Klinger Corporation Balance Sheet and Adjusting
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During 2014, the following transactions occurred.
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Adjustment data:
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Instructions
1. Prepare journal entries for the transactions listed above.
2. Enter the 2013 year-end balances in the ledger accounts and post the journal entries to the ledger accounts.
3. Prepare a trial balance on December 31, 2014.
4. Journalize adjusting entries based on adjustment data.
5. Prepare an adjusted trial balance at December 31, 2014.
6. Prepare an income statement, retained earnings statement, and statement of cash flow (using indirect method) for the year ending December 31, 2014, and a classified balance sheet as of December 31, 2014.