AP10.01 – Great Adventures
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Record each transaction, and prepare the shareholders’ equity section of the balance sheet.
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Record each transaction, and prepare the shareholders’ equity section of the balance sheet.
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Prepare the statement of cash flows using the indirect method.
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Calculate risk ratios and profitability ratios for Year 2.
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Record each of 11 transactions in July for Great Adventures.(stock, prepaid insurance, prepaid insurance, legal fees, supplies, advertising, inventory, revenue)
NOTE: FOR THE FULL ENTIRE CYCLE PROJECT, CLICK HERE. THIS IS NOT THE FULL BIG END OF THE CHAPTER 4 CYCLE PROJECT!
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Record TEAM adventure transactions and prepare the adjusting entry for uncollectable accounts.
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Calculate sales revenue, cost of goods sold, ending inventory. Prepare the gross profit section of a partial income statement, and record any necessary adjustment on December 31st.
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Record the expenditures related to the vehicle, prepare a depreciation schedule (straight-line method), record the expenditures related to the vehicle maintenance, and record the depreciation expense and any other adjustments.
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Given the financial statements for the business just started – create the corrected income statement, statement of retained earnings, and balance sheets.
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Given the prepaid insurance along with a list of transactions regarding payroll, interest revenue, supplies, unearned revenue, and depreciation… prepare adjusting entries.
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Given a trial balance… compute the total assets, total liabilities, and net income or net loss.
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