Question

Below are the completed financial statement columns of the work sheet for Canned Heat Limited:
Instructions
(a) Prepare a statement of comprehensive income, statement of changes in shareholders' equity, and statement of financial position. Canned Heat's shareholders invested $24,000 in exchange for common shares. Accumulated other comprehensive income had a balance of SO on January I, 2014.
(b) Prepare closing entries for the year ended December 31,2014, and a post-closing trial balance.


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  • CreatedSeptember 18, 2015
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