Requirements: 1. Journalize and post normal monthly transactions to general ledger accounts in T-accounts. 2. Prepare a
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Question:
- 1. Journalize and post normal monthly transactions to general ledger accounts in T-accounts.
- 2. Prepare a trial balance as at December 31, 2023.
- 3. Journalize and post adjusting entries in the same T accounts as requirement #1 above.
- 4. Prepare an adjusted trial balance as at December 2023.
- 5. Generate income statement, statement of owner's equity, and classified balance sheet for the year ended December 31, 2023. (Note: November 30, 2023 Trial Balance represents the accumulated revenue and expenses of the first 11 months in 2023. Tax rate: 0% - There is no tax expense).
- 6. Journalize and post-closing entries in the same T accounts in requirement #1 above.
- 7. Prepare a post-closing trial balance as at December 2023.
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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