Chapter 03 Additional Problem

Chapter 03 Additional Problem - Chapter 3 Additional...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 3 Additional Problem Problem 3-3 Gray Co. Makes Its First Sale This problem repeats Gray Co.’s February transactions from Chapter 3. Print the forms on the following pages and use them to complete this problem. Requirement 1 A. Gray Co. has the following General Ledger accounts: Cash, Accounts Receivable, Inventory, Equipment, Note Payable, Interest Payable, Common Stock, and Retained Earnings. Label these accounts in Gray Co.’s General Ledger. B. Enter the February beginning account balance into each account. An account’s January ending balance becomes the account’s February beginning balance. Look on the “January” screen in the “2-Gray Co.xls” workbook to find each account’s January ending balance. Accounts that are new in February will have zero beginning balances. Label these amounts as “Beg. Bal.” Requirement 2 For each of the following transactions make the required entries in the General Journal: Feb 01
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

Chapter 03 Additional Problem - Chapter 3 Additional...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online