A partial work sheet for The Fan Shop is presented
A partial work sheet for The Fan Shop is presented here. The merchandise inventory at the beginning of the year was $ 52,300. P. G. Ochoa, the owner, withdrew $ 30,500 during the year.


Required
1. Prepare an income statement.
2. Journalize the closingentries.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help