ACC 557 Week 3 Assignment 1 Review of Accounting Ethics ( 2 Paper )
a ) If the amount in Supplies Expense is the January 31 adjusting entry , and $ 670 of supplies was purchased in January , what was the balance in Supplies on January 1 ? ............
b ) If the amount in Insurance Expense is the January 31 adjusting entry , and the original insurance premium was for one year , what was the total premium and when was the policy purchased ? ............
c ) If $ 3,300 of salaries was paid in January , what was the balance in Salaries and Wages Payable at December 31 , 2013 ? ............
P3-2A : Lazy River Resort opened for business on June 1 with eight air-conditioned units . Its trial balance before adjustment on August 31 is as follows .
a ) Journalize the adjusting entries on August 31 for the 3-month period June 1 – August 31 . ............
b ) Prepare a ledger using the three-column form of account . Enter the trial balance amounts and post the adjusting entries ............
c ) Prepare an adjusted trial balance on August 31 . ............
d ) Prepare an income statement for the 3 months ending August 31 . ............
e ) Prepare a retained earnings statement for the 3 months ending August 31 ............
f ) Prepare a balance sheet as of August 31 ............ ===================================================
ACC 557 Week 3 Assignment 1 Review of Accounting Ethics ( 2 Paper )