Comprehensive Problem

Description

File attached  1. Prepare all the required forms, schedules, journals, ledgers, etc PROPERLY AND COMPETELY. This will include: A) Entering the dates in the proper format,B) Skipping a line between journal entries,C) Proper use of the posting references,D) Correctly entering the headings on any required financial statement,E) Underling and double underlining as required, andF) Completing the required forms in a NEAT AND LEGIBLE fashion.2. You will be working on the books for the GREEN RIVER DRY GOODS CO., a general merchandise company. The company is on a June 1 through May 31 fiscal year. The company uses the Perpetual Inventory method. Unless indicated otherwise, the General Ledger account balances provided are as of April 30, 2014. Using the amounts listed along with the Chart of Accounts, prepare the General Ledgers. As noted above, you are expected to properly set up the GL’s (date, “Balance”, check mark, etc),3. After the GL’s are set-up, you will JOURNALIZE and POSTthe transactions for the month of May 2014. This problem DOES NOT utilize SUBSIDIARY LEDGERS or SPECIAL JOURNALS,4. You are asked to prepare an UNADJUSTED TRIAL BALANCE,5. The adjustment information will be assembled and provided to you. You will journalize and post these adjustments accordingly,6. A large part of the problem includes the proper set-up and completion of a 10-COLUMN WORKSHEET,7. After the adjustments have been posted, prepare an ADJUSTED TRIAL BALANCE,8. Using the Adjusted Trial Balance and the 10-column worksheet, prepare the INCOME STATEMENT (Multi-Step) , STATEMENT OF OWNERS EQUITY AND BALANCE SHEET (Report Form),9. To close out the books for the current year, you will need to journalize and post the CLOSING ENTRIES,10. Finally, you will need to prepare a POST-CLOSING TRIAL BALANCE.

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