Hannigan’s Accounting Assingment Help With Solution

In June 2015, Wendy Winger organized a corporation to provide aerial photography services. The company, called Aerial Views, began operations immediately. Transactions during the month of June were as follows:

June 1
The corporation issued 60,000 shares of capital stock to Wendy Winger in exchange for $60,000 cash.

June 2
Purchased a plane from Utility Aircraft for $220,000. Made a $40,000 cash down payment and issued a note payable for the remaining balance.

June 4
Paid Woodrow Airport $2,500 to rent office and hangar space for the month.

June 15
Billed customers $8,320 for aerial photographs taken during the first half of June.

June 15
Paid $5,880 in salaries earned by employees during the first half of June.

June 18
Paid Hannigan’s Hangar $1,890 for maintenance and repair services on the company plane.

June 25
Collected $4,910 of the amounts billed to customers on June 15.

June 30
Billed customers $16,450 for aerial photographs taken during the second half of the month.

How it Works

How It works ?

Step 1:- Click on Submit your Assignment here or shown in left side corner of every page and fill the quotation form with all the details. In the comment section, please mention product code mentioned in end of every Q&A Page. You can also send us your details through our email id support@assignmentconsultancy.com with product code in the email body. Product code is essential to locate your questions so please mentioned that in your email or submit your quotes form comment section.

Step 2:- While filling submit your quotes form please fill all details like deadline date, expected budget, topic , your comments in addition to product code . The date is asked to provide deadline.

Step 3:- Once we received your assignments through submit your quotes form or email, we will review the Questions and notify our price through our email id. Kindly ensure that our email id assignmentconsultancy.help@gmail.com and support@assignmentconcultancy.com must not go into your spam folders. We request you to provide your expected budget as it will help us in negotiating with our experts.

Step 4:- Once you agreed with our price, kindly pay by clicking on Pay Now and please ensure that while entering your credit card details for making payment, it must be done correctly and address should be your credit card billing address. You can also request for invoice to our live chat representatives.

Step 5:- Once we received the payment we will notify through our email and will deliver the Q&A solution through mail as per agreed upon deadline.

Step 6:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.

Features

Features for Assignment Help

Zero Plagiarism
We believe in providing no plagiarism work to the students. All are our works are unique and we provide Free Plagiarism report too on requests.

Relevancy
We believe in providing perfect, relevant and 100% accurate solutions to the student as per questions asked. All our experts are perfect in providing that so as to give unique experience to the students.

Three Stage Quality Check
We are the only service providers boasting of providing original, relevant and accurate solutions. Our three stage quality process help students to get perfect solutions.

100% Confidential
All our works are kept as confidential as we respect the integrity and privacy of our clients.

Related Services

June 30
Paid $6,000 in salaries earned by employees during the second half of the month.

June 30
Received a $2,510 bill from Peatree Petroleum for aircraft fuel purchased in June. The entire amount is due July 10.

June 30
Declared a $2,000 dividend payable on July 15.
Cash
Retained Earnings
Accounts Receivable
Dividends
Aircraft
Aerial Photography Revenue
Notes Payable
Maintenance Expense
Accounts Payable
Fuel Expense
Dividends Payable
Salaries Expense
Capital Stock
Rent Expense

Instructions

a. Analyze the effects that each of these transactions will have on the following six components of the company’s financial statements for the month of June. Organize your answer in tabular form, using the column headings shown. Use I for increase, D for decrease, and NE for no effect. The June 1 transaction is provided for you:
Income Statement
Balance Sheet
Transaction
Revenue –
Expenses =
Net Income
Assets =
Liabilities +
Owners’ Equity
1-Jun
Ne
Ne
NE
I
NE
I

b. Prepare journal entries (including explanations) for each transaction.

c. Post each transaction to the appropriate ledger accounts

d. Prepare a trial balance dated June 30, 2015.

Product Code :Acc46

To get answer for this question, kindly click here (Note: Don’t forget to write the product code in comment section)

You can also email us at assignmentconsultancy.help@gmail.com but please mentioned product code in the mail body while sending emails.You can browse more questions to get answer in our Q&A sections here.

Summary