Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 59

Clown A round, Inc., provides party entertainment for children of all ages.he company's trial balance dated February 1, 2015, is shown below.

Clown Around engaged in the following transactions in February:

a.ecord the company's February transactions in general journal form.nclude a brief explanation of the transaction as part of each journal entry.
b.ost each entry to the appropriate ledger accounts (use the T account format as illustrated in Exhibit 3-8 on page 110).
c.repare a trial balance dated February 28, 2015.Hint: Retained Earnings will be reported at the same amount as it was on February 1.ccounting for changes in the Retained Earnings account resulting from revenue, expense, and dividend activities is discussed in Chapter 5.)
d.ill the $100 dividend paid on February 28 decrease the company's income Explain.