Problem 3.04A – Buzzard Bicycle
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given the information that occurred throughout the year… prepare the year-end adjusting journal 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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Given an income statement, statement of stockholders’ equity, and balance sheet… record adjusting entries along with preparing a post-closing trial balance.
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Given a general ledger for the company along with a summary of transactions made… set up t-accounts, record each transaction, post transactions to accounts, prepare an unadjusted trial balance, prepare an income statement, prepare a balance sheet, and record closing entries.
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Given T-accounts… calculate the cost of raw materials, indirect materials, indirect labor costs, costs of goods manufactured, unadjusted cost of goods sold, predetermined rate, ending work in process, direct materials cost, and applied overhead cost.
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Given a large list of transactions… prepare journal entries for each, prepare t-accounts, prepare journal entries for closing balances, and lastly to prepare an income statement.
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Given information about company balances, bank balances, and checks outstanding… prepare a bank reconciliation to calculate the ending balance.
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