The adjusted trial balance of Big Papi Music Company at June 30, 2015, follows:

Requirements
1. Prepare Big Papi’s multi-step income statement for the year ended June 30, 2015.
2. Journalize Big Papi’s closing entries.
3. Prepare a post-closing trial balance as of June 30,2015.

Transcribed Image Text:

BIG PAPI MUSIC COMPANY Adjusted Trial Balance June 30, 2015 Balance Debit Account Title Cash Accounts Receivable Merchandise Inventory Office Supplies Furniture Accumulated Depreciation Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total Credit 3,600 38,800 17,200 200 40,000 8,400 13,300 1,200 6,700 15,000 10,000 26,000 40,500 180,000 3,000 2,000 82,500 19,200 12,000 1,600 S 260,600 S 260,600