Prepare closing entries and financial statements

Reference no: EM131075175 , Length: 15

PAT'S PAINTING - PROJECT - INDIVIDUAL

Any observed or reported instance of academic dishonesty, as defined in the University of Findlay's Student Handbook, will be prosecuted to the fullest extent possible. Individuals who violate the ethical standards of the course will receive a failing grade (0%) on this assignment, and the assignment cannot be re-submitted.

Pat's Painting, headquartered in Coldwater, Ohio, provides painting services. The organization consists of just 2 workers, Pat (the owner) and Walter. Pat's Painting is beginning its 11th year of business as a sole-proprietor. You have been asked to record the transactions associated with this business for the month of February, prepare adjusting entries, prepare closing entries and prepare the financial statements.

Deliverables:

General Journals
General Ledgers
Adjusted Trial Balance
Income Statement
Statement of Owner's Equity
Balance Sheet
Statement of Cash Flow (direct method)
Statement of Cash Flow (indirect method - bonus).

Attachment:- Pats-painting-project.rar

Reference no: EM131075175

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