In December 2017, Beth Gilligan opened dry-cleaning store. The financial statement effects template below shows transactions for the month (a through i) and accounting adjustments (i through iv).
Required:
Determine the ending balances for the accounts as of December 31, 2017 and prepare an income statement for Beth Gilligan's first month of operations and a balance sheet for December 31, 2017

Question

In December 2017, Beth Gilligan opened dry-cleaning store. The financial statement effects template below shows transactions for the month (a through i) and accounting adjustments (i through iv). 
Required:
Determine the ending balances for the accounts as of December 31, 2017 and prepare an income statement for Beth Gilligan's first month of operations and a balance sheet for December 31, 2017

Quizplus · Accepted Answer

The Answer of In December 2017, Beth Gilligan opened dry-cleaning store. The financial statement effects template below shows transactions for the month (a through i) and accounting adjustments (i through iv). 
Required:
Determine the ending balances for the accounts as of December 31, 2017 and prepare an income statement for Beth Gilligan's first month of operations and a balance sheet for December 31, 2017

In December 2017, Beth Gilligan Opened Dry-Cleaning Store