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Accounting Transactions
Assignment Instructions
Mary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided. Next, prepare a trial balance as of November 30.
| Part A | Mary invested $15,000 cash and a law library valued at $6,000. |
| Part B | Purchased $7,500 of office equipment from John Bronx on credit. |
| Part C | Completed legal work for a client and received $1,500 cash in full payment. |
| Part D | Paid John Bronx $3,500 cash in partial payment of the amount owed. |
| Part E | Completed $4,000 of legal work for a client on credit. |
| Part F | Mary withdrew $2,000 cash from the business for personal use. |
| Part G | Received $2,500 cash as partial payment for the legal work completed for the client in (e). |
| Part H | Paid $2,500 cash for the secretary’s salary. |
Length/Formatting Instructions
| Font | 12 point , Calibri Font |
| Program/File Type | Submit in Word or Excel |
| File Name | Lastname_firstname_A01_M4 Assignment |
M4 Assignment Grading Rubric
Your work will be evaluated on the following criteria:
| CATEGORY | Exemplary | Satisfactory | Unsatisfactory | Unacceptable |
| Part A (10 points) | 10 points
Student provides correct answer |
8 points
Student provides partially correct answer |
5 points
Student provides incorrect answer but shows work |
0 points
Student does not complete |
| Part B (10 points) | 10 points
Student provides correct answer |
8 points
Student provides partially correct answer |
5 points
Student provides incorrect answer but shows work |
0 points
Student does not complete |
| Part C (20 points) | 20 points
Student provides correct answer |
16 points
Student provides partially correct answer |
10 points
Student provides incorrect answer but shows work |
0 points
Student does not complete |
| Part D (20 points) | 20 points
Student provides correct answer |
16 points
Student provides partially correct answer |
10 points
Student provides incorrect answer but shows work |
0 points
Student does not complete |
| Part E (10 points) | 10 points
Student provides correct answer |
8 points
Student provides partially correct answer |
5 points
Student provides incorrect answer but shows work |
0 points
Student does not complete |
| Part F (10 points) | 10 points
Student provides correct answer |
8 points
Student provides partially correct answer |
5 points
Student provides incorrect answer but shows work |
0 points
Student does not complete |
| Part G (10 points) | 10 points
Student provides correct answer |
8 points
Student provides partially correct answer |
5 points
Student provides incorrect answer but shows work |
0 points
Student does not complete |
| Part H (10 points) | 10 points
Student provides correct answer |
8 points
Student provides partially correct answer |
5 points
Student provides incorrect answer but shows work |
0 points
Student does not complete |
