JBCRB Company is a sporting goods retailer with a December 31 year-end. In the files...
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JBCRB Company is a sporting goods retailer with a December yearend. In the files section on Canvas there are files for the project ledger, project journal, the trial balance at December along with templates for other trial balances and financial statements. Below you are given the transactions for the last week of and the information for any required adjusting entries for You are to do the following: Journalize and post the remaining transactions Prepare a trial balance at December Journalize and post the required adjusting entries Prepare an adjusted trial balance at December Prepare a multistep income statement for Prepare a statement of retained earnings for Prepare a classified balance sheet for December Journalize and post the necessary closing entries at December Prepare a postclosing trial balance Remaining December transactions: Dec. Paid employees for the previous two weeks work, $Dec Paid Jolly Mon Company for inventory purchased on December the inventory had a list price of $ and the terms were nDec Sold merchandise to Coconut Telegraph Company for $ cash. The merchandise cost $Dec Purchased $ of office supplies for cashDec Received payment from customer for sale of merchandise on December The sales price was $ and the terms were nDec Sold merchandise to Slack Tide Company for $ on account. The terms are n The merchandise cost $ Dec Wrote off Door Number Three Companys account. The balance in the account was $Dec Purchased $ of merchandise inventory on account from Jolly Mon Company. The terms are n Information for yearend adjusting entries: On December there are $ of office supplies on hand JBCRB borrowed the $ on February JBCRB must make annual interest payments each February and pay the full note on February The interest rate on the note is Employees have earned $ in wages for work done since the last payday December The prepaid rent was paid on July and covers a oneyear period starting on July JBCRB paid a oneyear insurance policy on August The Building has a twentyyear life and a $ residual value. The Equipment has a tenyear useful life and no residual value. December utilities are $ and will be paid in January JBCRB estimates its bad debts at of its accounts receivable balance. Check Figures:December Trial Balance Debits and Credits $December Adjusted Trial Balance Debits and Credits $Net Income $Total Assets $PostClosing Trial Balance Debits and Credits $
JBCRB Company is a sporting goods retailer with a December yearend. In the files section on Canvas there are files for the project ledger, project journal, the trial balance at December along with templates for other trial balances and financial statements. Below you are given the transactions for the last week of and the information for any required adjusting entries for You are to do the following: Journalize and post the remaining transactions Prepare a trial balance at December Journalize and post the required adjusting entries Prepare an adjusted trial balance at December Prepare a multistep income statement for Prepare a statement of retained earnings for Prepare a classified balance sheet for December Journalize and post the necessary closing entries at December Prepare a postclosing trial balance Remaining December transactions: Dec. Paid employees for the previous two weeks work, $Dec Paid Jolly Mon Company for inventory purchased on December the inventory had a list price of $ and the terms were nDec Sold merchandise to Coconut Telegraph Company for $ cash. The merchandise cost $Dec Purchased $ of office supplies for cashDec Received payment from customer for sale of merchandise on December The sales price was $ and the terms were nDec Sold merchandise to Slack Tide Company for $ on account. The terms are n The merchandise cost $ Dec Wrote off Door Number Three Companys account. The balance in the account was $Dec Purchased $ of merchandise inventory on account from Jolly Mon Company. The terms are n Information for yearend adjusting entries: On December there are $ of office supplies on hand JBCRB borrowed the $ on February JBCRB must make annual interest payments each February and pay the full note on February The interest rate on the note is Employees have earned $ in wages for work done since the last payday December The prepaid rent was paid on July and covers a oneyear period starting on July JBCRB paid a oneyear insurance policy on August The Building has a twentyyear life and a $ residual value. The Equipment has a tenyear useful life and no residual value. December utilities are $ and will be paid in January JBCRB estimates its bad debts at of its accounts receivable balance. Check Figures:December Trial Balance Debits and Credits $December Adjusted Trial Balance Debits and Credits $Net Income $Total Assets $PostClosing Trial Balance Debits and Credits $
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