Accounting
27th Edition
ISBN: 9781285149165
Author: WARREN
Publisher: CENGAGE C
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Textbook Question
Chapter 4, Problem 4.27EX
Based on the data in Exercise 4-24, prepare the adjusting entries for Alert Security Services Co.
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Closing entries from an end-of-period spreadsheetBased on the data in Exercise 4-25, prepare the closing entries for Alert SecurityServices Co.
teps in the Accounting Cycle
Rearrange the following steps in the accounting cycle in proper sequence:
a. Transactions are analyzed and recorded in the journal.
b. An unadjusted trial balance is prepared.
c. Transactions are posted to the ledger.
d. Adjustment data are assembled and analyzed.
e. An adjusted trial balance is prepared.
f. Adjusting entries are journalized and posted to the ledger.
g. An optional end-of-period spreadsheet is prepared.
h. A post-closing trial balance is prepared.
i. Financial statements are prepared.
j. Closing entries are journalized and posted to the ledger.
Chapter 4 Solutions
Accounting
Ch. 4 - Why do some accountants prepare an end-of-period...Ch. 4 - Describe the nature of the assets that compose the...Ch. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Why are closing entries required at the end of an...Ch. 4 - What is the difference between adjusting entries...Ch. 4 - What is the purpose of the post-closing trial...Ch. 4 - Prob. 8DQCh. 4 - What is the natural business year?Ch. 4 - Prob. 10DQ
Ch. 4 - Flow of accounts into financial statements The...Ch. 4 - Flow of accounts into financial statements The...Ch. 4 - Statement of owner's equity Marcie Davies owns and...Ch. 4 - Statement of owner's equity Blake Knudson owns and...Ch. 4 - Classified balance sheet The following accounts...Ch. 4 - Classified balance sheet The following accounts...Ch. 4 - Closing entries After the accounts have been...Ch. 4 - Closing entries After the accounts have been...Ch. 4 - Accounting cycle From the following list of steps...Ch. 4 - Accounting cycle From the following list of steps...Ch. 4 - Working capital and current ratio Current assets...Ch. 4 - Working capital and current ratio Current assets...Ch. 4 - Flow of accounts into financial statements The...Ch. 4 - Classifying accounts Balances for each of the...Ch. 4 - Financial statements from the end-of-period...Ch. 4 - Financial statements from the end-of-period...Ch. 4 - Income statement The following account balances...Ch. 4 - Income statement; net loss The following revenue...Ch. 4 - Income statement FedEx Corporation had the...Ch. 4 - Statement of owners equity Apex Systems Co. offers...Ch. 4 - Statement of owners equity; net loss Selected...Ch. 4 - Classifying assets Identify each of the following...Ch. 4 - Balance sheet classification At the balance sheet...Ch. 4 - Balance sheet Optimum Weight Loss Co. offers...Ch. 4 - Balance sheet List the errors you find in the...Ch. 4 - Identifying accounts to be closed From the list...Ch. 4 - Closing entries Prior to closing, total revenues...Ch. 4 - Closing entries with net income Assume that the...Ch. 4 - Closing entries with net loss Stylist Services Co....Ch. 4 - Identifying permanent accounts Which of the...Ch. 4 - Post-closing trial balance An accountant prepared...Ch. 4 - Steps in the accounting cycle Rearrange the...Ch. 4 - Working capital and current ratio The following...Ch. 4 - Prob. 4.22EXCh. 4 - Completing an end-of-period spreadsheet List (a)...Ch. 4 - Adjustment data on an end-of-period spreadsheet...Ch. 4 - Completing an end-of-period spreadsheet Alert...Ch. 4 - Prob. 4.26EXCh. 4 - Adjusting entries from an end-of-period...Ch. 4 - Closing entries from an end-of-period spreadsheet...Ch. 4 - Reversing entry The following adjusting entry for...Ch. 4 - Adjusting and reversing entries On the basis of...Ch. 4 - Adjusting and reversing entries On the basis of...Ch. 4 - Entries posted to wages expense account Portions...Ch. 4 - Entries posted to wages expense account Portions...Ch. 4 - Financial statements and closing entries Beacon...Ch. 4 - Financial statements and closing entries Finders...Ch. 4 - T accounts, adjusting entries, financial...Ch. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Complete accounting cycle For the past several...Ch. 4 - Financial statements and closing entries Last...Ch. 4 - Financial statements and closing entries The...Ch. 4 - T accounts, adjusting entries, financial...Ch. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Complete accounting cycle For the past several...Ch. 4 - The unadjusted trial balance of PS Music as of...Ch. 4 - Kelly Pitney began her consulting business, Kelly...Ch. 4 - Prob. 4.1CPCh. 4 - Communication Your friend, Daniel Nat, recently...Ch. 4 - Financial statements The following is an excerpt...Ch. 4 - Financial statements Assume that you recently...
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- Based on the data in Exercise 4-25, prepare the closing entries for Alert Security Services Co. Alert Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co.:arrow_forwardNumber in order the following steps in the accounting cycle: a. Prepare a trial balance. b. Post journal entries to the accounts in the ledger. c. Journalize and post the adjusting entries from the data on the work sheet. d. Analyze source documents and record business transactions in a journal. e. Prepare financial statements from the data on the work sheet. f. Gather adjustment data and record the adjusting entries on a work sheet. g. Journalize and post the closing entries. h. Prepare a post-closing trial balance. i. Complete the work sheet.arrow_forwardUse the following account T-balances (assume normal balances) and correct balance information to make the December 31 adjusting journal entries.arrow_forward
- Adjusting Entries The following partial list of accounts and account balances has been taken from the trial balance and the adjusted trial balance of Baye Company: Required: Next Level Prepare the adjusting entry that caused the change in each account balance.arrow_forwardJOURNALIZE AND POST ADJUSTING ENTRIES FROM THE WORK SHEET Refer to Problem 5-15B and the following additional information: REQUIRED 1. Journalize the adjusting entries on page 3 of the general journal. 2. Post the adjusting entries to the general ledger. (If you are not using the working papers that accompany this text, enter the balances provided in this problem before posting the adjusting entries.)arrow_forwardREVERSING ENTRIES From the spreadsheet used in Exercise 15-5A, identify the adjusting entry(ies) that should be reversed and prepare the reversing entry(ies).arrow_forward
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