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ACCT 212: Course Project Prepare the Adjusting Entries Adjusting Entries

ACCT 212: Course Project Prepare the Adjusting Entries Adjusting Entries

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Requirement #4: Prepare adjusting entries using the following information in the General Journal below. Show your calculations!
a) One month's insurance has expired.
b) The remaining inventory of repair supplies is $194.
c) The estimated depreciation on repair equipment is $70.
d) The estimated income taxes are $40.

Requirement #5: Post the adjusting entries on October 31 below to the General Ledger T-accounts and compute adjusted balances. Just add to the balances that are already listed.

REQUIREMENT #6: Prepare an Adjusted Trial Balance in the space below.

Requirement #7: Prepare the financial statements for Rawls Repair Corporation as of October 31 in the space below.

Requirement #8: Prepare the closing entries at October 31 in the General Journal below. Hint: use the balances for each account which appear on the Adjusted
Trial Balance for your closing entries.

Requirement #9: Post the closing entries to the T-Accounts on the General Ledger worksheet and compute ending balances. Just add to the adjusted balances already listed.

Requirement #10: Prepare a post-closing trial balance as of October 31 in the space below.

4 Prepare the Adjusting Entries Adjusting Entries
5 Post Adjusting Entries to the General Ledger General Ledger
6 Prepare an Adjusted Trial Balance Adjusted TB
7 Prepare the Financial Statements Financial Statements
8 Prepare the Closing Entries Closing Entries
9 Post Closing Entries to the General Ledger General Ledger
10 Prepare the Post Closing Trial Balance Post Closing TB
Requirement #4: Prepare adjusting entries using the following information in the General Journal below. Show your calculations!
a) One month's insurance has expired.
b) The remaining inventory of repair supplies is $194.
c) The estimated depreciation on repair equipment is $70.
d) The estimated income taxes are $40.

Requirement #5: Post the adjusting entries on October 31 below to the General Ledger T-accounts and compute adjusted balances. Just add to the balances that are already listed.

REQUIREMENT #6: Prepare an Adjusted Trial Balance in the space below.

Requirement #7: Prepare the financial statements for Rawls Repair Corporation as of October 31 in the space below.

Requirement #8: Prepare the closing entries at October 31 in the General Journal below. Hint: use the balances for each account which appear on the Adjusted
Trial Balance for your closing entries.

Requirement #9: Post the closing entries to the T-Accounts on the General Ledger worksheet and compute ending balances. Just add to the adjusted balances already listed.

Requirement #10: Prepare a post-closing trial balance as of October 31 in the space below.

4 Prepare the Adjusting Entries Adjusting Entries
5 Post Adjusting Entries to the General Ledger General Ledger
6 Prepare an Adjusted Trial Balance Adjusted TB
7 Prepare the Financial Statements Financial Statements
8 Prepare the Closing Entries Closing Entries
9 Post Closing Entries to the General Ledger General Ledger
10 Prepare the Post Closing Trial Balance Post Closing TB

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10/22/2013

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