acc225 problem_2_2a

Apr 17th, 2015
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Adelphi University
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Hi there.This document contains A+ work for the course ACC 225.I am sure that this work will not disappoint you.This document will give you the correct answers to the respective questions about the particular course.

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Shelton EngineeringGeneral JournalDateDescriptionP.R.(a)CashOffice EquipmentDrafting EquipmentS. Shelton, Capital101163164301DebitPage: 1Credit105,0006,00045,000156,000-To record initial investment(b)LandCashNotes Payable17210125054,0005,40048,600-To record purchase of land(c.)BuildingCash17010175,00075,000-To record purchase of portable building(d)Prepaid InsuranceCash1081016,0006,000-To record payment of insurance policy for 18 months(e)Cash101Engineering Fees Earned4025,7005,700-To record engineering fees earned(f)Drafting EquipmentCashNotes Payable16410125022,50010,50012,000-To record purchase of drafting equipment(g)Accounts Receivable10612,000Engineering Fees Earned40212,000-To record engineering fees earned(h)Office EquipmentAccounts Payable1632012,2502,250-To record purchase of office equipment on account(i)Accounts Receivable106Engineering Fees Earned40218,00018,000-To record engineering fees earned(j)Equipment Rental ExpenseAccounts Payable6022011,2001,200-To record receipt of billing for equipmernt rental(k)CashAccounts Receivable1011067,2007,200-To record receipt of customer's partial payment of account(l)Wages ExpenseCash6011011,5001,500-To record payment of wage of the drafting assistant(m)Account PayableCash2011012,2502,250-To record settlement of liability for the equipmen

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