Course Hero Logo

Date account title and explanation pr debit credit

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 65 - 72 out of 72 pages.

DateAccount Title and ExplanationPRDebitCredit
Chapter 6The Accounting Cycle: Statements and Closing Entries276c)Create the trial balance in the worksheet and then complete the remaining section of the worksheet.UnadjustedTrial BalanceAdjustmentsAdjusted TrialBalanceAccount TitleDRCRDRCRDRCRd)Prepare the income statement.e)Prepare the statement of owner’s equity.
Chapter 6The Accounting Cycle: Statements and Closing Entries277f)Prepare the classified balance sheet.g)Prepare the journal entries for the adjustments and post them to the appropriate general ledger accounts.DateAccount Title and ExplanationPRDebitCredit
Chapter 6The Accounting Cycle: Statements and Closing Entries278h)Prepare the journal entries to close the books for the month of July 2019 (use the income summaryaccount), and post the journal entries to the appropriate general ledger accounts, which start on the nextpage.JOURNALPage 3DateAccount Title and ExplanationPRDebitCrediti)Create the post-closing trial balance.
Chapter 6The Accounting Cycle: Statements and Closing Entries279GENERAL LEDGERAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalance
Chapter 6The Accounting Cycle: Statements and Closing Entries280Account:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalance
Chapter 6The Accounting Cycle: Statements and Closing Entries281Account:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalanceAccount:GL No:DateDescriptionPRDRCRBalance
Chapter 6The Accounting Cycle: Statements and Closing Entries282j)Complete the chart below for Grindstone Paving and comment on the company’s liquidity position at theend of July versus the prior month.July 31June 30Working capitalCurrent ratio
End of preview. Want to read all 72 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
NoProfessor
Tags
1971, 1979, 1973, 1970

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture