Describe journal in chronological order, Business Law and Ethics

Assignment Help:

For the transactions provided below for the Braves Corporation during 2011, complete the following steps of the accounting cycle (round all answers and journal entries to the nearest whole dollar):

1. Journalize all the given transactions for 2011 in the general journal. Record the transactions in the journal in chronological order.

2. Post the journal entries to the ledger. Current balances are provided in the ledger accounts.

3. Prepare a 12/31/11 unadjusted trial balance in a 10-column worksheet.

4. Journalize all adjusting entries needed at 12/31/11 (Braves Corporation does not record monthly adjusting entries, only year-end adjusting entries).

5. Post the adjusting journal entries to the ledger. You may use General & Administrative Expense to record any additional rent expense, supplies expense, and insurance expense.

6. Complete the 10-column worksheet.

7. From the completed worksheet, prepare a multi-step income statement, classified balance sheet, and statement of retained earnings for the year 2011.

8. Journalize all closing entries needed at 12/31/11.

9. Post the closing entries to the ledger.

10. Prepare a post-closing trial balance at 12/31/11.

11. Round to the nearest dollar in your computations (i.e., $133.33 should be $133, and $198.57 should be $199). None of your journal entries should have cents associated with them.


Related Discussions:- Describe journal in chronological order

Rights and duties justice and fairness, please explain these topic to me in...

please explain these topic to me in detail as soon as possible so that i can make my assignment accordingly

Explain the laws and rules of atlantic case, Explain the Laws and rules of ...

Explain the Laws and rules of atlantic case There are several laws and rules which were applicable to this situation: Paris Convention on Aerial Navigation of 1919 H

Provisional contracts - law of contract, Provisional Contracts - Law of Con...

Provisional Contracts - Law of Contract However occasionally an agreement may be illustrated through the parties thereto as being as "a provisional agreement" until a legally

Explain the modes of acquiring territory, Explain the modes of  acquiring ...

Explain the modes of  acquiring territory There are certain modes of  acquiring territory. Before 1948, there were a  lot  of  territories available and mostly areas were unkno

What are the functions of the employment relations, Question 1: (A) W...

Question 1: (A) What are the functions of the Employment Relations Tribunal established under the Employment Relations Act 2008? (B) What are the functions of the Commissi

Non-accepting shareholders, Non-accepting shareholders: Acceptance on ...

Non-accepting shareholders: Acceptance on the required scale must be obtained within a maximum of four months from the date of the offer.  The position then is that: (a) at

Distinguish between primary and secondary stakeholder, Question 1: a. ...

Question 1: a. Social responsibility is the duty to do what is best for the good of society. Critically analyze the ethical obligations of a business are toward the society.

Special crossing - crossing on a cheque, Special Crossing - Crossing on a C...

Special Crossing - Crossing on a Cheque Although S.76 (2) with such provides like "whether a cheque bears across its face an addition of, such the name like of a banker, whether

Explain the concept of salomon principle, Question 1: (a) Explain the c...

Question 1: (a) Explain the concept of Salomon Principle and critically analyse its importance in company Law. (b) Discuss why and in what circumstances the court will pierc

Powers and duties - Company secretary, Powers and Duties:  The powers ...

Powers and Duties:  The powers and duties of the secretary depend on the size and nature of the company and the personal contractual arrangements that it makes with him. Howev

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd