FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Prepare a worksheet for Brown’s Plumbing and Heating.
- Write the heading for the worksheet for the fiscal period ending December 31, 20xx.
- Record the
trial balance using the accounts and their balances from the Ledger tab. Some are done for you. - Calculate and record the Supplies adjustment. There is $5,600.00 in supplies on hand at the end of the fiscal year.
- Calculate and record the Insurance adjustment. There is $900.00 of insurance coverage left at the end of the fiscal year.
- Prove the Adjustments columns.
- Extend all
balance sheet account balances. - Extend all income statement account balances.
- Calculate and record the net income or loss.
- Total and rule the Income Statement and Balance Sheet columns.
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