Question

Refer to the Practice Set data provided in Chapters 2 and 3.


Consider the following adjustment data:
a. Cleaning supplies on hand at the end of November were $ 50.
b. One month’s combined depreciation on all depreciable assets was estimated to be $ 170.
c. One month’s interest expense is $ 100.

Requirements
1. Prepare an accounting worksheet. (Optional)
2. Prepare an income statement, statement of retained earnings, and classified balance sheet using the report format. Assume the Notes Payable is long-term.
3. Prepare closing entries for the month and post to the accounts.
4. Prepare a post-closing trialbalance.


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  • CreatedJanuary 16, 2015
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