MEGA Brands Inc. designs, manufactures, and markets high- quality toys and stationery products. The company has manufacturing facilities or distribution centres in 14 countries. Its products are marketed worldwide in over 100 countries under leading brands such as MEGA BLOKS, ROSE ART, and BOARD DUDES. The following is a list of accounts and amounts reported in the company’s financial statements for 2012. The accounts have normal debit or credit balances and their balances are rounded to the nearest thousand dollars. The company’s fiscal year ends on December 31.
Prepare an adjusted trial balance at December 31, 2012. List the accounts in the following order: assets, liabilities, shareholders’ equity, revenues, and expenses. How did you determine the amount for retained earnings (deficit)?

  • CreatedAugust 04, 2015
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