Financial Accounting

Chapter 4-1 CHAPTER 4 COMPLETING THE ACCOUNTING CYCLE looking Principles, eighth Edition Chapter 4-2 Study Objectives 1. posit a worksheet. 2. pardon the dish of closing the books. 3. Describe the case and purpose of a post-closing consort balance. 4. State the required go in the explanation cycle. 5. Explain the approaches to preparing correcting entries. 6. Identify the sections of a sort balance sheet. Chapter 4-3 Completing the chronicle bike Using a Worksheet move in grooming Preparing financial statements Preparing adjusting entries Closing the Books Preparing closing entries observance closing entries Preparing a post-closing trial balance Summary of Accounting Cycle Reversing entriesAn nonobligatory step Correcting entriesAn avoidable step Classified chemical equilibrium cruise Current assets Long-term investments Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities proprietors equity Chapter 4-4 Using A Worksheet Worksheet A multiple-column tune utilise in preparing financial statements. Not a immutable accounting record. Five step process. Use of worksheet is optional. Chapter 4-5 LO 1 specify a worksheet.

Steps in Preparing a Worksheet Illustration 4-2 Chapter 4-6 LO 1 Prep be a worksheet. Steps in Preparing a Worksheet ensample The trial balance for Undercover Roofing for the month finish edge 31, 2008, is as follows. Other data: Trial Balance Account Titles Dr. Cr. 1. Supplies on hand total $140. Cash $ 2,500 Accounts receivable 1,800 2. wear and tear for run into is Roofing Supplies 1,100 $20! 0. Equipment 6,000 Accumulated wear and tear $ 1,200 3. Unearned receipts amounted Accounts Payable 1,400 to $130 on March 31. Unearned revenue 300 I. Spy, Capital 7,000 4. Accrued salaries are $350. I. Spy, Drawing function Revenue Salaries expense Miscellaneous Expense Totals 600 3,000 700 200 $ 12,900 $ 12,900 instruction manual a. Prepare and complete the worksheet....If you destiny to get a exuberant essay, order it on our website: OrderCustomPaper.com

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