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accounting problem. Can someone help me write out this problem? it's lengthy and I keep getting it wrong. it states: Required 1. Complete the work
accounting problem. Can someone help me write out this problem? it's lengthy and I keep getting it wrong.
it states:
Required 1. Complete the work sheet. (Skip this step if using CLGL.) 2. Prepare an income statement. 3. Prepare a statement of owner's equity. Assume that there was an additional investment of $5,000 on March 13. 4. Prepare a balance sheet. 5. Journalize the closing entries using the four steps in the correct sequence. 6. Prepare a post-closing trial balance. "If you are using CLGL, use the year 2020 when recording transactions and preparing reports. Willams Mechanic Services Work Sheet For Yoar Ended March 31,20- 6ACCOUNT NAME TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 6,500.00 1,250.00 6,500,00 1,250,00 215.00 2,000.00 8Accounts Receivable Supplies 10Prepaid Insurance 11 Equipment 12 Accumulated Depreciation, Equipment 415.00 2,175.00 3,500.00 (e) 200.00 (a) 175.00 1,200 00 4,000.00 16,940.00 15,000.00 1,275.00 4300.00 16,940 00 15,000.00 14 Accumulated Depreciation, Truck 18,300.00 (c) 300.00 15 Accounts Payable 16J. Williams, Capital 17 J. Williams, Drawing 1 Fees Earned 1 Salary Expense 20 Advertising Expense 3,000.00 3,000.00 1,325.00 250 00 150.00 175.00 (d) 125.00 121 Truck Operating Expense 250.00 23Miscellaneous Expense 150.00 37940.00 37940.00 26 Insurance Expense 26 Depreciation Expense, Equipment 27 Depreciation Expense, Truck 28 Salaries Payable 29 Supplies Expense (a) 175.00 (d) 125.00 200.00 38440.00 875.00 875.00 38,440.00Step by Step Solution
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