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This is the first special problem, SP1, in this course. It uses the trial balance for the GeneralFund of Jennings that you have already used to prepare financial statements -- the statementof revenues expenditures and other changes in fund balance and the balance sheet -- as aregular homework problem.As the SP, you prepare the worksheet that could have been prepared before writing up thefinancial statements. Because you have already completed the financial statements and the solutions are posted,you know the correct amounts for this worksheet.The original problem gives you the trial balance in roughly alphabetical order. For the worksheet, you need to put the accounts in chart of accounts order: assets, then liabilities,then permanent equity (fund balance) and then temporary equity accounts.Your worksheet will list the accounts in the left-most column. Then, the trial balance numbers will be shown in the next two columns, debit and credit. Show the totals of the debits andcredits which would equal.Then, you have two columns for the statement of revenues, expenditures and changes infund balance. This statement just reports changes to fund balance, not the fund balance itself.Then, you have two columns for the balance sheet.In all, you will have a simple closing worksheet with a column of account titles and three setsof debit/credit columns.Please complete and submit this on time or as soon as you can. You can use any format that can be attached to a journal posting in Blackboard. Submit your problem as an attachment to a new journal posting. You can ask questions in the journal
Jane Erving, a newly hired accountant wanting to impress her boss, stayed late one night to ana- lyze the long-distance calls by area code and time of day placed. She determined the monthly cost for the previous 12 months by hour and area code cal..
myron is a barber who does his own accounting for his shop. when he buys supplies he routinely debits supplies expense.
Prepare an excel worksheet with 3 tabs. A fair value allocation that shows the calculation of goodwill relative to the acquisition, and calculates the annual amount of amortization. (Hint: not all of the goodwill on Polly Co.'s balance sheet relat..
long-term capital gains and already has the basis reported to the IRS by the broker
Determing ending inventory, cost of goods sold under FIFO, LIFO and Average. Which cost flow method results in lowest inventory amount for the balance sheet, and the lowest cost of goods sold for the income statement.
ACCT20071 - Foundations in Accounting - Write a research essay to critically evaluate selected companies' commitment to corporate social responsibility (CSR) and/or sustainable developmentas disclosed in annual reports/sustainable development repo..
Indicate the likely impact to stakeholders when financial statements are restated.
Why are ethical fundamentals important in the accounting field and for the business? Who are the users of accounting? Explain
Nabisco is planning to erect new manufacturing campus in Raleigh, North Carolina. Calculate payback, NPV and IRR and make a recommendation for project approval
green rider makes three types of electric scooters. the companys total fixed cost is 1080000000. selling prices
Dexter Construction Corporation is building a student condominium complex; it started on January 1, Year 1.
ACCT20074 Assessment - The social contract in accounting. Explain the relevance and application of the social contract to Legitimacy Theory in accounting
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