AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aav A b A A AaBbCcDdEe AABBC AaBbCc Paste BIUabX x|ALAA Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane Forms for Requirement 2 000 Crozier Company (6') Income Statement For the Year Ended December 31, 2021 Revenues Expenses Net income $ Crozier Company Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2021 ILANGSU UNIVERSITY 14 Page 14 of 16 2757 words English (United States) Focus E + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aa A ab A A AaBb CcDdEe AABBC AaBbCc Paste BIUab X x|ALAA Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane VI .Preparing closing entries from a trial balance and financial Statement (24') Presented below is the December 31, 2021, pre-closing trial balance for the Crozier Company. The accounts are intentionally presented in a random order. Account Debits Credits Unearned revenue 6,000 Accounts receivable 23,000 Accounts payable 2,000 Wages expense 1,000 Land 5,000 Revenue 42,000 Dividends 2,000 Equipment 12,000 Accumulated depreciation- -equipment 3,000 Wages payable 1,000 Cash 23,000 Supplies expense 2,500 Common stock 21,000 Supplies 1,500 Operating expenses 5,000 Totals 75,000 75,000 JIANGSU UNIVERSITY 13 Page 13 of 16 2757 words x English (United States) Focus + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aa A ab A A REEVEVEENA 2I AaBbCcDdEe AABBC AaBbCc Paste BIUvabX x|ALAAE Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane Required 1. Based on the trial balance above, prepare all necessary closing journal entries for Crozier Company for December 31, 2021. Space is provided below. (2'x3=6') 2. Prepare income Statement, statement of OF and balance sheet . (6'x3=18') Space for Requirement 1 Forms for Requirement 2 Page 14 of 16 2757 words x English (United States) Focus E + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 " A" A Aa A A A EVENA 2 AaBbCcDdEe AABBC AaBbCc Paste BIUab X x |ALAA Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane Beginning common stock Plus:Investments by owners Beginning common stock Beginning Retained Earnings Plus: Net Income Less: Dividends Ending Retained Earnings Total Equity $ Crozier Company Balance Sheet As of December 31, 2021 (6') Assets: Cash Accounts receivable Supplies Equipment Land Total Assets $ Liabilities: Accounts payable Wages payable Page 15 of 16 2757 words English (United States) Focus + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aa A ab A A AaBbCcDdEe AABBC AaBbCc Paste BI Uvab X x ALA AE Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane Unearned revenue Total Liabilities $ Stockholders' Equity: Common Stock Retained Earnings $ Total Equity Total Liabilities and Equity VII. Simple FIFO, LIFO, and weighted-average calculations (6') The following information is available for Emporia Co. for June of 2018: June 1 Beginning inventory was 10 units @ $20. HANGSU UNIVERSITY 15 Page 15 of 16 2757 words Q& English (United States) Focus E + 180%AutoSave O OFF A A ) . G G ... ghizlane henoud final exam - Compatibility Mode Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Editing Comments Times New... ~ 10.5 ~ A" A Aa A b A A EEVEEVEENA 2I AaBbCcDdEe AABBC AaBbCc Paste BIUb X x|ALA AE Emphasis Heading 1 Heading 2 Styles Dictate Sensitivity Editor Pane June 9 Purchased 12 units @ $22. June 18 Purchased 8 units @ $24. June 28 Sold 17 units @ $35. Required 1. Calculate the company's cost of goods sold and ending inventory under the FIFO method. 2. Calculate the company's cost of goods sold and ending inventory under the LIFO method. 3.Calculate the company's cost of goods sold and ending inventory under the weighted-average method. Page 16 of 16 2757 words Ox English (United States) Focus E + 180%