Selected accounts and related amounts for Black Lab Co for the fiscal year ended April 30, 2012,
Question:
Selected accounts and related amounts for Black Lab Co for the fiscal year ended April 30, 2012, are presented in Problem 5-1B.
Instructions
1. Prepare a single-step income statement in the format shown in Exhibit 2.
2. Prepare a retained earnings statement.
3. Prepare an accounts form of balance sheet, assuming that the current portion of the note payable is $7,000.
4. Prepare closing entries as of April 30, 2012.
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1 BLACK LAB CO Income Statement For the Year Ended April 30 2012 Revenues Net sales 3095000 Expenses ...View the full answer
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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