HELP ON PART 5!

REFERENCES

Part Five Instructions In this part of the practice set, you will be creating an Adjusted Trial Balance from the Chart of Accounts using the balances in the T-Accounts. Next, using the balances in the Adjusted Trial Balance prepare an Income Statement, Statement of Retained Earnings and a Balance Sheet. Trial Balance Using the balances from the T-Accounts prepare a trail balance List all the accounts in the Chart of Accounts Make a Debit and Credit Column Put the balances in the T-Accounts in the appropriate columns Make sure that the Debit and Credit Column balance . Income Statement Prepare an Income Statement using the Adjusted Trial Balance Get the balances from the Adjusted Trial Balance for the Income Statement Make sure that all revenues and expenses are listed on the Income Statement Once you arrive at Net Income then prepare the Statement of Retained Earnings . . Statement of Retained Earnings Earnings Check for any balances that are on the Adjusted Trial Balance for Retained Earnings . Use the information from the Adjusted Trial Balance and Income Statement to prepare the the Aduoted Thal Balann statement Once this statement has been completed, prepare the Balance Sheet Balance Sheet Using the Adjusted Trial Balance, list all the accounts that are necessary for the Balance Sheet Make sure that all assets equal liabilities and stockholders' equity Once all statements are completed, please print them out and staple them to the inside front cover of the practice set.Next, go into blackboard and answer the questions for part 5. At the next class, turn in the entire practice set along with the T-Account balances, bank reconciliation and financial statements. Part Five Instructions In this part of the practice set, you will be creating an Adjusted Trial Balance from the Chart of Accounts using the balances in the T-Accounts. Next, using the balances in the Adjusted Trial Balance prepare an Income Statement, Statement of Retained Earnings and a Balance Sheet. Trial Balance Using the balances from the T-Accounts prepare a trail balance List all the accounts in the Chart of Accounts Make a Debit and Credit Column Put the balances in the T-Accounts in the appropriate columns Make sure that the Debit and Credit Column balance . Income Statement Prepare an Income Statement using the Adjusted Trial Balance Get the balances from the Adjusted Trial Balance for the Income Statement Make sure that all revenues and expenses are listed on the Income Statement Once you arrive at Net Income then prepare the Statement of Retained Earnings . . Statement of Retained Earnings Earnings Check for any balances that are on the Adjusted Trial Balance for Retained Earnings . Use the information from the Adjusted Trial Balance and Income Statement to prepare the the Aduoted Thal Balann statement Once this statement has been completed, prepare the Balance Sheet Balance Sheet Using the Adjusted Trial Balance, list all the accounts that are necessary for the Balance Sheet Make sure that all assets equal liabilities and stockholders' equity Once all statements are completed, please print them out and staple them to the inside front cover of the practice set.Next, go into blackboard and answer the questions for part 5. At the next class, turn in the entire practice set along with the T-Account balances, bank reconciliation and financial statements