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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Your numbers will vary.
Given account balances for the year… prepare an adjusted trial balance.
Your numbers will vary.
Given account balances at the year-end… prepare a post-closing trial balance.
Your numbers will vary.
Given common stock, retained earnings, dividends, service revenue, salaries, and rent … complete the statement of stockholders’ equity.
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Prepare journal entries, adjusting entries, adjusted trial balance, income statement, balance sheet, statement of stockholders equity, balance sheet, closing entries, post-close trial balance.
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For each situation, determine the date for which the company recognizes the revenue under accrual-basis accounting.
For each situation, determine the date for which the company recognizes the expense under accrual-basis accounting.
For each situation, determine the date for which the company recognizes revenue using cash basis accounting.
For each situation, determine the date for which the company recognizes the expense using cash-basis accounting.
Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31.
Your numbers will vary.
Update account balances for the year-end information by recording any necessary adjusting entries. Rent, Revenue, Salary, Supplies.
Your numbers will vary.