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Can someone help me with this? Attached is the unadjusted trial balance. The unadjusted trial balance of PS Music as of July 31, 2016, along
Can someone help me with this? Attached is the unadjusted trial balance.
The unadjusted trial balance of PS Music as of July 31, 2016, along with the adjustment data for the two months ended July 31, 2016, are shown inChapter 3. Based upon the adjustment data, the following adjusted trial balance was prepared:
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(Optional)Using the data fromChapter 3, prepare an end-of-period spreadsheet. Prepare an income statement, a retained earnings statement, and a balance sheet.AnswerCheck Figure:Net income: $4,955 Journalize and post the closing entries. The retained earnings account is #33 and the income summary account is #34 in the ledger of PS Music. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. Prepare a post-closing trial balance.Step by Step Solution
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