Question: Instructions Prepare an income statement, an owner's equity statement, and a classified balance sheet. E4-4 Worksheet data for Savaglia Company are presented in E4-2, Instructions

Instructions Prepare an income statement, an owner's equity statement, and a classified balance sheet. E4-4 Worksheet data for Savaglia Company are presented in E4-2, Instructions (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and Owner's Capital. Use T-accounts. (c) Prepare a post-closing trial balance at April 30. E4-2 The adjusted trial balance columns of the worksheet for Savaglia Company are as follows. Balance Sheet Dr. Cr. SAVAGLIA COMPANY Worksheet (partial) For the Month Ended April 30, 2017 Adjusted Income Trial Balance Statement Account Titles Dr. Cr. Dr. Cr. Cash 10,000 Accounts Receivable 7,840 Prepaid Rent 2,280 Equipment 23,050 Accumulated Depreciation-Equip. 4,900 Notes Payable 5,700 Accounts Payable 4,920 Owner's Capital 27,960 Owner's Drawings 3,650 Service Revenue 15,590 Salaries and Wages Expense 10,840 Rent Expense 760 Depreciation Expense 650 Interest Expense 57 Interest Payable Totals 59,127 59,127 Instructions Complete the worksheet
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