Selected accounts and related amounts for Drapery Land Co. for the fiscal year ended July 31, 2010,
Question:
Instructions
1. Prepare a single-step income statement in the format shown in Exhibit 3.
2. Prepare a statement of owner’s equity.
3. Prepare an account form of balance sheet, assuming that the current portion of the note payable is $16,800.
4. Prepare closing entries as of July 31, 2010.
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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