The adjusted trial balance for Plevin Company is presented in E4-8. In E4-8, Plevin Company ended its

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The adjusted trial balance for Plevin Company is presented in E4-8.

In E4-8, Plevin Company ended its fiscal year on July 31, 2014. The company’s adjusted trial balance as of the end of its fiscal year is shown below.


The adjusted trial balance for Plevin Company is presented in


Instructions
(a) Prepare an income statement and an owner’s equity statement for the year. Plevin did not make any capital investments during the year.
(b) Prepare a classified balance sheet at July31.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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