The completed financial statement columns of the worksheet for Niho
The completed financial statement columns of the worksheet for Niho Company are shown below.


Instructions
(a) Prepare an income statement, owner’s equity statement, and a classified balance sheet. S. Niho made an additional investment in the business of $4,000 during 2014.
(b) Prepare the closing entries.
(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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