Order Accounting Cycle Assignment

Order Accounting Cycle Assignment
On January 1, 2022, Mr. Wild formed a corporation to provide services to clients. Information about the first year of operation follows:
Jan. 1 Investors provided $2,100,000 in cash in exchange for stock of The Wild Corporation.
Jan. 1 Purchased equipment in exchange for $430,000 cash and a $1,500,000 note payable at an annual rate of 5%, payable every 6 months.
Jan. 1 Purchased $70,000 of insurance that will cover the next 3 years. This was recorded as prepaid insurance.
Feb. 1 Purchased $10,000 of office supplies on account that will be needed during the upcoming year.
Mar. 15 Paid Salaries of $35,000.
Mar. 31 Billed customers for services in the amount of $325,000.
Apr. 15 Paid the vendor who sold Wild the office supplies on Feb. 1.
Apr. 30 Collected $155,000 on accounts receivable.
June 15 Paid salaries of $40,000.
June 30 Paid $12,000 for employee travel costs.
June 30 Paid $18,000 for a company party.
Order Accounting Cycle Assignment
June 30 Paid the interest due and $180,000 to reduce the balance of the note payable.
July 1 Billed customers for services provided in the amount of $250,000.
Aug 1 Collected $225,000 on accounts receivable.
Aug. 15 Purchased $15,000 of office supplies on account.
Sept. 15 Paid salaries of $65,000.
Sept. 30 Paid $27,000 for a customer appreciation event.
Sept. 30 Paid $49,500 for employee travel costs incurred by staff.
Dec. 1 Collected $92,000 as deposits from customers who contracted for 2023.
Dec. 31 Declared and paid a $50,000 dividend to shareholders.
The Wild Corporation uses the following accounts in it’s Chart of Accounts:
Accounts Receivable
Office Supplies
Prepaid Insurance
Accumulated Depreciation
Accounts Payable
Interest Payable
Unearned Revenue
Notes Payable
Capital Stock
Retained Earnings
Service Revenue
Salaries Expense
Order Accounting Cycle Assignment

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Open chat
You can contact our live agent via WhatsApp! Via + 1 3234125597

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 30% with the discount code HAPPY