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The following financial statements are the solution to computer assignment #2 from the 2021 fall semester. Although your financial statements do NOT need to
The following financial statements are the solution to computer assignment #2 from the 2021 fall semester. Although your financial statements do NOT need to LOOK exactly like mine (you may still use whatever company name you wish, your account titles do not have to be exactly the same as mine, etc.), please do the following to your financial statements for 2021 from Intermediate Accounting I (computer problem #2): A. B. C. Round ALL amounts to the nearest DOLLAR (so no decimals appear) on all financial statements, except for earnings per share. In assignments this semester, you will be asked to do journal entries (internal reports) to the nearest penny but financial statements (external reports) to the nearest dollar. Compare all of your dollar amounts to those on my financial statements and make any corrections necessary to your files from the fall. Make sure all of your accounts and items appear in the SAME ORDER that I have used on my financial statements. (This will save me hours of time in grading throughout the semester.) NEW INFORMATION 1. Prepare journal entries (including any necessary adjusting entries on December 31) for each of the following transactions because your company forgot to record any of them. Indicate the appropriate dates for each of your journal entries. Remember that your company was in a 25% tax bracket for 2020 and a 28% tax rate in 2021. You do not need to make an entry to record income taxes, but you must remember to change the amounts of income taxes on your financial statements. Show all journal entries to the nearest PENNY (which means EVERY journal entry should have 2 decimals whether the correct amount is $100.0000 or $305.6287498).
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