AutoSave O Of MGT120 Excel Assignment P Search Hania File Home Insert Page Layout Formulas Data Review View Help Insert 10 A A 三三=シ、 General Arial X Delete v Paste Conditional Format as Cell Sort & Find & BIU $、%9留8 Formatting Table Styles Format Filter Select Clipboard Font Alignment Number Styles Cells Editing Y1 fr E F G H J KLM R S T. U V W 9 June 30: Accrued $1750 in employee salaries. Employees are paid on the first day of each month. June 30: A count revealed that $350 worth of supplies are still on hand. 2 Other Information: 3 1) In the past, Little Black Dog Inc. has used the following accounts on their income statement: Revenue, Depreciation Expense, Supplies Expense, Interest Expense, Rent Expense, Salaries Expense, Advertising Expense, and Supplies Expense. They use the Dividends account to record dividends. Not all accounts have been used each period. 4 5 7 Required: 1) Create all necessary journal entries for the month of June 2021. Place your answer under "Requirement 1" in the "Answer" tab. Note that the dates have been pre-populated. Ensure your journal entries match the appropriate date. Explanations are not required. 8 2) Analyze the effects of the above transactions on the accounting equation. Place your answer under "Requirement 2" in tre "Answer" tab. 3) Prepare the Income Statement for the month ended June 30, 2021. List expenses in decreasing order by amount. Place your answer under "Requirement 3" in the "Answer" tab.
AutoSave O Of MGT120 Excel Assignment P Search Hania File Home Insert Page Layout Formulas Data Review View Help Insert 10 A A 三三=シ、 General Arial X Delete v Paste Conditional Format as Cell Sort & Find & BIU $、%9留8 Formatting Table Styles Format Filter Select Clipboard Font Alignment Number Styles Cells Editing Y1 fr E F G H J KLM R S T. U V W 9 June 30: Accrued $1750 in employee salaries. Employees are paid on the first day of each month. June 30: A count revealed that $350 worth of supplies are still on hand. 2 Other Information: 3 1) In the past, Little Black Dog Inc. has used the following accounts on their income statement: Revenue, Depreciation Expense, Supplies Expense, Interest Expense, Rent Expense, Salaries Expense, Advertising Expense, and Supplies Expense. They use the Dividends account to record dividends. Not all accounts have been used each period. 4 5 7 Required: 1) Create all necessary journal entries for the month of June 2021. Place your answer under "Requirement 1" in the "Answer" tab. Note that the dates have been pre-populated. Ensure your journal entries match the appropriate date. Explanations are not required. 8 2) Analyze the effects of the above transactions on the accounting equation. Place your answer under "Requirement 2" in tre "Answer" tab. 3) Prepare the Income Statement for the month ended June 30, 2021. List expenses in decreasing order by amount. Place your answer under "Requirement 3" in the "Answer" tab.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 84.1C
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