Horngren's Financial & Managerial Accounting (5th Edition)
5th Edition
ISBN: 9780133866292
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 5, Problem 5.33AP
Preparing a multi-step income statement, journalizing dosing entries, and preparing a post-dosing
The adjusted trial balance of Big Rita’s Music Company at June 30, 2016, follows:
Requirements
1. Prepare Big Rita’s multi-step income statement for the year ended June 30, 2016.
2. Journalize Big Rita’s closing entries.
3. Prepare a post-dosing trial balance as of June 30, 2016.
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Use the following information to answer Exercises E5-23 through E5-25.
The adjusted trial balance of Quality Office Systems at March 31, 2018, follows:
Journalizing closing entries Requirements
Journalize the required dosing entries at March 31, 2018.
Set up T-accounts for Income Summary; Retained Earnings; and Dividends. Post the closing entries to the T-accounts, and calculate their ending balances.
How much was Quality Office’s net income or net loss?
Presented below are selected accounts for Splish Company as reported in the worksheet at the end of May 2020.
Complete the worksheet by extending amounts reported in the adjusted trial balance to the appropriate columns in the worksheet.
SPLISH CO.
Worksheet
For The Month Ended May 31, 2020
Adjusted Trial
Accounts
Balance
Income Statement
Dr.
Cr.
Dr.
Cr.
Cash
9,240
Inventory
87,710
Sales Revenue
405,800
Sales Returns and Allowances
9,380
Sales Discounts
5,150
Cost of Goods Sold
252,300
Use the following information to answer Exercises E5-23 through E5-25.
The adjusted trial balance of Quality Office Systems at March 31, 2018, follows:
Preparing a multi-step income statement
Prepare Quality Office’s multi-step income statement for the year ended March 31, 2018.
Chapter 5 Solutions
Horngren's Financial & Managerial Accounting (5th Edition)
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