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048E239_pg_106.docx
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ACC 537 2 Problems
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<!DOCTYPE html PUBLIC "-//ABISOURCE//DTD XHTML plus AWML 2.2//EN" "http://www.abisource.com/2004/xhtml-awml/xhtml-awml.mod"><html xmlns="http://www.w3.org/1999/xhtml" xmlns:awml="http://www.abisource.com/2004/xhtml-awml/"> <head> <meta http-equiv="Content-Type" content="application/xhtml+xml; charset=UTF-8" /> <title> Abiword HTML Document </title> </head> <body> <div> <p> <img style="width:247.6mm; height:139.2mm" src="048E239_pg_106.docx.txt_files/rId5.png" title="" alt="" align="" /></p> <p> </p> <p> </p> <p> </p> <p> 1.<span>Journalize Transaction</span> </p> <p> <span>2.Post the T accounts,and key items by dates and determine and determine the ending balance in each account. Denote account balance on August 18, 2016, as balance.</span> </p> <p> <span>3. Using excel prepare a trial balance on august 18, 2016</span> </p> <p> </p> <p> </p> <p> </p> <p> <img style="width:239.6mm; height:134.7mm" src="048E239_pg_106.docx.txt_files/rId6.png" title="" alt="" align="" /></p> <p> </p> <p> 1.Show how each transaction would be handled in terms of recognizing revenues and expenses using the cash basis and accrual basis. </p> <p> 2. Compute October income (loss) before taxes under each accounting method. </p> <p> 3. Indicate which measure of net income or net loss is preferable. Use the transactions on October 11 and October 24 to explain <a name="_GoBack"> </a> </p> </div> </body></html> ">
