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comprehensive problem
Quigley Corporation’s trial balance at December 31, 2014, is presented below. All 2014 transactions have been recorded except for the items described below.
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Unrecorded transactions
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Instructions
(Ignore income taxes.)
(a) |
Prepare journal entries for the transactions listed above. |
(b) |
Prepare an updated December 31, 2014, trial balance, reflecting the unrecorded transactions. (b) Total $868,700 |
(c) |
Prepare a multiple-step income statement for the year ending December 31, 2014. |
(d) |
Prepare a retained earnings statement for the year ending December 31, 2014. |
(e) |
Prepare a classified balance sheet as of December 31, 2014. (e) Total assets $270,900 |