August 3 1 , 2 0 2 1 Instructions a Calculate the profit or loss for the month b Calculate owner's equity at August 3 1 , 2 0 2 1 c Prepare a classified balance sheet for Paquet IT Services at August 3 1 , 2 0 2 1 Assume that $ 5 , 0 0 0 of the mortgage payable is due over the next year Journalize the closing entries e Create T accounts for Income Summary and R Paquet, Capital, and post the closing entries f Prepare a post closing trial balance g Calculate working capital, current ratio, and acid test ratio ACCT 1 1 2 Chapter 4 Financial Statements Demonstration ProblemAt the end of its first month of operations, Paquet IT Services has the following unadjusted trial balance, with the accounts presented in alphabetical order rather than in financial statement order Show all images Show all images Show all images done loading

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August 3 1 , 2 0 2 1 Instructions a   Calculate the profit or loss for the month  b   Calculate owner's equity at August 3 1 , 2 0 2 1   c   Prepare a classified balance sheet for Paquet IT Services at August 3 1 , 2 0 2 1   Assume that $ 5 , 0 0 0 of the mortgage payable is due over the next year  Journalize the closing entries  e   Create T accounts for Income Summary and R   Paquet, Capital, and post the closing entries  f   Prepare a post   closing trial balance  g   Calculate working capital, current ratio, and acid   test ratio ACCT   1 1 2 Chapter 4 Financial Statements   Demonstration ProblemAt the end of its first month of operations, Paquet IT Services has the following unadjusted trial balance, with the accounts presented in alphabetical order rather than in financial statement order Show all images Show all images Show all images done loading

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Question: August 3 1 , 2 0 2 1 Instructions a . Calculate the profit or loss for the month. b . Calculate owner's equity at

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