The adjusted trial balance columns of the worksheet for Nguyen Company, owned by C. Nguyen, are as
Question:
The adjusted trial balance columns of the worksheet for Nguyen Company, owned by C. Nguyen, are as follows.
Instructions.
a. Complete the worksheet by extending the balances to the financial statement columns.
b. Prepare an income statement, owner's equity statement, and a classified balance sheet. C. Nguyen did not make any additional investments in the business during the year.
c. Prepare the closing entries. Use Jl4 for the journal page.
d. Post the closing entries. Use the three-column form of account. Income Summary is No. 350.
e. Prepare a post-closing trial balance.
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Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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