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List the steps in preparing a worksheet. (LO 1) BE4-1 The steps in using a worksheet...
BRIEF EXERCISES BE4-1 The steps in using a worksheet are presented in random order below. List...
BRIEF EXERCISES BE4-1 The steps in using a worksheet are presented in random order below. List the steps in the proper order by placing numbers 1-5 in the blank spaces. (a) Prepare a trial balance on the worksheet. (b) Enter adjusted balances. Extend adjusted balances to appropriate statement columns. (d) Total the statement columns, compute net income (loss), and complete the worksheet. (e) Enter adjustment data. BE4-2 The ledger of Van Heiden Company, NV includes the following unadjusted balances. Pre...
BE 4-7 Using data in BE4-3,identity the accounts that would be included in a post closing...
BE 4-7 Using data in BE4-3,identity the accounts that would be
included in a post closing trial bala
nts apped Depress and Accounts wrial balance colu coreciation Exper counts Payable. In ompleting the Accounting Cycle elecany: Accuenue, Supp balance sheet Cr., etc.) et Cr, etc.) to when shows BE4-3 The following selected accounts appear in the adjusted tria worksheet for Ashram Company: Accumulated Depreciation, Den Capital Owner's Drawings, Service Revenue, Supplies, and Acco financial statement column (income statement Dr., balance...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
List the following steps in preparing a work sheet in their proper order by selecting numbers...
List the following steps in preparing a work sheet in their proper order by selecting numbers 1-5 from the drop down Sort amounts from the adjusted trial balance to the proper financial statement columns Total each statement column, determine net income or not loss and balance the columns c. Prepare an adjusted trial balance Enter required accounts and balances in the Unadjusted Till Balance columns 1. Enter necessary adjustments in the adjustments column e < Prev 9 a 20 33...
Appendix: Completing an end-of-period spreadsheet List (a) through (j) in the order they would be performed...
Appendix: Completing an end-of-period spreadsheet List (a) through (j) in the order they would be performed in preparing and completing an end-of-period spreadsheet. a. Add the Debit and Credit columns of the Unadjusted Trial Balance columns of the spreadsheet to verify that the totals are equal. b. Add the Debit and Credit columns of the Balance Sheet and Income Statement columns of the spreadsheet to verify that the totals are eq c. Add or deduct adjusting entry data to trial...
steps are included in the photos QS 3-22 Identifying the accounting cycle LO C2 List the...
steps are included in the photos
QS 3-22 Identifying the accounting cycle LO C2 List the steps of the accounting cycle in their proper order. 1. Analyzing transactions and events. Analyzing transactions and events. co Covo AWN Journalizing and posting adjusting entries. Journalizing and posting closing entries. Journalizing transactions and events. Posting the journal entries. LLLLLL Posting the journal entries. Preparing the adjusted trial balance. Preparing the financial statements. Preparing the post-closing trial balance. Preparing the unadjusted trial balance.
The following data are taken from the unadjusted trial balance of the Westcott Company at December...
The following data are taken from the unadjusted trial balance of the Westcott Company at December 31. Each account carries a normal balance. Set up a 10-column work sheet to answer the requirements. esclse. Preparing unadjusted and adjusted trial balances, including the adjustments P1 56 $ 6 Accounts Payable..... Accounts Receivable Accumulated Depreciation-Equip.. Cash Equipment Prepaid Insurance...... Revenue............. Salaries Expense....... Supplies W. Westcott, Capital .... 15 $18 75 18 24 42 W. Westcott, Withdrawals.. . Unearned Revenue .......... Utilities Expense...
Problem 4-5A Preparing trial balances, closing entries, and financial statements LO C3, P2, P3
Problem 4-5A Preparing trial balances, closing entries, and financial statements LO C3, P2, P3 The adjusted trial balance of Karise Repairs on December 31, 2017, follows. Assume there are no owner investments in 2017. Required: 1a. Prepare an income statement for the year 2017 1b. Prepare a statement of owner's equity for the year 2017 1c. Prepare a classified balance sheet at December 31, 2017 2. Complete the work sheet using the adjusted trial balance in the first two columns of a six-column table. Use columns three...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1,...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 (The following information applies to the questions displayed below) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date Chaded Trial Balance Acants receivable 12.00 90.000 Meeu. Depreesation office equip 24.000 10.100 20,000 50.000...
From the following list of steps in the accounting cycle, identify what two steps are missing:
From the following list of steps in the accounting cycle, identify what two steps are missing:a. Transactions are analyzed and recorded in the journal.b. An unadjusted trial balance is prepared.C. Adjustment data are assembled and analyzed.d. An optional end-of-period spreadsheet is prepared.e. Adjusting entries are journalized and posted to the ledger.f. An adjusted trial balance is prepared.g. Closing entries are journalized and posted to the ledger.h. A post-closing trial balance is prepared.Select the steps in the accounting cycle in their...
BRIEF EXERCISES BE4-1 The steps in using a worksheet are presented in random order below. List the steps in the proper order by placing numbers 1-5 in the blank spaces. (a) Prepare a trial balance on the worksheet. (b) Enter adjusted balances. Extend adjusted balances to appropriate statement columns. (d) Total the statement columns, compute net income (loss), and complete the worksheet. (e) Enter adjustment data. BE4-2 The ledger of Van Heiden Company, NV includes the following unadjusted balances. Pre...
BE 4-7 Using data in BE4-3,identity the accounts that would be
included in a post closing trial bala
nts apped Depress and Accounts wrial balance colu coreciation Exper counts Payable. In ompleting the Accounting Cycle elecany: Accuenue, Supp balance sheet Cr., etc.) et Cr, etc.) to when shows BE4-3 The following selected accounts appear in the adjusted tria worksheet for Ashram Company: Accumulated Depreciation, Den Capital Owner's Drawings, Service Revenue, Supplies, and Acco financial statement column (income statement Dr., balance...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
List the following steps in preparing a work sheet in their proper order by selecting numbers 1-5 from the drop down Sort amounts from the adjusted trial balance to the proper financial statement columns Total each statement column, determine net income or not loss and balance the columns c. Prepare an adjusted trial balance Enter required accounts and balances in the Unadjusted Till Balance columns 1. Enter necessary adjustments in the adjustments column e < Prev 9 a 20 33...
Appendix: Completing an end-of-period spreadsheet List (a) through (j) in the order they would be performed in preparing and completing an end-of-period spreadsheet. a. Add the Debit and Credit columns of the Unadjusted Trial Balance columns of the spreadsheet to verify that the totals are equal. b. Add the Debit and Credit columns of the Balance Sheet and Income Statement columns of the spreadsheet to verify that the totals are eq c. Add or deduct adjusting entry data to trial...
steps are included in the photos
QS 3-22 Identifying the accounting cycle LO C2 List the steps of the accounting cycle in their proper order. 1. Analyzing transactions and events. Analyzing transactions and events. co Covo AWN Journalizing and posting adjusting entries. Journalizing and posting closing entries. Journalizing transactions and events. Posting the journal entries. LLLLLL Posting the journal entries. Preparing the adjusted trial balance. Preparing the financial statements. Preparing the post-closing trial balance. Preparing the unadjusted trial balance.
The following data are taken from the unadjusted trial balance of the Westcott Company at December 31. Each account carries a normal balance. Set up a 10-column work sheet to answer the requirements. esclse. Preparing unadjusted and adjusted trial balances, including the adjustments P1 56 $ 6 Accounts Payable..... Accounts Receivable Accumulated Depreciation-Equip.. Cash Equipment Prepaid Insurance...... Revenue............. Salaries Expense....... Supplies W. Westcott, Capital .... 15 $18 75 18 24 42 W. Westcott, Withdrawals.. . Unearned Revenue .......... Utilities Expense...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 (The following information applies to the questions displayed below) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date Chaded Trial Balance Acants receivable 12.00 90.000 Meeu. Depreesation office equip 24.000 10.100 20,000 50.000...
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