The journal entries in the Working Papers relate to Paul’s Auto P.O. 2,3 Body for its second month of operation. The balances of the accounts as ofJune 30 have been entered in the accounts in the ledger.

Instructions 1. Post the journal entries to the ledger accounts.
2. Prepare a trial balance as of July 31.
3. Prepare an income statement for the two months ended July 31.
4. Prepare a statement of owner’s equity for the two months ended July 31.
5. Prepare a balance sheet as of July 31.