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$1.00 ACCT-504 Case Study 1 on Flower Landscaping Corporation

  • From Business: Finance
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  • Due on Nov. 04, 2012
  • Asked on Nov 04, 2012 at 1:20:42PM
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StudentTop
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Q:
CASE STUDY 1 -THE COMPLETE ACCOUNTING CYCLE
   
The Entire Case Study is due Sunday at Midnight Mountain time at the end of Week 3.
This Case Study is worth 100 points or 10% of your final course grade.
   
This Case Study relates to TCO's D and E and Chapters 3 and 4.  
   
MAKE SURE TO COMPLETE ALL REQUIREMENTS WHICH ARE LISTED BELOW.
   
There are 10 Sheets in the Workbook including this one.  
All of the Information you need for the Project is located in this Workbook.
   
Requirements Sheet in Workbook
Requirement 1 - Prepare the Journal Entries in the General Journal Journal Entries
Requirement 2 - Post Journal Entries to the General Ledger General Ledger
Requirement 3 - Prepare a Trial Balance Trial Balance
Requirement 4 - Prepare the Adjusting Entries Adjusting Entries
Requirement 5 - Post Adjusting Entries to the General Ledger General Ledger
Requirement 6 - Prepare an Adjusted Trial Balance Adjusted TB
Requirement 7 - Prepare the Financial Statements Financial Statements
Requirement 8 - Prepare the Closing Entries Closing Entries
Requirement 9 - Post Closing Entries to the General Ledger General Ledger
Requirement 10 - Prepare the Post Closing Trial Balance Post Closing TB
   
Hint for success: review the Week 2 Lecture prior to starting this project.
There are also hints contained within certain cells on some of the worksheet tabs. 
You can hover over the red pointer at the top right-hand corner of the cell to read the hint.
Hints are provided for the following balances:  
1) The debits for the journal entries on the Journal Entries tab  
2) The credits for the journal entries on the Journal Entries tab  
3) The cash balance on the General Ledger tab  
4) The debits for the trial balance on the Trial Balance tab  
5) The credits for the trial balance on the Trial Balance tab  
6) The debits for the adjusted trial balance on the Adjusted Trial Balance tab
7) The credits for the adjusted trial balance on the Adjusted Trial Balance tab
8) Net Income for the Income Statement on the Financial Statements tab
9) Retained earnings as of March 31 on the Financial Statements tab
10) Total assets for the Balance Sheet on the Financial Statements tab
11) Total liabilities and shareholders' equity for the Balance Sheet on the Financial Statements tab
12) The debits for the post-closing trial balance on the Post-Closing Trial Balance tab
13) The credits for the post-closing trial balance on the Post-Closing Trial Balance tab

 

REQUIREMENT #1:      
During its first month of operation, the Flower Landscaping Corporation, which specializes in residential landscaping,
completed the following transactions:  
         
March 1 Began business by making a deposit in a company bank account of $72,000, in exchange
  for 7,200 shares of $10 par value common stock.
         
March 1 Paid the current month's rent, $4,500.
         
March 1 Paid the premium on a one-year insurance policy, $3,300.
         
March 7 Purchased supplies on account from Parkview Company, $900.
         
March 10 Paid employee salaries, $2,200.
         
March 14 Purchased equipment from Hammond Company, $9,000. Paid $1,500 down and the balance was
  placed on account.  Payments will be $375.00 per month for twenty months.  The first payment is due 4/1.
  Note:  Use Accounts Payable for the Balance Due.
         
March 15 Received cash for landscaping revenue for the first half of March, $4,896.
         
March 19 Made payment on account to Parkview Company, $450.
         
March 31 Received cash for landscaping revenue for the last half of March, $5,304.
         
March 31 Declared and paid cash dividend of $1,000.
 

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Acct504 Case Study 1 Flower Landscaping Corporation
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Acct504 Case Study 1 Flower Landscaping Corporation.xlsx (56K)
Acct504 Case Study 1 Flower Landscaping Corporation.xls (111K)
 
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ACCT 504 Week 3 case study 1 Flower Landscaping Corporation
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Week 3 case study graded.xlsx (57K)
 
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ACCT 504 Case Study 1--Flower Landscaping Corporation --100% Correct Complete Answers--ACCOUNTANT you can trust
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FLOWER LANDSCAPING Corp. - ACCT 504 Case Study Answers COMPLETE.xlsx (25K)
 
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Flower landscaping solution-Accurate-Everything completed.
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A C C T 504 Wk_3 Case Study 1 The Complete Accounting Cycle (Parkview Landscaping)
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 ACCT 504 Week 3 Case Study 1 The Complete Accounting Cycle (Parkview Landscaping).xlsx
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