Accounting Assignment | Custom Assignment Help

Journalizing transactions, posting to T-accounts, and preparing a trial balance Problem P2-41 continues with the consulting business begun in Problem P1-54 in

Don't use plagiarized sources. Get Your Assignment on
Accounting Assignment | Custom Assignment Help
Just from $13/Page
Order Now

Custom Assignment Help

Chapter 1.

Here you will account for Daniels Consulting’s transactions as it is actually

done in practice.

Daniels Consulting completed the following transactions during December 2016:

  • Dec. 2 Daniels contributed $20,000 cash in exchange for capital.
  • 2 Paid monthly office rent, $2,000.
  • 3 Paid cash for a computer, $3,600. This equipment is expected to remain in service
  • for five years.
  • 4 Purchased office furniture on account, $3,000. The furniture should last for
  • five years.
  • 5 Purchased office supplies on account, $800.
  • 9 Performed consulting service for a client on account, $2,500.
  • 12 Paid utilities expenses, $150.
  • 18 Performed service for a client and received cash of $2,100.
  • 21 Received $2,400 in advance for client service to be performed in the future.
  • 21 Hired an administrative assistant to be paid $2,055 on the 20th day of each
  • month. The secretary begins work immediately.
  • 26 Paid $200 on account.
  • 28 Collected $400 on account.
  • 30 Daniels withdrew $1,000.

Custom Assignment Help


1. Journalize the transactions, using the following accounts: Cash; Accounts

Receivable; Office Supplies; Equipment; Furniture; Accounts Payable; Unearned

Revenue; Daniels, Capital; Daniels, Withdrawals; Service Revenue; Rent Expense;

and Utilities Expense. Explanations are not required.

2. Open a T-account for each of the accounts.

3. Post the journal entries to the T-accounts, and calculate account balances. Formal

posting references are not required.

4. Prepare trial balance as of December 31, 2016.

5. Prepare the income statement of Daniels Consulting for the month ended

December 31, 2016.

6. Prepare the statement of owner’s equity for the month ended December 31, 2016.

7. Prepare the balance sheet as of December 31, 2016.

8. Calculate the debt ratio for Daniels Consulting at December 31, 2016.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Customer 463759, January 21st, 2023
Healthcare & Medical
Excellent work!
Customer 463337, November 18th, 2022
Business and administrative studies
As I expected.
Customer 460551, December 15th, 2021
Computer science
Paper was extremely because support team did not read my request, causing it to be extremely late. I should receive at some type of refund because that one is not on me...
Customer 452515, April 19th, 2020
Business and administrative studies
Good analysis and computation,
Customer 463053, July 9th, 2022
Good content. Check APA cover page format on the student paper here https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/apa_sample_paper.html
Customer 462457, March 29th, 2022
As I expected.
Customer 460551, November 23rd, 2021
very good job
Customer 456821, August 3rd, 2022
English 101
Satisfactory. However, always go through instructions before submitting to identify omissions.
Customer 462843, April 11th, 2022
excellent work
Customer 456821, June 26th, 2022
Customer 452441, April 6th, 2022
Excellent and fast work! Thanks!
Customer 454259, April 11th, 2020
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat