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    Accounting transactions, year-end accounting, job order costing and activity based costing

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    Bob has organized a new business called Bob's Shovels Inc.

    I need help posting transactions from Bob's Shovels to his General Ledger, posting adjusting entries and closing entries, closing out the Income Summary account to Retained Earnings, and preparing a Balance Sheet and Income Statement for the year end.

    I also need help with a job order costing question and activity-based costing question.

    I've attached the questions below.

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    Solution Preview

    I've provided a detailed spreadsheet which shows all the transactions ...

    Solution Summary

    This solution provides guidance for problems related to accounting transactions for a theoretical new company.