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i need help making an income statement, statement of retained earnings, and a (classified) balance sheet. i have included the directions as well as the
i need help making an income statement, statement of retained earnings, and a (classified) balance sheet. i have included the directions as well as the t accounts and the trial balance. please help! this is an online class and idk how to use excel
Step 4 Accounting Cycle Problem Summer 2023 Due by email no later than FRIDAY, June 23, 11:59 pm Use the ADJUSTED TRIAL BALANCE columns (see updated answers on Canvas) to prepare formal financial statements WITH PROPER HEADERS on each Income Statement Statement of Retained Earnings (classified) Balance Sheet These will be graded for correctness. There are models in the textbook on page 4-24 through 4-25 that discuss how to take the information from the Adjusted Trial Balance to the Income Statement, Statement of Retained Earnings, and Balance Sheet. (illustrations 4.28 and 4.29) Remember that the Adjusted Trial Balance is still showing the BEGINNING balance of Retained Earnings. We will compute Net Income on the Income Statement, and then prepare the SRE, so then we will have an updated balance for Retained Earnings. So you will need to use the updated retained earnings from the Statement of Retained Earnings, to put on the Balance Sheet to get Assets = Liabilities + Equity Step by Step Solution
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