{"id":50272,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/can-you-assist-me-with-this-question-and-apa-format-journal-entries"},"modified":"2017-08-16T12:27:37","modified_gmt":"2017-08-16T12:27:37","slug":"can-you-assist-me-with-this-question-and-apa-format-journal-entries","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/can-you-assist-me-with-this-question-and-apa-format-journal-entries\/","title":{"rendered":"Can you assist me with this question? and APA format. Journal Entries"},"content":{"rendered":"<p>You are believer that new employees should practice their accounting skills before &#8220;throwing them into the fire.&#8221; Therefore, you have listed a series of transactions that require journal entries and updating of T-Accounts.<\/p>\n<p>You know that preparing nonprofit journal entries are easy, so you ask the new employee to<\/p>\n<ul>\n<li>prepare, side by side, the correct journal entry for the identical transaction:\n<ul>\n<li>once for a nonprofit entity<\/li>\n<li>once for a for-profit company<\/li>\n<\/ul>\n<\/li>\n<li>include notes for each transaction<\/li>\n<\/ul>\n<ol>\n<li>Transaction 1:&nbsp;Assume a nonprofit has a restricted fund for capital asset purchases. Compare the journal entries for the cash purchase of a $10,000 computer by the nonprofit, to how the journal entry would look for this for-profit.<\/li>\n<li>Transaction 2:&nbsp;Assume that a nonprofit has a need for $80,000 for a particular new marketing expenditure, and a for-profit entity needs to raise an additional $80,000 to pay for some unanticipated marketing expenses. How would the journal entities look at the acquisition of the funds and the subsequent spending of the funds?<\/li>\n<li>Transaction 3:&nbsp;The for-profit entity sells $120,000 with net 30-day terms, while the nonprofit entity has a fund raising drive for which they receive pledges of $120,000. How do the two journal entries look?<\/li>\n<\/ol>\n<p>Please submit your assignment.<\/p>\n<p>The following grading criteria will apply to this assignment:<\/p>\n<p>Grading Criteria<\/p>\n<p>30%<\/p>\n<p>For Transaction 1, prepare, side by side, the correct journal entry for a nonprofit entity and a for-profit company.<\/p>\n<p>30%<\/p>\n<p>For Transaction 2, prepare, side by side, the correct journal entry for a nonprofit entity and a for-profit company 1.<\/p>\n<p>30%<\/p>\n<p>For Transaction 3, prepare, side by side, the correct journal entry for a nonprofit entity and a for-profit company.<\/p>\n<p>10%<\/p>\n<p>All Notes in the journal entries are correct.<\/p>\n<p>For assistance with your assignment, please use your text, Web resources, and all course materials.<\/p>\n<p>Unit Materials<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You are believer that new employees should practice their accounting skills before &#8220;throwing them into the fire.&#8221; Therefore, you have listed a series of transactions that require journal entries and updating of T-Accounts. You know that preparing nonprofit journal entries <a href=\"https:\/\/www.benedictsol.com\/blogs\/can-you-assist-me-with-this-question-and-apa-format-journal-entries\/\" class=\"read-more\">Read More &#8230;<\/a><\/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-50272","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/50272","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=50272"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/50272\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=50272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=50272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=50272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}