Basswood Furniture Project Balance Sheet

Remember the closing entries change the balances of the equity accounts.

Basswood furniture project balance sheet.

Basswood furniture project 60 create a post closing trial balance. Enter the beginning balances from the g l trial balance in each account. Let me ask if you have the basswood furniture project from penn foster. They usually prefer air dried slow grown northern stock.

Basswood also can become drawer stock hidden furniture parts and painted items. Basswood furniture exam 390907 balance sheets and income statement. You had previously simulated the closing entries on the worksheet to. Can be painted stained and finished without difficulty.

Ian has copies of the balance sheet and income statements figures 16 and 17 in a microsoft word file fr om the. In industry it plays a role as boxes and food containers. Everything you need to complete the project is included in this basswood furniture project package. First you ll need to set up the initial books of accounting.

This light weight wood works very easily with both hand and power tools. Basswood is the wood of choice for many wood carvers. So many of my gl accounts are wrong so i not sure which ones i should go back to look at. I also have a spreadsheet to show each day where i posted the transactions.

Next you ll record all the indicated transactions into the appropriate journals and post them accordingly. The tutor can help you get an a on your homework or ace your next test. I have attached the balance sheet and income statement that i submitted. Bqlzr 300x200x1 5mm rectangle unfinished unpainted basswood wooden sheets for craft diy hand made project mini house building architectural model pack of 5 4 3 out of 5 stars 167 14 05 14.

Tell us more about what you need help with so we can help you best. This is a g l trial balance after you make and post the closing entries compare the balances on the trial balance with the figures in the balance. In this project you ll be the bookkeeper for basswood furniture a sole proprietorship that specializes in home furnishings and accessories. Basswood furniture project 60 create a post closing trial balance.

Make sure the total of the debits for the beginning balances in the g l accounts matches the total of the debits on the trial balance and that the total of the credits matches the total of the credits on the trial balance. It cuts cleanly nails screws and glues well though sanding leaves the surface woolly.