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Problem 2-3a – due in 14 hours – accounting | accounting

DUE IN 14 HOURS 

Complete the established, Problem 2-3A Template.  Please connect to Ch. 2,  in your textbook for minute instructions.  Save your aggregated performance and submit 

Please solely sanction if you can aggregate in 6 hours. The section is beneath:

2-3Journalizing and Posting to Accounts

Obj. 3

As elucidated, a affair is leading recitative in a narrative. Periodically, the narrative entries are transmitted to the aggregateitys in the ledger. The method of transferring the debits and reputations from the narrative entries to the aggregateitys is determined posting.

The December affairs of NetSolutions are used to elucilimit posting from the narrative to the ledger. By using the December affairs, an attached retrospect of analyzing and narrativeizing affairs is granted.

A narrative initiation is shown. December 1 is the limit involved. Prepaid Protection is debited delay 2,400 shown in the Debit shaft. Currency is reputationed delay 2,400 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid recompense on one-year method. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity. Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 1 initiation of 2,400 is shown. The Debit shaft of the Currency T aggregateity is broad. Under the Currency T aggregateity, a T aggregateity for Prepaid Protection is shown. The aggregateity calculate, 15, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Prepaid Protection T aggregateity, a December 1 initiation of 2,400 is shown. The Reputation shaft of the Prepaid Protection T aggregateity is broad.Enlarge ImageDynamic Exhibit 2-1Copystraight © Cengage Learning. All Rights Reserved

The posting of the contriveer December 1 affair is shown in Exhibit 5. Notice that the T aggregateity mould is not used in Exhibit 5. In exercitation, the T aggregateity is usually replaced delay a trutination four-shaft aggregateity as shown in Exhibit 5.

Exhibit 5Diagram of the Recording and Posting of a Debit and a Reputation Ledger, NetSolutionsA narrative initiation is shown on Page 2 of a narrative mould. The narrative is tamed in two to point-out that thither are affairs not scheduleed hither that appearred precedently the initiation shown. December 1 is the limit involved. Prepaid Protection is debited delay 15 shown in the Post. Ref. shaft and 2,400 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post Ref. shaft and 2,400 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid recompense on one-year method. The quantitys in the Debit and Reputation shafts are highlighted in sky sky sky sky blue-colored-colored tinge font. Beneath the narrative initiation are two ledger aggregateitys. The leading ledger aggregateity shown is Prepaid Insurance. The aggregateity calculate, 15, is shown in the top-straight retreat. One affair is scheduleed. December 1, 2018 is the limit involved in the Limit shaft. The year 2018 appears in weak symbol over the promise Dec. The Individual shaft is broad, 2 is shown in the Post. Ref. shaft, and 2,400 is shown in the Debit shaft and the Debit Poise shaft. In the Debit shaft, 2,400 is highlighted in sky sky sky sky blue-colored-colored tinge font. The relieve ledger aggregateity shown is Cash. The aggregateity calculate, 11, is shown in the top-straight retreat. Three affairs are scheduleed. In the leading affair, November 1, 2018 is the limit involved in the Limit shaft; the Individual shaft is broad; 1 is shown in the Post. Ref. shaft; and 25,000 is shown in the Debit shaft and the Debit Poise shaft. In the relieve affair, November 30 is the limit involved in the Limit shaft; the Individual shaft is broad; 2 is shown in the Post. Ref. shaft; 2,000 is shown in the Reputation shaft; and 5,900 is shown in the Debit Poise shaft. In the third affair, December 1 is the limit involved in the Limit shaft; the Individual shaft is broad; 2 is shown in the Post. Ref. shaft; 2,400 is shown in the Reputation shaft and is highlighted in sky sky sky sky blue-colored-colored tinge font; and 3,500 is shown in the Debit Poise shaft. Precedently the scheduleings of the relieve and third affairs, the aggregateity is tamed in two to point-out that thither are affairs not scheduleed hither that appearred succeeding the leading affair scheduleed and precedently the relieve affair scheduleed hither. In twain ledger aggregateitys, thither is a weak arrow pointing to Dec. 1 in the Limit shaft delay the promises Step 1 written in brave symbol to the left of the arrow. In the narrative initiation, thither is a weak arrow going from the 2,400 in the Debit shaft to the 2,400 in the Debit shaft of the Prepaid Protection ledger aggregateity delay the promises Step 2 written in brave symbol. In the narrative initiation, thither is a weak arrow going from the 2,400 in the Reputation shaft to the 2,400 in the Reputation shaft of the Currency ledger aggregateity delay the promises Step 2 written in brave symbol by the arrow. In twain ledger aggregateitys, a weak arrow delay the promises Step 3 in brave symbol underneath the arrow points to the 2 in the Post. Ref. shaft. In the narrative initiation, thither are two weak arrows pointing to the 15 and 11 in the Post. Ref. shaft, delay the promises Step 4 in brave symbol to the left of each arrow.Enlarge Image

The debits and reputations for each narrative initiation are posted to the aggregateitys in the arplace in which they appear in the narrative. To elucidate, the debit interest of the December 1 narrative initiation is posted to the prepaid protection aggregateity in Exhibit 5 using the subjoined indelicate steps:

  1. Step 1.The limit (Dec. 1) of the narrative initiation is entered in the Limit shaft of Prepaid Insurance.
  2. Step 2.The quantity (2,400) is entered into the Debit shaft of Prepaid Insurance.
  3. Step 3.The narrative page calculate (2) is entered in the Posting Reference (Post. Ref.) shaft of Prepaid Insurance.
  4. Step 4.The aggregateity calculate (15) is entered in the Posting Reference (Post. Ref.) shaft in the narrative.

As shown in Exhibit 5, the reputation interest of the December 1 narrative initiation is posted to the currency aggregateity in a concordant carriage.

The fostering December affairs for NetSolutions are analyzed and narrativeized in the subjoined paragraphs. These affairs are posted to the ledger succeeding in this section (see Exhibit 6). To facilitate, some of the December affairs are stated in abridgment mould. For model, currency ordinary for services is normally recitative on a daily premise. However, solely abridgment aggregates are recitative at the average and end of the month for NetSolutions.

A narrative initiation is shown. December 1 is the limit involved. Schism Charge is debited delay 53 shown in the Post. Ref. shaft and 800 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 800 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid schism for December. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (the promise Charge is set in parentheses). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 1 initiation of 800 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Owner's Equity (the promise Charge is set in parentheses) in the aggregateitying equation, a T aggregateity for Schism Charge is shown. The aggregateity calculate, 53, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Schism Charge T aggregateity, a December 1 initiation of 800 is shown. The Reputation shaft of the Schism Charge T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 1 is the limit involved. Schism Charge is debited delay 53 shown in the Post. Ref. shaft and 800 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 800 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid schism for December. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (the promise Charge is set in parentheses). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 1 initiation of 800 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Owner's Equity (the promise Charge is set in parentheses) in the aggregateitying equation, a T aggregateity for Schism Charge is shown. The aggregateity calculate, 53, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Schism Charge T aggregateity, a December 1 initiation of 800 is shown. The Reputation shaft of the Schism Charge T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 1 is the limit involved. Currency is debited delay 11 shown in the Post. Ref. shaft and 360 shown in the Debit shaft. Unearned Schism is reputationed delay 23 shown in the Post. Ref. shaft and 360 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Ordinary remove reimbursement for three months' schism on place. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity. Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Currency T aggregateity, a December 1 initiation of 360 is shown. The Reputation shaft of the Currency T aggregateity is broad. Under Liabilities in the aggregateitying equation, a T aggregateity for Unearned Schism is shown. The aggregateity calculate, 23, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Unearned Schism T aggregateity, a December 1 initiation of 360 is shown. The Debit shaft of the Unearned Schism T aggregateity is broad.Enlarge ImageDynamic Exhibit 2-1Copystraight © Cengage Learning. All Rights ReservedBusiness Connection

Microsoft's Unearned Revenue

Microsoft Corporation develops, manufactures, licenses, and patronages a broad place of computer software products, including, Word®, Excel®, and the Xbox® gaming method. When Microsoft sells its products, it to-boot provides technical patronage and interrupted updates on those products for a continuance of interval. Thus, at the interval of sale, a interest of the pay is unearned (deferred) for these services. As interval passes and services are granted to customers, Microsoft chronicless a interest of its unearned (deferred) wealth as wealth.

To elucidate, the subjoined gather was enslaved from a fresh financial assertion of Microsoft:

Unearned wealth … involve(s) reimbursements for: post-delivery patronage and consulting services to be manufactured in the future; Xbox Live subscriptions and prepaid points; Microsoft Dynamics occupation solutions products; Employment 365 subscriptions; Skype prepaid reputations and subscriptions; Bundled Offerings; and other offerings for which we bear been paid in remove….

During a fresh year, Microsoft stated as wealth $48,498 darling of unearned wealth, which is 57% of its aggregate wealths. For a fresh year bound June 30, Microsoft to-boot reputed on its poise equivocation a amenability for unearned wealth of $33,909 darling. Thus, the chroniclesing of unearned wealth is a suggestive individual for Microsoft.

Source: Microsoft Corporation, Mould 10-K, For the Year Ended June 30, 2016.A narrative initiation is shown. December 4 is the limit involved. Employment Equipment is debited delay 18 shown in the Post. Ref. shaft and 1,800 shown in the Debit shaft. Accounts Payable is reputationed delay 21 shown in the Post. Ref. shaft and 1,800 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Purchased employment equipment on aggregateity. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity. Under Assets in the aggregateitying equation, a T aggregateity for Employment Equipment is shown. The aggregateity calculate, 18, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Employment Equipment T aggregateity, a December 4 initiation of 1,800 is shown. The Reputation shaft of the Employment Equipment T aggregateity is broad. Under Liabilities in the aggregateitying equation, a T aggregateity for Accounts Payable is shown. The aggregateity calculate, 21, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Accounts Payable T aggregateity, a December 4 initiation of 1,800 is shown. The Debit shaft of the Accounts Payable T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 6 is the limit involved. Miscellaneous Charge is debited delay 59 shown in the Post. Ref. shaft and 180 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 180 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid for newspaper catalogue. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Expense). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 6 initiation of 180 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Owner's Equity (Expense) in the aggregateitying equation, a T aggregateity for Miscellaneous Exp. is shown. The aggregateity calculate, 59, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Miscellaneous Exp. T aggregateity, a December 6 initiation of 180 is shown. The Reputation shaft of the Miscellaneous Exp. T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 11 is the limit involved. Accounts Payable is debited delay 21 shown in the Post. Ref. shaft and 400 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 400 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid reputationors on aggregateity. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity. Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 11 initiation of 400 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Liabilities in the aggregateitying equation, a T aggregateity for Accounts Payable is shown. The aggregateity calculate, 21, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Accounts Payable T aggregateity, a December 11 initiation of 400 is shown. The Reputation shaft of the Accounts Payable T aggregateity is broad.Enlarge ImageJournalizing and Posting to AccountsEnlarge ImageA narrative initiation is shown on Page 3 of a narrative mould. December 13 is the limit involved in the Limit shaft. The year 2018 appears in weak symbol over the promise Dec. Remuneration Charge is debited delay 51 shown in the Post. Ref. shaft and 950 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 950 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid two weeks' remuneration. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Expense). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 13 initiation of 950 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Owner's Equity (Expense) in the aggregateitying equation, a T aggregateity for Remuneration Charge is shown. The aggregateity calculate, 51, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Remuneration Charge T aggregateity, a December 13 initiation of 950 is shown. The Reputation shaft of the Remuneration Charge T aggregateity is broad.Enlarge ImageLink to Apple

In a fresh year, Apple incurred advertising charge of $1.2 beakion. Apple reports advertising charge as part-among-among of Selling, General, and Administrative Expenses.

Business Connection

Computerized Accounting Systems

Computerized aggregateitying methods are broadly used by equable the weakest companies. These methods facilitate the chronicles-keeping method in that affairs are recitative in electronic moulds. Forms used to beak customers for services granted are repeatedly aggregated using drop-down menus that schedule services that are normally granted to customers. An auto-aggregate initiation component may to-boot be used to glut in customer names. For model, symbol “ca” to spread-out customers delay names start delay “Ca” (Caban, Cahill, Carey, and Caswell). And to facilitate basis initiation, entries are automatically posted to the ledger aggregateitys when the electronic mould is aggregated.

One common aggregateitying software lot used by weak- to medium-sized occupationes is QuickBooks®. Some models of using QuickBooks to chronicles aggregateitying affairs are elucidated and discussed in Section 5.

Journalizing and Posting to AccountsEnlarge ImageA narrative initiation is shown. December 16 is the limit involved. Accounts Receivable is debited delay 12 shown in the Post. Ref. shaft and 1,750 shown in the Debit shaft. Fees Earned is reputationed delay 41 shown in the Post. Ref. shaft and 1,750 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Fees earned on aggregateity. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Revenue). Under Assets in the aggregateitying equation, a T aggregateity for Accounts Receivable is shown. The aggregateity calculate, 12, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Accounts Receivable T aggregateity, a December 16 initiation of 1,750 is shown. The Reputation shaft of the Accounts Receivable T aggregateity is broad. Under Owner's Equity (Revenue) in the aggregateitying equation, a T aggregateity for Fees Earned is shown. The aggregateity calculate, 41, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Fees Earned T aggregateity, a December 16 initiation of 1,750 is shown. The Debit shaft of the Fees Earned T aggregateity is broad.Enlarge ImageJournalizing and Posting to AccountsEnlarge ImageDynamic Exhibit 2-1Copystraight © Cengage Learning. All Rights ReservedExample Exercise 2-3

Journal Initiation for Fees Earned

Obj. 3

  1. Prepare a narrative initiation on August 7 for the fees earned on aggregateity, $115,000.
    Follow My Model 2-3
    Answer

Practice Exercises: PE 2-3A, PE 2-3B

A narrative initiation is shown. December 20 is the limit involved. Accounts Payable is debited delay 21 shown in the Post. Ref. shaft and 900 shown in the Debit shaft. Currency is reputationed—delay 11 shown in the Post. Ref. shaft and 900 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid reputationors on aggregateity. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity. Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 20 initiation of 900 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Liabilities in the aggregateitying equation, a T aggregateity for Accounts Payable is shown. The aggregateity calculate, 21, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Accounts Payable T aggregateity, a December 20 initiation of 900 is shown. The Reputation shaft of the Accounts Payable T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 21 is the limit involved. Currency is debited delay 11 shown in the Post. Ref. shaft and 650 shown in the Debit shaft. Accounts Receivable is reputationed delay 12 shown in the Post. Ref. shaft and 650 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Ordinary currency from customers on aggregateity. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity. Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Currency T aggregateity, a December 21 initiation of 650 is shown. The Reputation shaft of the Currency T aggregateity is broad. Under the Currency T aggregateity, a T aggregateity for Accounts Receivable is shown. The aggregateity calculate, 12, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Accounts Receivable T aggregateity, a December 21 initiation of 650 is shown. The Debit shaft of the Accounts Receivable T aggregateity is broad.Enlarge ImageJournalizing and Posting to AccountsEnlarge ImageA narrative initiation is shown. December 23 is the limit involved. Food is debited delay 14 shown in the Post. Ref. shaft and 1,450 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 1,450 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Purchased food. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity. Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 23 initiation of 1,450 is shown. The Debit shaft of the Currency T aggregateity is broad. Under the Currency T aggregateity, a T aggregateity for Food is shown. The aggregateity calculate, 14, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Food T aggregateity, a December 23 initiation of 1,450 is shown. The Reputation shaft of the Food T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 27 is the limit involved. Remuneration Charge is debited delay 51 shown in the Post. Ref. shaft and 1,200 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 1,200 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid two weeks' remuneration. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Expense). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 27 initiation of 1,200 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Owner's Equity (Expense) in the aggregateitying equation, a T aggregateity for Remuneration Charge is shown. The aggregateity calculate, 51, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Remuneration Charge T aggregateity, a December 27 initiation of 1,200 is shown. The Reputation shaft of the Remuneration Charge T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 31 is the limit involved. Utilities Charge is debited delay 54 shown in the Post. Ref. shaft and 310 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 310 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid telephone beak. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Expense). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 31 initiation of 310 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Owner's Equity (Expense) in the aggregateitying equation, a T aggregateity for Utilities Charge is shown. The aggregateity calculate, 54, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Utilities Charge T aggregateity, a December 31 initiation of 310 is shown. The Reputation shaft of the Utilities Charge T aggregateity is broad.Enlarge ImageA narrative initiation is shown on Page 4 of a narrative mould. December 3 is the limit involved in the Limit shaft. The year 2018 appears in weak symbol over the promise Dec. Utilities Charge is debited delay 54 shown in the Post. Ref. shaft and 225 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 225 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Paid electric beak.Enlarge ImageBelow the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Expense). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 31 initiation of 225 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Owner's Equity (Expense) in the aggregateitying equation, a T aggregateity for Utilities Charge is shown. The aggregateity calculate, 54, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Utilities Charge T aggregateity, a December 31 initiation of 225 is shown. The Reputation shaft of the Utilities Charge T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 31 is the limit involved. Currency is debited delay 11 shown in the Post. Ref. shaft and 2,870 shown in the Debit shaft. Fees Earned is reputationed delay 41 shown in the Post. Ref. shaft and 2,870 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Ordinary fees from customers. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Revenue). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Currency T aggregateity, a December 31 initiation of 2,870 is shown. The Reputation shaft of the Currency T aggregateity is broad. Under Owner's Equity (Revenue) in the aggregateitying equation, a T aggregateity for Fees Earned is shown. The aggregateity calculate, 41, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Fees Earned T aggregateity, a December 31 initiation of 2,870 is shown. The Debit shaft of the Fees Earned T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 31 is the limit involved. Accounts Receivable is debited delay 12 shown in the Post. Ref. shaft and 1,120 shown in the Debit shaft. Fees Earned is reputationed delay 41 shown in the Post. Ref. shaft and 1,120 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Fees earned on aggregateity. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Revenue). Under Assets in the aggregateitying equation, a T aggregateity for Accounts Receivable is shown. The aggregateity calculate, 12, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Accounts Receivable T aggregateity, a December 31 initiation of 1,120 is shown. The Reputation shaft of the Accounts Receivable T aggregateity is broad. Under Owner's Equity (Revenue) in the aggregateitying equation, a T aggregateity for Fees Earned is shown. The aggregateity calculate, 41, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Fees Earned T aggregateity, a December 31 initiation of 1,120 is shown. The Debit shaft of the Fees Earned T aggregateity is broad.Enlarge ImageA narrative initiation is shown. December 31 is the limit involved. Chris Clark, Drawing is debited delay 32 shown in the Post. Ref. shaft and 2,000 shown in the Debit shaft. Currency is reputationed delay 11 shown in the Post. Ref. shaft and 2,000 shown in the Reputation shaft. A narrative initiation explication is loving beneath the narrative initiation: Chris Clark delaydrew currency for peculiar use. Beneath the narrative mould, the aggregateitying equation collision is elucidated. The aggregateitying equation is shown: Assets equals Liabilities plus Owner's Equity (Drawing). Under Assets in the aggregateitying equation, a T aggregateity for Currency is shown. The aggregateity calculate, 11, is shown in the top-straight retreat of the T aggregateity. On the straight, in the Reputation shaft of the Currency T aggregateity, a December 31 initiation of 2,000 is shown. The Debit shaft of the Currency T aggregateity is broad. Under Owner's Equity (Drawing) in the aggregateitying equation, a T aggregateity for Chris Clark, Drawing is shown. The aggregateity calculate, 32, is shown in the top-straight retreat of the T aggregateity. On the left, in the Debit shaft of the Chris Clark, Drawing T aggregateity, a December 31 initiation of 2,000 is shown. The Reputation shaft of the Chris Clark, Drawing T aggregateity is broad.Enlarge ImageExample Exercise 2-4

Journal Initiation for Owner's Withdrawal

Obj. 3

  1. Prepare a narrative initiation on December 29 for the reimbursement of $12,000 to the possessor of Smartstaff Consulting Services, Dominique Walsh, for peculiar use.
    Follow My Model 2-4
    Answer

Practice Exercises: PE 2-4A, PE 2-4B

Exhibit 6 shows the December 31, 2018 ledger for NetSolutions succeeding the affairs for twain November and December bear been posted.

Exhibit 6

General Ledger for NetSolutions on December 31, 2018

Ten aggregateitys from NetSolutions' ledger are shown. The leading aggregateity shown is Cash. The aggregateity calculate, 11, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Nov. 1, Post. Ref. 1, Debit 25,000, Debit Poise 25,000. Nov. 5, Post. Ref. 1, Reputation 20,000, Debit Poise 5,000. Nov. 18, Post. Ref. 1, Debit 7,500, Debit Poise 12,500. Nov. 30, Post. Ref. 1, Reputation 3,650, Debit Poise 8,850. Nov. 30, Post Ref. 1, Reputation 950, Debit Poise 7,900. Nov. 30, Post. Ref. 2, Reputation 2,000, Debit Poise 5,900. Dec. 1, Post. Ref. 2, Reputation 2,400, Debit Poise 3,500. Dec. 1, Post. Ref. 2, Reputation 800, Debit Poise 2,700. Dec. 1, Post. Ref. 2, Debit 360, Debit Poise 3,060. Dec. 6, Post. Ref. 2, Reputation 180, Debit Poise 2,880. Dec. 11, Post. Ref. 2, Reputation 400, Debit Poise 2,480. Dec. 13, Post. Ref. 3, Reputation 950, Debit Poise 1,530. Dec. 16, Post. Ref. 3, Debit 3,100, Debit Poise 4,630. Dec. 20, Post. Ref. 3, Reputation 900, Debit Poise 3,730. Dec. 21, Post. Ref. 3, Debit 650, Debit Poise 4,380. Dec. 23, Post. Ref. 3, Reputation 1,450, Debit Poise 2,930. Dec. 27, Post. Ref. 3, Reputation 1,200, Debit Poise 1,730. Dec. 31, Post. Ref. 3, Reputation 310, Debit Poise 1,420. Dec. 31, Post. Ref. 4, Reputation 225, Debit Poise 1,195. Dec. 31, Post. Ref. 4, Debit 2,870, Debit Poise 4,065. Dec. 31, Post. Ref. 4, Reputation 2,000, Debit 2,065. The relieve aggregateity shown is Accounts Receivable. The aggregateity calculate, 12, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Dec. 16, Post. Ref. 3, Debit 1,750, Debit Poise 1,750. Dec. 21, Post. Ref. 3, Reputation 650, Debit Poise 1,100. Dec. 31, Post. Ref. 4, Debit 1,120, Debit Poise 2,220. The third aggregateity shown is Supplies. The aggregateity calculate, 14, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Nov. 10, Post. Ref. 1, Debit 1,350, Debit Poise 1,350. Nov. 30, Post. Ref. 1, Reputation 800, Debit Poise 550. Dec. 23, Post. Ref. 3, Debit 1,450, Debit Poise 2,000. The indelicateth aggregateity shown is Prepaid Insurance. The aggregateity calculate, 15, is in the top-straight retreat. The 2018 affair scheduleed is as follows: Dec. 1, Post. Ref. 2, Debit 2,400, Debit Poise 2,400. The fifth aggregateity shown is Land. The aggregateity calculate, 17, is in the top-straight retreat. The 2018 affair scheduleed is as follows: Nov. 5, Post. Ref. 1, Debit 20,000, Debit Poise 20,000. The sixth aggregateity shown is Employment Equipment. The aggregateity calculate, 18, is in the top-straight retreat. The 2018 affair scheduleed is as follows: Dec. 4, Post. Ref. 2, Debit 1,800, Debit Poise 1,800. The seventh aggregateity shown is Accounts Payable. The aggregateity calculate, 21, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Nov. 10, Post. Ref. 1, Reputation 1,350, Reputation Poise 1,350. Nov. 30, Post. Ref. 1, Debit 950, Reputation Poise 400. Dec. 4, Post. Ref. 2, Reputation 1,800, Reputation Poise 2,200. Dec. 11, Post. Ref. 2, Debit 400, Reputation Poise 1,800. Dec. 20, Post. Ref. 3, Debit 900, Reputation Poise 900. The eighth aggregateity shown is Unearned Rent. The aggregateity calculate, 23, is in the top-straight retreat. The 2018 affair scheduleed is as follows: Dec. 1, Post. Ref. 2, Reputation 360, Reputation Poise 360. The ninth aggregateity shown is Chris Clark, Capital. The aggregateity calculate, 31, is in the top-straight retreat. The 2018 affair scheduleed is as follows: Nov. 1, Post. Ref. 1, Reputation 25,000, Reputation Poise 25,000. The tenth aggregateity shown is Chris Clark, Drawing. The aggregateity calculate, 32, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Nov. 30, Post. Ref. 2, Debit 2,000, Debit Poise 2,000. Dec. 31, Post. Ref. 4, Debit 2,000, Debit Poise 4,000.Enlarge ImageSix aggregateitys from NetSolutions' ledger are shown. The leading aggregateity shown is Fees Earned. The aggregateity calculate, 41, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Nov. 18, Post. Ref. 1, Reputation 7,500, Reputation Poise 7,500. Dec. 16, Post. Ref. 3, Reputation 3,100, Reputation Poise 10,600. Dec. 16, Post. Ref. 3, Reputation 1,750, Reputation Poise 12,350. Dec. 31, Post. Ref. 4, Reputation 2,870, Reputation Balance, 15,220. Dec. 31, Post. Ref. 4, Reputation 1,120, Reputation Poise 16,340. The relieve aggregateity shown is Remuneration Expense. The aggregateity calculate, 51, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Nov. 30, Post. Ref. 1, Debit 2,125, Debit Poise 2,125. Dec. 13, Post. Ref. 3, Debit 950, Debit Poise 3,075. Dec. 27, Post. Ref 3, Debit 1,200, Debit Poise 4,275. The third aggregateity shown is Food Expense. The aggregateity calculate, 52, is in the top-straight retreat. The 2018 affair scheduleed is as follows: Nov. 30, Post. Ref. 1, Debit 800, Debit Poise 800. The indelicateth aggregateity shown is Schism Expense. The aggregateity calculate, 53, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Nov. 30, Post. Ref. 1, Debit 800, Debit Poise 800. Dec. 1, Post. Ref. 2, Debit 800, Debit Poise 1,600. The fifth aggregateity shown is Utilities Expense. The aggregateity calculate, 54, is in the top-straight retreat. The 2018 affairs are scheduleed as follows: Nov. 30, Post. Ref. 1, Debit 450, Debit Poise 450. Dec. 31, Post. Ref. 3, Debit 310, Debit Poise 760. Dec. 31, Post. Ref. 4, Debit 225, Debit Poise 985. The sixth aggregateity shown is Miscellaneous Expense. The aggregateity, calculate, 59, is in the top-straight retreat. The 2018 affairs scheduleed are as follows: Nov. 30, Post. Ref. 1, Debit 275, Debit Poise 275. Dec. 6, Post. Ref. 2, Debit 180, Debit Poise 455.Enlarge ImageExample Exercise 2-5

Missing Quantity from an Account

Obj. 3

  1. On March 1, the currency aggregateity poise was $22,350. During March, currency produce aggregateed $241,880, and the March 31 poise was $19,125. Determine the currency reimbursements made during March.
    Follow My Model 2-5
    AnswerUsing the subjoined T aggregateity, explain for the quantity of currency reimbursements (involved by ? ):

Practice Exercises: PE 2-5A, PE 2-5B

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