Problem 2.04 & 2.05 – Eli’s Insurance Services
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Given a list of transactions… record each along with determining the impact on the accounting equation.
Given a list of transactions… record each along with determining the impact on the accounting equation.
For each transaction, determine revenue and expense under accrual-basis and cash-basis in a grid.
Prepare all 4 financial statements.
Record closing entries and prepare a post-closing trial balance.
Given cash records and bank statements along with additional information… prepare a bank reconciliation while also recording necessary adjustments.
Given a list of events that occurred within the first two years… record each, post transactions, and calculate net accounts receivables.