Assignment Details<\/b><\/p>\n
Assignment Description<\/b><\/p>\n
Use this template<\/a> for your assignment.Final Project Overview<\/b>Throughout this course, you have learned various components of accounting. These components work hand-in-hand to create the accounting cycle \u2013 the process of recording, summarizing and reporting transactions. The final project will provide you the opportunity to apply the skills covered in this course through the completion of the accounting cycle. In addition, you will be able to demonstrate your understanding through analysis of the completed information. Final Project Data<\/b> On December 1, 2015 John Trap created a new travel agency, Trap Adventures, Inc. providing exclusive adventure trips. The following transactions occurred during December 2015.(NOTE: There are no beginning balances \u2013 this is a new company.) <\/p>\n Dec<\/p>\n 1<\/p>\n John Trap invested $60,000 cash in the company for common stock.<\/p>\n 2<\/p>\n Purchase office equipment for $17,500 cash.<\/p>\n 2<\/p>\n The company rented furnished office space by paying $18,000 cash for the first six months (December 2015 \u2013 May 2016) rent.<\/p>\n 3<\/p>\n The company purchased $1,500 of office supplies on account.<\/p>\n 10<\/p>\n The company paid $3,600 cash for the premium on a 12-month insurance policy.<\/p>\n 14<\/p>\n The company paid $10,750 cash for two weeks’ salaries earned by employees.<\/p>\n 24<\/p>\n The company collected $54,000 cash on commissions from airlines on tickets obtained for customers.<\/p>\n 28<\/p>\n The company paid $12,125 cash for two weeks’ salaries earned by employees.<\/p>\n 29<\/p>\n The company paid $350 cash for minor repairs to the company’s computer.<\/p>\n 30<\/p>\n The company paid $450 cash for this month’s telephone bill.<\/p>\n 30<\/p>\n Dividends of $3,000 cash were paid.<\/p>\n Adjustment Data:<\/p>\n Final Project Requirements<\/b>Using the spreadsheet found here<\/a> and information above, complete the following: <\/p>\n Please submit your assignment.<\/b><\/p>\n For assistance with your assignment, please use your text, Web resources, and all course materials.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Assignment Details Assignment Description Use this template for your assignment.Final Project OverviewThroughout this course, you have learned various components of accounting. These components work hand-in-hand to create the accounting cycle \u2013 the process of recording, summarizing and reporting transactions. The final project Read More …<\/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-50376","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/50376","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=50376"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/50376\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=50376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=50376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=50376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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