The Case of Sams Company

Prepare journal entries in the Excel Template provided for you. Be sure all dates agree with the problem and are not today’s date: For 6/1/2015: Deposit $150,000 to Cash For the description, write: Initial deposit from owner For 6/3/2015: Buys for cash furniture and equipment from Weiss for $50,000. For the description, write: For furniture and equipment from Weiss For 6/10/2015: Deposit the amount of $40,000 from Pat B for Consulting Revenue For the description, write: Work completed on 6/10/15 for Pat B For 6/20/2015: Pay Wans for $5,000 for purchase of supplies For the description, write: For purchase of supplies from Wansi For 6/30/2015: Deposit the amount of $120,000 from Bill Mak for Consulting Revenue For the description, write: Work completed on 6/30/2015 for Bill Mak For 6/30/2015: Pay #1 Employee $3,000 For the description, write: Payroll expense to #1 Employee for month of June 2015
act300_ct5_template.xlsx

week_5_homework.docx

Don't use plagiarized sources. Get Your Custom Essay on
The Case of Sams Company
Just from $13/Page
Order Essay

Unformatted Attachment Preview

Chart of Accounts
100
101
102
103
104
105
200
201
202
300
301
400
401
500
501
502
503
504
600
Cash
Accounts Receivable
Inventory-Supplies
Office Supplies
Construction In Progress
Furniture & Equipment
Accounts Payable
Loan-ABC
Loan-KYS
Capital
Owner Investment
Sales Revenue
Consulting Revenue
Payroll Expense
Rent Expense
Telephone Expense
Freight Expenses
Utilities Expense
Cost of Merchandise Sold
(Assume Money Market is Cash)
Transaction
Number,
Transaction Letter
or Date
1-Jun
3-Jun
10-Jun
20-Jun
30-Jun
30-Jun
Account Name
Debit
Credit
Transaction
Number,
Transaction Letter
or Date
1-May
2-May
5-May
11-May
15-May
19-May
23-May
31-May
Account Name
Debit
Credit
Option #1: The Case of Sam’s Company
Prepare journal entries in the Excel Template provided for you. Be sure all dates agree with the
problem and are not today’s date:
For 6/1/2015:
•
•
Deposit $150,000 to Cash
For the description, write: Initial deposit from owner
For 6/3/2015:
•
•
Buys for cash furniture and equipment from Weiss for $50,000.
For the description, write: For furniture and equipment from Weiss
For 6/10/2015:
•
•
Deposit the amount of $40,000 from Pat B for Consulting Revenue
For the description, write: Work completed on 6/10/15 for Pat B
For 6/20/2015:
•
•
Pay Wans for $5,000 for purchase of supplies
For the description, write: For purchase of supplies from Wansi
For 6/30/2015:
•
•
Deposit the amount of $120,000 from Bill Mak for Consulting Revenue
For the description, write: Work completed on 6/30/2015 for Bill Mak
For 6/30/2015:
•
•
Pay #1 Employee $3,000
For the description, write: Payroll expense to #1 Employee for month of June 2015
Option #2: The Case of Barbara’s Company
Prepare journal entries. Be sure all dates agree with the problem and are not today’s date
For 5/1/2015:
•
•
Deposit $5,000 to Cash for opening equity
For the description, write: Initial deposit from Barbara, the owner
For 5/2/2015:
•
•
Deposit into bank money market of $1,000 from a loan
For the description, write: Cash In from Loan from ABC Bank
For 5/5/2015:
•
•
Deposit to bank, money market of $20,000 from Barbara
For the description, write: : Additional equity contribution from Barbara.
For 5/11/2015:
•
•
Deposit of $40,000 from KYS Bank from a loan
For the description, write: Cash In from Loan from KYS bank
For 5/15/2015:
•
•
Pay Levine $3,000 for the purchase of office supplies
For the description, write: For purchase of office supplies from Levine
For 5/19/2015:
•
•
Received Consulting income of $20,000 from Anne
For the description, write: Work completed on 5/19/2015 for Anne
For 5/23/2015:
•
•
Pay Rachel, new employee $5,000
For the description, write: Payroll expense to Rachel for month of May 2015
For 5/31/2015:
•
•
Pay Ruth, new Employee $4,000
For the description, write: Payroll expense to Ruth for month of May 2015

Purchase answer to see full
attachment

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

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

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

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

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

Order your essay today and save 15% with the discount code ESSAYHELP