Start from the posted T-accounts and the adjusted trial balance that DraperConsulting prepared for the company at December 31: 1. Complete the accounting worksheet at December 31.2. Journalize and post the closing entries at December 31. Denote each closingamount as Clo and an account balance as Bal.3. Prepare a classified balance sheet at December 31. Chapter 4,i: MYACCOUnlinglal1il This problem continues the Draper Consulting situation from Problem 3-49 of Chapter 3.P4-37 Start from the posted T-accounts and the adjustedConsulting prepared for the company at December 31: trial balance that Draper ccount TitleCashACCounts receivableSuppliesEquipmentAccumulated depreciation-equipmentFurnitLi1.il $ 30! , 4,200 j 70 Accumulated depreciation-furniture ~ 4,650 Accounts payable 685 Salary paya~le 700 Unearned service revenue 18,000 Draper, capital1,400 Draper, drawing 3,850 Service revenueRent expense . Utilities expenseSalary ekp;nse 550250685 Depreciation expense-equipment 30 h ..::.-:;:[ ?. ~ 70 Depreciation expense-furniture 700$27,985 $27,985 Requirements1. Complete the accounting worksheet at December 31.2, Journalize and post the closing entries at December 31 .. Denote each closingamount as Clo and ~n account balance as Bal.3. Prepare a classified balance sheet at December 31. ?? Practice SetRefer to the Practice Set data provided in Chapters 1,2, and 3.Requirements1. Prepare an accounting worksheet.f 2.3.4. Prepare an income statement, statement of owners equity, and balance sheetusing the report format.Prepare closing entries for the month.Prepare a post-closing trial balance. 1Accounting: The Financial Chapters. Ninth Edition, by Charles T. Horngren, Walter T. Harrison Jr., arid M. Suzanne Oliver. Published by Prentice Hall.Copyright ?ÿ 2012 by Pearson Education, Inc.
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