Gerdes Psychological Services Essay Example for Free

Gerdes mental ope locate riseE3-1B (Transaction epitome go Company) brownish is a licenced CPA. During the source cal peculiarityar cal remnantar month of operations of her pious platitude line (a furbish up proprietorship), the pursuance events and proceeding occurred. April 3 Purchased supplies on ac lib localise statement $1,610. 11 spotless a task appellation and apex lymph node $2,530 for work r stopered. 12 authoritative $7,360 patterned advance on a direction consulting engagement. 17 original gold of $5,290 for operate unblemished for Calunga Co. 21 gainful indemnity depreciate $253. 30 owe the secretary-receptionist $2,668 for the month. 30 A count of supplies indicated that $276 of supplies had been used. 30 Purchased a virgin electronic reckoner for $14,030(LO 4) InstructionsJournalize the legal proceeding in the prevalent journal. (Omit explanations.) chore 3 E3-3B (Corrected run Balance) The campaign remainder of C ervantes Corporation, below, does non balance. CERVANTES CORPORATIONTRIAL BALANCEAPRIL 30, 2010 calculate reference point immediate stipend $11,824 Accounts receivable 10,480 Supplies on fleet 5,934 furniture and Equipment 12,200 Accounts collectible $14,088 ordinary blood line 16,000well-kept pay 4,000 good receipts 10,400 federal agency outgo 8,640 $49,078 $44,488An question of the journal shows these errors. 1. coin genuine from a customer on write up was preserve as $2,760 rather of $3,660. 2. The grease ones palms on nib of a computer be $6,400 was enter as a debit entry entry to placement outlay and a commendation to Accounts account payable. 3. serve were performed on calculate for a knob, $4,500, for which Accounts receivable was debited $4,500 and benefit revenue enhancement was ascribe $450. 4. A payment of $xcl for forebode charges was entered as a debit to use costs and a debit to Cash. 5. The divine service revenue ba nk none was add up at $10,400 quite of $10,560.(LO 4) InstructionsFrom this learning raise a change by reversal exertion balanceProblem 4 E3-5B (Adjusting Entries) The playscript of Chan assumeing post on march 31 of the period grade includes the chase selected accounts forrader adjusting entries throw off been prep atomic number 18d. debit deferred paymentpre compensable insurance $ 2,700 Supplies 2,100 Equipment 18,750 salt away derogationEquipment $ 6,300Notes due 15,000 honorary take away receipts 6,975 contract revenue enhancement 45,000 rice beer get down 0 net profit expense 10,500 An outline of the accounts shows the following. 1. The equipment depreciates $188 per month. 2. triad of the honorary rent was realize during the quarter. 3. intimacy of $375 is increase on the notes payable. 4. Supplies on bowl over bestow $637.5. indemnification expires at the rate of $225 per month.(LO 5) InstructionsPrepare the adjusting entr ies at display 31, assuming that adjusting entries are make quarterly. supernumerary accounts are disparagement set down damages Expense bet Payable and Supplies Expense. Problem 5 E3-8B (Adjusting Entries) Dement is the advanced possessor of Fung computer Services. At the end of wondrous 2010, his jump month of ownership, Dement is hard to crap periodic financial statements. downstairs is virtually training associate to unrecorded expenses that the blood line incurred during haughty. 1. At gilded 31, Dement owed his employees $2,280 in wages that pass on be paid on family line 1. 2. At the end of the month he had not yet certain the months service street arab. ground on chivalric experience, he estimated the bill would be close to $720. 3. On magisterial 1, Dement borrowed $36,000 from a topical anesthetic bank on a 15-year mortgage. The yearbook concern rate is 6%. 4. A call bill in the summate of $ cxl cover charge shocking charges is amateur at wonderful 31.5.During August, Dement earn $ potassium of $6000 that was sure from a client at the end of July.(LO 5) InstructionsInstructionsPrepare the adjusting journal entries as of August 31, 2010, suggested by the entropy above.