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Acct 301 Week 1 Essay

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Below is an essay on "Acct 301 Week 1" from Anti Essays, your source for research papers, essays, and term paper examples.

Name
Week 1 Homework

EXERCISE 1-3

(a) (b)
Accounts payable and accrued liabilities L O
Accounts receivable A O
Property, plant, and equipment E I
Food and beverage operations revenue R O
Golf course operations revenue R O
Inventory A O
Long-term debt L F
Office and general expense E O
Professional fees expense E O
Wages and benefits expense E O


PROBLEM 1-3A

(a) ECKERSLEY SERVICE CO.
Income Statement
For the Month Ended June 30, 2010
Revenues
Revenue $7,000
Expenses
Wage expense 1,400
Supplies expense 1,000
Gas and oil expense 600
Advertising expense 400
Utilities expense 300
Total expenses 3,700
Net income $3,300

ECKERSLEY SERVICE CO.
Retained Earnings Statement
For the Month Ended June 30, 2010

Retained earnings, June 1 $1,300
Add:   Net income 3,700
5,000
Less: Dividends 2,000
Retained earnings, June 30 $3,000


ECKERSLEY SERVICE CO.
Balance Sheet
30-Jun-10

Assets
Cash $4,600
Accounts receivable 4,000
Supplies 2,400
Equipment 29,000
Total assets $40,000

Liabilities and Stockholders’ Equity
Liabilities
Notes payable 12000
Accounts payable 500
Total liabilities $12,500
Stockholders’ equity
Retained earnings 1300
Common stock 26,200
Total liabilities and stockholders’ equity $40,000


(b)




(c)







EXERCISE 2-1

CL Accounts payable and accrued liabilities Income taxes payable
CA Accounts receivable CA Inventories
PPE...

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Acct 301 Week 1. Anti Essays. Retrieved December 10, 2018, from the World Wide Web: http://parimatchstavki7.com/free-essays/Acct-301-Week-1-507001.html