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Homework 3 Solution

Homework 3 Solution - LAST NAME FIRST NAME_PUID Management...

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LAST NAME: _____________ FIRST NAME______________PUID_________________ Management 200 – Introductory Financial Accounting– Maymester 2010 Krannert School of Management - Purdue University Homework 3 – due Thursday, May 27, 2010 - Solution IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. PART A: Refer to the pre-closing trial balance for Carolina Corporation as at December 31, 2009. (See the solution to part c for homework 2). Required: a. Assuming Carolina Corporation uses an Income Summary Account during the closing process, prepare the closing entries for Carolina Corporation as at December 31, 2009. Transfer the revenue information to the temporary account, income summary.
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Homework 3 Solution - LAST NAME FIRST NAME_PUID Management...

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