From the following ledger balances and additional data on page 602, do the following for Callahan Lumber
Question:
a. Prepare the worksheet.
b. Prepare the income statement, statement of owners equity, and balance sheet.
c. Journalize and post adjusting and closing entries. (Be sure to put beginning balances in the ledger first.)
d. Prepare a post-closing trial balance.
e. Journalize the reversing entry for wages.
Additional Data (for Problem 13B-4)
Additional Data
a. and b. Merchandise inventory, December 31¦¦¦¦¦¦¦¦¦¦.. $4,700
c. Lumber supplies on hand, December 31¦¦¦¦¦¦¦¦¦¦¦¦. $80
d. Insurance expired¦¦¦¦¦¦¦¦¦¦..¦¦¦¦¦¦¦¦¦¦... $70
e Amortization for the year¦¦¦¦¦¦¦¦¦¦..¦¦¦¦¦¦¦¦ $ 460
f. Accrued wages on December 31¦¦¦¦¦¦¦¦¦¦..¦¦¦¦¦. $ 165
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Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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