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Question: Identifying Adjustments by Scanning a Trial Balance Coach, Inc. -the maker of handbags and other women's and men's accessories-was owned by Sara Lee Corporation until April 2001, when Coach was spun off as a separate company. Assume the following adjusted balances were reported in Coach's trial balance and were used to prepare its July 2, 2009, year-end financial statements.

Required: 1. Based on the information in the trial balance, identify any accounts that likely were unearned revenues or prepaid expenses requiring an adjusting entry as of July 2 (no computations are necessary).

2. Based on the information in the trial balance, identify any accounts that likely were accrued revenues or accrued expenses requiring an adjusting entry as of July 2 (no computations are necessary).

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M93077787

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