For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 2016, Jeff decided to move to rented quarters and to operate the business, which was to be known as Rosebud Consulting, on a full-time basis. Rosebud Consulting entered into transactions during April. In Part 1 of this problem, the accounting cycle was completed up through the preparation of the adjusted trial balance.

Required:

8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare an income statement, a retained earnings statement, and a balance sheet. If you didnt complete the end-of-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare an income statement, a retained earnings statement, and a balance sheet. Be sure to read the instructions for each financial statement carefully.

9.

A.	Journalize the closing entries on page 4 of the journal. Closing entries are recorded on April 30.
B.	Use the spreadsheet to post the closing entries to the ledger of four-column accounts. Add the appropriate posting reference to the journal in CengageNOW.

10. Prepare a post-closing trial balance.

9. A. Journalize the closing entries on page 4 of the journal. Closing entries are recorded on April 30. 9. B. Add the appropriate posting reference to the closing entries in the journal in CengageNOW. PAGE 4 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT Closing Entries 9. A. Journalize the closing entries on page 4 of the journal. Closing entries are recorded on April 30. 9. B. Add the appropriate posting reference to the closing entries in the journal in CengageNOW. PAGE 4 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT Closing Entries