The adjusted trial balance columns of the worksheet for Taj Company, owned by Gabby Taj, are as follows.

Instructions(a) Complete the worksheet by extending the balances to the financial statement columns.

(b) Prepare an income statement, owner?s equity statement, and a classified balance sheet. (Note: $5,000 of the notes payable become due in 2013.) Gabby Taj did not make any additional investments in the business during the year.

(c) Prepare the closing entries. Use J14 for the journal page.(d) Post the closing entries. Use the three-column form of account. Income Summary is No. 350.(e) Prepare a post-closing trialbalance.

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TAJ COMPANY Worksheet For the Year Ended December 31, 2012 Adjusted Trial Balance Account No. Dr. Cr. Account Titles Cash 101 5,300 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Owner's Capital Owner's Drawings 112 10,800 126 1,500 130 2,000 27,000 151 152 5,600 200 15,000 201 6,100 212 2,400 230 600 301 13,000 306 7,000 400 Service Revenue 61,000 610 Advertising Expense Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Interest Expense 8,400 631 4,000 711 5,600 722 3,500 726 28,000 905 600 Totals 103,700 103,700