Record the January transactions in a cash payments journal and a two-column general journal. Post the journals
Question:
Record the January transactions in a cash payments journal and a two-column general journal.
Post the journals to the general ledger.
Prepare a trial balance at January 31, 2014, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information.
Office supplies at January 31 total $900.
Insurance coverage expires on October 31, 2017
Annual depreciation on the equipment is $1,500.
Interest of $50 has accrued on the note payable.
Prepare a multiple-step income statement and an owner's equity statement for January and a classified balance sheet at the end of January.
Prepare and post adjusting and closing entries.
Prepare a post-closing trial balance, and determine whether the subsidiary ledgers agree with the control accounts in the general ledger.
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley