1. Income Statement: Prepare the income statement using the adjusted trial balance.
2. Statement of Owners Equity: Prepare the statement of owners equity using the adjusted trial balance.
3. Balance Sheet: Prepare the balance sheet using the adjusted trial balance.
4. Closing Entries: Complete the Closing Entries tab of the company accounting workbook by closing all temporary income statement amounts to create closing entries.
5. Post-Closing Trial Balance: Prepare the Post-Closing Trial Balance tab of the company accounting workbook in preparation for the next accounting period.

1 2 A Company Adjusting Journal Entries 20XX 3 4 Credit Debit 208.33 208.33 5 5 7 3 2 O 1 150.00 150.00 Date Accounts 31-Dec Depreciation Expense Accumulated Depreciation 31-Dec Interest Expense Interest Payable 31-Dec Insurance Expense Prepaid Insurance 31-Dec Baking Supplies Expense Baking Supplies 31-Dec Office Supplies Expense Office Supplies 200.00 200.00 19,400.00 2 3 19,400.00 550.00 4 5 550.00 6 7 8 9 0 1 2 20,508.33 20,508.33 3 2 Credit A Company Trial Balance 20xx Unadjusted trial balance Adjusting entries Debit Credit Debit 51,436.75 20,500.00 175.65 1,500.00 1,200.00 5,000.00 19,400.00 200.00 208.33 550.00 600.00 9,700.00 10,000.00 150.00 7,000.00 480.00 30,000.00 Adjusted trial balance Debit Credit 51,436.75 1,100.00 175.65 1,500.00 1,000.00 5,000.00 208.33 50.00 9,700.00 10,000.00 150.00 7,000.00 480.00 30,000.00 10,000.00 60,000.00 221.00 19,400.00 4,500.00 150.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 5 Account 5 Cash Baking Supplies 3 Merchandise Inventory - Prepaid Rent Lo Prepaid Insurance -1 Baking Equipment 2 Accumulated Depreciation _3 Office Supplies 4 Accounts Receivable -5 Notes Payable -6 Interest Payable -7 Accounts Payable -8 Wages Payable 9 Common Stock 0 Dividends 1 Bakery Sales 2 Merchandise Sales 3 Baking Supplies Expense -4 Rent Expense -5 Interest Expense 6 Insurance Expense 7 Depreciation Expense 8 Misc. Expense -9 Office Supplies Expense Business License Expense 1 Advertising Expense 2 Wages Expense 3 Telephone Expense 4 COGS 5 6 Total: 7 10,000.00 60,000.00 221.00 19,400.00 4,500.00 150.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 107,701.00 107,701.00 20,508.33 20,508.33 108,059.33 108,059.33 A Company Income Statement For Qtr. Ending 12/31/20XX Revenues Total Revenues Gross Profit I 2 Operating Expenses: 1 5 Total Operating Expenses: I 2. Net Income A Company Statement of Stockholder's Equity For Qtr. Ending 12/31/20xx Common Stock Retained Earnings Beginning Balances, September 30 0 Issued Common Stock Total 0 0 Net Income Dividends Ending Balances, December 31: 1 A B D E A Company Balance Sheet As of December 31, 20XX Assets Current Assets: Liabilities and Owners' Equity Current Liabilities: Total Current Liabilities I Long Term Liabilities: Total Current Assets Total Long Term Liabilities: Total Liabilities: 7 3 2 Shareholder's Equity: i Non-Current Assets: Total Equity Baking Equipment (Net) 5 Total Assets: Total Liabilities & Equity A Company Closing Entries Qtr ending 12/31/20xx Debit Credit Date Accounts 31-Dec Bakery Sales Merchandise Sales Retained Earnings . 1 3 7 5 5 7 31-Dec Retained Earnings Baking Supplies Expense Rent Expense Wages Expense Office Supplies Expense Business License Expense Office Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense COGS 1 2 3 1 31-Dec Retained Earnings Dividends 3 A Company Post-Closing Trial Balance Qtr. Ending 12/31/20xx Unadjusted Trial Balance Debit Credit Account Cash Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation : Office Supplies Accounts Receivable Accounts Payable Wages Payable Interest Payable Notes Payable Common Stock Retained Earnings Total