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T Accounts: T- accounts are prepared for all the business transactions. First,
To Post: The above journal entries and
2.
To Prepare: The inventory records for the three inventory items.
3.
To Record: The transactions in the general journal.
5.
To Record: The adjusting entries in the journal.
6.
Prepare trial balance for D Company as on December 31, 2018.
7.
To Prepare: A summary for the month, in both units and dollars, of the change in inventory for each item in the following format.
8.
To Prepare: The income statement, retained earnings statement, and
9.
Gross profit percentage is the financial ratio that shows the relationship between the gross profit and net sales. Gross profit is the difference between the total revenues and cost of goods sold. It is calculated by using the following formula:
To Calculate: The gross profit percentage of Company D.
10.
To
11.
To Prepare: The post-closing trial balance.
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