The following is the trial balance prepared for Owens Art Supplies. Instructions a. Prepare an income statement

Question:

The following is the trial balance prepared for Owen’s Art Supplies.


Instructions

a. Prepare an income statement for the year ended December 31, 2024.

b. Prepare a statement of owner’s equity for the year ended December 31, 2024.

c. Prepare a balance sheet at December 31, 2024.


Taking It Further

Discuss how well the company performed.

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Related Book For  book-img-for-question

Accounting Principles Volume 1

ISBN: 9781119786818

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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