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Required: Set up T-accounts for the accounts on the trial balance and enter their...

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Accounting

Required:
Set up T-accounts for the accounts on the trial balance and enter their beginning balances.
Record transactions (a) through (k) and post them to the T-accounts.
Record and post the adjusting entries (l) through (p).
Prepare a statement of earnings (including earnings per share), a statement of changes in equity for 2023, and a statement of financial position at December 31,2023.
Record and post the closing entries.
Prepare a post-closing trial balance.
Compute the following ratios for 2023 and explain what they mean:
a. Current ratio
b. Total asset turnover ratio
c. Net profit margin ratio
d. Return on equity
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