Solved Case Analysis: The Garden Spot: Year One by Luann J. Lynch

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Description

The owner and manager of a small garden shop that opened on January 1 needs to analyze and record transactions, prepare financial statements, and assess the company’s performance during its first year of operations. She also needs to provide a set of financial statements for her bank, as she is required to do annually based on her loan agreement. Students will prepare journal entries, post this information to T-accounts, record the necessary adjusting entries and post to T-accounts, prepare an income statement that summarizes results of operations for the year, and prepare a balance sheet as of December 31.

Publishing Authority:

Darden Business Publishing – University of Virginia

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