for $4,250 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?
2.The following journal entries were prepared by an employee of International Marketing Company who does not have an adequate knowledge of accounting.
(Assume that Office Equipment and Office
Supplies were recorded at the correct values.)
Required:
Examine the above journal entries carefully and
prepare the correcting journal entries.
Analyze:
After the correcting journal entries have been
posted, what effect do the corrections have on the company’s reported assets?
USA 
India