Step 1, "Journalize" Accounting Period Transactions |
Step 2, "Post" all journal entries from step 1 to general ledger accounts (T accounts) |
Step 3, Prepare an unadjusted trial balance at period ending (date). |
Step 4, "Journalize" Adjusting Year-end Entries
Step 5, Carry over existing T-Accounts from Tab "Steps 1-3" and Post all journal entries from step 1 to general ledger accounts (T accounts)
Step 6, Prepare an Adjusted trial balance at period ending (date).
Step 7, Prepare Year-End Financial Statements |
Step 1, "Journalize" Accounting Period Transactions Step 2, "Post" all journal entries from step 1 to...
Requirement a. Journalize the transactions for the year. Requirement b. Post the journal entries to t-accounts. Use the dates as posting references for the journal entries to post each entry to the relevant accounts, then compute the unadjusted balance of each account. Label the unadjusted balances with Unadj.. Bal. (For accounts with a $0 ending balance, select "Unadj. Bal." and enter "0" on the normal balance side of the t-account.) Review the journal entries prepared in Requirement a. Requirement c....
Forms Practice Set Instructions: 1. Prepare journal entries to record external transactions 2. Post journal entries to general ledger T accounts. 3. Prepare journal entries to record adjusting entries 4 Post the adjusting entries to the general ledger T accounts (include a balance on each account) 5. Prepare an adjusted trial balance. 6. Prepare, using good form, an income statement, a statement of stockholders' equity, and a classified balance sheet. 7. Prepare closing journal entries. 8. Post the closing entries...
QUESTION 1 Required: #1. Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel Template.xlsx". Use the following accounts as appropriate: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense. 1-Dec Began business by depositing $10000 in a bank account in the name of the company in...
Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND CLOSING ENTRIES JOURNAL. Complete all steps in accounting cycle. (LO 1, 2, 4) P4-5A Anya Clark opened Anya's Cleaning Service on July 1, 2017. During July, the following transactions were completed. GLS July 1 1 3 12 18 Anya invested $20,000 cash in the business. Purchased used truck for $12,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $2,100 on account. Paid $1,800 cash on a...
I need help with the journal entries, adjusting entries, classified balance sheet and the post closing balance PTUDlen. Laura Eddy opened Eddy's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar 1 3 14 18 Invested $10,000 cash in the business. Purchased used truck for $6,000, paying $3,000 cash and the balance on account. Purchased cleaning supplies for $1,200 on account. Pald $1,200 cash on one-year insurance policy effective March 1. Billed customers $4,800 for cleaning...
Acc 300 Practice set 1 Required: Journalize the transactions Post to ledger (T accounts) Prepare Trial Balance Journalize the adjusting entries Post to the ledger Prepare Adjusted Trial Balance Prepare the four financial statements Net income equals $11,583 Purchased inventory on account $23,000 Sales on account $35,000 Cash Sales $22,000 Paid salaries $6,000 Purchased supplies on account for $500 Cash collected from customers $19,000 Purchased inventory for cash $13,000 Wrote off customer account as uncollectable $300 Made payment on account...
Please help im so lost i have been working on this for days Step 1 Journalize the July transactions. Use journal page 1. Step 2 Post the July transactions from page J1 to the general ledger. Step 3 Prepare a trial balance at July 31 using the running balance total for each account in the ledger. Step 4 Journalize the adjusting entries. Use journal page 2. Step 5 Post the July adjusting entries from page J2 to the general ledger....
Record transactions, post journal entries, prepare an unadjusted and adjusted trial balance, prepare the income statement and balance for the year ended dec 31, 2018, record closing entries and prepare a post-closing trial balance The following information applies to the questions displayed below.) The general ledger of Zips Storage at January 1, 2018, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Debits $ 24,600 15,400 12,000 148,000...
Prepare all required adjusting entries (omit explanations) for the end of the accounting period, post all adjusting entries to the general ledger and create an Adjusted Trial Balance for the six months ending June 30, 2016. Prepare all required closing entries (omit explanations) for the end of the accounting period, post all closing entries to the general ledger and prepare a Post-Closing Trial Balance as of June 30, 2016. Calculate the following ratios: Current Ratio, Quick Ratio, Profit Margin, and...
please explain each and every step Prepare journal entries -> Post in ledgers Balance -> Pass adjustments -> Prepare Adjusted Trial -> FS Prepare Trial -> Shareholders purchased 600,000 shares (each share for Rs 10) in January and interim dividend is paid at the rate of Rs 1.5 per share in June and final dividend in December at the rate of Rs 2.0 per share 1. In February, the company made sales of Rs 80,000 and received 50,000 in cash....