(L. OBJ. 5) Preparing financial statements from the trial balance [20-30 min]
Link Back to Chapter 1 (Income Statement, Statement of Owner’s Equity, Balance Sheet). Refer to Problem 2-31A. After completing the trial balance in Problem 2-31 A, prepare the following financial statements for Seth Knoll, CPA, at December 31, 2011:
Requirements
1. Income statement for the month ended December 31, 2011.
2. Statement of Owners Equity for the month ended December 31, 2011.
3. Balance sheet at December 31, 2011.
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