Problem 3.01B – For Each Transaction
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given transactions… determine the amount of revenue or expense under accrual and cash basis.
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Given transactions… determine the amount of revenue or expense under accrual and cash basis.
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Given the cash that was paid for different expenses and balances at year beginning and year-end… prepare an accrual-basis income statement.
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Given cash collected from customers and cash paid along with accounts receivable, prepaid insurance, supplies, and salaries payable… prepare an accrual-basis income statement.
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Given information needed to make adjusting entries… prepare journal entries for year-end.
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Given information regarding the company’s sales and equipment… prepare to adjust entries.
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Given the information that occurred throughout the year… prepare the year-end adjusting journal entries.
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Given information about the company’s fiscal year… prepare adjusting entries.
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Prepare all 4 financial statements.
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Given an adjusted trial balance… prepare an income statement, statement of stockholders’ equity, and classified balance sheet.
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Record closing entries and prepare a post-closing trial balance.
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