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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 30
Journalizing and posting adjusting and closing entries and preparing a postclosing trial balance.
A completed worksheet for The Warrior Group is shown on the bottom of these two pages.
INSTRUCTIONS
1. Record balances as of December 31, 2013, in the ledger accounts.
2. Journalize (use 3 as the page number) and post the adjusting entries. Use account number 131 for Prepaid Advertising and the same account numbers for all other accounts shown on page 186 for Wells' Consulting Services chart of accounts.
3. Journalize (use 4 as the page number) and post the closing entries.
4. Prepare a postclosing trial balance.
Analyze: How many accounts are listed in the Adjusted Trial Balance section? How many accounts are listed on the postclosing trial balance?
A completed worksheet for The Warrior Group is shown on the bottom of these two pages.
INSTRUCTIONS
1. Record balances as of December 31, 2013, in the ledger accounts.
2. Journalize (use 3 as the page number) and post the adjusting entries. Use account number 131 for Prepaid Advertising and the same account numbers for all other accounts shown on page 186 for Wells' Consulting Services chart of accounts.
3. Journalize (use 4 as the page number) and post the closing entries.
4. Prepare a postclosing trial balance.
Analyze: How many accounts are listed in the Adjusted Trial Balance section? How many accounts are listed on the postclosing trial balance?
Explanation
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(1)
The ledger balances have been posted...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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