BE 03.16 – Beavers Corporation
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Given account balances for the year… prepare an adjusted trial balance.
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Given account balances for the year… prepare an adjusted trial balance.
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Given account balances at the year-end… prepare a post-closing trial balance.
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Given common stock, retained earnings, dividends, service revenue, salaries, and rent … complete the statement of stockholders’ equity.
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Update account balances for the year-end information by recording any necessary adjusting entries. Rent, Revenue, Salary, Supplies.
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Calculate the balance of retained earnings each year for each company.
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Prepare the necessary closing entries and calculate the ending balance of Retained Earnings.
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Prepare the necessary closing entries, calculate the ending balance of Retained Earnings and Prepare a post-closing trial balance.
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Record the necessary closing entries at December 31, and Prepare a post-closing trial balance
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For each transaction, determine revenue and expense under accrual-basis and cash-basis in a grid.
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Record closing entries and prepare a post-closing trial balance.
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