Question: For assignment 5, please prepare problem 4-5B on page 210. Narrations in the journal are not required, but cross referencing in the journal and ledger

 For assignment 5, please prepare problem 4-5B on page 210. Narrations
in the journal are not required, but cross referencing in the journal

For assignment 5, please prepare problem 4-5B on page 210. Narrations in the journal are not required, but cross referencing in the journal and ledger is required. Use the account form for the general ledger (provided on Canvas), and just create one journal (all in one place) and one general ledger (again, all in one place, i.e., not divided across the assignment by AEs and closing entries). Ignore GST and income taxes. Ignore the instructions in the textbook and do the following instead: (a) Follow instruction (a) in the text. Leave enough space in the journal and ledger for parts (c) and (f) (b) Follow instruction (b) in the text, except that no worksheet is required. (c) In the general journal, page J2, prepare the adjusting entries suggested by (c) (1)-(5) in the text, and post these entries to the appropriate ledger accounts. The AJEs and postings should just continue from (a) above. Leave enough space in the journal and ledger for part.I (d) Prepare an adjusted trial balance in good form. No worksheet is required. e) Prepare a Statement of Comprehensive Income for July and a Balance Sheet as at 31 July (f) Journalize and post the closing entries, using page J3 for the journal and carrying on with (8) Prepare a post-closing trial balance. 2017, in the form and format prescribed in class. the general ledger you created in (a) and (c) above. (h) Prepare a residual analysis, including accounts debited and credited, for the adjusting entry required by (c) (3)--the expiration of insurance. In this problem, there was no interest or tax expense. How would your sOCI from (e) change had these two expenses been in the adjusted trial balance? (i)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!