Balance Sheet and Statement of Owner's Cr. Be Cop de works FMCA Wirk Sleet Add Tra Balance Income Sutement Dr. ad Dr. a Dr. 4,000 2000 1,000 6,000 2500 3,000 Rant payable 1,000 med fines 500 Opital 3,000 500 For earned 7,500 Ince expense 1.500 Rest expense Total office equipment Depreciation expense 2,000 500 Net income 17,500 17,500 Totals (5 points) Required: Use the information in question 3-A, to prepare closing entries for YMCA Company Date General Journal Debit Credit Continue on the next page les of Financial Accounting (ACCT 204) Question Two: (14 points) Moath Company reports the following for the month of June. Date Explanation June 1 Inventory June 12 Purchase June 23 Purchase June 30 Inventory Required: Units 200 400 300 350 Unit cost Total cost $5 $1,000 6 2,400 7 2,100 Compute the cost of ending inventory and cost of goods sold at June 30 using the FIFO and LIFO methods. points) fied balance sheets commonly include the following categories. Current assets Investments Plant assets Intangible assets Current liabilities Long-term liabilities Equity ed: the typical classification of each item listed below by placing the letter of the -alance sheet category A through G in the blank space next to the item : A Cash 1) 2) 3) 4) - Buildings used in business operations Long-term notes payable Prepaid insurance Tom Smith, Capital Wages payable Copyright