Question

The pre-closing balances in the T-accounts of Naim Company at the end of the third year of operations,
December 31, 2014, follow. The 2014 adjusting entries are identified by letters.


Required:
1. Develop three 2014 trial balances for Naim Company using the following format:


2. Write an explanation for each adjusting entry for 2014.
3. Record the closing journal entry at the end of 2014.
4. What was the average income tax rate for 2014?
5. What was the average issue (sale) price per share of the capitalstock?


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  • CreatedJuly 01, 2014
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