This problem should be used only in conjunction with Problem 4-3A. It completes the accounting cycle by

Question:

This problem should be used only in conjunction with Problem 4-3A. It completes the accounting cycle by posting to T-accounts and preparing the post-closing trial balance.
Required
1. Using the data in Problem 4-3A, post the adjusting and closing entries to the T-accounts, identifying adjusting amounts as Adj., closing amounts as Clo., and account balances as Bal., as shown in Exhibit 4-10 (page 187 ). Double underline all accounts with a zero ending balance.
2. Prepare the post-closing trial balance.
3. Prepare a classified at December 31, 2017.
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...