ACC 290 Week 3 WileyPLUS Assignment Week Three

Brief Exercise BE4-1

Transactions that affect earnings do not necessarily affect cash

Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. (If an amount has a decreasing effect use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45). Do not use a dollar sign $ for negative answers.)

Problem P4-2A

Nick Waege started his own consulting firm, Waegelein Consulting, on June 1, 2010. The trial balance at June 30 is as follows

Problem P4-3A

The Olathe Hotel opened for business on May 1, 2010. Here is its trial balance before adjustment on May 31