Question

Working Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Working Company prepared the following adjusted trial balance at December 31, 2015, the end of the current fiscal year:
Instructions
1. Prepare an income statement for the year ended December 31.
2. Prepare a statement of owner’s equity for the year ended December 31. No additional investments were made during the year.
3. Prepare a balance sheet as at December 31.
4. Journalize the closing entries.
5. Prepare a post-closing trial balance.


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  • CreatedSeptember 15, 2015
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