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link for assignment: https://baker.instructure.com/courses/9592/files/722978/download?verifier=HEePDMhmpmkpOOWiE59fUuJeSHPnK1KKBu0rrVsg&wrap=1 ACC1020_Instructions_STUDENT_Comp Problem 2 P15-10B Additional Instructions to what is stated on page 608 in the text. Read all instructions before starting
link for assignment: https://baker.instructure.com/courses/9592/files/722978/download?verifier=HEePDMhmpmkpOOWiE59fUuJeSHPnK1KKBu0rrVsg&wrap=1 ACC1020_Instructions_STUDENT_Comp Problem 2 P15-10B Additional Instructions to what is stated on page 608 in the text. Read all instructions before starting your work. This assessment is worth 150 points. Use the worksheet file as provided for Darby Kite Store as of December 31, 20X1. Perform the Adjustments at the end of the year: A and b): Merchandise Inventory as of December 31, 20X1 = $ 23,600.00 C) Unused supplies on hand $ 1,050.00 D) Insurance expired $ 250.00 E) Depreciation expense for the year: $ 400.00 F) Wages earned but not paid $ 360.00 G) Unearned revenues on December 31: $ 500.00 REQUIRED: (NOTE that this is slightly changed from the text book; added "prepare the Income Statement" on sheet 1 in the file) 1) Prepare the worksheet as provided in the separate file. 2) Prepare the adjusting entries in the separate file. 3) Prepare the Income Statement after making the adjustments. (SEE SHEET 1 on the file as provided) 4) Prepare the closing entries (these are NOT posted to the worksheet). 5) Prepare post- closing trial balance and Post-closing Balance Sheet. 6) Prepare the reversing entries as required.
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