Financial statements and closing entries Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 2018, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows: 11eb79a5_98a2_9a77_bf8a_a19e5d91e9fb_SM1598_00 Instructions 1. Prepare an income statement, a retained earnings statement, and a balance sheet. 2. Journalize the entries that were required to close the accounts at November 30. 3. If Retained Earnings had instead decreased $46,000 after the closing entries were posted, and the dividends remained the same, what would have been the amount of net income or net loss?

Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

النسخة 14الرقم المعياري الدولي: 978-1305653535

Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

النسخة 14الرقم المعياري الدولي: 978-1305653535

تمرين 41

Financial statements and closing entries
Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 2018, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows:

Instructions
1. Prepare an income statement, a retained earnings statement, and a balance sheet.
2. Journalize the entries that were required to close the accounts at November 30.
3. If Retained Earnings had instead decreased $46,000 after the closing entries were posted, and the dividends remained the same, what would have been the amount of net income or net loss?

التوضيح

موثّق

Accounting Cycle
Using the spreadsheet,...