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

Arbitral award, Arbitral Award However the decision of the arbitral tr...

Arbitral Award However the decision of the arbitral tribunal is referred to like an arbitral award. Therefore the terms of employment really require the arbitrator that must m

Advise as conflict of interest, A is large property developer who is listed...

A is large property developer who is listed on the Kuala Lumpur Stock Exchange. B is a building contractor. A employed B in 2008 to build a large office complex comprising 3 towers

Election of chairman, ELECTION OF CHAIRMAN:           S.134(d) provide...

ELECTION OF CHAIRMAN:           S.134(d) provides that, unless the articles of a company contain a contrary provision, any member elected by the members present at a meeting m

Lost by company personnel, In a business context, there are thousands of le...

In a business context, there are thousands of legal claims that happen frequently in a company's course of operations. Frequently, the management team must come to together to veri

What are the ways of aggregate demand policy, What are the ways of aggregat...

What are the ways of aggregate demand policy To illustrate some of the issues involved in policy coordination we will focus on monetary policy. We discuss three ways in which

Creditors meeting - winding up, Creditors meeting - winding up: The cr...

Creditors meeting - winding up: The creditors' meeting is convened for the same day at a later time than the members' meeting or it is held the following day.  One of the dire

Explain salient features of the constitution of mauritius, QUESTION 1 T...

QUESTION 1 The proliferation of tribunals, enquiries and quasi-judicial bodies constitutes the risk of a new type of despotism in running public affairs. How do the courts ensu

Difference fixed and floating charge, Part A Companies can raise fina...

Part A Companies can raise finance by borrowing money and securing the debt by way of fixed or floating charge. Using case law in your answer explain what is the distinction b

Explain the sovereign of state immunity, Explain the sovereign of state imm...

Explain the sovereign of state immunity Immunity relates to the sovereign of state immunity and act of state doctrine. This is the most complicated immunity available and relat

Analytical judgment, FutureEd corp., a Bangladesh based catering company ha...

FutureEd corp., a Bangladesh based catering company has decided to extend its catering business in the main divisional cities. They have come up with the decision to open up some r

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