The completed financial statement columns of the worksheet for Fleming Company are shown below:

FLEMING COMPANY Worksheet For the Year Ended December 31, 2014
Income Statement	Balance Sheet
Account No.	Account Titles	Dr.	Cr.	Dr.	Cr.
101	Cash	8,768
112	Accounts Receivable	10,664
130	Prepaid Insurance	2,601
157	Equipment	23,704
167	Accumulated DepreciationEquip.	4,611
201	Accounts Payable	8,816
212	Salaries and Wages Payable	2,524
301	Owners Capital	19,146
306	Owners Drawings	11,266
400	Service Revenue	59,988
622	Maintenance and Repairs Expense	1,739
711	Depreciation Expense	3,079
722	Insurance Expense	1,805
726	Salaries and Wages Expense	30,031
732	Utilities Expense	1,428
Totals	38,082	59,988	57,003	35,097
Net Income	21,906	21,906
59,988	59,988	57,003	57,003

Prepare an income statement.

FLEMING COMPANY Income Statement For the Year Ended December 31, 2014
DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues
	$
DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues
	$
DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues
DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues	$

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Prepare owners equity statement.(List items that increase owner's equity first.)

FLEMING COMPANY Owners Equity Statement For the Year Ended December 31, 2014
DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues	$
AddLess:DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues
AddLess:DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues
DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues	$

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Prepare a classified balance sheet.(List current assets in order of liquidity.)

FLEMING COMPANY Balance Sheet December 31, 2014
Assets
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentOwners EquityRevenuesTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Revenues
	$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentOwners EquityRevenuesTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Revenues	$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentOwners EquityRevenuesTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Revenues
AddLess:
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentOwners EquityRevenuesTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Revenues		$
Liabilities and Owners Equity
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentOwners EquityRevenuesTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Revenues
	$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentOwners EquityRevenuesTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Revenues		$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentOwners EquityRevenuesTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Revenues
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentOwners EquityRevenuesTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owners EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Revenues			$

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Prepare the closing entries. J. Fleming did not make any additional investments during the year.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31
(To close revenue account.)
Dec. 31
(To close expense accounts.)
Dec. 31
(To close net income / (loss).)
Dec. 31
(To close drawings.)

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Post the closing entries and balance the accounts.(Post entries in the order of journal entries presented in the previous part.)

Owners Capital
No. 301
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
Owners Drawings
No. 306
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
Income Summary
No. 350
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
Service Revenue
No. 400
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
Maintenance and Repairs Expense
No. 622
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
Depreciation Expense
No. 711
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
Insurance Expense
No. 722
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
Salaries and Wages Expense
No. 726
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.
Utilities Expense
No. 732
12/31 Bal.12/311/1 Bal.		12/31 Bal.12/311/1 Bal.

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Prepare a post-closing trial balance.

FLEMING COMPANY Post-Closing Trial Balance December 31, 2014
Debit	Credit
	$	$
Totals	$	$