Accounting Cycle (Exercises III) Book Free Download

Download Free Book Accounting Cycle Exercises III by Larry M. Walther and Christopher J. Skousen

Problem 1

Following are 3 separate transactions that pertain to prepaid gadgets. Examine every object and put together the journal entries that might be needed for the initial recording and next cease-of-20X3 adjusting entry. Count on the agency makes use of the stability sheet technique, and the preliminary recording is to an asset account. The agency has a calendar 12 months-cease and does no longer make any adjusting entries previous to December 31…….

Problem 2

Caritas Publishing issues the Weekly Welder. The business enterprise’s number one sources of revenue are sales of subscriptions to clients and sales of advertising within the Weekly Welder. Caritas owns its building and has excess workplace area that it rentals to others. The following transactions involved the receipt of increase payments. Prepare the indicated journal entries for each set of transactions…..

Problem 3

Ear Creations technologies of Manchester lately delivered a blue-teeth enabled listening to resource that allows hearing-disabled customers to no longer handiest listen higher, however additionally interface with their cell telephones and digital track players. The organization reports the following 4 transactions and occasions related to December of 20X7, and is in search of your help to prepare the quit-of-12 months adjusting entries needed at December 31…..

Problem 4

Nathan Goldstein’s administrative assistant keeps a very simple automatic preferred ledger system. This system includes intuitive workouts for recording receipts, bills, and sales on account. But, the gadget isn’t always sufficiently strong to automate give up-of-duration changes. Underneath is the trial stability for the month finishing January 31, 20X8. This trial balance has not been adjusted for the diverse gadgets that are described on the subsequent page. Review the trial stability and narratives, and prepare the essential adjusting entries….

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