Important Information: Choose only 1 method to do the following assignment—use either QuickBooks and your PC or Excel and your mobile device. The QuickBooks software cannot be installed on iOS or...

I have 2 assignment that is do on the 31 , is all for computerized accounting


Important Information: Choose only 1 method to do the following assignment—use either QuickBooks and your PC or Excel and your mobile device. The QuickBooks software cannot be installed on iOS or Android mobile phones or tablets. Students who wish to use mobile devices should use Excel. For your Farm Branch Rental project, complete the following: Excel Users: You will use the ACCT210 Project Workbook Student Excel workbook as the deliverable for this assignment. Specifically, the following worksheets will be completed: December Journal Entries T-Accounts Trial Balance Adjusting Entries Refer to the MP Computer Accounting with QuickBooks 2018 e-book for help in completing this assignment. Specifically, study Chapter 3 (p. 105) in the e-book. While all sections are important, you should focus on the following sections for completing the deliverable for this assignment: Section 3.7 (p. 127): Customers and Sales Transactions Section 3.8 (p. 133): Vendors and Expense Transactions Section 3.10 (p. 140): Other – General Journal Transactions Section 3.13 (p. 143): Double-Entry Accounting QuickBooks Users: Journalize the following December 2015 transactions in Quickbooks: December 1: Issued to Larry and Samantha West 10,000 shares of common/capital stock each, in exchange for a total of $200,000 cash. December 1: Purchased for $240,000 all of the equipment formerly owned by LMNOP Rental. Paid $140,000 cash, and issued a 1-year note payable for $100,000. December 1: Paid $12,000 to HJW Realty as 3 months' advance rent on the rental yard and the office formerly occupied by LMNOP Rentals. December 4: Purchased office supplies on account from Modern Office Supply Co. for $1,000. Payment is due in 30 days. (These supplies are expected to last for several months; debit the Office Supplies asset account.) December 8: Received $8,000 cash as advance payment on an equipment rental from Geller Construction Company. (Credit unearned rental fees.) December 12: Paid salaries for the first 2 weeks in December, in the amount of $5,200. December 15: Excluding the Geller advance payment of $8,000, equipment rental fees earned during the first 15 days of December amounted to $18,000, $12,000 of which was received in cash and $6,000 AR to be collected from Geller. December 17: Purchased on account from Relocating, Inc. were $600 in parts needed to repair a rental tractor. (Debit an expense account). Payment is due in 10 days. December 23: Collected $2,000 of the accounts receivable recorded on December 15 from Geller. December 23: Rented a backhoe to Rocks, Etc. at a price of $250 per day, to be paid when the backhoe is returned. Rocks, Etc. expects to keep the backhoe for about 10 days. (The company is using accrual basis method of accounting.) December 26: Paid biweekly salaries, in the amount of $5,200. December 27: Paid the account payable to Relocating, Inc. in the amount of $600. December 28:  Declared a dividend of 10 cents per share, payable on January 15, 2016. December 31: Received a bill from Progress Energy Utilities for the month of December for $700, due on January 12, 2016. December 31: Equipment rental fees earned during the second half of December amounted to $20,000, $15,600 of which was received in cash from Geller Construction Company and $4,400 in AR for Rocks. Excel Users: Journalize the following adjustments: (Complete these entries in the “Adjusting Entries” worksheet in the Excel Project Workbook.) For this part of the assignment, you should study Chapter 9 (p. 394) in the e-book. While all sections are important, you should focus on the following sections for completing the deliverable for this assignment: The advance payment of rent on December 1 covered a period of three months. The annual interest rate on the note payable to LMNOP Rental is 6%. The rental equipment is being depreciated using the straight-line method over a useful life of 8 years; there is no salvage value. The office supplies on hand at December 31 equal about $600. As of December 31, six days of rent on the backhoe rented to Rocks Etc. on December 23 has been earned. During December, the company earned $3,700 of the rental fees paid in advance by Geller Construction, on December 8. Salaries earned by employees since the last payroll date (December 26) amounted to $1,400 at month end. e-Book sections: Section 9.5 (p. 400): Adjusting Entries Section 9.7 (p. 404): Types of Adjusting Entries Section 9.8 (p. 405): Prepaid Items Section 9.9 (p. 407): Unearned Items Section 9.10 (p. 408): Accrued Expenses Section 9.11 (p. 409): Accrued Revenues QuickBooks and Excel Users: Journalize the following adjustments: The advance payment of rent on December 1 covered a period of 3 months. The annual interest rate on the note payable to LMNOP Rental is 6%. The rental equipment is being depreciated using the straight-line method over a useful life of 8 years; there is no salvage value. The office supplies on hand on December 31 equal about $600. As of December 31, 6 days' rent on the backhoe rented to Rocks, Etc. on December 23 has been earned. During December, the company earned $3,700 of the rental fees paid in advance by Geller Construction, on December 8. Salaries earned by employees since the last payroll date (December 26) amounted to $1,400 at month-end. QuickBooks Users: Present a trial balance to show the balancing of accounts. (There are a few accounts that will need to be added to successfully complete the journal entries and adjustments.) Upon completion of the journal entries and adjustments, review and print a PDF report in the software that will show the activity of the company. Write a summary of 2–3 paragraphs explaining how the tasks that you have completed previously (course objectives) impacted your ability to perform these entries. Excel Users: In the Excel Project Workbook, complete the Trial Balance worksheet to show the balancing of accounts. (Note: The trial balance worksheet will autofill correctly if all journal entries have been completed correctly.) Upon completion of the journal entries and adjustments,write a summary of 2–3 paragraphs explaining how the tasks that you have completed previously (course objectives) impacted your ability to perform these entries. You may write this summary on the Adjusting Entries tab in the Excel Project Workbook. Please submit your assignment. For assistance with your assignment, please use your text, Web resources, and all course materials.