This problem continues from the Davis consulting situation from problem P 345 of chapter 3

P4-39 completing the accounting cycle from adjusted trial balance to post closing trial balance with an optional worksheet.

Start from the posted T-accounts and adjusted trial balance that Davis consulting prepared for the company at December 31.

Requirements

1. Complete the worksheet at December 31 (optional)

2. Prepare an income statement for the month ending December 31.

3. Prepare a statement of owners equity for the month ending December 31.

4. Prepare a classified balance sheet (report form) at December 31.

5. Journalize and post the closing entries at December 31. Do you know each closing amount as clo. And each account balance as balance

6. Prepare a post closing trial balance.

iPad The following adjusting entries shod H 52 PM red uiing the ginen infoemation swer 1 of 1 Debit (5) Credit (S) To recard earned partion of the umearned E Depreciation Expase Equpent 685 655 The adjusted trial balance thould be prepard as follows D Cossaltanion Debit (S) Credit (S) 035 28,035