Selected accounts and related amounts for Black Lab Co for the fiscal year ended April 30, 2012,

Question:

Selected accounts and related amounts for Black Lab Co for the fiscal year ended April 30, 2012, are presented in Problem 5-1B.

Instructions

1. Prepare a single-step income statement in the format shown in Exhibit 2.

2. Prepare a retained earnings statement.

3. Prepare an accounts form of balance sheet, assuming that the current portion of the note payable is $7,000.

4. Prepare closing entries as of April 30, 2012.

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Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Oct 14, 2011 05:10 AM

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Selected accounts and related amounts for Black Lab Co for the fiscal year ended April 30, 2012,

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1 BLACK LAB CO Income Statement For the Year Ended April 30 2012 Revenues Net sales 3095000 Expenses ...View the full answer

Financial and Managerial Accounting

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