NAME: ACC 104 SP17 EXAM CHAPTER 3 8. (60 Points) Using the adjusted trial balance of...

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NAME: ACC 104 SP17 EXAM CHAPTER 3 8. (60 Points) Using the adjusted trial balance of Dodson Containers Inc. presented below and the schedules and forms on the following pages: a. prepare the income statement; b. prepare the statement of retained earnings; c. prepare the balance sheet. d. prepare the closing entries. Cash...... Accounts receivable. Prepaid insurance. Office supplies Office equipment.. Accumulated depreciation-office equipment Buildings.......... Accumulated depreciation-buildings.... Land...... Wages Payable........ Property taxes payable.. Interest payable....... Unearned rent.. ****** DODSON CONTAINERS, Inc. Adjusted Trial Balance December 31 Long-term notes payable..... Common stock Retained earnings Dividends Rent earned Wages expense Utilities expense. Property taxes expense. Insurance expense...... ****** Office supplies expense..... Depreciation expense-office equipment... Depreciation expense-buildings..... Interest expense.. Totals ....... $ 3,050 400 830 80 4,200 98,000 115,000 21,000 29,000 2,900 2,400 5,800 $ 1,100 28,000 880 1,400 2,200 460 150,000 1,000 39,340 67,500 250 400 5,570 3,000 $291.880 $291,880 NAME: ACC 104 SP17 EXAM CHAPTER 3 8. (60 Points) Using the adjusted trial balance of Dodson Containers Inc. presented below and the schedules and forms on the following pages: a. prepare the income statement; b. prepare the statement of retained earnings; c. prepare the balance sheet. d. prepare the closing entries. Cash...... Accounts receivable. Prepaid insurance. Office supplies Office equipment.. Accumulated depreciation-office equipment Buildings.......... Accumulated depreciation-buildings.... Land...... Wages Payable........ Property taxes payable.. Interest payable....... Unearned rent.. ****** DODSON CONTAINERS, Inc. Adjusted Trial Balance December 31 Long-term notes payable..... Common stock Retained earnings Dividends Rent earned Wages expense Utilities expense. Property taxes expense. Insurance expense...... ****** Office supplies expense..... Depreciation expense-office equipment... Depreciation expense-buildings..... Interest expense.. Totals ....... $ 3,050 400 830 80 4,200 98,000 115,000 21,000 29,000 2,900 2,400 5,800 $ 1,100 28,000 880 1,400 2,200 460 150,000 1,000 39,340 67,500 250 400 5,570 3,000 $291.880 $291,880

Answer rating: 100% (QA)

Step 1 is to prepare closing entries W... View the full answer