Requirements: A: Create a General Journal ( Record the events in general journal format. Assume that the
Question:
Requirements:
A: Create a General Journal Record the events in general journal format. Assume that the perpetual inventory method and gross method is used.
B: Post the beginning balances and the events to the Taccounts. Note that these ledger accounts will also be used when posting the closing entry that is created in Part e
C: Prepare a multistep income statement, a statement of changes in stockholdersequity a balance sheet, and a statement of cash flows for Year
D: Use a single general journal entry to close all revenue, gain, and expense accounts to the retained earnings account. Post the journal entry to the ledger accounts and prepare a postclosing trial balance.
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward