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Prepare a post closing trialbalance

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Reference no: EM131137938

The completed financial statement columns of the worksheet for Muddy Company are shown below.

Instructions

(a) Prepare an income statement, an owner's equity statement, and a classified balance sheet.

(b) Prepare the closing entries. Melissa did not make any additional investments during the year.

(c) Post the closing entries and rule and balance the accounts. Use T accounts. Income Summary is account No. 350.

(d) Prepare a post-closing trialbalance.  

Reference no: EM131137938

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