Instructions Print out the solution pages for the general journal, ledger, and worksheet that follow and enter the following transactions. I suggest that you use a pencil. You must complete all requirements (a) through (h) to receive any credit. Turn in completed work to your TA in discussion, or in their mailbox by midnight, Saturday December st a. Enter the December 31, 2017, balances in ledger accounts. Use the ledger account running balance format accounts provided on the following pages. Look at the cash account for an example of how to use the running balance ledger. I have completed the first two lines of it for you. It is a good idea to keep track of whether your balance column is a debit or a credit, particularly for contra accounts. b. Enter the transactions numbered 1-9 in the general journal provided on the following pages. c. Post the journal entries to the ledger accounts for items 1-9. d. Prepare an unadjusted trial balance at March 31 and enter on the worksheet. Then complete the other worksheet columns. (See below.) Worksheet requirement: Using your unadjusted trial balance (d) above and the data for adjusting entries, (e) and () below, prepare a 12 column worksheet. Use the example for Sierra Corporation from Chap the text (Illustration 4A-1 in Chapter 4 Appendix) for guidance. You will not receive any credit if the worksheet is incomplete. e. Prepare a bank reconciliation in good form. (Item 15 above.) Use your own paper. Record the necessary AJE in the journal, the ledger, and the worksheet. Journalize and post all other adjusting entries. (Items 10-16 above.) Add them to the worksheet. Prepare an income statement and a retained earnings statement for the quarter ended March 31, 2018, f. g. and a classified balance sheet at March 31, 2018. Appropriate name the gain/loss account on your ment (you must call it either a gain or a loss, not both.) Use your own paper. (No formatted sheets are supplied as for the other items.) h. Journalize closi ng entries. You are not required to post the closing entries or prepare a post-closing trial balance for this assignment. General Ledger - continsed DEPRECIATION EXPENSE DR CRBALANCE MORTIZATON EXPENSE DR CR BALANCE - GAIN/LOSS ON DISPOSAL DR CR BALANCE BAD DERT EXPENSE DR CR BALANCE INCOME TAX EXPENSE DR CR BALANCE Instructions Print out the solution pages for the general journal, ledger, and worksheet that follow and enter the following transactions. I suggest that you use a pencil. You must complete all requirements (a) through (h) to receive any credit. Turn in completed work to your TA in discussion, or in their mailbox by midnight, Saturday December st a. Enter the December 31, 2017, balances in ledger accounts. Use the ledger account running balance format accounts provided on the following pages. Look at the cash account for an example of how to use the running balance ledger. I have completed the first two lines of it for you. It is a good idea to keep track of whether your balance column is a debit or a credit, particularly for contra accounts. b. Enter the transactions numbered 1-9 in the general journal provided on the following pages. c. Post the journal entries to the ledger accounts for items 1-9. d. Prepare an unadjusted trial balance at March 31 and enter on the worksheet. Then complete the other worksheet columns. (See below.) Worksheet requirement: Using your unadjusted trial balance (d) above and the data for adjusting entries, (e) and () below, prepare a 12 column worksheet. Use the example for Sierra Corporation from Chap the text (Illustration 4A-1 in Chapter 4 Appendix) for guidance. You will not receive any credit if the worksheet is incomplete. e. Prepare a bank reconciliation in good form. (Item 15 above.) Use your own paper. Record the necessary AJE in the journal, the ledger, and the worksheet. Journalize and post all other adjusting entries. (Items 10-16 above.) Add them to the worksheet. Prepare an income statement and a retained earnings statement for the quarter ended March 31, 2018, f. g. and a classified balance sheet at March 31, 2018. Appropriate name the gain/loss account on your ment (you must call it either a gain or a loss, not both.) Use your own paper. (No formatted sheets are supplied as for the other items.) h. Journalize closi ng entries. You are not required to post the closing entries or prepare a post-closing trial balance for this assignment. General Ledger - continsed DEPRECIATION EXPENSE DR CRBALANCE MORTIZATON EXPENSE DR CR BALANCE - GAIN/LOSS ON DISPOSAL DR CR BALANCE BAD DERT EXPENSE DR CR BALANCE INCOME TAX EXPENSE DR CR BALANCE
