A completed worksheet for The Warrior Group is shown on the bottom of these two pages. INSTRUCTIONS
Question:
INSTRUCTIONS
1. Record balances as of December 31, 2013, in the ledger accounts.
2. Journalize (use 3 as the page number) and post the adjusting entries. Use account number 131 for Prepaid Advertising and the same account numbers for all other accounts shown on page 186 for Wells' Consulting Services chart of accounts.
3. Journalize (use 4 as the page number) and post the closing entries.
4. Prepare a postclosing trial balance.
Analyze:
How many accounts are listed in the Adjusted Trial Balance section? How many accounts are listed on the postclosing trial balance?
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Step by Step Answer:
1 The ledger balances have been posted in the ledger book in further solutions below 2 Supplies and prepaid advertising are assets that need to be decreased as and when used 2400 and 3000 represents t...View the full answer
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Related Book For 
College Accounting A Contemporary Approach
ISBN: 978-0073396958
2nd edition
Authors: David Haddock, John Price, Michael Farina
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