Reference no: EM131161726
INTERMEDIATE ACCOUNTING I COMPREHENSIVE PROBLEM
Instructions: You are the new staff accountant for Salem Bread Company. Salem is a wholesale bread distribution company which buys and distributes gourmet artisan breads to fine restaurants and other upscale establishments. You were hired on January 1, 2016 and are responsible for all phases of the accounting cycle. Salem uses the perpetual method of accounting for inventory and a manual accounting system (i.e. all your work should be done by hand using the attached forms).
Upon review of Salem's accounting manual, you find the following list of monthly procedures:
1) Post opening trial balance to T-Accounts
2) Analyze and prepare journal entries for transactions
3) Prepare an unadjusted trial balance
4) Analyze and prepare journal entries for January 2016 adjustments
5) Post the adjusting journal entries to the T-accounts
6) Prepare an adjusted trial balance
7) Prepare an income statement, statement of retained earnings, and balance sheet for January
8) Prepare and journalize closing entries
9) Post the closing entries to the T-accounts
10) Prepare a post-closing trial balance
11) Prepare and journalize the February 1st reversing entries
Being a new and conscientious staff accountant at Salem, you decided to use Salem's procedure list above and complete steps 1 through11 for the month of January 31, 2016 using the attached information.
For Other Details check the attached file.
Attachment:- Comprehensive-Project.rar
|
Frequencies in the range of mega hertz
: Which of the following oscillators is suitable for frequencies in the range of mega hertz?
|
|
Discuss the different ways client-professional relationship
: Which endings do you think would be easier for both the client and the professional? Which do you think might be harder? Why? How could you, as the professional, ensure a smooth transition or ending for your client? What techniques would you use
|
|
Connected the capacitor begins to charge
: A10 M? resistor is connected in series with a 1 μF capacitor and a 12 V battery. When the circuit is connected the capacitor begins to charge. a) At what time will the capacitor have a 0.2μC charge? b) What is the current at this time? c) What is ..
|
|
Radii of the deutron path and the alpha particle
: Compare their kinetic energies. If the radii of the proton's circular path is 10cm, what are the radii of the deutron's path and the alpha particle's path? u is the atomic mass unit.
|
|
Analyze and prepare journal entries for transactions
: Analyze and prepare journal entries for transactions - Prepare an unadjusted trial balance - Analyze and prepare journal entries for January 2016 adjustments.
|
|
What is the force acting on the wire
: A wire lies along an x axis from x = 0 to x = 100m , and carries a current of 3 A in the positive x direction. It is immersed in a magnetic field given by; B = ( 4T i -0.6 T j). What is the force acting on the wire?
|
|
Domestic currency undervalued against a foreign currency
: If a country wants to keep the domestic currency undervalued against a foreign currency:
|
|
Earth magnetic field points downward
: An airplane flies due west in the northern hemisphere where the Earth's magnetic field points downward and to the north. On which wing, left or right, are some of the conduction electrons moved to the wingtip by the magnetic force on them?
|