Question

The completed financial statement columns of the worksheet for Bray Company are shown as follows.


Instructions
(a) Prepare an income statement, an owner’s equity statement, and a classified balance sheet.
(b) Prepare the closing entries. L. Bray did not make any additional investments during the year.
(c) Post the closing entries and underline and balance the accounts. (Use T-accounts.) Income Summary is account No. 350.
(d) Prepare a post-closing trialbalance.


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  • CreatedMarch 02, 2015
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