Sep 25, 2017 term paper 2

THE FOLLOWING GENERAL LEDGER ACCOUNTS ARE TAKEN FROM THE BOOKS OF COLLINS CORPORATION AT JUNE 30,…

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The following general ledger accounts are taken from the books of Collins Corporation at June 30, 2015, the end of the first month of operation.

Required:

1. Prepare journal entries to record the June transactions, including likely descriptions of the transactions.

2. Total the T-accounts and prepare a trial balance at June 30. 3. Prepare an income statement and statement of changes in equity for the month ended June 30, 2015 and a balance sheet at June 30, 2015.



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