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value:63 points Dominick Lopez operates a consulting firm called Tech Today. On August 31, the company's records show the following accounts and...

This is a general accounting class. 4 questions please
4. value: 3.63 points Dominick Lopez operates a consulting firm called Tech Today. On August 31, the company’s records show the following accounts and amounts for the month of August. Use this information to prepare an August 31 balance sheet for Tech Today. (Be sure to list the assets and liabilities in order of their liquidity.Omit the "$" sign in your response.) Cash $ 8,500 D. Lopez, Withdrawals $ 4,200 Accounts receivable 17,800 Consulting fees earned 16,200 Office supplies 3,250 Rent expense 4,620 Land 49,000 Salaries expense 8,060 Office equipment 18,700 Telephone expense 730 Accounts payable 21,210 Miscellaneou s expense 350 D. Lopez, Capital, July 31 2,800 Owner investments 75,000 TECH TODAY Balance Sheet August 31 Assets $ Total Assets $ Liabilities $ Equity Total Liabilities & Equity $ check my work eBook Link View Hint #1 references Worksheet Difficulty: Hard Learning Objective: 02-P3 Prepare financial statements from business transactions. 5.
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value: 3.64 points Following are two income statements for Kendall Co. for the year ended December 31. The left column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. KENDALL CO. Income Statements For Year Ended December 31 Unadjusted Adjusted Revenues Fees earned $ 24,000 $ 30,000 Commissions earned 42,500 42,500 Total revenues 66,500 72,500 Expenses Depreciation expense— Computers 0 1,500 Depreciation expense— Office furniture 0 1,750 Salaries expense 12,500 14,950 Insurance expense 0 1,300 Rent expense 4,500 4,500 Office supplies expense 0 480 Advertising expense 3,000 3,000 Utilities expense 1,250 1,320 Total expenses 21,250 28,800 Net income $ 45,250 $ 43,700 Analyze the statements and prepare the eight adjusting entries that likely were recorded. ( Note : 30% of the $6,000 adjustment for Fees Earned has been earned but not billed, and the other 70% has been earned by performing services that were paid for in advance.) (Omit the "$" sign in your response.) Date General Journal Debit Credit Dec. 31 To record earned but unbilled fees.
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This question was asked on Jan 16, 2013.

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