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Lecture Computer accounting with quickbooks online: A cloud-based approach - Chapter 7: Analysis and reports − End of fourth quarter and year

In chapter 7 continue recording financial transactions for Cloud_Ware Student Name. Complete transactions for the end of the fourth quarter and end of the year. At the end of December, which is also the end of the fourth quarter, complete adjusting entries, print an Adjusted Trial Balance, financial statements, and close the fiscal year. | Chapter 7 Analysis and Reports− End of Fourth Quarter and Year Copyright ©2017 by McGraw-Hill Education. All rights reserved. 1 of 14 1 Copyright ©2017 by McGraw-Hill Education. All rights reserved Copyright ©2017 by McGraw-Hill Education. All rights reserved. Chapter 7 Continue recording financial transactions for Cloud_Ware Student Name. Complete transactions for the end of the fourth quarter and end of the year. At the end of December, which is also the end of the fourth quarter, complete adjusting entries, print an Adjusted Trial Balance, financial statements, and close the fiscal year. 2 of 14 2 Copyright ©2017 by McGraw-Hill Education. All rights reserved Copyright ©2017 by McGraw-Hill Education. All rights reserved. QBO Tips Use the Journal Entry window to enter end-of-fourth quarter adjusting entries. Select > Journal Entry. The end-of-quarter adjusting entries include: Adjusting three months of prepaid rent. Adjusting three months prepaid insurance. Using straight-line . | Chapter 7 Analysis and Reports− End of Fourth Quarter and Year Copyright ©2017 by McGraw-Hill Education. All rights reserved. 1 of 14 1 Copyright ©2017 by McGraw-Hill Education. All rights reserved Copyright ©2017 by McGraw-Hill Education. All rights reserved. Chapter 7 Continue recording financial transactions for Cloud_Ware Student Name. Complete transactions for the end of the fourth quarter and end of the year. At the end of December, which is also the end of the fourth quarter, complete adjusting entries, print an Adjusted Trial Balance, financial statements, and close the fiscal year. 2 of 14 2 Copyright ©2017 by McGraw-Hill Education. All rights reserved Copyright ©2017 by McGraw-Hill Education. All rights reserved. QBO Tips Use the Journal Entry window to enter end-of-fourth quarter adjusting entries. Select > Journal Entry. The end-of-quarter adjusting entries include: Adjusting three months of prepaid rent. Adjusting three months prepaid insurance. Using straight-line depreciation for adjusting computer equipment’s accumulated depreciation account. 3 of 14 3 Copyright ©2017 by McGraw-Hill Education. All rights reserved Copyright ©2017 by McGraw-Hill Education. All rights reserved. Files Saved in Chapter 7 The chart shows the PDF and Excel files saved in Chapter 7. Files can be saved to a USB flash drive, hard-drive location, network, or external media. To identify your file, you could add your name at the end of the suggested file name. PDF & Excel Page Nos. Chapter 7_December 31 Journal 236 Chapter 7_December 31 Transaction Detail by Account 237 Chapter 7_Adjusted Trial Balance 239 Chapter 7_EOY Profit and Loss 241 Chapter 7_EOY Balance Sheet 243 Chapter 7_EOY Statement of Cash Flows 244 Chapter 7_January 1 Balance Sheet 246 4 of 14 4 Copyright ©2017 by McGraw-Hill Education. All rights reserved Copyright ©2017 by McGraw-Hill Education. All rights reserved. Files Saved in Chapter 7 (concluded) PDF & Excel Page Nos. Chapter 7_Postclosing Trial Balance