Chapter 05 Additional Problem

Chapter 05 Additional Problem - Requirement 4 Prepare a...

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Chapter 5 Additional Problem Problem 5-3 Gray Co. Closing Entries for February In this problem you will be closing Gray Co.’s Revenue and Expense accounts for the month of February 2009. Print the forms on the following pages and use them to complete this problem. Requirement 1 Based on the General Ledger account balances prepare Gray Co.’s February closing entries. Place the closing entries in the General Journal. Requirement 2 Post the closing entries to the General Ledger accounts. Requirement 3 Compute an Ending Balance for the Retained Earnings account, and compute After Close Balances for the Revenue and Expense accounts.
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Unformatted text preview: Requirement 4 Prepare a Post-Closing Trial Balance. Requirement 5 Compare your solutions for Requirements 1 through 4 to the Feb Close screen in the 2-Gray Co.xls workbook. Requirement 6 Compare the Ending Balance in your Retained Earnings account to the Retained Earnings amount in Gray Co.s Balance Sheet shown on the February screen in the 2-Gray Co.xls workbook. Chapter 5 Additional Problem-- SOLID FOOTING Problem 5-3 Forms Chapter 5 Additional Problem-- SOLID FOOTING Problem 5-3 Forms (continued) General Ledger Chapter 5 Additional Problem-- SOLID FOOTING Problem 5-3 Forms (continued)...
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This note was uploaded on 09/03/2009 for the course ACC ACC 231 taught by Professor Samuels during the Winter '09 term at ASU.

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Chapter 05 Additional Problem - Requirement 4 Prepare a...

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