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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 31
Preparing financial statements from the worksheet.
The completed worksheet for JT's Accounting Services for the month ended December 31, 2013, appears on pages 150-151.
INSTRUCTIONS
1. Prepare an income statement.
2. Prepare a statement of owner's equity. The owner made no additional investments during the month.
3. Prepare a balance sheet.
Analyze: By what total amount did the value of assets reported on the balance sheet decrease due to the adjusting entries?
The completed worksheet for JT's Accounting Services for the month ended December 31, 2013, appears on pages 150-151.
INSTRUCTIONS
1. Prepare an income statement.
2. Prepare a statement of owner's equity. The owner made no additional investments during the month.
3. Prepare a balance sheet.
Analyze: By what total amount did the value of assets reported on the balance sheet decrease due to the adjusting entries?
Explanation
Verified
Verified
1.
Income Statement:
This statement is...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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