Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

تمرين 3

Preparing financial statements and preparing closing entries
Alto Publishers Company's selected accounts as of November 30, 2012, follow:

Requirement
1. Prepare the multi-step income statement, statement of retained earnings, and balance sheet for the first year of operations.
2. Prepare closing entries for the first year of operations.