The balances in the ledger of Good Landscape Services as of January 31, 2014 before adjustments are

Question:

The balances in the ledger of Good Landscape Services as of January 31, 2014 before adjustments are as follows:

Adjustment data are as follows: supplies on hand, January 31, $900; insurance expired for January, $1,100; depreciation on equipment for January, $1,600; salaries accrued, January 31, $1,650.
(a) Prepare a ten-column work sheet for Good Landscape Services for January, 2014.
(b) On the basis of the work sheet in (a), present the financial statements in good order note that the balance sheet should be classified.
(c) On the basis of the work sheet in (a), journalize the closing entries as of January 31, 2014.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...