The unadjusted trial balance of PS Music as of July 31, 2016, along with the adjustment data

Question:

The unadjusted trial balance of PS Music as of July 31, 2016, along with the adjustment data for the two months ended July 31, 2016, are shown in Chapter 3. Based upon the adjustment data, the following adjusted trial balance was prepared:

PS Music

Adjusted Trial Balance

July 31, 2016

The unadjusted trial balance of PS Music as of July

Instructions
1. (Optional) Using the data from Chapter 3, prepare an end-of-period spreadsheet.
2. Prepare an income statement, a statement of owner's equity, and a balance sheet.
3. Journalize and post the closing entries. The income summary account is #33 in the ledger of PS Music. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry.
4. Prepare a post-closing trial balance.

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-1305088436

14th edition

Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac

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