Question: Using the information from the adjusted trial balance, complete the tasks below. Prepare an income statement and an owners equity statement for the 2 months

 Using the information from the adjusted trial balance, complete the tasks

Using the information from the adjusted trial balance, complete the tasks below.

  1. Prepare an income statement and an owners equity statement for the 2 months ended December 31, 2019, and a classified balance sheet as of December 31, 2019. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2021.
  2. Natalie has decided that her year-end will be December 31, 2019. Prepare and post-closing entries as of December 31, 2019.
  3. Prepare a post-closing trial balance.

Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial bal COOKIE CREATIONS Adjusted Trial Balance December 31, 2019 Credit Debit $1,180 875 350 1,210 1,200 $ 40 75 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Interest Payable Unearned Service Revenue Notes Payable Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Supplies Expense Depreciation Expense Insurance Expense Interest Expense 56 15 300 2,000 800 500 4,515 1,006 125 165 1,025 40 110 15 $7.801 $7.801

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