Finance Case Study
lfaroy
acct504_case_study_1_template..xlsCase 1 Part A Journal Entries
| ACCT504 - Case 1 - Part A | ||||
| Date | Account Titles | Debit | Credit | |
| Jun 2 | Cash | 55,000 | ||
| Common Stock | 55,000 | |||
| Jun 3 | Debit account title | |||
| Credit account title |
Case 1 Part A Postings
| ACCT504 - Case 1- Part A | ||||||||||
| CASH | COMMON STOCK | |||||||||
| 6/2 | 55,000 | 6/2 | 55,000 | |||||||
| Bal. | 55,000 | |||||||||
| Bal. | 55,000 | |||||||||
| TITLE | TITLE | |||||||||
| TITLE | TITLE | |||||||||
| TITLE | TITLE | |||||||||
| TITLE | TITLE | |||||||||
| TITLE | TITLE |
&C128
Case 1 Part A Trial Balance
| ACCT504 - Case 1- Part A | ||||||||||||
| Gordon Contruction, Inc. | ||||||||||||
| Trial Balance | ||||||||||||
| June 30, 2014 | ||||||||||||
| Account titles | Debit | Credit | ||||||||||
| Cash | 55,000 | |||||||||||
| Accounts receivable | ||||||||||||
| Supplies | ||||||||||||
| Equipment | ||||||||||||
| Land | ` | |||||||||||
| Accounts payable | ||||||||||||
| Common Stock | ||||||||||||
| Dividends | ||||||||||||
| Service revenue | ||||||||||||
| Salary expense | ||||||||||||
| Utilities expense | ||||||||||||
| Total | 55,000 | 0 | ||||||||||
| Please answer the 3 questions for Requirement 4 below. | ||||||||||||
| Q1 | How much is the total resources? | |||||||||||
| Q2 | How much does the business owe? | |||||||||||
| Q3 | Was June profitable and by how much? |
&C130
Case 1 Part B Adjusting Entries
| ACCT504 - Case 1 - Part B | ||||
| Month End Adjusting Entries | ||||
| Date | Account Titles | Debit | Credit | |
| Jun 30 | ||||
| Jun 30 | ||||
| June 30 |
Case 1 Part B Adjusted TrialBal
| ACCT504 - Case 1- Part B | ||||||||||||
| Key each adjusting entry by letter in column i. | ||||||||||||
| Gordon Construction, Inc. | When you plug in your adjustments below into columns j and k, the adjusted trial balance will change automatically. | |||||||||||
| Trial Balance Work Sheet | ||||||||||||
| June 30, 2014 | Adjusted | |||||||||||
| Trial Balance | Adjustments | Trial Balance | ||||||||||
| Account titles | Debit | Credit | Debit | Credit | Debit | Credit | ||||||
| Cash | 55,000 | 55,000 | ||||||||||
| Accounts receivable | 0 | 0 | ||||||||||
| Supplies | 0 | 0 | ||||||||||
| Equipment | 0 | 0 | ||||||||||
| Land | 0 | 0 | ||||||||||
| Accounts payable | 0 | 0 | ||||||||||
| Salary | payable | 0 | 0 | |||||||||
| Common Stock | 0 | 0 | ||||||||||
| Divdends | 0 | 0 | 0 | |||||||||
| Service | Revenue | 0 | 0 | |||||||||
| Salary | Expense | 0 | 0 | |||||||||
| Utilities | Expense | 0 | 0 | |||||||||
| Supplies | Expense | 0 | 0 | |||||||||
| Total | 55,000 | 0 | 0 | 0 | 55,000 | 0 |
Grading Rubric
| Case Study 1 Grading Rubric - Students | ||
| Criteria | ||
| Parts | Requirement | Points |
| Part A Requirement 1 | Record the Journal Entries | 30 |
| Part A Requirement 2 | Post transactions to the General Ledger T-accounts | 15 |
| Part A Requirement 3 | Prepare the Trial Balance | 15 |
| Part A Requirement 4 | Answer the 3 questions | 10 |
| Part B Requirement 1 | Record Adjusting Journal Entries | 15 |
| Part B Requirement 2 | Prepare Adjusted Trial Balance | 15 |
| Total Points | 100 | |
| Please note: Your work will be graded based on accuracy but there is always the opportunity for partial credit for attempted work. |
