Description of this paper

comprehensive problem for Colo Company

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solution


Question

Question;Assume it is Monday May 1, the first;business day of the month and you have just been hired as the accountant for;Colo Company, which operates with mothly accounting period. All of the;company?s accounting work is completed through the end of April and its ledgers;show April 30 balances. During your first month on the job, the company;experiences the following transactions and events (Terms for all its credit;sales are 2/10, n 30 unless stated differently);Enter the transaction that can be found in;the excel file tab Given PO7C;Additional;Requirements;Enter these transaction in a sales journal;purchase journal, cash receipts journal, a cash disbursement journal, or;general journal as illustrated in chapter 7 (Number of all journals pages as;page 2);Post & Assume a perpetual inventory;system is being used.;Prepare trial balance in the Trial Balance;columns of the work sheets forms provided with the working papers. Complete the;work sheet using the following information for accounting adjustments.;This information is all listed on the excel;file tab Given PO7C;Prepare a May 2013 Multi Step income;statement, a May 2013 statement of owners? equity and a May 31, 2013 classified;balance sheet;Prepare a post-closing trial balance, also;provide the accuracy of subsidiary ledgers by preparing a schedules of both accounts receivable and;payable.

 

Paper#40631 | Written in 18-Jul-2015

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