Barbara Miracle, Certified Public Accountant, operates as a professional corporation (PC). The business completed these transactions during the first part of August 2016:
Aug 2 Received $10,000 cash from Miracle, and issued common stock to her.
2 Paid monthly office rent, $600.
3 Paid cash for a Dell computer, $2,700, with the computer expected to remain in service for five years.
4 Purchased office furniture on account, $4,500, with the furniture projected to last for five years.
5 Purchased supplies on account, $800.
9 Performed tax services for a client and received cash for the full amount of $1,400.
12 Received and paid utility expenses, $300.
18 Performed consulting services for a client on account, $ 1,900.
1. Journalize the transactions for Barbara Miracle, Certified Public Accountant. Explanations are not required.
2. Post to the T-accounts. Key all items by date and determine the ending balance in each account. Denote an account balance on August 18, 2016, as Bal.
3. Using Excel, prepare a trial balance at August 18, 2016. In the Serial Exercise of Chapter 3, we add transactions for the remainder of August and will require a trial balance at August 31.
October 1 Prepaid insurance for October through rs$3,900.
4 Purchased office furniture for cash,$4,500.
5 Performed services and received cash,$1,000.
8 Paid advertising expense,$500.
11 Performed service on account,$3,200.
19 Purchased computer on account,$1,900.
24 Collected for October 11 service.
26 Paid acoount payable from October 19.
29 Paid salary expense,$800.
31 Adjusted for October insurance expense (see October 1).
31 Earned revenue of $800 that was collected in advance back in September.
31 Recorded October depreciation expense on all fixed assets,$460.
1. Show how each transaction would be handled (in terms of recognizing revenues and expenses) using the cash basis and the accrual basis.
2. Compute October income (loss) before tax under each accounting method.
3. Indicate which measure of net income or net loss is preferable. Use the transactions on October 11 and October 24 to explain.
DAT 565 Week 5 Excel Data Analysis and Interactive Exercise
Download "Population Historical" data from the government website.
•Select the data for each continent and their populations and group together at the top of the spreadsheet. Use only population data from the last 10 years.
•Create an Area Chart in Excel with this data having all continents as data series, and the Years as X-Axis. (1 hour for a, b, c).
Create narratives based on the Excel Area Chartto discuss the following in a minimum of 1,400 words:
•Interpret the historical trend in increase/decrease of population per continent.
•Formulate a prediction on how the population would vary in the next decade. How did you arrive at this conclusion?
•Investigate how Excel creates a forecast. Explain the steps involved.
•Convert your area chart into a line chart in Excel, and add forecasted values. Include a screenshot in your paper.
•Compare the forecasted output that Excel has provided with the conclusions you have arrived at in regards to the trend in the increase/decrease of population.
•Recommend other Excel data analysis properties or chart types that could be used to demonstrate your data findings.
Format assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.