...NAME: CLASS ACC206: PRINCIPLES OF ACCOUNTING 11 WEEK 4: WEEK FIVE PROBLEMS PROFESSOR: ANGELA SNEED DATE: 07/05/2012. Week Five Problems Chapter 22, E 22-19 Chapter 22, P 22-22A Chapter 23, P 23-28A E22-19 Preparing a financial budget Consider the following June actual ending balances and July 31, 2012, Budgeted amounts for Oleans.com: a. June 30 inventory balance, $17,750 b. July payments for inventory, $4,300 c. July payments of accounts payable and accrued liabilities, $8,200 d. June 30 accounts payable balance, $10,600 e. June 30 furniture and fixtures balance, $34,500; accumulated depreciation balance, $29,830 f. June 30 equity, $28,360 g. July depreciation expense, $900 h. Cost of goods sold, 50% of sales i. Other July expenses, including income tax, total $6,000, paid in cash j. June 30 cash balance, $11,400 k. July Budgeted credit sales, $12,700 l. June 30 accounts receivable balance, $5,140 m. July cash receipts, $14,200 Requirement 1. Prepare a budgeted balance sheet. E 22-19 Requisition. 1 | Cash + | Accounts receivable+ | Inventory+ | Furniture+ | (Accum. Deprec.) | = | Accounts payable + | Stockholders’ equity | June 30 balance | J)$11,400 | l)$5,140 | A)$17,750 | E)$34,500 | E)$(29,830) | = | D)$10,600 | F)$28,360 | Payments for inventory | B)(4,300) | | 4,300 | | | = | | | Payments on account | (8,200) | | | | | = | C)(8,200) | | Depreciation | | | | | G)(900) | = | | (900)...
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...2012 Catalog Volume 20 Issue 1 March 5, 2012 – December 31, 2012 This Catalog contains information, policies, procedures, regulations and requirements that were correct at the time of publication and are subject to the terms and conditions of the Enrollment Agreement entered into between the Student and ECPI University. In keeping with the educational mission of the University, the information, policies, procedures, regulations and requirements contained herein are continually being reviewed, changed and updated. Consequently, this document cannot be considered binding. Students are responsible for keeping informed of official policies and meeting all relevant requirements. When required changes to the Catalog occur, they will be communicated through catalog inserts and other means until a revised edition of the Catalog is published. The policies in this Catalog have been approved under the authority of the ECPI University Board of Trustees and, therefore, constitute official University policy. Students should become familiar with the policies in this Catalog. These policies outline both student rights and student responsibilities. The University reserves the right and authority at any time to alter any or all of the statements contained herein, to modify the requirements for admission and graduation, to change or discontinue programs of study, to amend any regulation or policy affecting the student body, to increase tuition and fees, to deny admission, to revoke an offer...
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...OFFICIAL CATALOG This Catalog contains information, policies, procedures, regulations and requirements that were correct at the time of publication and are subject to the terms and conditions of the Enrollment Agreement entered into between the Student and ECPI University. In keeping with the educational mission of the University, the information, policies, procedures, regulations and requirements contained herein are continually being reviewed, changed and updated. Consequently, this document cannot be considered binding. Students are responsible for keeping informed of official policies and meeting all relevant requirements. When required changes to the Catalog occur, they will be communicated through catalog inserts and other means until a revised edition of the Catalog is published. The policies in this Catalog have been approved under the authority of the ECPI University Board of Trustees and, therefore, constitute official University policy. Students should become familiar with the policies in this Catalog. These policies outline both student rights and student responsibilities. The University reserves the right and authority at any time to alter any or all of the statements contained herein, to modify the requirements for admission and graduation, to change or discontinue programs of study, to amend any regulation or policy affecting the student body, to increase tuition and fees, to deny admission, to revoke an offer of admission and to dismiss from the...
Words: 149595 - Pages: 599
