(Answered) 1 is a trial balance that gives you the balances to use to

Accounting

1) is a Trial Balance that gives you the balances to use to prepare the financial statements;

2) is a Template that you can use, note there are drop down choices - but, you can definitely use your own on Excel or similar;

Here are the instructions:

Instructions

1. Prepare an income statement for the year ended December 31.

2. Prepare a statement of owner's equity for the year ended December 31. No additional investments were made during the year.

3. Prepare a balance sheet as of December 31.

Total assets: $354,500 - if you got this number, then you did the assignment correctly.

4. Based upon the end-of-period spreadsheet, journalize the closing entries.

5. Prepare a post-closing trial balance.

Attachment:- Assignment.rar

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Accounting Basics, Accounting

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