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Case Study 1 (Part A) (Learning Objectives 4, 5, 6: Analyze

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Case Study 1 (Part A) (Learning Objectives 4, 5, 6: Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction,
Inc., completed the following transactions: June 2 Gordon received $55,000 cash and issued common stock to the stockholders. 3 Purchased supplies, $3,000, and equipment, $5,200, on account. 4 Performed services for a client and received cash, $6,300. 7 Paid
cash to acquire land, $37,000. 11 Performed services for a customer and billed the customer, $1,200. Johnson expects to collect within one month. 16 Paid partial for the equipment purchased June 3 on account $2,800. 17 Paid the telephone bill, $230. 18 Received
partial payment from customer on account, $700. 22 Paid the water and electricity bills, $400. 29 Received $5,000 cash for repairing the pipes of a customer. 30 Paid employee salary, $4,300. 30 Declared and paid dividends of $3,000. ▸Requirements • 1. Record
each transaction in the journal. Key each transaction by date. Explanations are not required. • 2. Post the transactions to the T-accounts, using transaction dates as posting references. • 3. Prepare the trial balance of Gordon Construction, Inc., at June30,
2014. • 4. The manager asks you how much in total resources the business has to work with and, how much it owes. Case Study 1 (Part B) Requirement 1 (Learning Objectives 3, 4: Adjust the accounts; construct the financial statements) Record the following month
end adjusting entries for Gordon Construction, Inc. at June 30, 2014 Month end accruals at June 30, 2014: • a. Accrued advertising revenue at June 30, $3,100. • b. Supplies used during June, $2,300. • c. Accrued salary expense at June 30 for Monday, Tuesday,
and Wednesday. The five-day weekly payroll is $6,100 and will be paid on Friday. Requirement 2 Prepare adjusted trial balance for Gordon Construction at June 30, 2014.
Submitted: 1 year ago.
Category: Finance
Expert:  John Mark replied 1 year ago.
HelloMy name is***** can assist you. Please advise me your deadlineThaxn
Customer: replied 1 year ago.
Hi my deadline is midnight Arizona time today.
Expert:  John Mark replied 1 year ago.
How many do i have
Customer: replied 1 year ago.
Just the questions that are attached above.
Expert:  John Mark replied 1 year ago.
How many hours do i have?
Customer: replied 1 year ago.
13 hours
Expert:  John Mark replied 1 year ago.
Working. Will post the solution before your deadline
Customer: replied 1 year ago.
Thank you!
Expert:  John Mark replied 1 year ago.
Here you go with the solution
Any queries let me know, else POSITIVELY RATE. Bonuses are appreciated.
Expert:  John Mark replied 1 year ago.
Just a follow up. any queries else do rate it POSITIVELY as it is the only way i can get credit for my work

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