How do I prepare a post-closing trial balance only? Part F ONLY.

ACC 111
Accounting Cycle Review

Jannero Pargo opened Pargo's Cleaning Service on July 1, 2017. During July the following transactions were completed.
July 1 Pargo invested $20,000 cash in the business.
1 Purchased used truck for $9,000, paying $4,000 cash and the balance on account.
3 Purchased cleaning supplies for $2,100 on account.
5 Paid $1,800 cash on one-year insurance policy effective July 1.
12 Billed customers $4,500 for cleaning services.
18 Paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies.
20 Paid $2,500 cash for employee salaries.
21 Collected $3,400 cash from customers billed on July 12.
25 Billed customers $6,000 for cleaning services.
31 Paid gasoline for month on truck $350.
31 Withdraw $5,600 cash for personal use.

The chart of accounts for Pargo's Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 128 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation—Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 301 Owner's Capital, No. 306 Owner's Drawings, No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gasoline Expense, No. 634 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense.
Instructions
(a) Journalize and post the July transactions. Use page J1 for the journal and the three-column form of account.
(b) Prepare a trial balance at July 31.
Check figure: Trial balance $34,700
(c) Journalize and post the following adjusting entries.

1. Services provided but unbilled and uncollected at July 31 were $2,700.
2. Depreciation on equipment for the month was $500.
3. One-twelfth of the insurance expired.
4. An inventory count shows $600 of cleaning supplies on hand at July 31.
5. Accrued but unpaid employee salaries were $1,000.

Check figure - Adjusted trial balance $38,900
(d) Prepare the income statement and owner's equity statement for July and a classified balance sheet at July 31.
Check figures: Net income $7,200;
Total assets $26,800

(e) Journalize and post closing entries and complete the closing process. Use page J3 for the journal.
(f) Prepare a post-closing trial balance at July 31.
Check figure: Post-closing trial balance $27,300

You are working for The Wellington Company on temporary assignment while one of the accountants is on family leave. You have been asked to review the company’s investment

The balance sheet caption used to report long-term investments in stocks not intended as a source of cash in the normal operations of the business.

journal entries and provide necessary information to the accountant preparing the financial statements.

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JOURNAL

On October 1, 2018, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business:

Enter the following transactions on Page 2 of the two-column journal:

Required:

1. Journalize and insert the posting references for each transaction in a two-column journal beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. For a compound transaction, if an amount box does not require an entry, leave it blank.

2. Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in the general journal as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. If an amount box does not require an entry, leave it blank.

3. Prepare an unadjusted trial balance for Intrex Designs as of October 31, 2018. List all accounts in the order of Assets, Liabilities, Stockholders’ equity, Revenues, and Expenses.For those boxes in which no entry is required, leave the box blank. The first two account titles are filled in as an example.

4. Determine the excess of revenues over expenses for October.
$

5. Why the amount determined in above might not be the net income for October?

1. Because the dividends are declared but not paid
2. Because the cash balance is incorrect.
3. Because the closing inventory balance is missing
4. Because necessary adjustment to expenses, like depreciation has not been made.

“In the model organism E. coli, recombination mediated by the related XerC and XerD recombinases complexed with the FtsK translocase at specialized dif sites, resolves dimeric chromosomes into free monomers to allow efficient chromosome segregation at cell division. Computational genome analysis of Helicobacter pylori, a slow growing gastric pathogen, identified just one chromosomal xer gene (xerH) and its cognate dif site (difH). Here we show that recombination between directly repeated difH sites requires XerH, FtsK but not XerT, the TnPZ transposon associated recombinase. xerH inactivation was not lethal, but resulted in increased DNA per cell, suggesting defective chromosome segregation. The xerH mutant also failed to colonize mice, and was more susceptible to UV and ciprofloxacin, which induce DNA breakage, and thereby recombination and chromosome dimer formation. xerH inactivation and overexpression each led to a DNA segregation defect, suggesting a role for Xer recombination in regulation of replication. In addition to chromosome dimer resolution and based on the absence of genes for topoisomerase IV (parC, parE) in H. pylori, we speculate that XerH may contribute to chromosome decatenation, although possible involvement of H. pylori's DNA gyrase and topoisomerase III homologue are also considered. Further analyses of this system should contribute to general understanding of and possibly therapy development for H. pylori, which causes peptic ulcers and gastric cancer; for the closely related, diarrheagenic Campylobacter species; and for unrelated slow growing pathogens that lack topoisomerase IV, such as Mycobacterium tuberculosis.”

article: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC332523

What is one intrinsic problem with circular DNA molecules during homologous recombination? How does this effect cell division?

Bacteria with circular chromosomes typically contain site-specific tyrosine Xer recombinases and dif sites. Why are these recombinases and dif sites important to the bacterial cell?

Briefly explain how the XerC and XerD recombinases function in E.coli.

How does the H.pylori Xer recombinase system differ from the E.coli system? How is it similar?

E.coli typically removes topological links between concatenated DNA by using topoisomerase IV. H. pylori seems to lack topoisomerase IV. If this is the case, how does H. pylori deal with circular DNA dimers and/or multimers?

Your client is in big trouble. He owes $1.3 million to IRS for the year ended December 31, 2017. He won a lawsuit on June 1, 2016 in the amount of $5 million and lost almost everything in day trading. He just forgot to pay taxes on his winning of law suit. He is married and has three children-16 years, 12 years and 11 years old. He makes $3,333 per month. H had $439 in his bank account. He has two credit cards (1) Credit limit $18500, amount owed 8,592 (2) Credit limit 7,500 amount owed $6,247. He owns two cars (1) 2006 Nissan Quest, miles 85,000 (2) 2007 Maxima miles 87,000. He has clear title to these cars. He owns a house in Kingwood Texas –purchase price $217,000 date acquired 02/01/01 current value 210,000 loan balance 177,395 monthly payments $1,585. There are quite a few homes on sale in his neighborhood.

Question: what statement of laws that we can apply and discuss that laws

A 75-year-old patient at a licensed healthcare provider care center suffered from diabetes, dementia, coronary artery disease, immobile decubitus ulcers (bedsores), and was unable to walk, talk, or feed herself. Her physician prescribed a daily whirlpool bath as a medical treatment for the decubitus ulcers. The facility did not have a whirlpool, so she was given a regular daily bath. A certified nursing assistant prepared a bath for the patient and placed her in hot water that was 138 degrees and that subsequently caused severe burns from which she died three days later. A wrongful death action was brought. Parties settled before trial for $1.5 million. Source: Strine v. Commonwealth of Pennsylvania, et al., 894 A.2d 733 (Pa. 2006). Although the vignette is based on this case, do not consult the case for additional facts. Answer each question based on the facts presented in the vignette. Are all of the elements of negligence present in this case? Discuss the breaches of the standard of care. How could the patient’s death have been prevented? How could a safer environment have been provided as it relates to caring and communication? Does the apology statute apply to this case? Yes or No? Why?

1. Under which President's administration were there multiple years of the federal budget running a surplus?

Richard Nixon (1969-74)

Ronald Reagan (1981-89)

Bill Clinton (1993-2001)

George W. Bush (2001-09)

2. In the March/April 2013 issue of Dollars and Sense, Gerald Friedman shows that the increases in the federal deficit during the G. W. Bush (Bush 2) and B. Obama administrations was primarily due to:

the Wall Street bailout.

decreases in federal revenue.

increased federal spending on the stimulus.

A and C.

3. Which of the following is NOT part of Gerald Friedman's Progressive Tax-Reform Agenda?

Elimination of Federal Income Tax on income below the Poverty Line.

Elimination of the exemption from the Social Security payroll tax of income above $118,500.

Taxing capital gains at the same rate as earned income

. Restoration of a tax on financial transactions.

4. Which is not part of the "Golden Straightjacket?"

Privatize pensions

Increase research and development

funding Reduce corruption

Privatize state-owned enterprises

5. Ha-Joon Chang argues that modern developed countries usually achieved their high level of development by practicing:

Most of the prescriptions in the Golden Straightjacket.

Most of the policy prescriptions known as the Washington Consensus.

Protectionism.

All of the above.

My topic is Netflix

II. Explore the supply and demand conditions for your firm’s product.

a) Evaluate trends in demand over time and explain their impact on the industry and the firm. You should consider including annual sales figures for the product your firm sells.

b) Analyze information and data related to the demand and supply for your firm’s product(s) to support your recommendation for the firm’s actions. Remember to include a graphical representation of the data and information used in your analysis.

III. Examine the price elasticity of demand for the product(s) your firm sells.

a) Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity of demand for your firm’s product.

b) Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your guide.

c) Assess how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth

References:

DATAMONITOR: Netflix, Inc. (2010). Netflix Inc. SWOT Analysis, 1–9

Lev-Ram, M. (2019). ONCE UPON A TIME AT NETFLIX. (cover story). Fortune, 180(4), 74–83.

Nobody Knows What Television Is Anymore. (2019). Reason, 51(7), 58.

1) What are the three inventory accounts used to record manufacturing cost? In what order are these accounts used?

2) To what "family" do inventory accounts belong - asset, liability, equity, revenue or expense? On what financial statement are they reported?

3) At what point do manufacuring costs leave the last inventory account and into what account are they moved? On what financial statement is this account reported?