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Homework 4 Chapter 2

Homework 4 Chapter 2 - 1 For the company you selected...

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The University of Texas at Austin McCombs School of Business ACC 310F: Foundations of Accounting Homework #4 Once you have completed the assignment below, you must enter your answers in the Assignments section of Blackboard on the answer sheet provided; not all homework answers will be turned in. Your answer sheet is due by 8am on Monday, October 20, 2008; print or save your conformation page to verify that your assignment was successfully submitted. If you have any clarification questions about the assignment, please post a note on the ACC 310F Class Q&A Discussion Board located in the Communication section of Blackboard.
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Unformatted text preview: 1. For the company you selected, prepare a journal entry for each transaction using the following accounts as needed: Cash Rental Revenue Buildings Misc. Revenue Property Rent Expense Note Payable Misc. Expense Capital Withdrawals 2. Prepare and post your journal entries to ledger accounts for each year. 3. Prepare an income statement, statement of owners’ equity and balance sheet for each year. 4. Briefly comment on your company’s results. 5. Briefly describe two changes (other than rolling the dice better!) that could help improve your company’s future performance....
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