Accounting Cycle Project
a Prepaid insurance of $ has expired this month.
b At the end of the month, $ of office supplies are still available.
c This month's depreciation on the computer equipment is $
d Employees earned $ of unpaid and unrecorded salaries as of monthend.
e The company earned $ of commissions that are not yet billed at monthend.
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Required:
& Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement The company records prepaid and unearned items in balance sheet accounts.
Using account balances from Requirement b prepare an unadjusted trial balance as of April
Journalize the adjusting entries for the month and prepare the adjusted trial balance.
a Prepare the income statement for the month of April
b Prepare the statement of retained earnings for the month of April
c Prepare the balance sheet at April
a Prepare journal entries to close the temporary accounts and then post to Requirement
b Post the journal entries to the ledger.
Prepare a postclosing trial balance.
