ACCOUNTING-How much is the total resources
QUESTION
ACCT504 – Case 1- Part A
Gordon
Contruction, Inc.
Trial
Balance
June 30,
2014
Account titles
Debit
Credit
Cash
19,270
Accounts receivable
500
Supplies
3,000
Equipment
5,200
Land
37,000
`
Accounts payable
5,400
Common Stock
55,000
Dividends
3,000
Service revenue
12,500
Salary expense
4,300
Utilities expense
630
Total
72,900
72,900
Please answer the 3
questions for Requirement 4 below.
Q1
How much is the total
resources?
67,500
Q2
How much does the
business owe?
5,400
Q3
Was June profitable and
by how much?
yes
7,570
ACCT504 – Case 1 – Part B
Month
End Adjusting Entries
Date
Account Titles
Debit
Credit
Jun 30
account receivable
3,100
service revenue
3,100
Jun 30
supplies expenses
2,300
supplies
2,300
June
30
salary expeses
6,100
salary payable
6,100
ACCT504 – Case 1- Part B
Key each adjusting entry
by letter in column i.
Gordon
Construction, Inc.
When you plug in your
adjustments below into columns j and k, the adjusted trial balance will
change automatically.
Trial
Balance Work Sheet
June 30,
2014
Adjusted
Trial Balance
Adjustments
Trial Balance
Account titles
Debit
Credit
Debit
Credit
Debit
Credit
Cash
19,270
19,270
Accounts receivable
500
3,100
3,600
Supplies
3,000
2,300
700
Equipment
5,200
5,200
Land
37,000
37,000
Accounts payable
5,400
5,400
Salary
payable
0
6,100
6,100
Common Stock
55,000
55,000
Divdends
3,000
3,000
0
Service
Revenue
12,500
3,100
15,600
Salary
Expense
4,300
6,100
10,400
Utilities
Expense
630
630
Supplies
Expense
0
2,300
2,300
Total
72,900
72,900
11,500
11,500
82,100
82,100
Case Study 1 Grading Rubric – Students
Criteria
Parts
Requirement
Points
Part A
Requirement 1
Record
the Journal Entries
30
Part A
Requirement 2
Post
transactions to the General Ledger T-accounts
15
Part A
Requirement 3
Prepare
the Trial Balance
15
Part A
Requirement 4
Answer
the 3 questions
10
Part B
Requirement 1
Record
Adjusting Journal Entries
15
Part B
Requirement 2
Prepare
Adjusted Trial Balance
15
Total Points
100
Please
note: Your work will be graded based on accuracy but there is always the
opportunity for partial credit for attempted work.
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