DNA 4 U Company offers legal consulting advice to prison inmates. DNA 4 U Company prepared the

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DNA 4 U Company offers legal consulting advice to prison inmates. DNA 4 U Company prepared the end-of-period spreadsheet at the top of the following page at April 30, 2012, the end of the current fiscal year.

Instructions1. Prepare an income statement for the year ended April 30.2. Prepare a retained earnings statement for the year ended April 30.3. Prepare a balance sheet as of April 30.4. On the basis of the end-of-period spreadsheet, journalize the closing entries.5. Prepare a post-closing trial balance.

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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...
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Financial and Managerial Accounting Using Excel for Success

ISBN: 978-1111993979

1st edition

Authors: James Reeve, Carl S. Warren, Jonathan Duchac

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