Thursday, 15 September 2011

Darth Konker Corporation prepares quarterly financial statements. The balance sheet at 12/31/10 is presented below. Balance Sheet 12/31/2010 . ....

Darth Konker Corporation prepares quarterly financial statements. The balance sheet at 12/31/10 is presented below. Balance Sheet 12/31/2010 . ....

Q:


Darth Konker Corporation prepares quarterly financial statements. The balance sheet at 12/31/10 is presented below.

Balance Sheet

12/31/2010

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REQUIRED: Print out the solution pages for the general journal, ledger and worksheet that follow and enter the following transactions. I suggest that you use a pencil.

Enter the transactions numbered 1-9 in the general journal provided on the following pages.
Enter the 12/31/10 balances in ledger accounts. Use the ledger account running balance format accounts provided on the following pages.
Post the journal entries to the ledger accounts for items 1-9.
Prepare an unadjusted trial balance at March 31st and enter on the worksheet. Then complete the other worksheet columns.

Worksheet requirement: Using your unadjusted trial balance above and the data for adjusting entries, prepare a 10 column worksheet.

Prepare a bank reconciliation in good form. (Item 15 above.) Record the necessary AJE.
Journalize and post all other adjusting entries. (Items 10-16)
Prepare an income statement and a retained earnings statement for the quarter ended 3/31/11 and a classified balance sheet at 3/31/11.

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