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Posted by: Homeworkhelp
Price Quoted by Student: $5
Posted On: 2010-09-12 02:02:58
 
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XACC 280 XACC 280 Week 2 P2-2A Jane Kent is a licensed CPA. During the first month of operations of her business, Jane Kent,


Financial Accounting Concepts and Principles: Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ:  Wiley.

Axia College of University of Phoenix (UoP)


XACC 280 Week 2


2. Assignment: Journalizing, Posting and Preparing a Trial Balance

Complete P2-2A on p. 81 of Financial Accounting, using the templates in Appendix C for your answers. Each part of the problem corresponds to one tab in Appendix C. Complete all three tabs of

Appendix C.


P2-2A Jane Kent is a licensed CPA. During the first month of operations of her business, Jane Kent,

Inc., the following events and transactions occurred. May 1 Stockholders invested $25,000 cash in exchange for common stock. 2 Hired a secretary-receptionist at a salary of $2,000 per month. 3

Purchased $2,500 of supplies on account from Read Supply Company. 7 Paid office rent of $900 cash for the month. 11 Completed a tax assignment and billed client $2,100 for services provided. 12 Received $3,500 advance on a management consulting engagement. 17 Received cash of $1,200 for services completed for H. Arnold Co. 31 Paid secretary-receptionist $2,000 salary for the month. 31 Paid 40% of balance due Read Supply Company. Jane uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies,No. 201 Accounts Payable,No. 205 Unearned Revenue,No. 311 Common Stock,No. 400 Service Revenue, No. 726 Salaries Expense, and No. 729 Rent Expense


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Please see the excel attachment
Price $5
Attachment 1: P2-2A Jane Kent.xls
Solution Posted By: Homeworkhelp    Posted on: 12-09-2010