Start from the posted T-accounts and the adjusted trial balance that Draper Consulting prepared for the company at December 31: Requirements1. Complete the accounting worksheet at December 31.2. Journalize and post the closing entries at December 31. Denote each closing amount as Clo and an account balance as Bal.3. Prepare a classified balance sheet at December31.

Chapter 4, Short Exercises #37

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Start from the posted T-accounts and the adjusted trial balance that Draper Consulting prepared for the company at December 31:


DRAPER CONSULTING, INC. Adjusted Trial Balance December 31, 2012 Balance Debit Account Title Credit Cash $16,350 Account


Requirements
1. Complete the accounting worksheet at December 31.
2. Journalize and post the closing entries at December 31. Denote each closing amount as Clo and an account balance as Bal.
3. Prepare a classified balance sheet at December31.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Related Book For answer-question

Financial and Managerial Accounting

3rd Edition

Authors: Horngren, Harrison, Oliver

ISBN: 978-0132497978