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Requirements 1. Prepare Rockin Robbins multi-step income statement for the year ended April 30, 2018. 2. Journalize Rockin Robbins closing entries. 3. Prepare a post-closing
Requirements 1. Prepare Rockin Robbins multi-step income statement for the year ended April 30, 2018. 2. Journalize Rockin Robbins closing entries. 3. Prepare a post-closing trial balance as of April 30, 2018.
314 chapter 5 Learning Objectives 4, 5 P5-43B Preparing a multi-step income statement, journalizing closing entries, and preparing a post-closing trial balance The adjusted trial balance of Rockin Robbin Dance Company at April 30, 2018, follows: 1. Operating Income $59,800 ROCKIN ROBBIN DANCE COMPANY Adjusted Trial Balance April 30, 2018 Balance Account Title Debit Credit $ Cash Accounts Receivable 4,400 38,000 17,800 850 39,900 $ 8,300 14,100 1,000 6,500 12,000 Merchandise Inventory Office Supplies Furniture Accumulated Depreciation Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total 5,000 36,150 40,000 178,500 83,700 19,000 16,000 1,900 $ 261,550 $ 261,550 CHAPTER 5 Requirements 1. Prepare Rockin Robbin's multi-step income statement for the year ended April 30, 2018. 2. Journalize Rockin Robbin's closing entries. 3. Prepare a post-closing trial balance as of April 30, 2018Step by Step Solution
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