Comprehensive Problem 2 for Chapters 1 –4
This comprehensive problem is a continuation of Comprehensive Problem 1. Magness Delivery Service has completed closing entries and the accounting cycle for 2016. The business is now ready to record January 2017 transactions.
ending balances as appropriate. 3. Prepare an unadjusted trial balance as of January 31, 2017. 4. Prepare a worksheet as of January 31, 2017. (optional) 5. Journalize the adjusting entries using the following adjustment data and also by
reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts.
5/20/2018 Bookshelf Online: Horngren’s Accounting
PRINTED BY: email@example.com. Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher’s prior permission. Violators will be prosecuted.
Adjustment data: a. Office Supplies on hand, $120. b. Accrued Service Revenue, $1,200. c. Accrued Salaries Expense, $1,000. d. Prepaid Insurance for the month has expired. e. Depreciation was recorded on the truck for the month.
equity for the month ended January 31, 2017, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount—that is, the largest expense first, the smallest expense last.
The post Accounting appeared first on best homeworkhelp.