Question

DNA 4 U Company offers legal consulting advice to prison inmates. DNA 4 U Company prepared the end-of-period spreadsheet at the top of the following page at April 30, 2012, the end of the current fiscal year.

Instructions
1. Prepare an income statement for the year ended April 30.
2. Prepare a statement of owner’s equity for the year ended April 30. No additional investments were made during the year.
3. Prepare a balance sheet as of April 30.
4. On the basis of the end-of-period spreadsheet, journalize the closing entries.
5. Prepare a post-closing trialbalance.


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  • CreatedMay 07, 2012
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