Century 21 Accounting Multicolumn Journal
11th Edition
ISBN: 9781337679503
Author: Gilbertson
Publisher: Cengage
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- CLOSING ENTRIES From the work sheet on page 607 prepare the following: 1. Closing entries for Balloons and Baubbles in a general journal. 2. A post-closing trial balance.arrow_forwardCLOSING ENTRIES From the work sheet on page 600, prepare the following: 1. Closing entries for Gimbels Gifts and Gadgets in a general journal. 2. A post-closing trial balance.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_forward
- ADJUSTING, CLOSING, AND REVERSING ENTRIES A partial work sheet for Baldwin Company is shown on the next page. Data for adjusting the accounts are as follows: REQUIRED 1. Prepare the December 31 adjusting journal entries for Baldwin Company. 2. Prepare the December 31 closing journal entries for Baldwin Company. 3. Prepare the reversing journal entries as of January 1, 20-2, for Baldwin Company.arrow_forwardCLOSING ENTRIES Using the spreadsheet and partially completed Income Summary Account on page 598, prepare the following: 1. Closing entries for Gimbels Gifts and Gadgets in a general journal. 2. A post-closing trial balance. EXERCISE 15-5Aarrow_forwardThe partial work sheet for Emil Consulting for June is as follows: Required If you are using Working Papers, complete the following: 1. a.Write the owners name on the Capital and Drawing T accounts. b.Record the account balances in the T accounts for owners equity, revenue, and expenses. 2. Journalize the closing entries using the four steps in correct order. Number the closing entries 1 through 4. 3. Post the closing entries to the T accounts immediately after you journalize each one to see the effect of the closing entries. Number closing entries 1 through 4. Check Figure Debit to Income Summary, second entry, 4,930arrow_forward
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The accounting cycle; Author: Alanis Business academy;https://www.youtube.com/watch?v=XTspj8CtzPk;License: Standard YouTube License, CC-BY