Question
Below, you'll find the fiscal-year end trial balances for Bundy's Tax Service. On separate worksheets, prepare an income statement and a classified balance sheet, IN
Below, you'll find the fiscal-year end trial balances for Bundy's Tax Service. On separate worksheets, prepare an income statement and a classified balance sheet, IN GOOD FORM . A statement of retained earnings is not required; however, you might find it helpful. NOTE: you must use formulae to pull data from the trial balance to the financial statements. (Don't forget to name each tab -- if it isn't named, I won't look at it.) GOOD FORM means proper headings, dollar signs where dollar signs belong (and not where they don't belong), underlines and double underlines as necessary, consistent formatting of font and numbers (use whole dollar amounts with no decimals showing). On the trial balance worksheet, add the post-closing trial balance. Do not do a totally separate trial balance; rather, you should have one trial balance with unadjusted, adjusted, and post-closing balances side by side, similar to what I show below. If you're not sure what I mean by this, ask for clarification in class. Finally, it needs to look professional -- something that you would be willing to turn in to your boss.
I REALLY NEED HELP WITH THE POST CLOSING TRIAL BALANCE!!!! PLEASE HELP
Bundy's Tax Service, Inc. Trial Balance September 30, 2016 Unadjusted Adjusted Cash 16,840 16,840 Accounts Receivable 15,340 15,340 Office Supplies 885 1,760 Prepaid Insurance Office Equipment Accum Depr - Ofc Eqp Accounts Payable Salaries Payable Rent Payable 5,800 1,450 13,300 13,300 6,960 5,220 6,560 9,860 2,750 1,750 Unearned Service Revenue 4,775 1,375 Retained Earnings 21,485 21,485 Dividends 3,000 3,000 Service Revenue 52,800 54,975 1,575 3,150 Rent Revenue Salaries Expense 20,550 24,250 Ofc Supplies Expense 2,225 Rent Expense 15,825 17,995 Insurance Expense 4,850 Depreciation Expense 2,170 102,305 $ $4 92,415 $ 92,415 102,305Step by Step Solution
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