Answer the following questions. Submit this portion
Question # 00164819
Posted By:
Updated on: 01/02/2016 10:17 PM Due on: 02/01/2016
Homework
Part 2: Answer the following questions. Submit this portion as a Word document or Excel spreadsheet.
The following is the trial balance for Eazy Services, Inc.:
|
Eazy Services, Inc. |
||
|
|
DR |
CR |
|
Cash |
$50,250 |
|
|
Accounts Receivable |
27,900 |
|
|
Office Equipment |
45,000 |
|
|
Accounts Payable |
|
42,250 |
|
Common Stock |
|
60,300 |
|
Dividends |
2,500 |
|
|
Retained Earnings |
|
00 |
|
Sales Revenue |
|
65,000 |
|
Salary Expense |
33,650 |
|
|
Operating Expense |
8,250 |
|
|
|
167,550 |
167,550 |
1. Prepare an Income Statement, Statement of Changes in Stockholders’ Equity and a Balance Sheet. (Assume that the company issued $60,300 of common stock on January 2, 201X. The business started on January 2, 201X)
2. Explain the purpose of a post-closing trial balance
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Rating:
/5
Solution: Answer the following questions. Submit this portion