Question

Refer to Problem 2–3 and complete the following steps:

1. Enter the unadjusted balances from the trial balance into T-accounts.
2. Post the adjusting entries prepared in Problem 2–3 to the accounts.
3. Prepare an adjusted trial balance.
4. Prepare an income statement and a statement of shareholders' equity for the year ended December 31, 2011, and a classified balance sheet as of December 31, 2011. Assume that no common stock was issued during the year and that $4,000 in cash dividends were paid to shareholders during the year.
5. Prepare closing entries and post to the accounts.
6. Prepare a post-closing trial balance.



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  • CreatedJune 24, 2013
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