After studying Chapter 16, you will be able to:
- Identify accounting concepts and practices related to adjusting and closing entries for a merchandising business organized as a corporation.
- Record adjusting entries.
- Record closing entries for income statement accounts.
- Record closing entry for dividends.
- Prepare a post-closing trial balance.
Mastery Problem 16-5
- Make a copy of this spreadsheet.
- Place this file in your Chapter 16 folder.
- Rename the file to Mastery Problem 16-5-(Your Initials)
- Complete the spreadsheet according to the directions on page 501 or below.
Challenge Problem 16-6
- Create a new Google Document titled Challenge Problem 16-6-(Your Initials) and move it into your Chapter 16 folder.
- Read the instructions on page 504 of your textbook and use the document to record your findings.
Study Guide 16
- Utilize this review to assess your learning from Chapter 16. You have 10 attempts to get as good of a score as you can. You are free to use the online textbook above when going through this review.