Completing the accounting cycle from adjusted trial balance

Reference no: EM131815111

Question: Completing the accounting cycle from adjusted trial balance to post-closing trial balance with an optional worksheet Start from the posted T-accounts and the adjusted trial balance that Daniels Consulting prepared for the company at December 31.

Requirements: 1. Complete the worksheet at December 31. (optional)

2. Prepare an income statement for the month ended December 31.

3. Prepare a statement of retained earnings for the month ended December 31.

4. Prepare a classified balance sheet (report form) at December 31.

5. Journalize and post the closing entries at December 31. Denote each closing amount as Clo. and each account balance as Balance.

6. Prepare a post-closing trial balance.

Reference no: EM131815111

Questions Cloud

Discuss straight-line in the income statement : Depreciation Expense, $200 million: straight-line in the income statement; MACRS on the tax return

How new packaging as tedsbox may lead to better management : Describe how new packaging such as the TEDSBOX may lead to better management of returns in the food and beverage industry

Calculate the present value : Calculate the present value of $7,000 received six years from today if your investments pay

Determine their taxable income : Determine their taxable income for 2011 and income tax liability (show all components of your calculation for partial credit review)

Completing the accounting cycle from adjusted trial balance : Completing the accounting cycle from adjusted trial balance to post-closing trial balance with an optional worksheet Start from the posted T-accounts.

Compose a paragraph that applies a marxist reading : Which of the characters this week did you feel the most sympathy for? Who did you most identify with? Why? Who did you feel the least sympathy for? Why?

Are letters obsolete in a digital age : What are the pros and cons of using written communication versus digital communication?

Expectation theory of term structure of interest rates holds : If the unbiased expectations theory of the term structure of interest rates holds, what is the one-year interest rate expected one year from now, E(2r1)?

Hard time studying tcp-ip addressing for the exam : Your friend is having a hard time studying TCP/IP addressing for the exam. Pick one of your favorite websites and find its IP address

User Account

All Pages