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In the attached document the pages that are in yel...

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In the attached document the pages that are in yellow are the ones that need to be done 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

 

Paper#1911 | Written in 18-Jul-2015

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