Accounting Adjusting And Correcting Journal Entry Case Study Homework Help Service Online.

Accounting Adjusting and Correcting Journal Entry

On the designated worksheet, prepare in journal entry form all adjusting and correcting journal entries based on the following information (Round all numbers to the nearest dollar). Before preparing entries, finish the story by filling in the blanks.

a. On June 1, 2009 a 19 month insurance policy was purchased for $24,000.

b. On 7/1/2009, Free paid Glamor Advertising $50,000 for two years of advertising services. Equal services are provided each month.

c. Free Apparel needed some temporary additional storage space so on 7/1/2009 they rented a unit for an annual rate of $12,000.

d. $14,250 of store supplies were purchased during the year and store supplies expense was increased. $9,850 of these supplies remain at the end of the year.

e. $2,500 of office supplies were purchased during the year and the asset office supplies was increased. $1,619 of these supplies remained at the end of 2009.

f. On December 1, 2009, Free Apparel issued a 3-month note receivable to New Skin Company at an annual interest rate of 10%. Principle and interest will be paid at the end of the 3-months. The note was recorded in Notes Receivable and is the only note outstanding.

g. You note that store equipment and office equipment has not been depreciated for this year. The company uses DDB. Free Apparel expects to use all equipment for 20 years with a salvage value of $1,000 for each.

h. The storage building was purchased this year on February 1. The building is being depreciated on a straight-line basis using partial year. The building is estimated to have a life of 40 years and a savage value of $18,619.

i. Office salaries of $9,800 remained unpaid at 12/31/09, but the prior accountant did not accrue. Sales personnel are also due their last commission check which is net sales times 1%.

j. On 7/1/2009, Free Apparel rented a portion of one store to Twister Co. The contract was for 19 months and Free Apparel required all of the cash up front. The rent is being earned equally each month. When cash was received, unearned rent was appropriately recorded and no revenue has been recorded for this transaction in 2009.

k. Based on your review of the cash balances, you note that there was an overdraft of ($10,250) in one of your bank accounts where this is the only account at that bank. The previous accountant netted this amount with the other cash accounts.

l. At 12/31/2009, based on the aging method of all accounts with debit balances, Free apparel determines that noncollectable accounts are $94,250.

m. Free Apparel uses the Dollar Value LIFO inventory method. For internal purposes, the Merchandise Inventory Account is maintained at FIFO (current costs). At the end of the year, the LIFO reserve account is adjusted so inventory on the balance sheet reflects Dollar Value LIFO. You need to calculate the proper inventory balance and adjust the LIFO reserve. The price index for this year is 1.06. Prior year inventory records show the following calculation for 2008:

300,000 X 1.0 = 300,000
20,000 X 1.03 = 20,600
15,000 X 1.04 = 15,600
336,200

n. Free Apparel was authorized to issue 1,000,000 shares of $1 par Common Stock but has only issued 500,000 shares of common stock at 12/31/2009. All 500,000 shares are outstanding.

o. Free Apparel has two loans outstanding. Interest is paid annually. The facts on each loan is as follows:

Onstar Bank – outstanding since March 1, 2009 with a 6.5% interest rate.
Coldstar Bank – outstanding since 7/1/2009, with a 5.9 %.
Since interest will not be paid until 2010, Free Apparel did not accrue any interest.

p. Free Apparel has a straight tax rate of 28%.

q. The Land Account includes a piece of land with a cost and fair value of $225,000 that is not currently being used in the normal operations of the building. This piece of land is being held for speculative purposes.

r. On January 1, 2007, Free Apparel purchased a patent for $70,000. At the time of the purchase the patent had an estimated useful life of 7 years with no residual value. In 2009, the company has estimated that the patent will only be useful until the end of 2010. No one knows what to do with this information so no amortization has been recorded for 2009.

s. As of 12/31/2009 the Available for Sale Securities have a fair value of $82,619. Due to the major market decline, the company does not plan on selling the assets in 2010, but their intent is to sell at some point in time.

(Hint: Unrealized gains and losses can be recorded directly to Accumulated Other Comprehensive Income.)

t. During the year, Free Apparel did some research and development on some new products. They properly expensed all of the research but the accountant read in an article that under IFRS they could capitalize development costs so he capitalized $189,000 of development expenses as an other intangible asset.

Content Source: https://www.besthomeworkhelpers.com/accounting-adjusting-and-correcting-journal-entry-case-study-homework-help/

Advertisements

Accounting Purchases Transaction and Accounting Cycle Homework Help Service Online.

Accounting Purchases Transaction

1. What is the most important output of the accounting cycle? Do all companies have an accounting cycle? Explain using examples.

2. Blake Gillis, president of Wayside Enterprises, applied for a $175,000 loan from American National Bank. The bank requested financial statements from Wayside Enterprises as a basis for granting the loan. Blake has told his accountant to provide the bank with a balance sheet. Blake has decided to omit the other financial statements because there was a net loss during the past year. In groups of three or four, discuss the following questions:

1. Is Blake behaving in a professional manner by omitting some of the financial statements?

2.

a. What types of information about their businesses would owners be willing to provide bankers? What types of information would owners not be willing to provide?
b. What types of information about a business would bankers want before extending a loan?
c. What common interests are shared by bankers and business owners?

3. If you had a nontrivial sum of money to invest and decided to invest it in a country index fund, in which country or countries identified in Exhibit 1-7 would you invest your money? What accounting issues would play a role in your decision?

Know more: https://www.besthomeworkhelpers.com/accounting-purchases-transaction-and-accounting-cycle-homework-help/

Quick Solution To Assignment Problems With Finance Assignment Help Online Service!

Finance Assignment Help Online

Accounting and finance both is the most important branch of business management. A student if wants to understand business management should have perfect knowledge in the field of finance and accounting. Accounting helps to understand the financial statements while finance helps to determine how much to finance in which field. Students should be perfect in the field of both the management subjects. Both the subject has same importance. Online experts are very talented in both these fields. Today millions of students are taking help and getting better marks from before. Hence, taking help online is of no more risk.

The term business encompasses with numerous subjects. All the subjects are very important in its field. Finance is one of them which play the role of heart in business sector. This is not just restricted to financial statements or process of exchanging and management. Students of business face lots of struggle to excel in the field of finance. The most important thing that a student needs to excel in finance assignment is to handle data, researches and manage statistical data. The finance assignment help online companies explain and give tips to handle the data. The online companies are today very popular and trusted due to their work pace in this field.

In each subject students face some problems, accounting is also a complicated subjects. Students face lots of problems while solving maths in accounting. Accounting is actually termed as business language; it is actually the processing of financial information. Today, it is very difficult to complete degree in accounting without accounting assignment help online. These online companies have hired experienced and talented experts to secure the results of student. These experts understand the difficulties faced by students while writing assignment. Hence, they play excellent role in serving students. The accounting experts working in these companies provide help with accounting essays and papers. They understand the importance of deadlines and that is the reason these experts never compromise with deadlines. They have good understanding in the field of accounting. The help provided by these experts not only raise the grades but it also helps to gain insight knowledge in the particular topic.

The experts cover popular topics on accounting and finance assignments. The topics are theory on financial statements, statistical data and many more. There is no wonder that online companies have more than 3000+ talented experts who are very excellent in their work field. These experts can handle any type of accounting and financial assignments. They provide A grade quality writing pieces. Students from various schools, colleges and universities are taking help from these online companies. It is very important to check the quality of writing pieces before taking online help. Students should read and follow all the terms and conditions before hiring online companies. Sometimes students get trap into fraudulent companies which lead to low grade marks.

Related Post: Process To Get The Best Finance Assignment Help Online

Get 5 Reasons of Why Mandatory is Taking Accounting Assignment Help Service For College Students!

Accounting Assignment Help-BHH

Students are getting conscious about their studies, but due to lack of guidance and advice, students scare of taking new experiments with subjects. Accounting is one of the subjects in which students face lots of problems. But as it is the main part of business studies students have to face all the difficulties to get good marks. But now it’s time to hire best online service which provides Accounting Assignment Help to all level of students. They hire a group of experts who are highly experienced in the field of accounting and business administration.

Accounting assignments are very mandatory for accounting students because it provides them a basic structure to understand the concepts of accounting. Business is a subject which encompasses many different fields and each department has its own importance. The different field is accounting, finance, operation management, strategic management and much more. These all department plays the vital role in increasing organization’s production. There are numerous companies offering online Accounting Homework Help service to the college, under graduate and post-graduate students. But choosing the best one depends upon the choice of students. These online companies spread their wipes to different countries like UK, USA, Australia, and Canada. They also provide service to small cities and countries.

It is well known that different universities and college are assigning lots of assignment on accounting to students. Due to which students get tedious and distress because of deadlines. These deadlines are like monsters for students because it gives lots of stress to students. The experts of online writers are deadline oriented writers who provide their assignment solution on time. The main aim of providing help on accounting assignment is to give students an environment free from stress and tension. Due to scary nature of students, they are unable to score high marks in their exams and assessments.

 Accounting is a subject which systematically records all the financial movement of the company. The main aim of accounting assignment is to guide students with perfect knowledge on accounting. Accounting is a subject which has its spread in different fields like mathematics, statistics, financial department and much more. Students of management have to study accounting concepts to become good managers in best organizations.

In Conclusion:

It is well known that there are thousands of students are assigning online help on accounting. But what is the reason behind assigning online experts? The answer is the lack of time and lack of good professors. Professors of universities and colleges have no time to guide students on the basic level. This is the main reason students are inclining towards online help and writers for their assignment writing.  Mainly students of management hire online help because management is the subject which needs more projects and assignment for the better understanding of the concept. It demands more practical work rather than theoretical work. Hence these experts are all time ready to serve the student with their best guidance.

Related Post: Accounting Assignment Help- Get Help and Become A Master in Accountings!

Get Best Strategy to Achieve High Marks in Accounting With Accounting Assignment Help Experts!

students-123RF-dolgachov-1024x719Economics is assumed as the main part of business administration. Students of business studies have deep conceptual knowledge in economics. There are the number of institutes offering best studies in economics. But due to its complex structure and numerical sums students face lots of difficulties in understanding economics concepts. Assignments on economics have lots of mathematical problems and it encompasses with lots of economics concepts. To understand all the conceptual problems students need online Economics Homework Help service to get best solutions. Economics along with business studies is a vast concept. It helps to explain all the processes related to production and consumption of goods and services.

To understand the concept of economics students need intention of learning and interest in the subject. It is very difficult to understand a subject without interest in the subject. These online experts help students to develop the interest in the subject by explaining all the concepts in step wise solution to each question. Students of management get the number of difficulties while writing assignments. There are different concepts in economics like the concept of inflation, assignments on micro economics and macroeconomics, the concept of demand and supply and much more. Hence, to solve the difficulty level of assignments and homework students assign online experts.

Accounting is a subject which plays a major role in the business administration. To run a business accounting plays the most important role. There are numerous institutes offer best studies in accounting. It provides an in-depth study of the daily operations of the company. it helps t o analyze the position of the company. For commerce and business students accounting is a subject that develops their basic concepts and theories. It helps them to understand the techniques of business more properly and practically. Hence today students are assigning online Accounting Assignment Help to get the best solution of their problems.

Accounting assignments are very important to understand the concept. In academic institutes, assignments and homework both are an integral part of studies. It helps them to develop their basic level and knowledge about the subject. These online experts help students to grow their confidence while writing the assignment. They provide sample solutions to their student customers. There are the number of issues in accounting which are unable to understand without the help of experts. That is why these online experts provide full information on every topic.

In Conclusion:

Accounting and economics both are an important subject of business management. both are very different from each other. But to run a business, a person needs to be best in both the subjects. Economics help students to analyze and implement the best technology in the production process while accounting helps to analyze the financial position of the company and also describes the financial statements of the organization. These online experts provide full assistance on both the subject. They provide a grade solution t affordable price rate.

 

Related Post: Dependable and affordable economics homework help that student can trust!

Become Master In Accounting With Experts Of Accounting Assignment Help Service!

Accounting-Assignment-Help256

Students of 21st century want to pursue knowledge in different subjects. They want to enhance their career with bright future and position. They want to have success in the business world but for this students need deep knowledge of concepts and market updates which help them to become a good business man. In the business world accounting is the most important and vital subject. A person who is best in accounting and takes all the decision and information related to the business world is known as the accountant. Students of school level, college level or post-graduate level take Accounting Assignment Help service to upgrade their rank in class performance.

The study of numerous financial transactions is known as accounting. Mostly organizations or companies hire accountants to analyze or record the financial statement of the company. Accounting sometimes also defined as the complete study of financial dealing and reporting it to the accountant and manages all the operations of the company. It is well known that in accounting there are several branches and it is used for numerous purposes. The different kinds of accounting are management accounting, tax accounting, fund accounting and financial accounting. Accounting procedures create transparency in organizational processes and business finances. Students of management need to understand all the operation and techniques of management.

Financial accounting is a part of accounting which is assigned as the most significant part of accounting. One can learn all the financial information of the company through financial accounting. There are many companies who are well-trained in assigning students with best assignment solutions. These companies are known as Finance Assignment Help companies which are online available. Finance managers are responsible for making financial statements of the company or business.

It is well known that accounting provides in-depth knowledge of many concepts and helps students to understand the business techniques. In today’s world accounting is regarded as the most demanding subject. Today accounting is followed in every field like medicine, chemistry, engineering and much more. The online experts are highly experienced in providing service related to all field. They accounting help service to university and college students so they cannot find any difficulty in writing assignment or homework. These experts are remarkably very talented and experienced in various sectors.

In Conclusion:

Accounting and finance both are the vital and important part of business management. Management is a field where students learn how to manage their business with best techniques of production. There are numerous companies offering number one help service but not every company fulfills the requirement of students. Different students have a different requirement. Hence they have to choose the company according to their requirement. Students have to be very confident while writing an assignment. This is the first and foremost step to write an assignment. Secondly, they have to be acquainted with all the terms and conditions of the topics. The assignment requires deep knowledge and full concentration.

Related Post: Get Tips On How To Get Best Accounting Assignment Help Service With Experienced Experts.

Accounting Assignment Help- Get Help And Become A Master In Accountings!

Accounting-Assignment-Help256

Accounting is a subject which is illustrated by comprehensive and systematic recording of financial data and statements. Students of management if asked to write assignment on accounting topics, then they reach to Accounting Assignment Help service. The main reason of assigning these online help is that accounting is a complex and difficult subject. If students have any problem in understanding the concepts of accounting, students can take help of experts who are highly qualified and experienced in this field. Students can clear there doubt through online chat with experts and tutors.

There are different types of accounting which students study in their academic courses they are financial accounting, auditing, tax accounting, fund accounting and management accounting and many more. In accounting concepts, there are many concepts which turn from traditional to modern concepts. Accounting helps to identify the transactions from source document. The students across the world like UK, Australia, USA and Canada take assistance from these online websites and have best marks in their assessment. These online experts cover all the concepts of accounting and deliver the best solution to their students.

Writing economics projects and assignment need special knowledge and experience not only in economics but also in different industries. Students of economics field need good assistance and guidance to discuss the complexity of the subject. Economics Homework Help student to get ready for big economics projects and assignments. Every students working on economics projects need assistance to find some solutions of their problems. Economics is a branch related to social science. It helps to explain the factors available to determine the production and consumption of goods and services. The former name of economics was political economics but as modernization takes place in 20th century it turns into simply economics.

 A short deadline also makes pressure on students to complete their assignment which makes them more tedious and which also results in lank of confidence. Students need much confidence to write any assignment. Because assignments and economics homework needs deep research work and dedication. The process of economics homework solution is also a tough task because every company cannot provide best assistance to their students. Economics is a mathematics oriented subject which combines with finance and helps in analysis of country’s economy.

Conclusion:

Accounting and economics both are subjects of business management. Students of MBA, BBA or of management department take online help. They need to take help because the assignments provided by their students need practical analysis and research work. There are numerous companies providing online help but every company does not provide A grade quality solution. It must be the prime duty of every expert to provide best assistance and solutions to their student customers. Short questions and quick response help students to solve their problem quickly. Hence they can approach these websites via emails, Google search or live chats.

For more information visit our website: www.besthomeworkhelpers.com

Related Post: Get tips on how to get Best Accounting Assignment Help Service with Experienced Experts.