1. BUSINESS HIGH SCHOOL-ACCOUNTING II
Worksheets,
Adjustments and
Financial Statements
Chapter 11
Post-Closing Trial Balance
Closing
Entries
Statement of Stockholders’ Equity
Financial
Statements
Ten-Column
Worksheet
Income Statement
Balance Sheet
Adjustments
Accounting II Essential Learning Expectations-Chapter 11:
Adjustments are made for uncollectible accounts, depreciation, accrued interest and salaries, unearned revenue, prepaid interest, and federal corporate income tax.
The three financial statements prepared by a merchandising business organized as a publicly held corporation are the Income Statement, the Statement of Stockholders’ equity, and the Balance Sheet.
After Closing Entries have been posted, only the permanent accounts will appear on the Post-Closing Trial Balance.
Content Vocabulary:
Accrual
Deferral