Question

As stated in its annual report, Unik Computer Corporation is an information technology company, developing and marketing hardware, software, solutions, and services. The following trial balance lists accounts that Unik uses. Assume that the balances are unadjusted at the end of the fiscal year ended December 31, 2015:

Required:
1. Based on the information in the unadjusted trial balance, list the deferred accounts that may need to be adjusted at December 31 and the related statement of earnings account in each case (no computations are necessary).
2. Based on the information in the unadjusted trial balance, list the accrual accounts that may need to be recorded at December 31 and the related statement of earnings account in each case (no computations are necessary).
3. Which accounts should be closed at the end of the year? Why?


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  • CreatedAugust 04, 2015
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