Quickbooks Online Accounting
3rd Edition
ISBN: 9780357391693
Author: Owen
Publisher: Cengage
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a. Journalize the transactions and the closing entry for net income.
b. Prepare stockholders’ equity section on December 31, 2021.
Enter the beginning balances, and post the entries to the stockholders’ equity accounts. (Use T-accounts.) (Post entries in the order of journal entries presented in the previous part. Select the date for closing balances even in case of zero balance.)
Prepare a statement of stockholders equity for the year ended June 30 20Y3. During the ended June 30, 30Y3 additional common stock of $20,000 was issued. If a net loss is incurred or dividends were paid, enter that amount as a negative using a minus sign.
Prepare a balance sheet of June 30 20Y3 including stockholders equity and liability.
On the basis of the end of period speeds, journalize the closing entries.
Prepare a post closing trial balance. List the accounts as assets, liabilities, capital, dividends, revenue and expenses.
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- Required:A. Prepare journal entries to record the above transactions.B. Prepare the stockholder’s equity section as of December 31, 2018.arrow_forwardCan you help me? Prepare an income statement for the year ended December 31, 20Y5. Answer Check Figure: Net income, $137,400 Prepare a statement of stockholders’ equity for the year ended December 31, 20Y5. During the year, common stock of $25,000 was issued. Prepare a balance sheet as of December 31, 20Y5. Based upon the end-of-period spreadsheet, journalize the closing entries. Prepare a post-closing trial balancearrow_forwardCan you help me with this excercise? Preparing a classified Balance Sheet, making closing entries and preparing the post closing trial balance. Prepare an income statement for the year ended December 31, 20Y5. Answer Check Figure: Net income, $137,400 Prepare a statement of stockholders’ equity for the year ended December 31, 20Y5. During the year, common stock of $25,000 was issued. Prepare a balance sheet as of December 31, 20Y5. Based upon the end-of-period spreadsheet, journalize the closing entries. Prepare a post-closing trial balancearrow_forward
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