You will imagine a newly established SERVICE COMPANY as of Jan 01, 2015. You will start and finish the Accounting Cycle according with the below instructions. You should prepare your Semester Assignment by considering below items to be recorded to the Journal;

During January 2015, record 9 economic events (directed below) to the Journal and post these recorded entries to the related Ledger accounts (:
1 investing some capital (On the 1st of January, some capital from shareholders (1st economic event) is transferred to the company.)
1 getting some loan from a bank (On the 1st of January, some loan from the creditors (banks) with 20% annual interest rate is deposited to the company’s bank account (2nd economic event),
5 deferrals (4 prepaid expenses, 1 unearned revenue),
1 purchasing a vehicle in the beginning of January,
1 purchasing equipment in the beginning of January,

At the end of January, Prepare Trial Balance

Record 8 adjusting entries (5 deferrals for previously recorded entries and, 3 accruals (2 expenses, 1 revenues)) and post these 8 adjusting entries to the related Ledger accounts

Prepare Adjusted Trial Balance
Prepare Income Statement
Prepare Retained Earnings Statement
Prepare Balance Sheet

Which of the following best explains why buying a house is more beneficial than renting? a. buying is a personal investment while renting involves giving money to the landlord. b. the monthly payments on a mortgage are generally lower than rent on an apartment. c. it's easier to sell a house than it is to get a landlord to break a rental agreement. d. housing prices can go up and down quickly in comparison to the level of rents.

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar. spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements. cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery. rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer. gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life. esquire company provides financial statements to external users every three years.

Emerson has an associate degree based on the chart below how will his employment opportunities change from 2008 to 2018