For each transaction below: 1 ) First, record the necessary journal entry ( utilize the Chart of
Question:
For each transaction below:
First, record the necessary journal entry utilize the "Chart of Accounts" below Add additional rows for your journal entries if needed.
After recording each entry, post the effects of the Journal Entry to the appropriate Taccounts. Use the sign in the Taccounts to link and post each journal entry.
Link the ending balance for each Taccount from Part # into the Trial Balance on the "Financial Statements" tab make sure your trial balance balances before moving on
Place each account and it's respective balance into their proper places in the financial statements. You should show each account that has an ending balance in the financial statements exclude accounts with $ balances Format the financial statements so they're clean and easy to follow; you may need to add rows or delete rows. Start with the Income Statement, then use your net income from the income statement to complete the Statement of Retained Earnings, and then move onto completing your balance sheet.
Once you've completed you financial statements, review your work to ensure there are no errors does your balance sheet balance?
Fill out the journal entries for these.