Williams Mechanic Services prepared the following work sheet for the year ended March 31,20--. Required 1. Complete the work sheet. (Skip this step if using CLGL.) 2. Prepare an income statement. 3. Prepare a statement of owner’s equity. Assume that there was an additional investment of $5,000 on March 13. 4. Prepare a balance sheet. 5. Journalize the closing entries using the four steps in the correct sequence. 6. Prepare a post-dosing trial balance. Check Figure Post-closing trial balance total, $31,765

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College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087
BuyFind

College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087

Solutions

Chapter
Section
Chapter 5, Problem 5PA
Textbook Problem

Williams Mechanic Services prepared the following work sheet for the year ended March 31,20--.

Chapter 5, Problem 5PA, Williams Mechanic Services prepared the following work sheet for the year ended March 31,20--.

Required

  1. 1. Complete the work sheet. (Skip this step if using CLGL.)
  2. 2. Prepare an income statement.
  3. 3. Prepare a statement of owner’s equity. Assume that there was an additional investment of $5,000 on March 13.
  4. 4. Prepare a balance sheet.
  5. 5. Journalize the closing entries using the four steps in the correct sequence.
  6. 6. Prepare a post-dosing trial balance.

Check Figure

Post-closing trial balance total, $31,765

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Chapter 5 Solutions

College Accounting (Book Only): A Career Approach
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