Exercise 02.15 – T-Accounts w/ Journal Entries
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given a list of journal entries along with beginning balances… post each to a T-account.
Given a list of journal entries along with beginning balances… post each to a T-account.
Given a list of transactions… record each transaction, post each transaction to a T-account, and lastly use the T-account balances to create a trial balance.
Given information regarding items that need further consideration for financial statements… determine the adjusted amount of net income at year-end.
Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31.
NOTE: This solver answers TWO separate Huskies problems! The second calculator is below the first one! Involves two questions. First question gives a list of transactions where you need to record adjusting entries at year-end. Second question gives you a list of transactions where you need to calculate the effect on net income.
Contains two questions. First asks you to prepare to adjust journal entries given a list of transactions. Second asks you to determine the effect that the transactions would have on the assets, liabilities, and equity on the balance sheet.
Given a list of transactions for the company… prepare to adjust journal entries for the year-end.
Given a list of transactions… prepare adjusting journal entries.
Update account balances for the year-end information by recording any necessary adjusting entries. Rent, Revenue, Salary, Supplies.
Calculate the balance of retained earnings each year for each company.