In December 2014, Lynn Newton opened an organic dry-cleaning shop. The financial statement effects template below shows
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Question:
In December 2014, Lynn Newton opened an organic dry-cleaning shop. The financial statement effects template below shows transactions for the month (a through i) and accounting adjustments (i through iv).
Required---use good form!!!
a. Prepare a trial balance for December 31, 2014 using the accounts named in the transactions below (for instance, in transaction a below, the accounts affected are Cash, Equipment, and Common Stock).
b. Prepare an income statement for Lynn Newton?s first month of operations.
c. Prepare a balance sheet for December 31, 2014.
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