Create t-account tables for the following scenarios:
1. The client paid a $4,000 audit invoice which was expensed in the prior period out of their bank account.
2. The client sent you a Legal invoice for $10,000 that was not paid during the quarter but needs to be expensed this period.
3. A Limited Partner contributed capital that was unpaid as of the prior period end in the amount of $25,000
4. The client made an investment purchase totalling $21,000 out of their bank account.
5. The client requested one of their existing investments’ value be updated from $200,000 to $450,000 during the period
6. One of the client’s investments is an interest-bearing debt instrument. 210,000 is the investment, book this period’s entry.
7. The client notified you that this period’s management fee had not been paid. 11,000 is the fee, book this period’s Management Fee.
The post Create t-account tables for the following scenarios: 1. The client paid a $4,000 audit invoice which was expensed in the prior period out of their bank account. 2. The client sent you a Legal invoice for $10,000 that was not paid during the quarter but needs to be expensed this period. 3. A Limited Partner contributed capital that was unpaid as of the prior period end in the amount of $25,000 4. The client made an investment purchase totalling $21,000 out of their bank account. 5. The client requested one of their existing investments’ value be updated from $200,000 to $450,000 during the period 6. One of the client’s investments is an interest-bearing debt instrument. 210,000 is the investment, book this period’s entry. 7. The client notified you that this period’s management fee had not been paid. 11,000 is the fee, book this period’s Management Fee. first appeared on essaypanel.com.
