Using the adjusted trial balance for Dianes Dairy Sales & Delivery in E4-22, prepare a single-step income

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Using the adjusted trial balance for Diane’s Dairy Sales & Delivery in E4-22, prepare a single-step income statement, a statement of shareholders’ equity, and a balance sheet.



Data from Exercises 22


Diane’s Dairy Sales & Delivery finished its first year of operations on December 31, 2022. After adjusting journal entries, the company presented the following adjusted trial balance.


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Using this trial balance, prepare Diane’s necessary entries to close out temporary accounts at year-end. Omit explanations.

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Intermediate Accounting

ISBN: 9780136946694

3rd Edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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