Question

Using the information from P 2–8, prepare and complete a worksheet similar to Illustration 2A–1. Use the information in the worksheet to prepare an income statement and a statement of shareholders’ equity for 2021 and a balance sheet as of December 31, 2021. Cash dividends paid to shareholders during the year amounted to $6,000. Also prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts.

P 2-8 Adjusting entries LO2-6 Excalibur Corpoation ells video games for personal computers. The unadjusted trial balance as o

Student Name: 1 2 Class Problem 02-13 3 4 5 EXCALIBUR CORPORATION 6 Worksheet 7 December 31, 2021 8 9 Adiusted Unadjusted 10

39 EXCALIBUR CORPORATION 40 Income Statement 41 For the Year Ended December 31, 2021 42 43 Sales revenue 180,000 44 Cost of g

75 EXCALIBUR CORPORATION 76 Balance Sheet 77 At December 31, 2021 78 79 Assets 80 Current assets: 23,300 81 Cash 82 32,500 Ac

EXCALIBUR CORPORATION General Journal Debit Credit Account Closing entries at December 31, 2021 Sales revenue 180,000 Retaine

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Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you. UStatement of stockholders Equity: Common Stock $ 80,000 Retained Earning $ 22,050 Total $ 102,050 Beginning Issue of common

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