SP 4 Serial Problem (Algo) Business Solutions LO P2

The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. Prenare an income statement for the threa monthe andod noromhor ot 202 Prepare a statement of owner's equity for the three months er Capital account balance was $0 on October 1 , and owmer inves Prepare a classified balance sheet as of December 31,2021. BUSINESS SOLUTIONS Balance Sheet December 31,2021 Assets Current assets Plant assets Liabilities Current liabilities Total liabilities and equity Equity Journal entry worksheet Record the entry to close the revenue account(s). Note: Enter debits before credits. 1 Record the entry to close the revenue account(s). 2 Record the entry to close the expense account(s). 3 Record the entry to close the Income summary account. 4 Record the entry to close the withdrawals account. Note : = journal entry has been entered Record the entry to close the revenue account(s). Note: Enter debits before credits