What is the general journal, journal entries, general ledger , An unadjusted trial balance , Year-end adjusting entries. , An adjusted trial balance , Year-end financial statements including a multi-step income statement and a classified balance sheet and a Statement of Retained Earnings Closing entries ,A post-closing trial balance, Reversing entries, given data below. please explain how these are calculated

  
 

 

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A B. D F G K M N R General Journal Incognito Inc. Date Accounts Particulars Ref. Debit Credit Turn 0 Cash 100 $1,500 Incognito Inc, Captial 600 $1,500 Turn 1 Buildings-Houses Cost of houses purchased for $120 210 $120 Cash 100 $120 Turn 2 Free space $0 $0 Turn 3 Investments-Railroad Cost of purchasing railroad companies for $200 221 $200 Cash 100 $200 Turn 4 Buildings-Houses Cost of houses purchased for $260 210 $260 Cash 100 $260 Turn 5 Investments-Railroad Cost of purchasing railroad companies for $260 221 $200 Cash 100 $200 Turn 6 Cash Revenue earned from passing GO 100 $200 Salary Revenue 600 $200 Buildings-Houses Cost of houses purchased for $60 210 $60 Cash 100 $60 Turn 7 Rent Expense Cost of landing on property owned by another player for $6 700 $6 Cash 100 $6 Turn 8 Free space $0 $0 Turn 9 Buildings-Houses Cost of houses purchased for $220 210 $220 Cash 100 $220 Turn 10 Free space A B. D F G K M N R General Journal Incognito Inc. Date Accounts Particulars Ref. Debit Credit Turn 0 Cash 100 $1,500 Incognito Inc, Captial 600 $1,500 Turn 1 Buildings-Houses Cost of houses purchased for $120 210 $120 Cash 100 $120 Turn 2 Free space $0 $0 Turn 3 Investments-Railroad Cost of purchasing railroad companies for $200 221 $200 Cash 100 $200 Turn 4 Buildings-Houses Cost of houses purchased for $260 210 $260 Cash 100 $260 Turn 5 Investments-Railroad Cost of purchasing railroad companies for $260 221 $200 Cash 100 $200 Turn 6 Cash Revenue earned from passing GO 100 $200 Salary Revenue 600 $200 Buildings-Houses Cost of houses purchased for $60 210 $60 Cash 100 $60 Turn 7 Rent Expense Cost of landing on property owned by another player for $6 700 $6 Cash 100 $6 Turn 8 Free space $0 $0 Turn 9 Buildings-Houses Cost of houses purchased for $220 210 $220 Cash 100 $220 Turn 10 Free space

Answer rating: 100% (QA)

1General journal is a daybook or journal which is used to record transactions relating to adjustment entries opening stock accounting errors etc It is recorded with the help of supporting documents su... View the full answer