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The transactions for Mulberry, Inc., for the month of September

The transactions for Mulberry, Inc., for the month of September 2012 have been posted to the accounts

Question:

The transactions for Mulberry, Inc., for the month of September 2012 have been posted to the accounts as follows:

Requirements
1. Prepare the journal entries that served as the sources for the six transactions.
2. Calculate the ending balance in each account.
3. Prepare the trial balance for Mulberry, Inc., at September 30, 2012.
4. Prepare a balance sheet for Mulberry, Inc., as of September 30,2012.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

Transcribed Image Text:

Building_ Supplies 800 Equipment (4) 6,000 (3) 75,000 Accounts Payable (6) 3002) 8005) 5,500 (3) 75,000 Notes Payable Common Stock ) 48,000 Cash (1) 48,000 (4) 6,000 (5) 5,500 300

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Journal DATE ACCOUNTS POST REF Dr Cr Sep 1 Cash 48000 Common stock 48000 Sold stock 2 Supplies 800 A...View the full answer

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Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Apr 29, 2014 02:40 AM

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