College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
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Chapter 11, Problem 3PA

1.

To determine

Record the adjustments columns in general journal.

2.

To determine

Ascertain the net income for the year.

3.

To determine

Calculate the amount of ending capital.

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Students have asked these similar questions
A portion of the work sheet of Sadie's Flowers for the year ended December 31 is as follows: (image below) Required: 1. Determine the entries that appeared in the Adjustments columns and present them in general journal form on page 41.  2. Determine the net income for the year. 3. What is the amount ending capital?
For additional help, see the demonstration problem at the beginning of each chapter in your Working Papers.  The completed worksheet for Valerie Insurance Agency as of December 31 is presented in your Working Papers or in CengageNow, along with the general ledger as of December 31 before adjustments. Check Figure Post-closing trial balance total, $10, 170 Required 1. Write the name of the owner, M. Valerie, in the Capital and Drawing accounts. 2. Write the balances from the unadjusted trial balance in the general ledger. 3. Journalize and post the adjusting entries. 4. Journalize and post the closing entries in the correct order. 5. Prepare a post-closing trial balance.
How would I make a general journal for the end of a fiscal year using the income statement and balance sheet?

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College Accounting (Book Only): A Career Approach

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