The following closing entries were prepared for Greenway Gardening Services regarding the year ended October 31, 2020:

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The following closing entries were prepared for Greenway Gardening Services regarding the year ended October 31, 2020:

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Required

1. Prepare an income statement based on the information provided.

2. Calculate the post-closing balance in the capital account at October 31, 2020, given that the adjusted balance on October 31, 2019, was $76,000.

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Related Book For  book-img-for-question

Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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