Following is the chart of accounts of Sanchez Realty Company: Sanchez completed the following transactions during April (the first month of business): Required 1. Journalize the transactions for April in the general journal. 2. Post the entries to the general ledger accounts. (Skip this step if you are using CLGL.) 3. Prepare a trial balance as of April 30, 20–. 4. Prepare an income statement for the month ended April 30, 20–. 5. Prepare a statement of owner’s equity for the month ended April 30, 20–. 6. Prepare a balance sheet as of April 30, 20–. *If you we using CLGL, use the year 2020 when preparing all reports.

BuyFind

College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087
BuyFind

College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087

Solutions

Chapter 3, Problem 5PA
Textbook Problem

Following is the chart of accounts of Sanchez Realty Company:

Chapter 3, Problem 5PA, Following is the chart of accounts of Sanchez Realty Company: Sanchez completed the following , example  1

Sanchez completed the following transactions during April (the first month of business):

Chapter 3, Problem 5PA, Following is the chart of accounts of Sanchez Realty Company: Sanchez completed the following , example  2Chapter 3, Problem 5PA, Following is the chart of accounts of Sanchez Realty Company: Sanchez completed the following , example  3

Required

  1. 1. Journalize the transactions for April in the general journal.
  2. 2. Post the entries to the general ledger accounts. (Skip this step if you are using CLGL.)
  3. 3. Prepare a trial balance as of April 30, 20–.
  4. 4. Prepare an income statement for the month ended April 30, 20–.
  5. 5. Prepare a statement of owner’s equity for the month ended April 30, 20–.
  6. 6. Prepare a balance sheet as of April 30, 20–.

*If you we using CLGL, use the year 2020 when preparing all reports.

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