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(solution) Please refer to the attachment to answer this question. This


Please refer to the attachment to answer this question. This question was created from SMC Comprehensive Problem[1] https://www.coursehero.com/file/6949453/SMC-Comprehensive-Problem1/?focusQaId=9856999 The following text was automatically generated from the attachment: Journalize the transactions for 2011, using the accounts listed on the financial statements and other appropriate accounts. Journalize any necessary adjusting entries at the end of 2011. (Hint: Items b, c, d, e, m, o, andp require adjustment.) Set up T-accounts and post all current yearjournal entries to the T-accounts. After the adjusting entries are posted, prepare a trial balance, a balance sheet, and an income statement for 2011. (Hint: Total assets should equal $155,925 and Income before income taxes should equal $39,600.) Journalize and post closing entries for 2011 and prepare a post-closing trial balance.

 


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Sep 13, 2020

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