Refer to the Practice Set data provided in Chapters 2 and 3 for Crystal Clear Cleaning. Requirements

Question:

Refer to the Practice Set data provided in Chapters 2 and 3 for Crystal Clear Cleaning.

Requirements

1. Prepare an accounting worksheet. (optional)

2. Prepare an income statement, statement of owner's equity, and classified balance sheet using the report format. Assume the Notes Payable is long-term.

3. Prepare closing entries for the month, and post to the accounts.

4. Prepare a post-closing trial balance.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...