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un adjusted trial balance

See the attached file.

Intermediate Accounting 302 - Spring 2013

You have been given an un-adjusted trial balance.
In addition, you have be given specifics of some of the transactions that occurred during the year
There are transactions that do not have all the required information in order to properly record the event
Ask questions to clarify.
You may need to add accounts to your trial balance

Required:

Prepare adjusted trial balance, income statement, balance sheet, statement of changes in
owners equity and a closing trial balance.

Deliverables:
1. Adjusting journal entries
2. Adjusted Trial Balance
3. Closing Trial Balance
4. Income Statement (with Basic and Diluted EPS)
5. Balance Sheet
6. Statement of Changes in Owners Equity.

Attachments

Solution Preview

Please read this tutorial vis-à-vis the Excel file.

1. I 've created a worksheet for each of the following:
a. 1. Adjusting journal entries
b. 2. Adjusted Trial Balance
c. 3. Closing Trial Balance
d. 4. Income Statement (with Basic and Diluted EPS)
e. 5. Balance Sheet
f. 6. Statement of Changes in Owners Equity
2. The name of the worksheets for each of them are as follows
a. 1. Adjusting journal entries - ADJ
b. 2. Adjusted Trial Balance - ATB
c. 3. Closing Trial Balance - CTB
d. 4. Income Statement (with Basic and Diluted EPS) - IS
e. 5. Balance Sheet - BS
f. 6. Statement of Changes in Owners Equity - SOE
3. We go through each of the OTHER INFORMATION one by one
1. 1. The combined (Federal and State) corporate tax rate is 35%
a. We have to create the Income Statement first
i. Copy the trial balance as is
ii. Link the amounts to the original data such that any changes made will be automatically accounted for
iii. Delete Income statement-unrelated accounts
iv. Format the IS
v. Arrange expenses from highest to lowest
2. 2. ABC, Inc. has 80,000 stock ...

Solution Summary

The solution discusses an un-adjusted trial balance.

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