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2. BOMBALI INC. Adjusted Trial Balance at March 31, 2021 is listed below: the debits and credits are to be created by you as these

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2. BOMBALI INC. Adjusted Trial Balance at March 31, 2021 is listed below: the debits and credits are to be created by you as these numbers are not listed by debits and credits. You do not have to recreate the adjusted trial balance but you will need the total for each account to perform the closing entries and the Closing trail balance. Account Amounts Accounts payable 9,900 Accounts receivable 20,100 Accumulated depreciation office 900 equipment Capital stock 46,500 Cash 62,700 Consulting Fees Earned 103,500 Depreciation expense: office 900 equipment Dividends 9.600 Income taxes expense 7,200 Income taxes payable 7,200 Insurance expense 1,200 Interest expense 300 Interest payable 300 Notes payable (Due 6/30/2020) 36,000 Office equipment 54,000 Office supplies 10.800 Rent expenses 6,000 Retaining carnings 0 Salaries expense 29,100 Salaries payable 6,300 Supplies expense 5,100 Unearned consulting Fees 6,000 Unexpired insurance 4.800 Utilities expense 4.800 Totals 433,200 Requirement: A. Close All Temporary Accounts by journalizing and posting (10 points) B. Prepare the statement of Retained Earnings (2.5 point C. Prepare the post-closing Trial Balance D. Evaluate the company Profitability and indicate whether the company is profitable. Give explanation E. Evaluate the company liquidity and indicate whether the company is liquid. Give explanation. (2.5 points) (2.5 points)

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