Principles of accounting i assignment 2

A02E Principles of Accounting IDirections:  Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the “Assignment Format” page located on the Course Home page for specific format requirements.Part A (30 points)Prepare general journal entries to record the following transactions for the Harris Company. (The company uses the balance sheet approach for recording bad debts expense.)2010Dec.       31           Recorded Bad Debts Expense, $800 2011Jan.        3             Wrote off Jal’s account as uncollectible, $60Mar.      4             Wrote off Hall’s account as uncollectible, $75Jul.         5             Recovered $45 from HallAug.       19           Wrote off M. Wilson’s account as uncollectible, $100Nov.      7             Recovered $25 from Jal      Part B (10 points each for a possible total of 40 points)For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement that the account in which the account balance is reported, and in Column 4 the account’s nature (temporary/permanent).(1)  Column 1 Column 2 Column 3 Column 4Interest payable         (2)  Column 1 Column 2 Column 3 Column 4Interest receivable         (3)  Column 1 Column 2 Column 3 Column 4Discount on notes payable         (4)  Column 1 Column 2 Column 3 Column 4Store equipment         Part C (15 points each for a possible total of 30 points)(1)    A computer server system, which had cost $210,000 and had accumulated depreciation of $147,000, was traded for a new system with a fair market value of $235,000. The old system and cash of $180,000 were given for the new system. Prepare the journal entry for the exchange of these similar assets. (2)    Prepare journal entries for the following for Bartz, Inc.May May 11 Replaced the engine in a Van #1, paying cash of $5,400. May 18 Paid cash for a tune-up of the engine in Van #2 of $570.May 29 Paid cash to add a lift to Van #2 of $3,700  

Are you Still stressed about writing my discussion essay?
Get profesisonal assistance from our discussion essay writing experts!
Open chat
Order through WhatsApp!
You Can Now Place your Order through WhatsApp