I need help with my realtime financial management exam on June 2 2-5am (EDT). Please choose 4 questions out of 6. It'd be ideal if you could send me answers of each question once it's done instead of...

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I need help with my realtime financial management exam on June 2 2-5am (EDT). Please choose 4 questions out of 6. It'd be ideal if you could send me answers of each question once it's done instead of sending everything towards the end. A sample exam is attached. The real thing will be in similar format. Thank you!!
Answered 1 days AfterMay 24, 2021

Answer To: I need help with my realtime financial management exam on June 2 2-5am (EDT). Please choose 4...

Akshay Kumar answered on May 26 2021
145 Votes
Question 1
    A. Journal Entries
    Transaction    Particular    Debit    Credit
    1    Dr. Cash    $ 180,000.00
         Cr. Capital        $ 180,000.00
    2    Dr. Furniture & Fixture    $ 80,000.00
         Cr. Cash        $ 50,00
0.00
         Cr. Accounts Payable        $ 30,000.00
    3    Dr. Cash    $ 86,900.00
         Cr. Revenue        $ 86,900.00
    4    Dr. Cash    $ 35,750.00
        Dr. Account Receivable    $ 29,250.00
         Cr. Revenue        $ 65,000.00
    5    Dr. Rent Expense    $ 22,000.00
        Dr. Prepaid Rent    $ 44,000.00
         Cr. Cash        $ 66,000.00
    6    Dr. Supplies    $ 3,500.00
         Cr. Cash        $ 3,500.00
    7    Dr. Account Payables    $ 30,000.00
         Cr. Cash        $ 30,000.00
    8    Dr. Insurance Expense    $ 5,900.00
         Cr. Accrued Insurance        $ 5,900.00
    9    Dr. Salaries Expense    $ 91,800.00
         Cr. Cash        $ 91,800.00
    10    Dr. Utilities Expense    $ 1,650.00
         Cr. Cash        $ 1,650.00
    B Trail Balance
        Particular    Debit    Credit
        Cash    $ 59,700.00
        Account Receivable    $ 29,250.00
        Prepaid Rent    $ 44,000.00
        Supplies    $ 3,500.00
        Furniture & Fixture    $ 80,000.00
        Accrued Insurance        $ 5,900.00
        Capital        $ 180,000.00
        Revenue        $ 151,900.00
        Rent Expense    $ 22,000.00
        Salaries    $ 91,800.00
        Utilities Expense    $ 1,650.00
        Insurance Expense    $ 5,900.00
        Total    $ 337,800.00    $ 337,800.00
    C. Cash Ledger
        Cash
    T1    $ 180,000.00    $ 50,000.00    T2
    T3    $ 86,900.00    $ 66,000.00    T5
    T4    $ 35,750.00    $ 3,500.00    T6
            $ 30,000.00    T7
            $ 91,800.00    T9
            $ 1,650.00    T10
        $ 302,650.00    $ 242,950.00
    Balance    $ 59,700.00
    4. Adjusting Entries
    Transaction    Particular    Debit    Credit
    5    Dr. Rent Expense    $ 22,000.00
         Cr. Prepaid Rent        $ 22,000.00
    8    Dr. Accrued Insurance    $ 5,900.00
         Cr. Cash        $ 5,900.00
Question 3
    a
     Market Equilibrium is a situation at which Quantity demanded is equal to quantity supplied. With the improvement in the production technology, Supply Increases which means that the Supplier is willing to supply more goods. However, With the increase in the supply, the price will start to...
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