{"id":200709,"date":"2018-09-13T22:21:02","date_gmt":"2018-09-13T22:21:02","guid":{"rendered":"http:\/\/localhost\/wordpress\/index.php\/2018\/09\/13\/acct-216-week-2-homework\/"},"modified":"2018-10-24T08:50:50","modified_gmt":"2018-10-24T08:50:50","slug":"acct-216-week-2-homework","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/acct-216-week-2-homework\/","title":{"rendered":"ACCT 216 Week 2 Homework"},"content":{"rendered":"<p>1.\u00a0Please\u00a0write\u00a0a\u00a04-6\u00a0sentence\u00a0paragraph\u00a0on\u00a0the\u00a0following\u00a0question.\u00a0Describe\u00a0each\u00a0of\u00a0the\u00a04\u00a0basic\u00a0financial\u00a0statements.\u00a0What\u00a0is\u00a0the\u00a0relationship\u00a0between\u00a0them?\t2.\u00a0During\u00a0the\u00a0first\u00a0month\u00a0of\u00a0operations\u00a0(March\u00a02011)\u00a0Jerry\u00a0Enterprises\u00a0completed\u00a0the\u00a0following\u00a0selected\u00a0transactions:\ta.The\u00a0business\u00a0received\u00a0$12,000\u00a0in\u00a0cash\u00a0and\u00a0a\u00a0building\u00a0valued\u00a0at\u00a0$52,000.\u00a0The\u00a0corporation\u00a0issued\u00a0stock\u00a0to\u00a0the\u00a0contributors\u00a0of\u00a0these.\tb.Borrowed\u00a0$15,800\u00a0from\u00a0the\u00a0bank\u00a0and\u00a0signed\u00a0a\u00a0note\u00a0payable\u00a0to\u00a0them\tc.Paid\u00a0$12,000\u00a0for\u00a0equipment\td.Purchased\u00a0supplies\u00a0on\u00a0account\u00a0for\u00a0$200\te.Paid\u00a0employees&#8217;\u00a0salaries\u00a0of\u00a0$2,100\tf.Performed\u00a0services\u00a0for\u00a0customer\u00a0on\u00a0account,\u00a0$2,800\tg.Paid\u00a0$100\u00a0of\u00a0the\u00a0accounts\u00a0payable\u00a0in\u00a0transaction\u00a0d\u00a0above\th.Received\u00a0a\u00a0$800\u00a0bill\u00a0for\u00a0advertising\u00a0expense\u00a0that\u00a0will\u00a0be\u00a0paid\u00a0in\u00a0the\u00a0near\u00a0future\ti.Received\u00a0cash\u00a0on\u00a0account,\u00a0$1,600\tj.Paid\u00a0rent\u00a0of\u00a0$1,200\tRequired:\tPrepare\u00a0the\u00a0journal\u00a0entries\u00a0for\u00a0the\u00a0above\u00a0transactions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1.\u00a0Please\u00a0write\u00a0a\u00a04-6\u00a0sentence\u00a0paragraph\u00a0on\u00a0the\u00a0following\u00a0question.\u00a0Describe\u00a0each\u00a0of\u00a0the\u00a04\u00a0basic\u00a0financial\u00a0statements.\u00a0What\u00a0is\u00a0the\u00a0relationship\u00a0between\u00a0them? 2.\u00a0During\u00a0the\u00a0first\u00a0month\u00a0of\u00a0operations\u00a0(March\u00a02011)\u00a0Jerry\u00a0Enterprises\u00a0completed\u00a0the\u00a0following\u00a0selected\u00a0transactions: a.The\u00a0business\u00a0received\u00a0$12,000\u00a0in\u00a0cash\u00a0and\u00a0a\u00a0building\u00a0valued\u00a0at\u00a0$52,000.\u00a0The\u00a0corporation\u00a0issued\u00a0stock\u00a0to\u00a0the\u00a0contributors\u00a0of\u00a0these. b.Borrowed\u00a0$15,800\u00a0from\u00a0the\u00a0bank\u00a0and\u00a0signed\u00a0a\u00a0note\u00a0payable\u00a0to\u00a0them c.Paid\u00a0$12,000\u00a0for\u00a0equipment d.Purchased\u00a0supplies\u00a0on\u00a0account\u00a0for\u00a0$200 e.Paid\u00a0employees&#8217;\u00a0salaries\u00a0of\u00a0$2,100 f.Performed\u00a0services\u00a0for\u00a0customer\u00a0on\u00a0account,\u00a0$2,800 g.Paid\u00a0$100\u00a0of\u00a0the\u00a0accounts\u00a0payable\u00a0in\u00a0transaction\u00a0d\u00a0above h.Received\u00a0a\u00a0$800\u00a0bill\u00a0for\u00a0advertising\u00a0expense\u00a0that\u00a0will\u00a0be\u00a0paid\u00a0in\u00a0the\u00a0near\u00a0future i.Received\u00a0cash\u00a0on\u00a0account,\u00a0$1,600 j.Paid\u00a0rent\u00a0of\u00a0$1,200 Required: Prepare\u00a0the\u00a0journal\u00a0entries\u00a0for\u00a0the\u00a0above\u00a0transactions<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-200709","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/200709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=200709"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/200709\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=200709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=200709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=200709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}