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Please be legible and show all work. The following accounts were taken from the records of Best Company on the year end (December 31, 2021)
Please be legible and show all work.
The following accounts were taken from the records of Best Company on the year end (December 31, 2021) after adjusting entri- Additiona Sales Salaries and Advertising expenses are Selling expenses and other operating expenses are General and Administrative expenses. Number of share outstanding during the year is 5,100 . No new shares were issued during the year. The stock was selling at $20 per share at the year end. No additional entries are required. REQUIREMENT: (Show your detailed work) (a) Prepare Classified Balance Sheet, Multiple-Step Income Statement and Statement of Retained Earnings of Best Company using the proper format and all the required accounting conventions. (b) Prepare the closing entries for Best CompanyStep by Step Solution
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