Unformatted text preview: 12. September 30 th : Paid $300 dividend to stockholder. Adjusting entries: 1) Dental supplies at the end of the month are inventoried and are $612. 2) Depreciation expense is recorded for September. Use a 5 year life on the asset. 3) A $500 utility bill for September was received but will be paid in October. • Prepare journal entries for all transactions. • Post journal entries to the accounts in the ledger and prepare a preliminary trial balance. • Make the adjusting entries to the accounts and update the balances of affected accounts in the ledger. • Prepare an adjusted trial balance. • Prepare the income statement, balance sheet and statement of retained earnings. • Make the closing entries. • Prepare a post closing trial balance....
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This note was uploaded on 12/03/2009 for the course ACG 3131 taught by Professor Rotella during the Spring '08 term at University of Central Florida.
- Spring '08
- Financial Accounting