Business Finance
ACC502 Grand Canyon Elias Real Estate Appraisal Balance Sheet Paper

ACC502

Grand Canyon University

Question Description

Accounting.

From Horngren’s Accounting, The Financial Chapters

Complete the following exercises and problems in Excel:

  • P3-35A
  • P4-27A

Final Answer

Hello, please let me know if you need to understand anything. Also, let me know if you need assistance in future.Thanks

Date
Dec 31.

Arlington Air Purification System
Journal of Accounts
December 31, 2014
Accounts and Explanations
Unearned Revenue

Debit
1.100

Service Revenue
To record service revenue earned that was collected in advance
Dec 31.

Rent Expense

1.200

Prepaid Rent
To record amount or prepaid rent used
Dec 31.

Supplies Expense

600
Office Supplies

To record office supplies used
Dec 31.

Depreciation Expense - Equipment

900

Accumulated Depreciation - Equipment
To record depreciation of equipment in to expense
Dec 31.

Advertising Expense

900

Accounts Payable
To record advertising expense to be paid in January
Dec 31.

Salary Expense

900
Salaries Payable

To record salaries expense accured
Dec 31.

Accounts Recievable
Service Revenue
To record account for service performed on account

2.400

Credit
1.100

1.200

Cash
7.700
7.700

Bal.

Accounts Recievable
19.200
Dec. 31
2.400
Adj. Bal. 21.600

Accounts Payable

Unearned Revenue
Dec. 31
1.100

Salaries Payable
600

Adj. Bal.

Prepaid Rent
2.400 1.200 Dec. 31
1.200

900

900

Office Supplies
1.300
600 Dec. 31
Adj. Bal.
700

900
Bal.

2.400

Equipment
19.900
19.900

Accumulated Depreciation Equipment
4.300
900 Dec. 31
5.200 Adj. Bal.

Accounts Payab...

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