Computer from Multi Systems, Inc

Start by reading and following these instructions:

1. Quickly skim the questions or assignment below and the assignment rubric to help you focus.

Don't use plagiarized sources. Get Your Custom Essay on
Computer from Multi Systems, Inc
Just from $10/Page
Order Essay

2. Read the required chapter(s) of the textbook.  Some answers may require you to do additional research on the Internet or in other reference sources.  Choose your sources carefully.

3. Consider the discussion and the any insights you gained from it.

4. Produce the Assignment submission in a single Microsoft Word or Open Office document.  Be sure to cite your sources, use APA style as required, check your spelling.

Assignment:

1. Open Kellog’s 2010 Annual Report. Find the balance sheet and calculate the following: How much did cash increase from 2009 to 2010?

a. Set up an expanded accounting equation spreadsheet using the following accounts:

 

 Assets  Liabilities Owner’s Equity
Cash

Supplies

Computer Shop

Equipment

Office Equipment

Accounts Payable Freedman, Capital

Freedman, Withdrawal

Service Revenue

Expenses (notate type)

 

b. Analyze and record each transaction in the expanded accounting equation.

c. Prepare the financial statements ending July 31 for Sanchez Computer Center.

2. On July 1, 201X, Tony Freedman decided to begin his own computer service business. He named the business the Sanchez Computer Center. During the first month Tony conducted the following business transactions. Record them into the basic accounting equation.

a.   Invested $4,500 of his savings into the business.

b.   Paid $1,200 (check #8095) for the computer from Multi Systems, Inc.

c.   Paid $600 (check #8096) for office equipment from Office Furniture, Inc.

d.   Set up a new account with Office Depot and purchased $250 in office supplies on credit.

e.   Paid July rent, $400 (check #8097).

f.    Repaired a system for a customer and collected $250.

g.   Collected $200 for system upgrade labor charge from a customer.

h.   Electric bill due but unpaid, $85.

i.    Collected $1,200 for services performed on Taylor Golf computers.

j.    Withdrew $100 (check #8098) to take his wife, Carol, out in celebration of opening the new business.

3. Mike Ackerman decided to open Mike’s Nail Spa. Mike completed the following transactions. Record them into the basic accounting equation.

a. Invested $24,000 cash from his personal bank account into the business.

b. Bought store equipment for cash, $3,700.

c. Bought additional store equipment on account, $6,100.

d. Paid $900 cash to partially reduce what was owed from transaction c.

4. From the following account balances, prepare in proper form for September (a) an income statement, (b) a statement of owner’s equity, and (c) a balance sheet for Frechette Realty.

 

Cash                                                       $7,050          S. Frechette, Withdrawals      $800

Accounts Receivable                               1,060          Professional Fees                 4,000

Office Equipment                                     6,700          Salaries Expense                    400

Accounts Payable                                    2,000          Utilities Expense                      360

S. Frechette, Capital, September 1, 201X 10,770        Rent Expense                          400

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Open chat
1
You can contact our live agent via WhatsApp! Via +1 817 953 0426

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 30% with the discount code STARS