It is not necessary to prepare formal financial statements if a worksheet has been prepared because the financial position and net income are shown on the worksheet.
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Q1: Closing the drawings account to Owner's Capital
Q4: A worksheet is a mandatory form that
Q5: The balance of Accounts Receivable will appear
Q5: The owner's drawings account is a permanent
Q8: If total credits in the income statement
Q9: After closing entries have been journalized and
Q12: If a worksheet is used financial statements
Q17: The adjustments on a worksheet can be
Q18: The balance of the depreciation expense account
Q35: After a worksheet has been completed the
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