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P4-42, cont., Requirement 5, cont.
P4-42, cont.
Requirement 6
Practice Set
P4-43 Completing the accounting cycle from adjusted trial balance to post-closing trial balance with an optional worksheet
Refer to the Practice Set data provided in Chapters 2 and 3 for Crystal Clear Cleaning.
Requirements
1. Prepare a worksheet (optional) at November 30, 2018. Use the unadjusted trial balance from Chapter 2 and the adjusting entries from
Chapter 3.
2. Prepare an income statement and statement of retained earnings for the month ended November 30, 2018. Also prepare a classified
balance sheet at November 30, 2018, using the report format. Assume the Notes Payable is long-term. Use the worksheet prepared in
Requirement 1 or the adjusted trial balance from Chapter 3.
3. Prepare closing entries at November 30, 2018, and post to the accounts. Open T-accounts for Income Summary and Retained earnings.
Determine the ending balance in each account. Denote each closing amount as Clos. and each account balance as Balance.
4. Prepare a post-closing trial balance at November 30, 2018.
SOLUTION
P4-43, cont.
Requirement 2
P4-43, cont.
Requirement 2, cont.
P4-43, cont.
Requirement 3
P4-43, cont., Requirement 3, cont.
P4-43, cont.
Requirement 4
