BE 2.12 – Timmons Tool and Die Corporation
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Prepare the necessary closing entries.
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Prepare the necessary closing entries.
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Given a list of cash flows regarding salaries, utilities, and advertising they ask you to complete a table for accrual net income.
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Asks to analyze transactions and fill out a grid with assets, liabilities, paid-in capital, and retained earnings
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Post the 9 transactions to T-accounts. Make a trial balance.
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Create journal entries to record each of the transactions and events listed.
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Pair Item in A-List With Item in B-List Associated
Create the necessary 6 adjusting entries at December 31 for each of the situations.
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Asks to make year-end adjusting entries (life insurance, loan, rent, depreciation, salaries)
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Asks you to prepare closing entries.
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Find the cost of supplies, adjusting entry for insurance, accrued salaries, and rent revenue.
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