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

Exercise 33

Preparing a worksheet, preparing closing entries, and preparing a classified balence sheet
Start from the posted T-accounts and the adjusted trial balance that Draper Consulting prepared for the company at December 31:

Requirements
1. Complete the accounting worksheet at December 31.
2. Journalize and post the closing entries at December 31. Denote each closing amount as Clo and an account balance as Bal.
3. Prepare a classified balance sheet at December 31.