Loose Leaf for Fundamental Accounting Principles
Loose Leaf for Fundamental Accounting Principles
23rd Edition
ISBN: 9781259687709
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 4, Problem 5BPSB
To determine

Concept Introduction:

Trial balance is prepared after posting all journal entries into journal and respective ledgers account, but before preparation of balance sheet, profit and loss and statement of change in owner’s equity. It is prepared to ensure that total amount in debit side equals to total amount in credit side. In trial balance the final balances of assets, liabilities incomes, expenses are shown.

Requirement -1:

To prepare:

We have to prepare Income statement, Statement of Owner’s equity and Balance sheet for the year 2017 from the adjusted trial balance given in question.

To determine

Requirement-2:

To prepare:

We have to prepare the six columns table for adjusted trial balance.

To determine

Requirement-3:

To prepare:

We have to prepare closing journal entries and have to post in the six-column table.

To determine

Requirement-4:

To determine:

We have to explain the impact of two assumption given in question in financial statements.

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Chapter 4 Solutions

Loose Leaf for Fundamental Accounting Principles

Ch. 4 - Prob. 11DQCh. 4 - 12. How do reversing entries simplify...Ch. 4 - If a company recorded accrued salaries expense of...Ch. 4 - Prob. 14DQCh. 4 - Prob. 15DQCh. 4 - Prob. 16DQCh. 4 - Prob. 17DQCh. 4 - Prob. 1QSCh. 4 - Prob. 2QSCh. 4 - Prob. 3QSCh. 4 - Prob. 4QSCh. 4 - Prob. 5QSCh. 4 - Prob. 6QSCh. 4 - Prob. 7QSCh. 4 - Prob. 8QSCh. 4 - Prob. 9QSCh. 4 - Prob. 10QSCh. 4 - Prob. 11QSCh. 4 - Prob. 12QSCh. 4 - Exercise 4-1 Extending adjusted account balances...Ch. 4 - Prob. 2ECh. 4 - Prob. 3ECh. 4 - Exercise 4-4 Completing a work sheet Pl The...Ch. 4 - Exercise 4-5 Determining effects of closing...Ch. 4 - Prob. 6ECh. 4 - Exercise 4-7 Preparing a work sheet and recording...Ch. 4 - Prob. 8ECh. 4 - Prob. 9ECh. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Exercise 4-13 Computing the current ratio A1 Use...Ch. 4 - Prob. 14ECh. 4 - Prob. 15ECh. 4 - Prob. 16ECh. 4 - Prob. 17ECh. 4 - Problem 4-1A Applying the accounting cycle C1 C2...Ch. 4 - Prob. 2APSACh. 4 - Prob. 3APSACh. 4 - Prob. 4APSACh. 4 - Problem 4-5A Preparing trial balances, closing...Ch. 4 - Prob. 6APSACh. 4 - Prob. 1BPSBCh. 4 - Prob. 2BPSBCh. 4 - Prob. 3BPSBCh. 4 - Prob. 4BPSBCh. 4 - Prob. 5BPSBCh. 4 - Prob. 6BPSBCh. 4 - Business Solutions P2 P3 (This serial problem...Ch. 4 - Prob. 1GLPCh. 4 - Prob. 2GLPCh. 4 - Prob. 3GLPCh. 4 - Prob. 4GLPCh. 4 - Prob. 5GLPCh. 4 - Prob. 1BTNCh. 4 - Prob. 2BTNCh. 4 - Prob. 3BTNCh. 4 - Prob. 4BTNCh. 4 - Prob. 5BTNCh. 4 - Prob. 6BTNCh. 4 - Prob. 7BTNCh. 4 - Prob. 8BTNCh. 4 - Prob. 9BTN
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The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License