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4/2 Please answer all parts clearly - Thank you! The adjusted trial balance of Karise Repairs on December 31 follows. Note: C. Karise, Capital account
4/2
Please answer all parts clearly - Thank you!
The adjusted trial balance of Karise Repairs on December 31 follows. Note: C. Karise, Capital account balance was $32,000 on December 31 of the prior year, and there were no owner investments during the year. Required: 1a. Prepare an income statement for the year. 1b. Prepare a statement of owner's equity for the year. 1c. Prepare a classified balance sheet at December 31. 2. Prepare the December 31 closing entries. \begin{tabular}{|c|c|c|c|} \hline Required & Required & Required & Required \\ 1A & 1B & 1C & 2 \\ \hline \end{tabular} Prepare an income Required 1B year. KARISE REPAIRS Income Statement For Year Ended December 31 Revenues: Expenses: Total expenses \begin{tabular}{ll} & 0 \\ \hline$ & 0 \\ \hline \hline \end{tabular} Complete this question by entering your answ Prepare a statement of owner's equity for the year. \begin{tabular}{c|c|c|c|} \hline Required & Required & Required & Required \\ 1A & 1B & 1C & 2 \\ \hline \end{tabular} Prepare a classified balance sheet at December 31 . KARISE REPAIRS Balance Sheet December 31 Prepare the December 31 closing entriesStep by Step Solution
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