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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 46
Journalizing liability transactions and reporting them on the balance sheet
The following transactions of Emergency Pharmacies occurred during 2014 and 2015:
Requirements
1. Journalize the transactions in Emergency Pharmacies' general journal. Round all answers to the nearest dollar. Explanations are not required.
2. Assume Emergency Pharmacies only adjusts the current portion of long-term notes on the last day of each year, December 31. Prepare the liabilities section of the balance sheet for Emergency Pharmacies on March 1, 2015.
The following transactions of Emergency Pharmacies occurred during 2014 and 2015:
Requirements
1. Journalize the transactions in Emergency Pharmacies' general journal. Round all answers to the nearest dollar. Explanations are not required.
2. Assume Emergency Pharmacies only adjusts the current portion of long-term notes on the last day of each year, December 31. Prepare the liabilities section of the balance sheet for Emergency Pharmacies on March 1, 2015.
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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