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INSTRUCTIONS: Prepare an adjusted trial balance, income statement, statement of retained earnings and classified balance sheet for the QUARTER ended June 30 (one set
INSTRUCTIONS: Prepare an adjusted trial balance, income statement, statement of retained earnings and classified balance sheet for the QUARTER ended June 30 (one set of financial statements). ALL OF YOUR WORK SHOULD BE COMPLETED IN MICROSOFT EXCEL. On a separate worksheet, prepare the following ratios: return on assets, debt ratio, current ratio, gross margin ratio, inventory turnover, accounts receivable turnover, total asset turnover and debt to equity. On a separate worksheet prepare a bond amortization method, assuming Poplar uses the effective interest amortization method. Use the attached worksheet for the project. Add additional accounts as required. The post-closing trial balance for Poplar Tree as of March 31, 2021 as follows:
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