Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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The Effect Of Prepaid Taxes On Assets And Liabilities
Many businesses estimate tax liability and make payments throughout the year (often quarterly). When a company overestimates its tax liability, this results in the business paying a prepaid tax. Prepaid taxes will be reversed within one year but can resu…
Final Accounts
Financial accounting is one of the branches of accounting in which the transactions arising in the business over a particular period are recorded.
Ledger Posting
A ledger is an account that provides information on all the transactions that have taken place during a particular period. It is also known as General Ledger. For example, your bank account statement is a general ledger that gives information about the a…
Trial Balance and Final Accounts
In accounting we start with recording transaction with journal entries then we make separate ledger account for each type of transaction. It is very necessary to check and verify that the transaction transferred to ledgers from the journal are accurately…
Adjustment Entries
At the end of every accounting period Adjustment Entries are made in order to adjust the accounts precisely replicate the expenses and revenue of the current period. It is also known as end of period adjustment. It can also be referred as financial repor…
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Chapter 2, Problem 5R

The trial balance of Wikki Cleaners at December 31, 2012, the end of the current fiscal year, is as follows:

Chapter 2, Problem 5R, The trial balance of Wikki Cleaners at December 31, 2012, the end of the current fiscal year, is as

Information for the adjusting entries is as follows:

  1. a. Cleaning supplies on hand on December 31, 2012, $18,750.
  2. b. Insurance premiums expired during the year, $1,800.
  3. c. Depreciation on equipment during the year, $21,600.
  4. d. Wages accrued but not paid at December 31, 2012, $1,830.

Use the space below to prepare an income statement, a statement of retained earnings, and a balance sheet, using the corrected worksheet (F1WORK4).

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Excel Applications for Accounting Principles

Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...Ch. 2 - The trial balance of Wikki Cleaners at December...
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