# Accounting Basics : Preparation of tabular analysis

Document Sample

```					              Sub: Accounts                                                               Topic: Finacial Accounting

Question:
Preparation of journal entries and tabular analysis of various financial
transactions of travel agency.

ClassOf1 provides expert guidance to College, Graduate, and High school students on homework and assignment problems in
Math, Sciences, Finance, Marketing, Statistics, Economics, Engineering, and many other subjects.

On April 1 Far and Wide Travel Agency Inc. was established. These transactions were completed
during the month.

1. Stockholders invested \$20,000 cash in the company in exchange for common stock.
2. Paid \$900 cash for April office rent.
3. Purchased office equipment for \$2,800 cash.
4. Purchased \$200 of advertising in the Chicago Tribune, on account.
5. Paid \$500 cash for office supplies.
6. Earned \$9,000 for services provided: Cash of \$1,000 is received from customers, and the
balance of \$8,000 is billed to customers on account.
7. Paid \$400 cash dividends.
8. Paid Chicago Tribune amount due in transaction (4).
9. Paid employees’ salaries \$1,200.
10. Received \$8,000 in cash from customers who have previously been billed in transaction
(6).
Instruction

a) Prepare a tabular analysis of the transactions using these column headings: Cash,
Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock,

www.classof1.com

*The Homework solutions from ClassOf1 are intended to help the student understand the approach to solving the problem and not for submitting the same in

```
DOCUMENT INFO
Shared By:
Categories:
Stats:
 views: 5607 posted: 3/23/2010 language: English pages: 6
Description: Prepare a tabular analysis of transactions : On April 1 Far and Wide Travel Agency Inc. was established. These transactions were completed during the month
BUY THIS DOCUMENT NOW PRICE: \$25 100% MONEY BACK GUARANTEED
PARTNER
Classof1 is a supplemental education company providing comprehensive online tutoring, homework guidance, and e-learning courseware development services to the school, college, and university student communities. As a part of its endeavor to help students around the world to excel in their studies, Classof1 has built a repository of self-study guides with step-by-step solutions and lucid explanations. These guides have been created and whetted by expert tutors with several years of experience in education. Apart from Docstoc.com, these self-help guides are also available at Classof1’s Solution Library (http://classof1.com/solution-library). Please visit www.classof1.com for further information.