Question

On the next page is the post- closing trial balance submitted to you by the bookkeeper of Tafoya Consulting Company. Assume that the debit total ($ 41,048) is correct.
a. Analyze the work and prepare a response to what you have reviewed.
b. Journalize the closing entries.
c. What is the net income or net loss?
d. Is there an increase or a decrease in Capital?
e. What would be the ending amount of Capital?
f. What is the new balance of the post-closing trialbalance?


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  • CreatedOctober 21, 2014
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