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Following is the chart of accounts of Smith Financial Services: Smith completed the following transactions during June (the first month of business): Required 1. Journalize the transactions for June 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 June 30, 20–. 4. Prepare an income statement for the month ended June 30, 20–. 5. Prepare a statement of owner’s equity for the month ended June 30, 20–. 6. Prepare a balance sheet as of June 30, 20–.

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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570
BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570

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Chapter
Section
Chapter 3, Problem 5PB
Textbook Problem

Following is the chart of accounts of Smith Financial Services:

Chapter 3, Problem 5PB, Following is the chart of accounts of Smith Financial Services: Smith completed the following , example  1

Smith completed the following transactions during June (the first month of business):

Chapter 3, Problem 5PB, Following is the chart of accounts of Smith Financial Services: Smith completed the following , example  2

Chapter 3, Problem 5PB, Following is the chart of accounts of Smith Financial Services: Smith completed the following , example  3

Required

  1. 1. Journalize the transactions for June 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 June 30, 20–.
  4. 4. Prepare an income statement for the month ended June 30, 20–.
  5. 5. Prepare a statement of owner’s equity for the month ended June 30, 20–.
  6. 6. Prepare a balance sheet as of June 30, 20–.

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