ACC 600: Accounting and Finance for Managers
Assignments: Week One
Preparing the balance sheet
The account balances of Wilford Towing Service at June 30, 2016, follow:
1. Prepare the balance sheet for Wilford Towing Service as of June 30, 2016.
2. What does the balance sheet report?
Journalizing transactions from T-accounts
In December 2016, the first five transactions of Atkins’ Lawn Care Company have been posted to the T-accounts.
Prepare the journal entries that served as the sources for the five transactions. Include an explanation for each entry.
Preparing a trial balance
The accounts of Aker Moving Company follow with their normal balances as of August 31, 2016. The accounts are listed in no particular order.
Prepare Aker’s trial balance as of August 31, 2016.