Accounting Financial And Income Statement Assignment Homework Help
Best UK USA UAE Australia Canada China Accounting Financial And Income Statement Assignment Homework Help Service Online
Eric Chan operates cleaning and gardening business. Mr. Eric contributed $500,000 on 1 June 2015 into his business. The following transactions occurred in the month of June. Ignore GST.
June 1 Eric purchased a car for the business for a total cost of $60,000. The useful life was expected to be 12 years with a residual value of $3,000. Insurance for the car was also purchased for $12,000 p.a.
1 Eric signed a lease agreement to lease a suitable storage shed for a monthly rental of $12,000. Rent for 4 months was paid in advance. He also hired an assistant to help him with cleaning and lawn mowing tasks.
2 The business purchased equipment for a total cost of $180,250. A deposit of $40,000 was paid immediately and the balance was to be paid in 30 days. The equipment was expected to have a useful life of 7 years.
3 Purchased washing supplies for $4,800 cash. Purchased fuel and oil supplies for cash $7,900.
4 Signed a contract with Gulshan Advertiser Newspaper for 12 weeks of advertisements in its weekly newspaper. The business paid $9,600 in advance for these advertisements.
6 Received cash of $800 and $13,500 from clients for cleaning and law mowing services respectively.
8 Signed a contract with a new client to provide cleaning services for a monthly fee of $20,000. The client paid for 3 months’ service in advance.
13 Received cash of $14,000 for lawn mowing services provided to clients during the past week.
14 Paid the assistant wages of $8,200 for services provided to the business during the past fortnight.
21 Earned $7,300 for cleaning services from clients and $12,700 for lawn mowing during the past week. All money was received in cash except for one client for cleaning services, who arranged to pay the business $3,000 in 3 weeks’ time for service rendered.
28 Received in cash the sum of $8,000 for cleaning services provided to clients and $11,500 for lawn mowing and gardening services provided during the past week.
29 Paid the assistant $7,600 for services provided to the business during the past fortnight.
30 Eric withdrew $20,000 in cash from the business in order to pay for essential provisions for his family.
Additional information to consider
1. Cleaning services of $2,500 had been rendered to clients on 29 June but the invoice to bill these clients had not been prepared.
2. Four weeks of advertisements had appeared in the newspaper up to 30 June.
3. The business had provided cleaning services to its new client for 3 weeks of the first month (assumed to be 4 weeks long).
4. A physical count showed that only $1,200 of washing supplies and $3,400 of fuel and oil supplies were still on hand.
5. Wages owing to the assistant on 30 June amounted to $2,800.
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to email@example.com
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email firstname.lastname@example.org should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to email@example.com and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
A. Prepare journal entries to record the June 2015 transactions for the business and post these journal entries to suitable T accounts.
B. Prepare an unadjusted trial balance as at 30 June 2015 .
C. Prepare a 10-column work sheet for the month ended 30 June 2015 considering all additional information and any other adjustments necessary.
D. Prepare the income statement, the statement of changes in equity and the balance sheet as at 30 June 2015.
E. Prepare closing entry and the suitable reversing entry .
F. Comment on the financial position of the business based on your prepared financial statements.
Product Code: ACC595
Looking for Accounting Financial And Income Statement Assignment Homework Help , please submit your details here with product code mentioned above.