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Examine the adjusted trial balance

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Reference no: EM131712117

Examine the adjusted trial balance. Then examine the shell financial statements that follow. Select the boxed areas within the shell financial statements and use the drop-down pick list to determine which account logically would appear in the indicated location.

A correct selection will cause the appropriate dollar amount to populate within the financial statements and place a check mark beside the item within the adjusted trial balance. Continue until all amounts within the trial balance have been "checked off" and the financial statement totals have been shaded green.

R2. Based on R1, prepare the closing journal entries.

R3. Based on R1 and R2, prepare the post closing trial balance. Pay attention to the difference between this trial balance and the adjusted trial balance

R4. Company ABC got a 10-year loan of $1000,000 from the bank on 7/1/2015. The annual interest rate is 4% and is paid every 7/1. Record the journal entries on the following dates i) without and ii) with reversing journal entries.

Attachment:- Financial statements.xlsx

Reference no: EM131712117

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