Selected accounts and related amounts for Hobbs' Co. for the fiscal year ended June 30, 2008, are

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Selected accounts and related amounts for Hobbs' Co. for the fiscal year ended June 30, 2008, are presented in Problem 6-1B.

Instructions

1. Prepare a single-step income statement in the format shown in Exhibit 3.

2. Prepare a statement of owner's equity.

3. Prepare an account form of balance sheet, assuming that the current portion of the note payable is $2,250.

4. Prepare closing entries as of June 30, 2008.

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Accounting

ISBN: 978-0324401844

22nd Edition

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

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Question Posted: Jul 17, 2012 01:52 AM

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Selected accounts and related amounts for Hobbs' Co. for the fiscal year ended June 30, 2008, are

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